Nigeria’s national debt hits an all time as the country struggles with repayment

This is according to a report by the Punch Newspaper, which also noted that the rise in debt is coming amidst the country’s struggle to repay its already substantial debt.

Nigeria’s public debt has reached an all time high of N44.06tn in the third quarter of 2022.

The new rise in debt service is a result of the new funds the Nigerian government had borrowed to part-finance the deficit in the 2022 Appropriation Act, alongside new borrowings by sub-nationals.

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