FG, states debts near N107tn, naira fall raises loans

Nigeria’s total debt (Federal Government and states’ loans) may hit at least N107.38tn soon following the approval of fresh borrowings for the Federal Government and new securitisation of the Central Bank of Nigeria’s N7.3tn Ways and Means advances. This is as the Senate, as of December 2023, approved President Bola Tinubu’s request to borrow $7.8bn