Bankruptcy awaits Nigeria as she piles up debt: Olusegun Obasanjo - Speakers Den

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Sunday, December 29, 2019

Bankruptcy awaits Nigeria as she piles up debt: Olusegun Obasanjo

Olusegun Obasanjo


The former president of Nigeria, Chief Olusegun Obasanjo said Nigeria is liable to face bankruptcy in the future, as she continues to pile up debt.

The ex-president said this at the 'why I'm alive' campaign where he was a Speaker on Friday.

He said that Nigeria's external debt has gone from over $10billion to over $86billion within 2015 to 2019.
He said at this rate the country will have to use 50% of her foreign income in servicing the debt owed.

Obasanjo also expressed his fear for the future generation that will have to pay up such debt.

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