Nigeria’s debt nears N77trn on CBN overdraft, new loans

Nigeria’s debt burden looks set to hit about N77 trillion with the planned securitisation of the N22.7 trillion loans from the Central Bank of Nigeria (CBN) to the federal government, coupled with new borrowing proposed for 2023.

The country’s public debt stock increased to N44.06 trillion in the third quarter of last year from N39.56 trillion at the end of 2021, according to the Debt Management Office (DMO).

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