Nigeria’s debt is now N121.67 trillion, says Afe Babalola, raising alarm. Immediate debt relief measures, economic reforms and prudent governance should be taken immediately, he urges.
Nigeria debt crisis
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Nigeria’s debt repayment obligations have surpassed its spending on recurrent and capital expenditures, raising concerns about economic stability and long-term growth.
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Nigeria’s debt has risen to N87.9 trillion from N12.8 trillion in eight years. Experts emphasize the need for economic diversification and fiscal responsibility.
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Peter Obi and leading economists present strategies to President Tinubu’s administration for reducing Nigeria’s N97.3 trillion debt, emphasizing sustainable economic growth and prudent fiscal management.
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Labour Party’s Peter Obi criticizes Nigeria’s growing debt under the current government, warning of potential economic instability.
