Nigeria Spends Over 99% Revenue On Debt Servicing   Nigeria’s grave fiscal position for the 2022 financial year became clearer, as latest data showed that of N4.26 trillion total revenue available for financing the 2022 budget in the first three quarters of last year, a colossal...

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...

FG Spent N408.5bn On Debt Servicing In February   The Federal Government spent 85.37 per cent of its revenue servicing debt in February. The Central Bank of Nigeria, in its monthly economic report for February 2023, noted that the Federal Government had a retained revenue of N478.57bn...

Debt Servicing Rises To $112m Monthly - CBN   Data from the Central Bank of Nigeria’s Weekly International Payments showed that the Federal Government spent $112.35m servicing external debt in January 2023. The amount spent in January was 146.17 per cent higher than the $45.64m spent in...

External Debt: FG Deducts N78bn From States Allocations For Servicing   The Federal Government deducted over N78bn from allocations made to the states for external debt servicing. This was according to data from the Federation Account Allocation Committee (FAAC) Disbursement reports published by the National Bureau of...

NRC Debt Servicing Hit N111bn, Generates N12bn – Report The Federal Government has spent $247.98m (which amounts to N111.23bn using the Central Bank of Nigeria’s December 30, 2022, official exchange rate of N448.55) servicing railway debts in the last two years while making only N11.61bn...