Nigeria Remains Third-Largest Debtor to IDA With $17bn
Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association (IDA) with its exposure climbing to $17.1bn as of September 30, 2024.
According to the World Bank’s latest financial statements for the...
Telecom operators in Nigeria are seeking regulatory approval from the Nigerian Communications Commission (NCC) to discontinue Unstructured Supplementary Service Data (USSD) services to banks over an unpaid debt exceeding N250 billion.
The International Monetary Fund (IMF) has said that Nigeria continues to engage with the global debt market despite challenges posed by high borrowing costs.
President Bola Ahmed Tinubu has urged the United Nations to prioritize debt forgiveness for Nigeria and other developing nations, appealing to creditors and multilateral financial institutions to support this initiative.
$6.8bn Debt: NNPC Admission Sparks Integrity Concerns
The Nigerian National Petroleum Company Limited (NNPCL) recently shocked many Nigerians when it admitted owing petrol suppliers. The masses were not surprised that the company was in debt; rather, they found it difficult to believe that after months...
Nigeria's External Debt Servicing Rises To $2.78bn
Nigeria’s debt servicing in the first seven months of this year rose by 53.63 per cent, or $971.47m, to $2.78bn, up from the $1.81bn recorded in the same period in 2023.
This was disclosed in the Weekly International Payments...
