"Monitoring how the Nigerian government spends emergency loans and international assistance . . . is critical." But world's model, G20, doesn't support financial checks & balances on nations, so expect bigger defaults than Argentina. Future for creditors and savers is bleak.
COVID-19 in Nigeria 
Fiscal federalism means that if states go bankrupt, the cash-strapped federal government will have to clean up the mess caused by decades of financial mismanagement.
Read @MatthewTPage's analysishttps://www.chathamhouse.org/expert/comment/coronavirus-nigeria-s-fiscal-flu?utm_source=twitter.com&utm_medium=organic-social&utm_campaign=covid-19-2020&utm_content=covid-19-nigeria-coronavirus-response …
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No this regime will just keep borrowing regardless of cost.
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Serious concern for us and yet to see any concrete exit plan or reforms.
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