Nigeria’s Revenue Declined By 65%, Says Finance Minister       The Minister of Finance, Budget and National Planning, Zainab Ahmed, says Nigeria’s revenue has dropped by 65 per cent hence the decision of President Muhammadu Buhari to discontinue the payment of petrol subsidy. Ahmed said this on NTA’s...

Nigeria Owes World Bank N3.96trn — DMO     Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its $10.46bn (N3.965tn at the official rate of N379/$) indebtedness to the World Bank Group, latest figures from the Debt Management Office have shown. An analysis...

Nigeria’s Debts May Rise To N34trn In Q3     Nigeria’s public debts may continue its quarterly increase to hit about N34 trillion in the third quarter ending September 30. Data provided by the Debt Management Office (DMO) had shown that the nation’s public debt had risen by...

FG Revenue Drops By 32% To N625.9bn In May       Driven by the drop in crude oil prices, federally collected revenue fell by 32 percent to N625.9 billion in May 2020 from N915.28 billion collected in April. Central Bank of Nigeria (CBN) stated this in its Monthly...

Nigeria: Spending Earnings for Debt Servicing By Ibrahim Shehu Dandakata     The last time there was such in abundance was during the regime of Abacha when ‘Tokunbo’ cars and spare parts became the norm as a response to that smoke. After a long time, cars with ‘smoking...

Nigeria’s Debt Rises By N2.3trn, Hits N31trn – DMO     The Debt Management Office on Wednesday released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s entire debt at N31trn, indicating an increase of N2.38trn within a space of three months. Nigeria’s...