The Bola Ahmed Tinubu administration has put Nigeria in huge debt as it has borrowed nearly N96 trillion in two years, sending shockwaves among citizens. He has submitted proposals at the National Assembly to borrow nearly N39 trillion from multilateral agencies in one fell swoop, taking the nation’s debt profile to nearly N183 trillion.
Last week Tuesday, Tinubu sought the approval of Nigeria’s lawmakers to borrow $21.5 billion, €2.2 billion, and ¥15 billion. He also plans to take a grant totalling €65 million. Tinubu also asked the National Assembly to sanction the issuance of domestic bonds worth N757.9 billion to settle outstanding pension liabilities.
What has been the effect of the removal of fuel subsidy in the administration's economic reform?
Join Let's Talk as Richard Badung will be hosting a Professor in Economics, Professor Yohanna Panshak, Tetfund Desk Officer Plateau State University, Bokkos.
