Our fatherland, as we all know, is famous for being a famous debtor. “We thrive on bad news, literally”…

Despite the huge and vast natural resources that the good lord has indeed blessed us with? We still manage to end up at the top of the world’s debtors lists consistently.

1. China

9.7% or N1.2 trillion of all Nigeria’s external debt ($3.3 billion) was owed to the Export-Import Bank of China. This is a state-owned and funded bank that supports China’s foreign trade and investment.

2. Japan

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Japan International Cooperation Agency ($78.20 million)

3. France

Agence Francaise Development ($502.38 million)

4. India

Exim Bank of India ($37 million)

5. Germany

Kreditanstalt Fur Wiederaufbua ($193.26 million).

The country also owes huge debts to four international lenders, they are;

1. Arab Bank for Economic Development in Africa (BADEA)

2. Islamic Development Bank (IDB); International Fund for Agricultural Development (IFAD)

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3. European Development Fund (EDF) $298.12 million.

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