Nigeria spends 50 percent of revenue on debt servicing-AFDB

Posted by FN Editor | 5 years ago | 1,418 times



African Development Bank says Nigeria spends 50% of its earning on debt servicing 
The bank, revealed this in its West Africa Economic Outlook 2019.

According to AfDB, the lowest revenue spent by West African countries on external debt servicing is 17 per cent.

The bank adds that with the increasing domestic debt burden, the percentage of revenues spent on debt servicing in Nigeria will go higher.

 


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