Nigeria's Debt May Hit N107tn Nigeria’s total debt, Federal Government and states’ loans, may hit at least N107.38tn soon following the approval of fresh borrowings for the Federal Government and new securitisation of the Central Bank of Nigeria’s N7.3tn Ways and Means advances. This is as...

In Two Years, Nine Oil Producing States’ Debts Skyrocket Despite N1.88trn Derivation Fund   Despite receiving N1.885 trillion from the 13 per cent oil derivation fund in two years, the nine oil-producing states’ debts as a result of loans taken from local and foreign lenders have...

'Nigeria’s Debt Now N87.91trn'   Nigeria’s total public debt rose marginally by 0.61 per cent quarter-on-quarter to N87.91trn in the third quarter of 2023. This is according to new debt stock data from the Debt Management Office (DMO) released on Wednesday. According to the data released, total external...

Chinese Loan Hits $4.73bn, Rises By $800m in One Year   Nigeria’s debt to China increased from $3.93bn as of June 30, 2022, to $4.73bn as of June 30, 2023, showing an increase of $800m in one year. It is an increase of 20.36 per cent from...

FG Plans N26trn Borrowing, Debt Servicing to Gulp N29trn   Nigeria’s total public debt may hit N118.37tn in the next three years. The figure was based on analysing Nigeria’s current debt profile and the debt projections in the Medium Term Expenditure Framework and Fiscal Strategy Paper 2024-2026. According...

N130bn USSD Debt: Telcos Threaten Court Action Against Banks   Telcommunications operators (Telcos) under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), have threatened to drag Nigerian banks to court over the unpaid Unstructured Supplementary Service Data (USSD), which has accumulated over...