FG To Settle N187.32bn Contractors’ Debt This Year   The administration of President Bola Tinubu will likely spend about N187.32bn to settle debts owed to local contractors this year. The debts were listed as promissory notes in a document titled, ‘Schedule of promissory notes issued by category...

Banks Offer Telcos N120bn Debt Repayment Plan   Telecommunication firms are considering a repayment plan proposed by Deposit Money Banks to end the N120bn debt on the Unstructured Supplementary Service Data service. A source said the Central Bank of Nigeria (CBN) was intervening in the dispute, and...

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...