After The Write-Off, Why Nigeria Is Back In Heavy Debt

In 2005, Nigeria secured a landmark debt relief deal that erased billions in foreign debt and offered the promise of economic stability under President Olusegun Obasanjo. Nearly two decades later, that relief appears distant as Nigeria’s debt has risen again, with intensified borrowing raising fresh concerns. On Nigeria Daily today, we examine how the country moved from debt forgiveness to mounting obligations and what this means for the economy and ordinary Nigerians.