Daily Archives: July 1, 2024

Nigeria spends 50% of GDP value on debt, lower than Egypt, Ghana, S/Africa

Nigeria may have cross the threshold of over 50 per cent of debt to Gross Domestic Product (GDP) ratio for the first time ever, but it feels like some succour that peer countries like Ghana in 2023 had a debt-to-GDP ratio of about 84.9 per cent, while South Africa’s ratio stood at 72.2 per cent. Kenya and Egypt had ratios of 70.1 per cent and 95.8 per cent, respectively.