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Nigeria's Untenable Rising Debt Profile


Ring true
Email: yemi.adebowale@thisdaylive.com
For most of this week, I spent quality time scrutinising the statistics of the Debt Management Office (DMO) on Nigeria’s liability portfolio in the last six years. I wanted a clear picture of how the accumulation progressed dangerously. According to the DMO, Nigeria’s total debt as of June 30, 2015 stood at N12.12 trillion. So, when Muhammadu Buhari took over as President, this country’s debt portfolio was N12.12 trillion. By December 31, 2020, the country’s debt portfolio had risen to N32.92 trillion. The most recent statistics from the DMO, covering the first quarter of 2021, showed that the debt portfolio had increased to N33.10 trillion. ....

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