Nigeria sinking into another debt trap

Nigeria sinking into another debt trap

NIGERIA is sinking deeper into another debt trap. This is after the country’s debt-to-GDP ratio recently crossed the 50 per cent threshold for the first time since 1991. The Bola Tinubu administration inherited a debt-to-GDP ratio of 38 per cent. But fresh borrowings, securitisation of the Ways and Means advances, a failure to tackle fiscal

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