Nigeria’s Debt Fast Becoming Unsustainable, May Reach N34trn – LCCI
The Lagos Chamber of Commerce and Industry has said the growing level of Nigeria’s debt is fast becoming unsustainable in the light of dwindling oil prices and production and might hit N34tn by year-end.
The President,...
Oil Firms’ Debts Near N5trn Amid Price Collapse
The debts owed by oil and gas companies to Nigerian banks rose by N90bn in the second quarter of this year to nearly N5tn as many operators struggle to stay afloat in the face of depressed prices...
Fresh World Bank, AfDB, IDB Loans May Raise Nigeria’s Debt To N31.7trn
fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may raise Nigeria’s total public debt stock to N31.699tn in coming months.
Nigeria currently expects about $1.844bn (N699.1bn at...
Buhari Justifies Borrowing To Fund Infrastructure Development
President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.
Speaking at a virtual meeting with members of the Presidential...
Debts: FAAN To Quit Servicing Private Airports
The Federal Airports Authority of Nigeria (FAAN) may quit its services for some private aerodrome operators over growing debts.
The authority had, issued a 21-day ultimatum with effect from September 1 to the affected government agencies and private airport...
Nigeria Owes World Bank N3.96trn — DMO
Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its $10.46bn (N3.965tn at the official rate of N379/$) indebtedness to the World Bank Group, latest figures from the Debt Management Office have shown.
An analysis...
