Category: Africa Economy

She admitted that global financial systems might indeed be hurting Africa.

At the inauguration of Buhari’s administration in 2015, Nigeria’s debt profile was N12.6 trillion but has now jumped to over N80 trillion in 2023.

UNCTAD said, “In Nigeria, a shortage of cash, triggered by the replacement of the highest denominations of the country’s currency, hobbled the economy, especially the informal sector.

The Federal Inland Revenue said it collected N10 trillion in revenue in 2022, with a 2023 budget expenditure of N21.83 trillion pegged on deficits of N11.34 trillion.

According to him, insecurity largely caused the death of the businesses that denied farmers access to their farms, adding that inadequate access to affordable funds, high cost of doing business, inflation, and lack of access to local, regional and global markets, among others, were also factors.

“I’ve never gotten used to how I feel about the wickedness of the leaders of our nation.