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