Nigeria's public debt rises to N31 trillion | Premium Times Nigeria

The fundamentals and benchmarks in the 2020 Appropriation Act were revised following the adverse impact of COVID-19 pandemic on government’s revenues amid increased expenditure on health and economic emergency stimulus amongst others.

The breakdown of the debt to World Bank’s affiliate institutions showed International Development Association $10.05 billion; and the International Bank for Reconstruction and Development $409.51 million. On the bilateral level, Nigeria’s total debt to various institutions is about $3.949 billion, or 12.54 per cent of the total debt stock.

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