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Nigeria Spends 86% Revenue on Debt Servicing

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Nigeria spent 86 per cent of its revenue on servicing debt in 2021.

According to the International Monetary Fund’s Article IV, Africa’s most populous nation spent 85.5 per cent of its revenue on servicing the debt in 2021.

Written by: Helen Obih

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Somalia Elects New President

Somali legislators have elected former leader, Hassan Mohamud as the country’s next president. Mohamud, who served as Somalia’s president between 2012 and 2017, won the contest, amid a security lockdown imposed by authorities. The president conceded defeat, and Mohamud was immediately sworn in.

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