FOLLOWING a string of fresh loans taken by the Federal Government, Nigeria’s debts now stand at over N30 trillion. With the approved loan requests, Nigeria’s debts profile will go above N31trillion. The nation’s debt stock,which has been on the upward trend since 2008, hit N7,554,258,000,000 by December 31, 2012. The nation’s public debt rose to N10,433,045,350,000 by the end of June 2014, climbed to N10,841,246,420,000 by September 30, 2014 and became N11,243,120,220,000 by the end of 2014. Nigeria’s indebtedness rose to N13,830,577,980,000 by March 2016, climbed to N 16,296,709,510,000 by June 2016, became N16,884,064,330,000 by September 2016 and hit N 17,360,009.58 by December 31, 2016.

Source: Nigerian Tribune August 04, 2020 04:18 UTC