Fuel Subsidy Unsustainable, Rising Public Debt Worrisome – FAAC The Federation Account Allocation Committee Post-Mortem Sub-Committee has said that the rising public debt is worrisome, while describing fuel subsidy as unsustainable. This was according to a communiqué issued at the end of a three-day retreat to...

Aside N41trn Public Debt, FG Owes CBN $47bn - Report   The federal government has confirmed that the Central Bank of Nigeria (CBN) is being owed N20 trillion ($47 billion), which is yet to be added to the country’s outstanding public debt, according to a report...

Nigeria’s Public Debt, Others Hit 50-year High – World Bank   The World Bank Group has said that public debt in Nigeria and other low- and middle-income countries is now at a 50-year high, which is equivalent to more than 200 per cent of government revenues. In...

Inflation May Worsen As FG’s Borrowing From CBN Hit N19trn   The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46tn as of December 2021 to N19.01tn as of April 2022. According to data from the CBN,...

ABCON Seeks Reforms To Curb Govt Spending, Public Debt       The Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated reforms that will reduce government spending and also curb the rising national public debt. The Association also reiterated its commitment to enhancing the capacity of...

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...