Nigeria Faces Challenges of Politicking, Rising Debt in 2020
- Country also at risk of rising inflation, currency devaluation
- Debt defaults may rise as banks face pressure to lend more
Vendors sit in stalls in Lagos, Nigeria.
Photographer: George Osodi/BloombergThis article is for subscribers only.
Nigerian President Muhammadu Buhari is due to complete his second and final four-year term in 2023 and the battle over who will succeed him is already heating up, placing further pressure on an already strained economy.
Buhari has thus far shied away from endorsing his deputy, Yemi Osinbajo, for the position, twice slighting him by opting not to transfer power to him while traveling abroad. That may diminish his chances of securing the top job.