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Nigeria’s Debt Trap Fears as Servicing Doubles

Vincent Nwanma

Vincent Nwanma is a seasoned analyst, columnist, and reporter with over 30 years of experience in business and economics journalism across Nigeria and Africa.
  • Central Bank reports sharp increase in debt servicing costs
  • Rising debt burden sparks concerns over economic impact

 

Lagos, Nigeria – Nigeria’s debt servicing costs in the first five months of 2024 nearly doubled compared to the same period in 2023, according to figures from the central bank released this week.

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