The Federal Government of Nigeria has clarified that it is not seeking debt forgiveness from China, despite ongoing discussions about debt relief in international forums.
Minister of Foreign Affairs Yusuf Tuggar made this statement during an appearance on Channels Television’s Sunday Politics.
Addressing concerns over Nigeria’s debt situation and interactions with Chinese officials, Tuggar said, “No, that is not what we are discussing with China.
And when it comes to the issue of debt, look at the debt-to-GDP ratio of Nigeria; we are not even among the critically indebted nations.” He emphasized that Nigeria is advocating for global debt relief measures, particularly at the United Nations General Assembly....Read Full Article [Click Here>]
Tuggar noted that China is actually willing to extend additional loans and increase investments in Nigeria’s infrastructure. “As a matter of fact, China is prepared to lend more; China is prepared to invest more in Nigeria in terms of infrastructure development and other things,” he stated.
While Vice President Kashim Shettima has urged global leaders to prioritize debt forgiveness for Nigeria, Tuggar emphasized that such processes are gradual and require sustained engagement, reflecting on Nigeria’s past experiences with debt relief under former President Olusegun Obasanjo.
