Nigeria’s Debt Service-to-Revenue Ratio Drops 32% in 17 Months – Tinubu
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President Bola Tinubu announced Nigeria’s debt service-to-revenue ratio decreased from 97% to 65% since taking office 17 months ago.
Tinubu attributed this progress to effective economic management, despite inheriting an economy “on the brink of bankruptcy.”
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Key highlights:
- 97% debt service-to-revenue ratio reduced to 65%
- Nigeria hasn’t defaulted on foreign or domestic obligations
- Economy faces challenges, but “recovery is on the horizon”
- New ministers sworn in to support economic reforms.
