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...
$10bn Debt: CBN Fails to Meet up with Payment Schedule
Over two weeks after the Central Bank of Nigeria (CBN) promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings.
This came as...
