Nigeria: The Country's's Debt Hits N6 Trillion

28 October 2011

The Senate yesterday disclosed that Nigeria's total debt now stands at a whopping US$39.72 billion (N6.02 trillion of which external and domestic debts are US$5.398 billion and N5.210 trillion respectively) barely five years after the full repayment of the country's foreign debt. These figures were disclosed at the inauguration of Senate Committee on Foreign and Local Debts by its Chairman, Senator Ehigie Uzamere (ACN, Edo).

The Senator said: "This amount is unsettling and called for concern".

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.