Follow CGSP on Social Media

Listen to the CGSP Podcast

Nigerians’ (Misplaced) Anxiety About Chinese Debt

by Eric Olander

For years, Nigerian politicians and media reports have issued breathless warnings about the dangers of becoming too indebted to China, fearing the dreaded “debt trap” and the risk of surrendering the country’s strategic assets.

While the economic risks associated with taking on too much debt are indeed relevant in Nigeria today where the government now owes creditors more than $100 billion, China, though, is not the problem. Chinese loans, in fact, account for just around 4% of total public debt.

Lead the Conversation on China

Subscribe Today to Get Full Access to The China-Global South Project

Check Out Everything You'll Get With Your Subscription

The China-Global South Daily Brief delivered to your inbox at 6AM Washington time

Full access to exclusive news and analysis from editors based in the Global South

Transcripts of CGSP’s twice-weekly podcasts

Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.

You Might Like

Why the “Professional Pessimists” Are Wrong About Africa’s Economic Future

Africa’s economic landscape today looks bleak. Debt levels, unemployment rates and bankruptcies are all on the rise across much of the continent. And it doesn’t ...

Magalie Masamba on What It’s Going to Take to Resolve Africa’s Debt Distress

Until a few years ago, before the pandemic, most African economies were among the world’s best performing in terms of debt. Revenues were ...

Is China Setting the Agenda for Global South Debt Restructuring?

In June, Zambia reached what’s been described as a landmark debt restructuring deal that for the first time brought together the country’s bilateral ...

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.