High Recurrent Expenditure Raises Debt Servicing Challenges - CBN         The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja. It also retained...

Debt Servicing, Greatest Risk To Nigeria’s Economy – AfDB         The African Development Bank has projected a growth rate of 1.5 per cent for Nigeria in 2021, and a 2.9 per cent growth in 2022. The President, AfDB, Dr Akinwumi Adesina, disclosed this while delivering a speech...

Nigeria’s Debt Service Charges Rise 89% To N803bn         The cost of servicing Nigeria’s public debt has increased quarter-on-quarter (QoQ) by 88.8 percent to N803.69 billion in third quarter of last year (Q3’20), from N425.7 billion in Q2’20. The amount was used to service the country’s debt...

FG Spent N6.46trn On Debt Servicing, Personnel In 2020         The Federal Government spent a total of N6.46tn on debt servicing and workers in 2020, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said. She also disclosed that the government released a total...

In Nine Months, Nigeria Spent N1.99trn On Debt Servicing         Nigeria spent almost N2tn on debt servicing payments from January to September 2020, the latest data obtained from the Debt Management Office have shown. The DMO had on Thursday disclosed that the nation’s total public debt stock...

Debt Servicing Hindering Nigeria’s Economic Growth Efforts – NECA       The Nigeria Employers’ Consultative Association has warned that the growth in Nigeria’s external debt was jeopardising the economic growth efforts of the Federal Government. The association raised this concern in a statement on Tuesday titled ‘Salvaging the...