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NIGERIA’S FOREIGN DEBT
Nigeria has spent $2.78 billion on servicing foreign debt in the first seven months of 2024, according to the international payment statistics of the Central Bank of Nigeria.
Nigeria has seen a significant surge in its foreign debt servicing costs, with an increase of 96% year-on-year, according to the latest data released by the Central Bank of Nigeria (CBN).
In Nigeria, Coronavirus possesses a different kind of imminent threat which could cost economies even more.