Debt service gulped N6.16tn in 16 months, according to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper. In 2021, the Federal Government spent N4.22tn on debt service, and further N1.94tn between January and April 2022. A breakdown shows…
That Nigeria may be running into debt trap has been one concern which has continued to attract outcries. Although, the government has maintained Nigeria’s borrowings is within the limit of Debt-to-GDP (Gross Domestic Product) ratio, it is apparent that there…
Nigeria’s total debts owed to the World Bank Group has risen by $660 just in the first six months of 2022, the Debt Management Office and the financial statements from the Bank have shown. Data from the Debt Management office…
…as debt stock rises to N41.6 trillion in Q1 2022 Nigeria’s total debt stock rose to N41.6 trillion in the first quarter of 2022, representing a N2.05 trillion increase compared to N39.56 trillion recorded as of December last year. In…
The Debt Management Office (DMO) recently announced that the country’s total debt stock as at December 2021 was N39.55 trillion. The DMO had also said that the debt stock was likely to hit N45 trillion in 2022, as the government…
Nigeria’s profile of debt remains at the front burner of the State-of-the-Nation discourse. It has recently become the argument of concerned stakeholders how the Country has been enmeshed in rising debt profile without concrete results to show for same. The…
Last Thursday, 10th November, 2021, the Senate approved another set of loan requests by President Muhammadu Buhari to the tune of $16.23 billion and &1.02billion loans. Following the development, it has been projected that Nigeria’s public debt would upon effect…
Concerns over Nigeria’s rising debt profile have begun to hit the rock with attention given to the huge chunk of funds that now settle for debt servicing in the Country’s fiscal expenditure. The debt profile is now indeed a stiffening…
