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The chains of debt: Africa’s looming crisis

Reflecting on the current state of Africa’s economy, I am compelled to sound the alarm on the escalating debt crisis that threatens to strangle the continent’s development. The numbers are staggering – Africa’s total external debt has exceeded $1.3tn, with debt servicing costs reaching $89bn this year alone. Nigeria, my home country, is one of the hardest hit, with a total public debt of N152.4tn. [...]