FG Pays N205bn From N1.3trn Owed Power Generation Companies
The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector.
The government also stated that the noticeable improvement...
Report Reveals Nigeria Owes NNPC $4.9bn Fuel Debt
The Federal Government owes the Nigerian National Petroleum Company Limited, almost half of what it plans to collect in revenues this year for the petrol subsidy it reintroduced in August last year, Bloomberg reported on Monday.
The report...
Cardoso: A Timely Advocacy for Transparency, Accountability in Nigeria’s Debt Management
By Abdulrahman Abdulraheem
Nigeria is regarded as one of the potentially wealthy and resource-rich countries in the world even though the huge potential is yet to translate into real economic prosperity for the nation. Just...
According to the Debt Management Office (DMO), exchange rate swings have contributed to the increase in Nigeria's national debt stock, which went from N97.34 trillion in December 2023 to N121.67 trillion in March.
Public Debt Hits N121tn
Nigeria’s total public debt has reached N121.67tn, increasing by N24.33tn or 24.99 per cent within three months, the Debt Management Office has announced.
This new figure is from a total debt of N97.34tn ($108.23bn) as of December 2023.
The DMO in a statement...
The Independent Petroleum Marketers Association (IPMAN) has issued a stern warning that it will shut down its 30,000 stations nationwide if the Federal Government's outstanding debt of N200 billion isn't settled promptly.
