The Federal government of Nigeria has spent as much as $3.58 billion to service its external debt in the first nine months of 2024 despite a series of reforms implemented by the government that were supposed to raise revenue and…
Debt servicing has emerged as a significant component of Nigeria’s foreign payment obligations in 2024, accounting for a staggering 63.56 percent of the total $5.63 billion in foreign payments in nine months. This is according to an analysis of the…
In the first quarter of 2024, Nigeria faced a substantial financial challenge as debt servicing consumed a staggering 74 percent of the federal government’s retained revenue, amounting to N1.31 trillion out of N1.76 trillion. This revelation comes from the Central…
Nigeria’s debt servicing cost has increased by 55.71 per cent to N1.24 trillion in three months. In a report obtained by the Debt Management Office (DMO), between October and December 2022, Nigeria spent N406.77 billion on domestic debt servicing, while it…
By Ariemu Ogaga, Dennis Matthew and Uthman Salami Reactions have begun trailing the payment of over $598.59 million to service debts owed by the duo of World Bank and the Exim Bank of China in 2021. Analysis of Data from…
By Seun Ibiyemi The Nigerian Government is to service its debt with N3.6trillion and also projected to earn N10.7trillion for the 2022 fiscal year. The Minister of Finance, Zainab Ahmed disclosed this on Tuesday at the public presentation and breakdown…
The Federal government spent N2.02 trillion on debt servicing in the first six months of this year. This figure represents 90.5 per cent of the total revenue of N2.23trillion generated by the federal government within the period. This was disclosed…
