Nigeria’s debt rose 38% to N17.4trn in 2016 – debt office

Nigeria’s debt rose 38% to N17.4trn in 2016 – debt office

Nigeria’s total debt rose to 17.36 trillion naira ($56 bln) as of Dec. 2016 from 12.60 trillion naira a year earlier, the Debt Management Office said, as the country grappled with its first recession in a quarter of century caused by low oil prices. Africa’s biggest economy expects a budget deficit of 2.36 trillion naira…

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