FG Incurred N16.48trn Fresh Debt In Five Years - NDMF   The Federal Government piled up at least N16.48tn new borrowings between 2018 and 2022. This was disclosed in the National Debt Management Framework (NDMF) 2023 -2027 published on the website of the Debt Management Office (DMO). A...

Tinubu Should Sell 15% Of NNPC Shares To Settle debt, Says Sanusi   A former Governor of the Central Bank of Nigeria, Muhammad Sanusi II, said the mounting debt profile of the country is no longer sustainable in the face of current harsh economic realities created...

FG Spent $1.1bn On Foreign Debt Service   As Nigeria continues to grapple with economic challenges, it has emerged that the federal government spent $1.169 billion to service its debt obligation from January to June 2023. According to the export and international payment data released by the...

DMO Projects Nigeria’s Debt-to-GDP Ratio To 37.1% Increase In 2023  The Debt Management Office (DMO) has projected that Nigeria’s total public debt could rise to 37.1% of its gross domestic product (GDP) this year, nearing the government’s self-imposed 40% limit. The government of the ex-president Mohammadu...

IMF Tasks New Govt on Revenue Generation, Debt Reduction The International Monetary Fund (IMF) has urged the incoming government of President-elect, Sen. Bola Tinubu to take steps to increase the country’s revenue base. The Resident Representative, IMF Nigeria Office, Ari Aisen, who said this during a...

Nigeria’s Borrowing From World Bank Hit $14.34bn In Q1, 2023   Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31, 2023. This was an increase from the $13.93bn debt recorded by the Debt Management Office (DMO) as of December 31, 2022. This means that...