N5.6trn Debt Threatens Energy Supply as Gas Firms Cut Supply
Nigeria faces the threat of nationwide blackouts as gas companies reduce their supply to power plants due to an outstanding N5.6 trillion debt owed to power generation companies.
The development has raised concerns about the stability...
Speaker of the House of Representatives, Dr. Abass Tajudeen, has expressed concern over Nigeria’s public debt profile, which was ₦149.39 trillion, approximately US$97 billion, as of the first quarter of this year. Domestic borrowing accounts for 53 per cent, while external borrowing makes up 47 per cent.
FG Clears N2trn Contractor Debt, Plans 2025 Capital Budget
The Federal Government has cleared over N2tn in outstanding capital budget obligations from the 2024 fiscal year, with a pledge to prioritise the timely release of 2025 capital funds.
The Minister of Finance and Coordinating Minister of...
Nigeria’s total public debt could rise to N160.6 trillion by the end of 2025, raising new concerns about the country’s deepening fiscal vulnerabilities.
Telcos Recover N107bn from Banks for USSD Debt
The long-term dispute between telecommunications operators and commercial banks over unpaid Unstructured Supplementary Service Data fees appears to be drawing to a close, as telecom companies confirm the recovery of 95 per cent of the N180 billion...
FG to Settle N2trn Debt Owed to GenCos by December
The Minister of Power, Adebayo Adelabu, has announced that the government has outlined plans to offset N2trn out of the N4tn debt owed to power generation companies by the end of the current year.
He said...
