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Photo Source: Vanguard
The World Bank has listed Nigeria as one of the top 10 most indebted countries of the world.
The bank, in a statement on the nature of its debt crisis and growth, said Nigeria was the fifth largest debt-ridden country with N4.8Trillion ($11.7bn) in debt.
India leads with over N9Trillion ($22bn), followed by Bangladesh with N7.4Trillion ($18.1bn).
Pakistan also has over N6trillion ($16.4bn) in debt and Vietnam over N5Trillion ($14.1bn).
Other countries in the top 10 include Ethiopia at N4.6Trillion ($11.2bn), Kenya at N4.1Trillion ($10.2bn), Tanzania at over N3Trillion ($8.3bn), Ghana at N2.3Trillion ($5.6bn), and Uganda at N1.8Trillion ($4.4bn).
Nigeria ranks 5th according to the statement.
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