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Obasanjo says Nigeria faces impending...

Former President Olusegun Obasanjo yesterday in Lagos...

Obasanjo says Nigeria faces impending bankruptcy

Former President Olusegun Obasanjo yesterday in Lagos expressed deep concern about Nigeria’s current debt profile and warned the Federal Government against “impending bankruptcy.” Obasanjo was a keynote speaker at the “Why I am Alive” campaign celebration in Lagos yesterday Nigeria’s external debt, he said, grew by as much as 700 percent to N24.947 trillion ($81.2.74 billion), from $10.32 billion in just four years (2015), meaning that the country would have to commit half of its foreign earnings to servicing its current level of indebtedness. “Such a situation talks about impending bankruptcy,” the...

Obasanjo says Nigeria...

Former President Olusegun Obasanjo yesterday in Lagos expressed deep concern about Nigeria’s current debt profile and warned the Federal Government against “impending bankruptcy.” Obasanjo was...
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