Anchor Borrowers: CBN Incurs N379bn Debt As Farmers Battle Insecurity       The Central bank of Nigeria recorded a shortfall of N378.5bn in loan repayment by beneficiaries under the Anchor Borrower’s programme in six years, data obtained from the findings apex bank have shown. Between November 2015, when...

Egbin Power Decries N388bn NBET Debt, Idle Capacity       Egbin Power Plc, the biggest power station in Nigeria, has said it is owed N388bn by the Nigerian Bulk Electricity Trading Plc for electricity generated and fed into the national grid. The company disclosed this on Tuesday during...

‘Weak Revenue Mobilisation Hindering Debt Servicing’     Despite concerns about Nigeria’s rising debt profile, the Convener of Borrow Right Africa, Taiwo Akerele has stated that the key issue with the country is revenue mobilisation, which is affecting the capacity to service debts. He argued that Nigeria’s debt...

FG Spent 72% Of Revenue On Debt Servicing       The Federal Government made a total of N3.25tn in 2020, according to a review of the budget performance of the 2020 Appropriation Act. The review also showed that the Federal Government spent a total of N2.34tn on debt...

Nigeria: It’s Time to Stop the Borrowing Binge, by Kingsley Moghalu     The rate at which Nigeria’s public debt has increased in the last six years is unprecedented, alarming, and unsustainable. From $10.31 billion at the end of June 2015, the total external debt increased to...

Nigeria’s Debt To Grow To N48trn By 2024       If everything goes as planned, Nigeria’s total debt will grow to N48 trillion by 2024. This is going by the government’s planned borrowings from 2022 to 2024. According to data from the Ministry of Finance, Budget and National Planning,...