Nigeria Economic Update (Issue 46)

Recent media reports reveal that Nigeria spent an alarming amount of N5.75 billion daily to service debts – summing up to a total of N1.07 trillion for the first half (six months) of 2018, paid as interest on money borrowed from local and international sources. This implies that about 51% of the projected N2.1 trillion for 2018 debt service has been paid.

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