Nigeria, Sept. 23 -- Across Africa, rising debt burdens and the high cost of borrowing have renewed concerns about the terms under which governments take loans and how those debts are managed.

For instance, Nigeria's public debt stood at N159.35 trillion as of 31 March, according to the Debt Management Office (DMO). Of this amount, N87.40 trillion was domestic debt, while N71.95 trillion was external debt.

PREMIUM TIMES reported that African countries spend about $90 billion every year servicing debt and pay another $75 billion in additional interest because of the high risk premium attached to borrowing,

At the sixth African Conference on Debt and Development (AfCoDD VI) held in August in Nairobi, Kenya, the African Forum and Network ...