Nigeria spends $3bn servicing commercial loans in four years

3 months ago 39

Nigeria spent $3bn in four years on servicing commercial loans, including Eurobonds and Diaspora bonds, according to an analysis of data on actual external debt service payments from the Debt Management Office. The cost of commercial loan servicing rose from $91.3m in 2016 to $840.1m in 2020, showing an increase of $748.8m or 820.15 per…

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