728 x 90

Debt ceiling rises again in Nigeria

Photo by Oyemike Princewill- Ask Nigeria

As the value of Naira lowers, the costs of borrowing increase substantially.

TVC News Nigeria gives us a report on current debt increases in Nigeria.

Nigeria’s debt is increasing at an alarming rate. The country owes around N39.5 trillion as of early 2022, and the amount continues to grow. This is a major problem for Nigeria, as it significantly limits the country’s ability to invest in important infrastructure, education, and health care projects. Additionally, the high levels of debt make it difficult for Nigeria to attract foreign investors, which is essential for economic growth. There are a few possible ways to address this issue. One option is for the Nigerian government to take steps to reduce the amount of debt. This could involve increasing revenue through tax reform or cutting spending in certain areas. Another option is to get more help from the international community. The government could work with organizations like the IMF to secure additional funding.


Related Links

Channel Name: TVC News Nigeria
Video Link: LINK
Youtube Channel: Subscribe

The content on AskNigeria.com is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. There is data available online that lists details, facts and further information not listed in this post, please complete your own investigation into these matters and reach your own conclusion. AskNigeria.com accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website. The provided content is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. AskNigeria.com accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website.

Fact Checking Tool – Snopes.com

1 comment
1 Comment
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Ask Nigeria
2 months ago

Debt ceiling rises again in Nigeria – As the value of Naira lowers, the costs of borrowing increase substantially.Express your point of view.

Latest Posts

Latest Multimedia

Latest Classifieds

Eastcoast Auto Services

  • East24 views
  • 5 days ago
  • Mechanic Services
  • Ontario, Canada

SOJSUYA

  • Sojsuya71 views
  • 4 weeks ago
  • Food Services
  • Ontario, Canada