World Bank Projects Nigeria’s Debt-to-GDP Ratio to Drop Below 40%, Amid Concerns Over Renewed Borrowing Risks

The World Bank projects that the country’s public debt will fall below 40 percent of GDP for the first time in more than a decade. The development marks a notable shift for Africa’s fourth-largest economy, which has faced years of fiscal strain driven by weak oil revenues, heavy borrowing, and high cost of governance. The

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