In 2004 the Centre for Global Development (CGD) noted that it supported Nigeria in securing a relief package from her Paris Club creditors.
The CGD began working on Nigerian debt issues to provide analytical support and to persuade its creditors to agree to an appropriate debt relief package and in October 2005 Nigeria and the Paris Club announced a final agreement for debt relief worth $18 billion.
Based on this verifiable report, we can confirm that the Obasanjo-led administration cleared a large amount of the country’s debt but it left behind $2.11 billion foreign debt. Hence, the claim is misleading.
