Nigeria allocated $5.47 billion to foreign debt servicing from January 2024 to February 2025, according to the Central Bank of Nigeria (CBN). This substantial expenditure underscores the escalating strain on the nation’s external reserves and fiscal health due to mounting debt commitments.
The CBN’s data highlights the financial challenges facing Nigeria as it navigates its obligations to international creditors, emphasizing the need for strategic fiscal management to maintain economic stability. The continued pressure on external reserves highlights the importance of addressing these debt servicing demands within the broader economic framework to ensure long-term financial sustainability.
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