Nigeria may get relief on its $100.06b external debt if Vice President Yemi Osinbajo pushes through talks on a debt-for-climate (DFC) swap with some creditors.
It was said yesterday that the Federal Government is upbeat about reaping huge benefits from the DFC arrangement being sold to the global community by the Osinbajo-led delegation.
Osinbajo presented the DFC swap deal last week in the United States (U.S.) at different fora and events, including at the White House.
He said: “The proposed Debt-for-Climate swaps would be a very useful intervention and helpful as it will reduce debt burdens while advancing the Climate Change objectives of the international community.”
In a statement by Senior Special Assistant to the President on Media and Publicity in the Office of the Vice President, Mr. Laolu Akande, the Presidency said the debt relief would be in billions of dollars.
According to the statement, the idea, described as fresh thinking in Washington D.C by senior American government officials, is already receiving positive appraisals even as the vice president explained the potential for significant debt cancellation for African countries.
