Several African countries including Nigeria have partnered to create a continental credit rating agency to counterbalance Western credit rating agencies’ bias against Africa.   

In Three Months, Nigeria’s Debt Goes up by 75%, Hits N87trn The Debt Management Office has said Nigeria’s total public debt hit N87.38tn at the end of the second quarter of 2023. The figure represents an increase of 75.29 per cent or N37.53tn compared to N49.85tn...

Report Revealed Debt Servicing Rose To N1.24trn In Q1, 2023   Nigeria’s debt servicing cost has increased by 55.71 per cent to N1.24tn in three months. According to data obtained from the Debt Management Office, between October and December 2022, Nigeria spent N406.77bn on domestic debt...

DMO Projects Nigeria’s Debt-to-GDP Ratio To 37.1% Increase In 2023  The Debt Management Office (DMO) has projected that Nigeria’s total public debt could rise to 37.1% of its gross domestic product (GDP) this year, nearing the government’s self-imposed 40% limit. The government of the ex-president Mohammadu...

DMO Canvasses Revenue Growth, Spending Cuts   The Debt Management Office (DMO) in a tweet on Tuesday, stressed the need for Nigeria to boost revenue and manage spending like Indonesia, which is also an oil-producing country. The tweet read, “Indonesia, a fellow oil-producing country with a population...

Experts Says Senate’s N22.7tn Loan Approval May Raise Bond Rates The securitisation of the Central Bank of Nigeria’s N22.7tn Ways and Means advances to the Federal Government by the Senate may push the interest rates of future debt securities higher, capital market analysts have said. The...