₦airaland Forum

Nigeria’s external debt profile will hit over $51.759 billion, as President Bola Tinubu yesterday sought the National Assembly’s approval for fresh $8.6 billion and €100 million foreign loans.

The President’s request is part of the external borrowing plan for 2022-2024 for critical infrastructure, such as power, roads, water, railway, health.

The country’s external debt stock at as June 2023, according to data from the Debt Management Office, DMO, stood at $43.159 billion, while its domestic debt stock is N54.130 trillion. 

Analysis of the external debt showed that multilateral borrowing gulped $20.790 billion; bilateral, $5.518; commercial, $15.618 billion; promissory notes $931.7 million and $300 million.

Meanwhile, Nigeria’s total public debt (domestic and external) as at June 2023 stood at N87.379 trillion.

Read more
https://dailypostngr.com/2023/11/tinubus-new-8-6-billion-loan-bid-takes-nigerias-debt-close-to-52-billion/

May God help us

It will pay off on the long run

Borrow to buy perfume, fan and cars.
Maybe one or two mega project with good "profit".

KeenD:
It will pay off on the long run

Well, let’s hope so as we yearn and pray for a cushion to current hardship in the short run

Vote wisely in the next election

So this is the best SW can offer?

😂😂😂

When will Nigeria leaders consider Nigerians first

Mortgaging this already battered nation into more and more economic recession and financial indebtedness

When APC is borrowing the tell us all manner of stories. When it is time to pay, the tell lenders all sorts of stories, then ask for debt forgiveness.

What a party!