Follow CGSP on Social Media

Listen to the CGSP Podcast

The Nigerian Government’s Seemingly Endless Effort to Correct Misinformation About the Country’s Debt

by Eric Olander

Nigeria’s Debt Management Office, once again, issued a breakdown of the country’s debt to external creditors in a bid to push back against the widely-held, yet misinformed perception that the country is in debt beyond its capacity — mostly to China.

On Friday, the DMO responded to a Freedom of Information request from a law firm that wanted to know about “external loans of $76 billion incurred by the federal government.”

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

Opposition Leaders in Nigeria’s House of Representatives Concerned about Pause in Investigation Into Chinese Loans

PDP opposition legislators from the House of Representatives took to the media on Monday to voice their concerns that a three-week postponement will jeopardize the investigation into Chinese loans.  The House of Representatives ...

Transport Minister Pushes Back Against Accusations that Chinese Loans Compromise Nigeria’s Sovereignty

Nigeria’s Transportation Minister Chibuike Amaechi went on national television in an effort to tamp down the controversy erupting over whether Chinese loans will compromise the country’s sovereignty. The issue surfaced last week when ...

As Nigeria’s Debt Steadily Grows, China’s Share Shrinks — Yet Somehow Lots of People Still Worried About “Debt Traps”

Nigeria’s Debt Management Office (DMO) announced late last week that the country’s external debts will increase to $83 billion due to $2.5 billion of new loans provided by the World Bank ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe