Lagos Accounts For 12.15% As States Debts Hit N4.2trn       The total states and Federal Capital Territory domestic debt profile hit N4.2tn with Lagos State accounting for 12.15 per cent of the debt stock as of the end of 2020. According to the report by the National...

NNPC Shrinks Cash-call Debts To IOCs By $3.11bn       The Nigerian National Petroleum Corporation (NNPC) has so far paid a total of $3.118 billion cash-call debts owed the five major international oil companies (IOCs), leaving an outstanding debt of $1.570, according to statistics released by the...

Nigeria’s Public Debt Stands At N32.9trn — DMO       Nigeria’s Total Public Debt as of December 31, 2020, stood at N32.915 Trillion. The figures include the Debt Stock of the Federal and State Governments, as well as, the Federal Capital Territory. The Debt Management Office (DMO) released...

Oil, Power Firms’ Bank Debts Rise To N5.94trn     The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent...

Niger, Others’ Debts Worsening Illiquidity In Power Sector - NERC       The Nigerian Electricity Regulatory Commission (NERC) has expressed concern about the continuing inability of its international as well as special customers to settle their invoices for services rendered by the Market Operator (MO). NERC, in its...

FG To Redeem Debts Owed States With Over N31.4bn       The Federal Government will tomorrow release over N31.4 billion to state governments in keeping with its obligations to service its debts. The state governments will be credited with N31,440,652,571 tomorrow when the promissory notes issued to them...