VOL. XLV

No 35

2-September-2002

OPEC

Nigeria Cites Drop In Oil ReceiptsFor Decision To Defer Debt Repayments

A sharp fall in oil receipts hasprompted a decision by the Nigerian Government to defer repayment on foreigndebts totaling around $28bn, according to the Governor of the Central Bank of Nigeria, ChiefJoseph Sanusi, speaking on 27 August. Payment ofexternal debt service, which was due and unpaid, was deferred, he said. Nigeriasearnings from petroleum exports in the first six months of this...