Nigeria’s Debt Service Drops Amid Non-Oil Revenue Boom The Nigerian government has recorded significant strides in its fiscal management, with a dramatic decline in debt service and a surge in non-oil revenue. The minister of finance, Wale Edun, disclosed these positive developments during an assessment...

Railway Debt Servicing Surpasses Revenue in Q1 2024 by Over 2,000% Nigeria spent more on servicing the debt incurred for building its railways than the revenue generated by its railway system in the first quarter of 2024. The country spent 2,470% per cent more on railway...

Nigeria’s Debt to GDP Ratio Surpasses 50% Nigeria’s debt-to-GDP ratio crossed 50% for the first time ever last week after the Debt Management Office published the country’s latest public debt figures. According to the DMO, Nigeria now has a public debt portfolio of N121 trillion, consisting...

Nigeria’s Trade Balance Rises to $1.43bn, IMF Reports Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic Outlook shows. The IMF data indicates a posi­tive outlook for Nigeria’s econom­ic...

Nigeria’s Economy to Hit $1.85tn by 2029, IMF Predicts  The International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms. This forecast suggests a significant growth trajectory for the country’s economy over the next five years. According to the...

Despite Economic Downturn Nigeria’s Current Trade Balance Rises to $1.43bn Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic Outlook shows. The IMF data indicates a positive outlook for...