Rising Debt: Nigeria, Others Face Fresh Rating Downgrade - Fitch       Fitch, world’s leading risk rating agency, has hinted that the median of government debt-to-gross Domestic Product, GDP, ratio for Nigeria and 18 other Sub-Sahara African Countries it rated in the region would rise to 71%...

NBET Owes Power Stations N120bn In Three Months     The Nigeria Bulk Electricity Trading Plc failed to pay 25 power producers a total of N119.55bn in the first three months of this year for the electricity produced and fed into the national grid. The government-owned NBET buys...

Benin, Niger Owe Nigeria N32.1bn Electricity Debt - NERC   The Nigerian Electricity Regulatory Commission (NERC) has disclosed that a total of N32.1 billion is the outstanding debt owed the country by Benin and Niger Republic for electricity supply to the two countries in 2019. Four reports...

GenCos Add 4,000MW Power Capacity, Decry N600bn Debt   Power Generation Companies (GenCos) in Nigeria have said they have raised power plants’ capacity by 4,000 megawatts (MW) seven years after the privatization and despite being owed over N600 billion debts. Speaking against the call for the traversal...

World Airlines’ Debt To Hit $550bn By End Of Year     The airline industry’s global debt could rise to $550billion by year-end, the International Air Transport Association (IATA), has said. The debt is a $120billion increase over debt levels at the start of 2020. According to...

We’ll Ease Nigeria, Others’ Debt Burden - Chinese Minister   Chinese Foreign Minister, Wang Yi, has said China will work with other G20 members to implement the debt service suspension initiative to ease the debt burden of Nigeria and other African countries. In a statement by China’s...