Nigeria’s ballooning debt to hit self-imposed limit by year-end, Bloomberg says

Nigeria is at risk of reaching its self-imposed debt limit of 40% of gross domestic product by year-end as it increases borrowings to plug a revenue shortfall.

Total loans jumped 17 percent to 46 trillion naira ($99.7 billion) as of December, raising the country’s debt as a proportion of gross domestic product (GDP) to 23 percent from 22.5 percent the previous year, data from the Debt Management Office showed this week.

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