World Bank flags Nigeria’s deteriorating fiscal position

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Nigeria’s fiscal position is deteriorating resulting in higher debt and shrinking investments in human capital and infrastructures, the World Bank Group has said in a new report on Wednesday.

The total public debt stock of Africa’s largest economy stood at N35.5 trillion as of June 30, data from the Debt Management Office indicated.

Federation revenues will be significantly lower in 2022 than in 2020, mainly due to lower net oil and gas revenues, the World Bank said…