As of December 2023, Nigeria, including the 36 states and the federal capital territory, had a public debt of N97.34 trillion. The debt has increased from...
The Zamfara State Governor, Dauda Lawal, has denied reports by the Debt Management Office (DMO) that his government borrowed the sum of N14.26 billion since assuming...
International Breweries Plc will at an Extra-ordinary General Meeting (“EGM”) to take place on April 9, 2024 seek shareholders’ approval to convert an intercompany loan of...
The Minister of Power, Chief Adebayo Adelabu, has identified issues hampering effective electricity supply in Nigeria. The minister while speaking to newsmen on Wednesday in Abuja,...
There is yet to be an end to the controversies surrounding the about N120 billion owed telecommunication companies by banks in the country for the Unstructured...
Nigeria has maintained its fourth position on the World Bank’s top 10 International Development Association (IDA) borrowers’ list, after moving up from fifth position in the...
The Federal Government is about securing another $1.5 billion loan from the World Bank, despite mounting debt pressure hanging on the country. The new $1.5 billion...
The World Bank’s chief economist, Indermit Gill, on Wednesday, warned that interest rate hikes could spell trouble for countries struggling to deal with debt. In order...
The National Bureau of Statistics (NBS) published that Nigeria’s public debt stock rose to N87.38 trillion in the second quarter of 2023 (April to July). The...
The Manufacturers Association of Nigeria (MAN) said the Federal Government is placing its N77 trillion debt burden on manufacturers through high and multiple taxes. In the...
Abia State governor, Dr Alex Otti has said the delay in the payment of salaries and arrears of pensions he promised was a result of fictitious...
The Debt Management Office (DMO) has allayed the fears on the transfer of the Federal Government’s N22.7 trillion debt burden to Nigerians. The Senate on Thursday...
The World Bank has revealed that Nigeria spends 96.3 percent of government revenue on servicing debt in 2022. This means that the country spends N96 out...
A High Court of the Federal Capital Territory (FCT) in Abuja has issued an order blocking N3.5 billion funds standing to the credit of Oyo State...
The Osun State government claimed on Thursday that former governor Gboyega Oyetola left behind a debt burden of N76bn in unpaid salaries, pensions, and insurance commitments....
Amid politicking on who will be the next president of Nigeria, details have emerged that Nigeria’s next president will be burdened with over N24.7 trillion in...
The Central Bank of Nigeria (CBN) has said that Nigeria cannot stop burrowing, especially when it is necessary as it is part of fiscal responsibility. The...
States in Nigeria are in dire strait and desperately looking for means to pay salaries and cover budget expenses amid dwindling allocation from the federation account....
The Federal Capital Territory Administration (FCTA) has said that some offices, plazas and other business premises belonging to the government will be closed down due to...
The Nigerian government has announced the schedule for its domestic borrowing plans for the first three months of 2022 from citizens. The Debt Management Office (DMO)...
Last Monday, the Debt Management Office (DMO) revealed that Nigeria’s total public debt rose to N38.005 trillion as at September 30, 2021. DMO in a document...
Nigeria’s public debt stock has increased by N2.5 trillion in three months to N38.005 trillion as of the end of the third quarter of 2021, Ms....
The debt burden of the world’s 47 low-income countries, including Nigeria, rose 12 percent to a record level of $860 billion in 2020. This is according...
Oil and gas company, Seplat Energy Plc, has over N22 billion in Nigerian commercial banks that it can’t access amid a debt profile of about $700 million. Both...
The People’s Republic of China has assured Nigerians that the country would not slip into a debt trap since its loans are mutually beneficial. Mr Cui...
Against the backdrop of reports over a N14bn debt owed to the Federal Airports Authority of Nigeria (FAAN) Bi-Courtney Aviation Services Limited (BASL) the operator of...
Despite the backlash that trailed Nigeria’s consistent borrowing, the country has one of the lowest debts to Gross Domestic Product (GDP) among peers. Latest data from...
Effective March 15, Nigerians, who make use of the Unstructured Supplementary Service Data (USSD) shortcode for financial transactions, may experience difficulties in carrying out their transactions....
Ecobank’s $300 million bond which will be listed on the London Stock Exchange (LSE) has been oversubscribed by foreign investors during the marketing of the transaction....
In 2020, Nigeria spent N3.2 trillion paying its debt. The Minister for Finance, Zainab Ahmed disclosed this during a public presentation of the 2021 FGN approved...
The total debt of the Nigerian government (not including states and the Federal Capital Territory) came to N24.52 trillion at the end of March, the Central...
The International Monetary Fund (IMF) on Monday granted debt relief to a group of 25 countries largely dominated by African nations. It identified the beneficiaries as...
There is renewed concern about the sustainability of rising debt levels in many African countries. Much of this debt is being incurred through foreign currency denominated...
There are Africans that call for the return of their colonial masters that can be held responsible since African politicians are worse. So irresponsible, these politicians...
The Director-General of the Debt Management Office (DMO), Ms. Patience Oniha, said on Friday domestic borrowing accounts for 68 percent of Nigeria’s total debt profile of...
If the plan sails through legislative scrutiny, the Federal Government will be borrowing a fresh N4.6tn within the next three years, covering 2020 to 2022 to...
A former Director of Legal Services at the Ministry of Petroleum Resources, Mrs Grace Taiga, has been ordered remanded in prison custody by the Apo Division...
Oyo State Governor, Seyi Makinde has threatened to expose his predecessor, Abiola Ajimobi if he does not stop disturbing his government. Makinde made the threat on...
Apparently worried over the debt claim against him, the immediate past governor of Zamfara state, Governor AbdulAziz Yari on Tuesday debunked the allegation that he left...
Vice President Yemi Osinbajo has once again lamented the state of the economy of the administration of former president Goodluck Jonathan especially between 2010 and 2015....
The nation’s debt profile has risen to N22.38 trillion within the last six months, the Debt Management Office (DMO) has said. The current debt profile indicates...
The Federal Government has offered for subscription two savings bonds to investors for August 2018 as part of the capital raising for the 2018 Budget. The...
The Debt Management Office (DMO) said the government would not be able to borrow more than $6.25 billion (N1.91 trillion) in the 2018 fiscal year, even...
The Debt Management Office (DMO) has disclosed that Nigeria’s total debt rose by N4.76tn in 2016. This information was contained in the DMO’s 2016 Annual Report...
Nigeria’s total debt rose to N19.2 trillion naira as of March 2017, from N17 trillion, as at the end of 2016, so said the Debt Management...
The Director-General of the Debt Management Office, Dr. Abraham Nwankwo, has disclosed that Nigeria’s external and internal debt profile as at December 31, 2016, was $57.4bn....
Nigeria’s debt profile has risen to $13.5 billion in September, from $11.26bn in June 2016, recording an increase of 20.5 per cent within four months. According...
The Asset Management Corporation of Nigeria, AMCON, has obtained an interim injunction to seize some assets belonging to businessman, Jimoh Ibrahim over an alleged N50bn billion...
There are indications that the Federal government has opted to reduce total budgetary spending on 2016 capital expenditure by half, as it envisages that the budget...
The management and financial crisis facing Nigeria’s oldest surviving airline, Aero Contractors may have come to a head as the Asset Management Corporation of Nigeria (AMCON)...
