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Nigeria’s debt portfolio hits 33.1 trillion naira in Q1

Nigeria’s total debt portfolio rose to 33.1 trillion naira in the first quarter for the year with external debt at 37.67 per cent while domestic debt was at 62.33 per cent. Fitch Ratings says it expects Nigeria’s debt-to-revenue ratio to reach 395 per cent by 2022. Meanwhile, the landing cost of Premium Motor Spirit imported into Nigeria surged over 60 per cent between December 2020 to 231-naira 98 kobo per litre as of mid-June this year. Johnson Chukwu, Managing Director and CEO of Cowry Asset Management joins CNBC Africa for more.

Mon, 28 Jun 2021 11:55:19 GMT

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