Cardoso: Walking the Tight Rope of Nigeria's Debt Burden, by Rahma Olamide Oladosu     Indeed, Nigeria was sitting on an economic time bomb prior to the dawn of May 29, 2023, and the pressure of debt servicing was the fuse that kept burning. It is baffling...

Nigeria Set to Clear IMF Loan by 2029   Nigeria is on track to fully repay its International Monetary Fund Rapid Financing Instrument loan by 2029. The latest repayment schedule published by the Fund on its website showed that the country had secured approval for an emergency...

N54.99trn Budget Faces Funding Challenges as Debt Servicing Hits N14trn   On Thursday, the National Assembly passed the 2025 budget, totaling N54.99 trillion. The allocation includes N14.32 trillion for debt repayment and N13.64 trillion for recurrent expenses, such as salaries, overhead costs, and general government operations. Economists and...

Nigeria, Africa's Debt Servicing Costs Hit $74bn – AfDB   Nigeria and other African countries require about $74bn for debt servicing this year amid increasingly limited access to affordable liquidity, the Vice President and Chief Economist, Economic Governance and Knowledge Management, African Development Bank Group, Prof...

Nigeria's External Debt Servicing Rises To $2.78bn   Nigeria’s debt servicing in the first seven months of this year rose by 53.63 per cent, or $971.47m, to $2.78bn, up from the $1.81bn recorded in the same period in 2023. This was disclosed in the Weekly International Payments...

FAAC: Debt Servicing Gulps Allocation For Ondo, Osun, Two Others   Most of the Federal Accounts Allocation Committee funds for Osun, Ondo, Kaduna and Cross Rivers states will be used in servicing debts this year. The states, as indicated in their 2024 budget may have to rely...