Despite a humongous debt profile, the House of Representatives on Thursday passed an additional $1.5 billion and €995 million external loan requests of President Muhammadu Buhari.
The fresh loan is approximately N1 trillion at the official exchange rate.
Peoples Gazette had in March reported that Nigeria’s total public debt under Mr Buhari’s regime rose to N32.915 trillion in December 2020, from N32.222 trillion in September the same year.
Despite the country’s rising debt status, Mr Buhari’s regime continues to take foreign loans to service the…
