- Recent data has shown that Nigeria owes about $4.85 billion to five countries, accrued in the last seven years
- Nigeria’s external debt has ballooned by over 200% in the seven years that Buhari has been president
- Most of Nigeria’s external debt is owed to countries such as India, Japan, China, France and Germany
Recent documents from the Debt Management Office (DMO) have revealed that Nigeria’s government borrowed about $3.27 billion from five countries between June 30, 2015, and September 30, 2022.
The DMO data on loans disclosed that within the period, the country’s borrowings from five countries spiked by 206.96% from $1.58 billion in 2015 to $4.85 billion by September 2022.
