Debt: Nigeria Owes N24.9 trillion, Set To Borrow More

By Uche Mbah Nigeria’s total debt overhang in the first quarter of the year rose to N24.9 trillion, adding N460 billion in the first quarter of 2019 alone, with indications that Government still has intentions of borrowing more in the coming months. Buhari is said to be shopping for donors to Finance the 2019 budget, even though the budget implementation has remained abysmally low. “We intend to fund the 2019 budget through borrowing locally and internationally with a spread of 50:50. Our focus is on concessionary long-term loans,” the finance…

Read More

Nigeria On Death Trap, Heading For Debt Crisis-Martin Onovo

Nigeria is currently on a dangerous level of Debt trap that is already showing signs of Debt crisis, and, it appears the presidency is more inclined to a speedy descent into debt crisis, if current realities are to be taken into considerations. This is the view of former Presidential candidate under the aegis of National Conscience Party, Martin Onovo. Debt trap indicates a situation where a country is borrowing more money while struggling to service an already burgeoning debt profile, a situation that Nigeria has unfortunately found herself in recent…

Read More