The Lagos Chamber of Commerce and Industry has said that Nigeria will continue to spend a large chunk of its earnings to service the total public debt stock of N25.7 trillion.
“Breakdown shows that N8.3 trillion or 32 percent of total debt stock is owed to external creditors while N17.4 trillion or 68 percent are domestic debt. Debt stock has jumped by 128 percent in the last eight years without a corresponding impact on the economy.
Meanwhile, the Federal Government on Monday, stressed that despite the debt figure, Nigeria is not in debt trouble as being circulated, insisting that the nation is within a reasonable debt to its Gross Domestic Product ratio.
In essence we are broke Lwkm. N Some people want to use billions of naira to renovate a building o. 🤣😂🤣😂🤣. Las Las we go leave the country for Dem.
Very bad
That not a good news at all
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