Why Nigeria’s Debt Crisis Is Not Ending Anytime Soon

Nigeria has arguably the biggest economy in Africa, yet, it ranks 40th among African countries in revenue Gross Domestic Product ratios in 2021, owing to its low production, exports, and heavily dependent oil economy that has been prone to recessions whenever there is a massive dip in oil prices.

The current Muhammadu Buhari-Led administration came in 2015 and promised to address the problems that posed significant challenges to the country’s development. However, the administration made a wrong move by imposing border restrictions to majorly encourage economic diversification and agriculture production for a state that had not yet matured enough to produce for its citizens….

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