nigeria debt stock

Nigerian Govt Spends $1.12bn On External Debt Service In Q1

The Central Bank of Nigeria (CBN) has revealed that the Federal Government spent $1.12 billion on foreign debt service in the first quarter (Q1) of 2024. According to data from the CBN, Nigeria recorded a total of $1.61 billion in outflows in

May 10, 2024

Obi Reacts To Poor Performance In 2025 UTME, Calls For Aggressive Investment In Education

Finance & Economy·Politics

Obi Decries Nigeria’s Mounting Debt, Says It’s ‘Unproductive’

Mr Peter Obi, has expressed concerns about Nigeria’s heavy debt burden accumulated over the years which has now reached N97 trillion.

April 2, 2024

IMF Sympathises With Victims Of Kenya Anti-tax Protest

Business

IMF Calls For Urgent Tax Reforms As Debt-stricken Nations Face Mounting Challenges

The International Monetary Fund (IMF) has shed light on the concerning fiscal landscape faced by low-income countries, highlighting Nigeria's growing debt burden.

January 28, 2024

Emerging Economies Face $220bn Budget Cuts Amid Looming Debt Crisis - Oxfam Warns

Business·News

Nigeria, Others’ Debt Will Hit $863bn In 2024 – Report

Sub-Saharan Africa, grappling with a 52.32% surge in external debt to $863.38bn by 2024, is poised for a pivotal year, as Financial Derivatives' report reveals.

January 25, 2024

Democracy Day: Nigeria In A Classical State Capture - Obi

Finance & Economy

Economy: Obi Warns About Danger Of Piling Up Debts By Tinubu’s Govt

Presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi has warned about the danger of increasing debt burden on Nigeria's economy, especially when the fund is not channeled to productive ventures.

January 9, 2024

Tinubu Condemns Violence In Rivers, Orders Police To Secure LG Council Secretariats

Business·News

How Tinubu’s Govt borrowed N2.94trn From CBN To Service Domestic Debt In 6 Months

President Bola Tinubu’s administration has raised eyebrows with N2.94 trillion debt procured from the Central Bank of Nigeria (CBN) via Ways and Means Advances between July and December 2023. In a plea to the Senate, President Tinubu underscored the urgent need to

January 1, 2024

News

Nigerian Govt Wades In, As Banks Lure States Into Debt

Worried by the spate of borrowings by various state governments from commercial banks and the capital market, the federal government has come up with guidelines that sub-national authorities must meet before embarking on domestic borrowing. The Head, Directorate of Legal, Investigation and

November 13, 2023

Finance & Economy

Nigeria’s Debt Crisis Deepens With 183% Debt Service To Revenue Ratio

Nigeria’s debt service to revenue ratio has skyrocketed to 183% during the first quarter of 2023, as disclosed by the Budget Office. This development points to the nation’s financial woes, triggering concerns about fiscal sustainability. The data unveiled within the Budget Office’s

October 17, 2023

Moghalu Highlights How Trump’s Presidency Will Affect African Economies

Business·News

$1.5bn Budget Support Loan: Nigerian Govt Should Cut Cost of Governance Not Borrowing More – Moghalu

Former deputy governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu, has called on Nigeria’s political leaders to cut cost of governance not going to borrow more funds. He stated this in reaction to the current move by the Federal Government

October 16, 2023

News

“Nigeria’s Debt Stock Rose To N39.56trn In 2021”

The Nigerian Electricity Regulatory Commission (NERC) has announced, electricity tariff shall rise, six-monthly as a result of the latest N600billion subsidy removal on power. The Chairman of NERC, Sanusi Garba, disclosed the latest development at a media briefing in Abuja just recently.

March 18, 2022

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Nigerian Govt Spends $1.12bn On External Debt Service In Q1

Obi Decries Nigeria’s Mounting Debt, Says It’s ‘Unproductive’

IMF Calls For Urgent Tax Reforms As Debt-stricken Nations Face Mounting Challenges

Nigeria, Others’ Debt Will Hit $863bn In 2024 – Report

Economy: Obi Warns About Danger Of Piling Up Debts By Tinubu’s Govt

How Tinubu’s Govt borrowed N2.94trn From CBN To Service Domestic Debt In 6 Months

Nigerian Govt Wades In, As Banks Lure States Into Debt

Nigeria’s Debt Crisis Deepens With 183% Debt Service To Revenue Ratio

$1.5bn Budget Support Loan: Nigerian Govt Should Cut Cost of Governance Not Borrowing More – Moghalu

“Nigeria’s Debt Stock Rose To N39.56trn In 2021”

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