Nigeria seeks to borrow another N12 trillion from local and multilateral lenders even as the country’s debt surpasses ₦38 trillion. In the country's National Development Plan 2021-2025, the government says public debt will hit N50.22tn by 2023. How sustainable is Nigeria's high level of debt? With debt servicing gulping a huge portion of the country's revenue, what concerns should be front and center as Nigeria aims to borrow more?
Today on Business Edge, Tolulope Adeleru-Balogun and Taiwo Oyedele. Fiscal Policy Partner and Africa Tax Leader at PwC discuss Nigeria’s debt issues and high rate of borrowing.
