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‘Why Nigeria is borrowing from China’

DG, Debt Management Office, Patience Oniha

The Federal Government has explained that it borrows from China in order to take advantage of a cheaper source of finance. In a statement made available to newsmen in Abuja on Tuesday, the Debt Management Office said that the Federal Government was also borrowing from China in order to diversify …

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N2.75tn borrowed by Nigeria in one year

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The debt owed by the Federal Government, state governments and the Federal Capital Territory Administration increased by N2.75tn between July 1, 2017 and June 30, this year, statistics from the Debt Management Office have indicated. Figures from the DMO made available to journalists in Abuja on Tuesday also showed that …

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