Nigeria's debt servicing expenditure has reached over 13.12 trillion Naira in 2024, with plans to borrow an additional 1.2 billion dollars, creating a concerning trajectory where nearly all national revenue will be consumed by debt payments, threatening the country's economic sustainability.
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Nigeria is at a point where we could start spending nearly all our revenue on debt servicing #fypAdded:
In 2024, Nigeria has spent over 13.12 trillion on servicing debt. Now, they are going to borrow the biggest of over 1.2 billion dollars. At some point, Nigeria will be spending nearly all our revenue on debt servicing. So, you can understand where we are headed.
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