2023 Nigerian presidential candidate Peter Obi criticized Nigeria's government borrowing, citing N97.3 trillion ($228 billion) public debt and N10 trillion ($22.8 billion)

2023 Nigerian presidential candidate Peter Obi criticized the Nigerian government's borrowing, stating that it has increased without producing significant benefits for the country's economy. By the end of 2023, Nigeria's public debt reached N97.3 trillion ($228 billion) with domestic and external debt servicing costs totaling nearly N10 trillion ($22.8 billion) annually. Obi called for a reduction in borrowing and a thorough examination of how previous loans have been utilized to address the rising debt profile.

April 02, 2024
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