Nigeria's Tinubu Calls for Global Financial System Overhaul Amid High Debt Costs

Nigerian President Bola Tinubu has urged an overhaul of the global financial system, stating that Nigeria is projected to spend approximately $11.6 billion on debt servicing in 2026, nearly half of its anticipated government revenue. He criticized the current system for penalizing African borrowers.

14 May, 03:15 — 14 May, 03:15

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myjoyonlineMixed2h ago

Nigeria’s Tinubu urges global finance overhaul as debt costs crowd out spending

Nigeria will spend about $11.6 billion servicing its ‌debt in 2026, nearly half of its projected government revenue, President Bola Tinubu said, as he called for an overhaul of a global financial system he said penalises African borrowers.

By Abubakar Ibrahim

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Nigeria's Tinubu Calls for Global Financial System Overhaul Amid High Debt Costs

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Nigeria’s Tinubu urges global finance overhaul as debt costs crowd out spending

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