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...

World Bank Says Nigeria Spent 96% Of Revenue On Debt Servicing In 2022   The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the...

Debt Servicing Increase By 14.68% In 2022 – DMO   Nigeria’s debt servicing bill went up by 14.68 per cent to N3.36trn in 2022, data from the Debt Management Office has shown. According to DMO, N2.93tn was spent on external and domestic debt servicing payments in 2021. Recall...

FG Projects 82% Of Revenue For Debt Servicing – IMF The International Monetary Fund (IMF) says the Federal Government has projected to spend 82 per cent of its revenue on interest payments in 2023. According to the IMF, external debt (including that of the private sector)...

Railway Debt Servicing Gulps N246bn   The Federal Government spent $548.67m (N246.11bn using the official exchange rate of N448.55 to a dollar by the Central Bank of Nigeria ) to service railway-related debts between 2016 and 2022, according to Nigeria’s external debt service payments reports by...

Nigeria Debt Servicing Gulps N6.16trn In 16 Months   Debt service gulped N6.16tn in 16 months, according to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper. In 2021, the Federal Government spent N4.22tn on debt service, and further N1.94tn between January and April 2022. A breakdown...