Climate deal: Nigeria to reap billions of dollars in debt relief — Osinbajo

Written by on September 5, 2022

Vice President Yemi Osinbajo says the Federal Government will be reaping billions of dollars in debt relief from some creditors if the Debt-for-Climate (DFC) swap deal is accepted.

Osinbajo’s spokesman, Laolu Akande, in a statement on Sunday in Abuja, said the swap deal was proposed recently in the U.S. by the vice president.

The idea, described as fresh thinking in Washington D.C by senior American government officials, is already receiving positive reviews even as Osinbajo explained the potential for significant debt cancellation for African countries.

Guardian reports that In his meetings with the top officials of the US Government right after his speech at the Centre for Global Development (CGD), Osinbajo pushed the DFC idea.

Current track