Published in Economy
Nigeria’s debt to Gross Domestic Product (GDP) ratio has been on the increase over the last 8 years. It has increased significantly from 12.54% in 2014 to 21.34% in 2020.
November 19th, 2021
Nigeria’s debt to Gross Domestic Product (GDP) ratio has been on the increase over the last 8 years. It has increased significantly from 12.54% in 2014 to 21.34% in 2020.
The higher the debt to GDP ratio of a country, the less likely it is for a country to pay back its loans and the higher its risk of default.
A study by the World Bank revealed that if the debt to GDP ratio of a country exceeds the 77% threshold for developed nations and 64 percent in emerging markets, it significantly slows down real economic growth.
Dataphyte’s Advisory Note “Nigeria’s Post Oil Economy: Going the Housing Consumer Credit Path”provides more insight on this subject.
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Today, a new generation of Nigerians live through the country’s prolonged battle with two of its biggest socio-economic deficiencies – a protracted housing deficit and recurrent budget deficits.
A recent review of the 2019 Auditor General’s report by Dataphyte reveals that there was an unexplained net change of N668.162 billion in reserves of the consolidated statement of changes in net assets and equity.
Leading Media research and data analytics organisation, Dataphyte has released its maiden Dataphyte Advisory Note titled “the Nigerian post-oil Economy Advisory Note.
Nigeria’s debt to Gross Domestic Product (GDP) ratio has been on the increase over the last 8 years. It has increased significantly from 12.54% in 2014 to 21.34% in 2020.
