FG to Limit States’ Borrowing Over 5.8tr Debt The Fiscal Responsibility Commission (FRC) has revealed that it has issued a template and guideline on requirements before lending to state governments as part of efforts to check indiscriminate borrowing. Head, Directorate of Legal, Investigation and Enforcement at...

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...

Again, FG Seeks $400m W'Bank Loan to Fund 15m Households The Federal Government has applied for a fresh loan of $400m for the conditional cash transfer to 15 million households as one of the measures to cushion the effects of the removal of petrol subsidy. The...

FG Set to Fund 53 Road Projects With N150bn Sukuk Bond - DMO The Federal Government said it would use the net proceeds of its ongoing N150 billion Sukuk issuance to fund some 53 road projects across the country. Director General, Debt Management Office Ms. Patience...

DMO Offers FGN Bonds With 12% Interest The Debt Management Office (DMO) has initiated the subscription process for two-year and three-year Federal Government of Nigeria bonds for October with an interest rate of up to 12%. This announcement was made in a statement on the DMO’s...