Nigeria’s debt servicing expenses reached N6.04tn in the first half of 2024, marking a sharp increase of 68.8 per cent from the N3.58tn recorded during the same period in 2023, the latest data from the Central Bank of Nigeria showed.
This implies that the amount spent by the Federal Government in servicing debt during the review period is about three times what it spent on personnel costs.
This sharp rise in debt service obligations, likely…
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