Domestic debt servicing gulps n3 72tn in three years

A very specific and interesting topic!

According to the article, the domestic debt servicing in Nigeria has gulped a staggering N3.72 trillion in just three years. This is a significant amount of money that could have been used for other important sectors of the economy.

To put this figure into perspective, N3.72 trillion is equivalent to approximately $10.2 billion USD. This is a huge sum of money that could have been used to fund critical infrastructure projects, improve healthcare, education, and other essential services.

It's worth noting that domestic debt servicing refers to the interest payments and principal repayments made by the government to its domestic creditors, such as banks, pension funds, and other financial institutions. This is in addition to the external debt servicing, which involves paying interest and principal on foreign loans.

The high cost of domestic debt servicing in Nigeria is a concern because it puts pressure on the government's finances and limits its ability to invest in other areas. It's essential for the government to find ways to reduce its debt burden and allocate more resources to critical sectors of the economy.

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