Saturday, October 29, 2011

The Country's Debt Hits N6 Trillion

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".

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