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Nigeria’s debt hit N152.4 trillion by June 2025, driven by rising borrowing costs and debt servicing, despite claims of reduction.
Nigeria’s public debt rose to N152.4 trillion by June 2025, nearly doubling since 2023, despite government claims of debt reduction.
While official data shows a drop in external debt, rising debt servicing—driven by exchange rate shifts and maturing loans—has strained the budget, consuming a large share of revenue.
Recurrent spending exceeded projections by over N1.6 trillion, with debt servicing far surpassing estimates.
High borrowing costs, fueled by a 27% Minimum Rediscount Rate, have made credit unaffordable for businesses, stifling growth.
Critics warn the government’s reliance on debt to fund operations and bureaucracy risks a deepening debt trap, urging fiscal reform and reduced borrowing to free capital for private sector development.
La deuda de Nigeria alcanzó N152.4 billones en junio de 2025, impulsada por el aumento de los costos de endeudamiento y el servicio de la deuda, a pesar de las reclamaciones de reducción.