The Nigerian government has expanded its foreign debt profile, with fresh data revealing increased amounts owed to several countries, notably France.
This uptick in external debt reflects the country’s ongoing struggle to finance infrastructure, stabilize the economy, and manage budget deficits.
According to recent reports, France has emerged as one of Nigeria's growing creditors, joining the ranks of other bilateral lenders.
The amount owed to France has risen in recent months, marking a shift in Nigeria’s borrowing pattern.
Meanwhile, China remains Nigeria’s top bilateral lender, holding a significant portion of the country’s foreign debt.
The Asian powerhouse continues to provide loans largely tied to infrastructure projects, including railway development and power generation.
Analysts warn that while access to international credit can help bridge funding gaps, it also raises concerns about long-term sustainability, especially with rising interest obligations and currency volatility.
With Nigeria’s total debt climbing, stakeholders are calling for more transparency and a clear repayment strategy to avoid future economic strain.
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