BREAKING: Nigeria’s Debt Profile Rises, See New Debt Profile

BREAKING: Nigeria’s Debt Profile Rises, See New Debt Profile

The Centre for the Promotion of Private Enterprise (CPPE) has said Nigeria’s debt profile could be in excess of N50 trillion.

Onyxnewsng reports that the Debt Management Office (DMO) had earlier reported that the country’s debt profile has risen to N39.56tn.

But according to the Chief Executive Officer, CPPE, Dr Muda Yusuf, the new economic report is a review of Nigeria’s economic performance for the first quarter of 2022.

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The CPPE boss stated that borrowings from the Central Bank of Nigeria (CBN) were yet to be added to the debt stock reported by DMO.

He argued that it was better for Nigeria to take loans from the World Bank, International Monetary Funds (IMF) and other institutions as they were cheaper.