Nigeria spent a whopping N5.78 trillion on debt servicing in the first nine months of 2023, fresh data from the Budget Office of the Federation has shown.
According to the 2023 third quarter (Q3) budget implementation report released late on Monday; the office said the figure is higher than the projected N4.91 trillion in the 2023 budget thus representing an increase of N869.38 billion (17.68 percent).
The budget office said interest on ways and means during the period amounted to N1.69 trillion.
