Some Civil Society Organisations, (CSOs) have raised concern over Nigerias rising debt profile describing it as a debt trap already worsening the countrys crisis-ridden economy and costing the nation its foreign assets. The CSOs consisting of the Civil Society Legislative Advocacy Center, (CISLAC) and Christian Aid in partnership with Transparency International, TI), noted that Nigeria is presently in a debt crisis with a fiscal deficit well above the statutory threshold of 3 percent, an increasingly unsustainable debt profile and a rising debt servicing that has been worsened by rising interest…
Read MoreNigeria risks losing foreign assets to reckless borrowing – CSOs warn
