If Nigeria Breakup Right Now, Who Will Pay The Debt We Owe China? (SEE THIS)

Posted by E.L.E.X on May 15 2021 under News

Have any of you thought about this before? What will happen if Nigeria disintegrate without clearing our debts to China? WAHALA!

Official figures show that Nigeria’s debt to China grew 136% between September 2015 and September 2020, from $1.4 billion to $3.3 billion. Buhari started his first term in May 2015.

As of December 2020, the most recent official data available, Nigeria’s public debt was N32.9 trillion, or $86.3 billion. This is according to the country’s debt management office.

What Happens When A Country Cannot Pay It Debt?

When a country couldn’t pay off it debt, it’l is known as a sovereign default. For instance, when a company fails to repay its debt, creditors file bankruptcy in the court of that country. The court then presides over the matter, and usually, the assets of the company are liquidated to pay off the creditors. Same applicable to a country that failed to repay its debt to China.

Right now everyone is calling for breakup. The Yoruba want their own Republic, the Igbo want Biafra, South South want Niger Delta Republic.

The question is,

If Nigeria Breakup Right Now, Who Will Pay The Debt We Owe China?

YOU MAY ALSO LIKE

A new mom has gone viral after she shared a video of her horrible tummy after childbirth (SEE VIDEO)

Where is your faith? What is wrong with you? Pastor Chris Oyakhilome, has slammed Pastors who are endorsing the COVID19 vaccines instead of healing their members (SEE VIDEO)

Ondo’s PDP Primary: Agboola Ajayi Accepts Defeat, Congratulates Eyitayo Jegede

Protest Against Obaseki’s Proposed N20 Billion Loan (Photo)

Is This Right? Bishop Oyedepo Seen With “9 Bodyguards” At Shiloh 2019 (See What Nigerians Are Saying)

Comments

Add Comment

All fields are required!