Nigeria’s Debt Servicing To Deplete Revenue By 2026

Jun 3, 2022 · 1m 1s
Nigeria’s Debt Servicing To Deplete Revenue By 2026
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The International Monetary Fund has warned that the Nigerian government may spend nearly 100 per cent of its revenue on debt servicing by 2026. The IMF's Resident Representative for Nigeria,...

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The International Monetary Fund has warned that the Nigerian government may spend nearly 100 per cent of its revenue on debt servicing by 2026.
The IMF's Resident Representative for Nigeria, Ari Aisen, says the biggest critical aspect for Nigeria is that they have done a macro-fiscal stress test, and the interest payments as a share of revenue and as you see us in terms of the baseline from the federal government of Nigeria, the revenue, almost 100 per cent, is projected by 2026 to be taken by debt service.
IMF also warned that with fuel subsidy payments averaging N500 billion monthly, total expenditure on subsidy could hit a record N6 trillion by the end of the year.
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Author Africa Business Radio
Organization Africa Business Radio
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