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Disclosure by the Minister of Finance, Budget and National Planning, Zainab Ahmed, to the effect that the Federal Government is exploring debt restructuring options as well as securitising the N22 trillion Central Bank of Nigeria ..
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At the United Nations General Assembly (UNGA) in New York, the United States, last week, President Muhammadu Buhari, made an open-ended request for ‘outright’ debt cancellation for developing countries facing “the most severe challenges”.
Confidence in the economy has dropped to its lowest ebb, emboldening some Nigerians – the wealthy and hustlers– to bet against the naira, investigations have suggested.
It will take the Federal Government, at least, seven and half years to pay its existing N36.78 trillion debt – which is about 88 per cent of the N41.6 trillion national public debt stock – if it saves 100 per cent of its retained earnings..