FG repaid over N25bn principal to World Bank, AfDB in Q2 —FBNQuest

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Out of the total debt service on the federal government of Nigeria›s (FGN›s) external obligations of $287 million in the second quarter  (Q2) of 2020, the principal repayments  amounted to $70 million, principally to the World Bank and African Development Bank (AfDB) groups.

FBNQuest Research, in a note to clients on Friday, noted that total debt service on the FGNss external obligations amounted to $287 million in Q2 2020, divided between $157 million and $130 million on market and non-market debt.

This was $35 million above the year-earlier period.

The firm stated that cost has risen because the FGN has increased its borrowing through soft loans, both multilateral and bilateral,…



Source: Nigerian Tribune