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  • Updated: 5 months ago

Nigeria Ranks Among 10 Most Indebted Countries of the World

Nigeria Ranks Among 10 Most Indebted Countries of the World

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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