28 October 2011
The Senate yesterday disclosed that
Nigeria 's total debt now stands at a whopping US$39.72 billion (N6.02 trillion of which external and domestic debts are US$5.398 billion and N5.210 trillion respectively) barely five years after the full repayment of the country 's foreign debt. These figures were disclosed at the inauguration of Senate Committee on Foreign and Local Debts by its Chairman, Senator Ehigie Uzamere (ACN, Edo).
The Senator said: "This amount is unsettling and called for concern".