The African Development Bank’s Chief Economist, Kevin Urama, says debt for growth for countries on the continent should not carry any negative connotation. Urama, also the Vice-President Governance and Knowledge Management in AfDB, said this at a pre-media conference held…
Oyo State Government has said that the Accountant-General of the state, Mrs Kikelomo Adegoke, did not contradict the position of Gov. Seyi Makinde on the payment of judgment debt to the sacked local government chairmen and councillors. The News Agency…
The Asset Management Corporation of Nigeria (AMCON) has blamed high interest rates, non-collateral interventions as some of the factors hindering the recovery of N4.7trillion debt owed to the corporation. At at an interactive session with the Management of AMCON led…
The federal government’s debt service to revenue ratio has increased to 183 percent in the first quarter of 2023. This information was revealed in the budget implementation report for the same period.The report highlights that the government had initially budgeted…
Nigeria is currently managing a significant amount of debt owed to the World Bank. According to data obtained from the World Bank’s website, Nigeria is servicing approximately $14.12 billion worth of loans. These loans are spread across 108 approved projects,…
Research by ONE has revealed that African countries will pay $56 billion more on debt raised on capital markets between 2017 and 2021. The research also stated that “If average interest rates on bonds increase by 1% more, interest would cost…
By Sodiq Adelakun Data released by the Central Bank of Nigeria (CBN) has revealed that the Federal Government of Nigeria spent $1.17 billion to service its foreign debt in the first half of 2023. The report reveals that in January…
The debt owed mobile network operators (MNOs) by deposit money banks (DMBs) over the use of the Unstructured Supplementary Service Data (USSD) has risen to N150 billion, it was gathered over the weekend. The Central Bank of Nigeria (CBN) is…
Following the recent floating of the naira by the Central Bank of Nigeria, the external debt of the 36 states and the Federal Capital Territory may rise by as high as over 40 per cent. On Tuesday, June 13, a…
In recent times, the media has been awash with news about the huge debt burden that the incoming government would inherit from the President Muhammadu Buhari administration. This started after Buhari signed the 2023 budget of N21.83trillion into law in…
