Nigeria Spends $1.12bn on Foreign Debt Servicing in Q1 The Federal Government spent about $1.12bn on foreign debt service payments in the first quarter of 2024, highlighting the growing burden of external debt on the nation’s finances. Data obtained from the international payment segment of the...

In 12 Months, Foreign Debt Servicing Gulps $1.66bn   Servicing the nation’s external debt gulped $1.66bn in one year, from July 2018 to June 2019, an analysis of data obtained from the Debt Management Office has shown. Our correspondent reports that within the one-year period, the country’s...

Lagos, 3 Others Owe Over Half Of States’ Foreign Debt Four states of the federation — Lagos, Edo, Kaduna and Cross River — dominate the list of sub-national governments indebted to foreign bodies, statistics obtained from the Debt Management Office, has shown. Analysis of the DMO...

FG Targets 40% Foreign Debt In 2019   The Federal Government plans to borrow more from foreign sources in 2019 in order to rebalance the ratio between foreign and domestic debts. The Debt Management Office which disclosed this in its Strategic Debt Management Plan 2018 – 2022...

Lafarge’s N131.65bn Offer To Reduce Foreign Debt, Boosts Profitability LAFARGE Africa Plc has disclosed that the net proceeds from its Rights Issue of N131.65 billion will enable it to refinance a portion of the company’s foreign currency denominated shareholder loan, by way of a debt-to-equity...

•Eurobonds account for 20% of Nigeria’s $15.35bn foreign debt The Federal Government is set to meet global debt investors this week as it looks to sell its longest-maturity Eurobond yet. Specifically, the government has planned a roadshow to London and United States from Thursday to market...