Although, there are pending huge debts to service, the commercial loans obtained by Nigeria through Eurobonds stood at $9.37 billion, counting from December 31, 2015 to December 31, 2020.
In December 31, 2015, Eurobonds loans rose to $1.50 billion and in December 31, 2020, it rose to $10.87 billion indicating 625 percent increase in five years.
Breaking down the process, the debt stock remained at $1.5bn from 2015 to 2016, but rose to $6bn by 2017, indicating a $4.5bn or 300 per cent rise within a year.
It additional rose to $10.87bn in 2018, indicating an increase by $4.87bn or 81 per cent. It remained at this figure till the end of 2020.
From all indications, the Federal Government still intends to seek more funding through Eurobonds, which would further increase Nigeria’s Eurobonds debt stock.
Peter Brook: British Foremost Stage Director dies aged 97
OJUDE OBA FESTIVAL 2022: COMMITTEE LAUDS RITE FOODS LTD FOR SPONSORSHIP OF CULTURAL HERITAGE
5 US Senators Push to Redesignate Nigeria as Religious Freedom Violator
UK and New Zealand to Expand Working Holiday Visa Schemes
NNPC says $1bn natural gas sold to Portugal in 2022
Winners emerge in the GoNigeria English Rap Challenge
Pictorial : Ekiti Gov-elect, Oyebanji, Visits Fayose In Lagos
Israeli Lawmakers dissolve Parliament, Election Set for November 1
Osun court awards N6m compensation against police over illegal invasion
Chelsea FC to Investigate Club’s Bullying Claims
Join our Facebook Fan page
Entertainment3 months ago
Standing Ovation Greets Zadok’s Performance in the Ongoing Bigi Sponsored Nigeria Idol Season 7
News3 months ago
FULL LIST: Adamu For Chairman, Omisore As Secretary, APC Endorses 54 Consensus Candidates
News3 months ago
GoNigeria Offers Young Nigerians N1m Star Prize amongst Other Incentives, … Set to Hold 2nd Quarter Digital Poetry Challenge.
Business3 months ago
Poor Nigerians to hit 95.1m in 2022 – World Bank