Debt servicing consumed 47 percent of the federal government’s total expenditure in the first nine months of 2024, The Punch reports.  An analysis of data from the Central Bank of Nigeria’s latest quarterly statistics bulletin highlights the growing burden of debt repayment obligations and its implications for Nigeria’s fiscal sustainability.
In the first nine months of 2024, the Federal Government spent N8.94 trillion on debt servicing, a sharp increase of 56.8 percent from N5.69 trillion in the corresponding period of 2023. The debt costs accounted for nearly half of the N18.97tn total expenditure for the period, compared to 42 percent of the N13.57tn spent in 2023. ................READ MORE