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Nigeria Enters Fresh N359bn External Debt
February 1, 2008
Nigeria has entered into a new external debt of about $3.0969bn (N359bn), the Debt Management Office has said. The new debt burden is coming after the country exited a Paris Club debt of about $30bn.
Nigeria's Debt - Financial Times Editoral
December 28, 2006
On the face of it, this may not be the best time for an oil exporting country to ask forgiveness from its creditors. When that country is Nigeria, where for decades the proceeds of both oil and borrowing have been squandered and embezzled,...
Foreign Creditors Panic Over Nigeria's Next Move
December 28, 2006
International financial markets were jittery on Monday as creditors and analysts awaited a possible repudiation by Nigeria of her $34.5billion external debt.
Tension was heightened after a five-man delegation from the National Assembly arrived...
Digging Deeper Into The Debt Trap
December 28, 2006
Nigeria has dug herself into a deep, dark hole via the debt trap. By December 2004, $34.5 billion was outstanding to external creditors on principal, interest, arrears and penalties. This, according to the Debt Management...
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