Nigeria’s new government and the challenges ahead, By Cheta Nwanze

…Nigeria’s debt situation is a matter of concern that has drawn the attention of various international financial institutions. As reported in 2021 by the World Bank, the country’s total external debt stands at around $33 billion, which is a significant increase from previous years. This rise in the country’s debt can be attributed to the government’s mounting budget deficits and the need to secure funds for infrastructure projects nationwide.

Africa’s largest economy, Nigeria, held an election in February that will usher in a new leadership. Bola Ahmed Tinubu was named president-elect, but the election results have been marred by controversy. The opposition is currently challenging the results at the Presidential Election Petition Tribunal, alleging that the Independent National Electoral Commission (INEC) mismanaged the election.

This controversy will leave Nigeria with a president of questionable legitimacy during a…