Abuja — CHAIRMAN, Senate Committee on Local and Foreign Debts, Senator Ehigie Edobor Uzamere (ACN, Edo South) disclosed, yesterday, that Nigeria's Foreign and Domestic debts stand at a total of US $39.72 billion (N6.02 trillion) which is 20.29 per cent of Nigeria's Gross Domestic Product, GDP.
Speaking at the inauguration of his Committee by Deputy Senate President, Senator Ike Ekweremadu, Uzamere said at the advent of civilian rule, the country's external debt was well over US$326 billion, but the nation's current debt is now US$5.398 billion as external which translates to 2.76 per cent of our Gross Domestic Product, GDP, while our Domestic Debt is N5.210 trillion representing 17.53 per cent.
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