Nigeria To Face $81.274bn Debt Bankruptcy – Obasanjo


Former Nigeria President, Olusegun Obasanjo, has said Nigeria faces the risk of impending bankruptcy, over the continuous accumulation of debt by the government.

Obasanjo expressed this while talking as a keynote speaker at the ‘Why I am Alive’ crusade on Friday in Lagos.

As indicated by him, the accumulating obligations would leave a weight for people in the future, who might need to pay such advances.

Obasanjo said as at 2015, Nigeria’s all out outer obligation was about $10.32bn. By March 2019, he asserted the nation’s outside obligation had expanded to $81.274bn.

“Such a situation talks about an impending bankruptcy. No entity can survive while devoting 50 per cent of its revenue to debt servicing.

“It has recently been pointed out that in 2018 that total debt servicing took over 60 per cent of government revenue.

“What’s more, we are not doing enough to address the fundamental, deep-seated and structural challenges that inhibit the expansion of our economy,” Obasanjo said.

Obasanjo added that to intensify matters, the present organization was right now trying to add another $29.6bn advance to “our as of now overburdened obligation portfolio.”


  1. I don’t even know the way I stopped up here, however I thought this post was once good.
    I do not recognize who you are however definitely
    you’re going to a famous blogger when you aren’t already.


  2. I just could not leave your site before suggesting that I extremely loved the standard information a person provide on your visitors?
    Is gonna be back regularly to investigate cross-check new

  3. Hello There. I found your blog using msn. This is an extremely well written article.
    I’ll make sure to bookmark it and come back to read more of your useful info.
    Thanks for the post. I’ll definitely comeback.

  4. A person necessarily assist to make significantly articles I’d state.

    This is the very first time I frequented your web page and so far?
    I surprised with the analysis you made to create this actual put up amazing.
    Wonderful process!

  5. Fantastic beat ! I wish to apprentice while you amend your site, how could
    i subscribe for a blog web site? The account aided me a acceptable
    deal. I had been a little bit acquainted of this your broadcast provided brilliant
    clear concept

  6. Hey there! I understand this is sort of off-topic however I needed to ask.
    Does managing a well-established website like yours require a massive amount
    work? I’m completely new to operating a blog however I do write in my journal on a daily basis.
    I’d like to start a blog so I can share my experience
    and thoughts online. Please let me know if you have any recommendations or tips for new aspiring bloggers.


Please enter your comment!
Please enter your name here