Nigeria's Finance Minister Taiwo Oyedele said on Tuesday that developing countries are paying $500 billion more than they should to refinance debt.
Nigeria's Finance Minister Taiwo Oyedele said on Tuesday that developing countries are paying $500 billion more than they should to refinance debt compared to developed countries.
Citing a communique for the Group of 24 nations, Oyedele said debt vulnerability is a major barrier to inclusive growth in developing countries, adding that the group expects the World Bank and others to deliver at least $300 billion a year in private finance by 2035.
Nigeria's total public debt as of June 2026 stood at about $120.9 billion, with $54.5 billion in external debt and $66.4 billion in domestic debt.
That is according to data published by Nigeria's Debt Management Office, a government agency tasked with coordinating the management of the county’s debt.
The total debt represented an increase of about $24 billion from the previous year.
Niger declares 'severe environmental incident' after oil blowout
Footage broadcast on the evening news showed crude oil gushing several metres into the air.
Namibia detects foot-and-mouth disease outbreak in second region
Namibia has detected foot-and-mouth disease (FMD) in the Zambezi Region, making it the second area affected by an outbreak.
Kenya registers no new Ebola case from 293 tests
Kenya has not recorded any new cases of Ebola after conducting 293 tests since a positive patient died on October 5, 2026.
All rights reserved. Newstimetr © 2026
