BusinessEconomyNewsNigeriaCBN Reports 39.77% Rise in 2024 Nigeria’s Foreign Debt Payments
…State Debt Soars to N11.47 Trillion, Fuelled by Currency Devaluation The Federal Government of Nigeria spent $3.58 billion on foreign debt servicing from January to September 2024, reflecting a 39.77 per cent increase from the $2.56 billion spent in the same period in 2023, according to data from the Central Bank of Nigeria, CBN. The CBN’s report on international payment statistics indicates that the highest monthly debt servicing expenditure in 2024 was recorded in May,...