How debts slow down Nigeria’s growth

Two decades ago, Nigeria had to do a debt buyback from the Paris Club. It meant that the country’s debt was almost at ground zero. Incidentally, almost 20 years after, it is as if the country has come full circle to where it was pre-2003.

As the year 2022 draws to a close, the country’s debt profile has risen by about N2 trillion hitting N44.6 trillion. Thus analysts have predicted that the country may be on the verge of a debt crisis.

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