Ifeanyi Onuba, AbujaThe Minister of Finance, Mrs Zainab Ahmed, has said that Nigeria has enough capacity to repay its debt obligations which stands at about $22.08bn. The committee had warned that except the Federal Government adopted measures to address the country’s debt level, Nigeria’s debt burden might rise up to the pre-2005 Paris Club Level. In October 2005, Nigeria and the Paris Club announced a final agreement for debt relief worth $18bn and an overall reduction of Nigeria’s debt stock by $30bn. Based on statistics released by the Debt Management Office, Nigeria’s debt profile as of June 30, 2018, was $22.08bn. “Global trends reveal a slowdown in global economic growth exacerbated by global risks.

Source: Punch February 01, 2019 23:15 UTC