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April 01
Nigeria: And the Borrowings Continue...
The spate of borrowing is excessive Read more »
July 24, 2023
Nigeria: Afenifere to Tinubu - Seek $13 Billion Debt Forgiveness From Creditors to Stabilise Economy
The pan-Yoruba socio-political organisation, Afenifere, has called on President Bola Tinubu to take five-pronged approaches to prevent the country from total socio-economic… Read more »
May 01, 2023
Nigeria: Failure to Recover Amcon's N4tn Debt Will Hurt Economy, Kuru Warns
*Urges stakeholders not to allow few debtors escape with our commonwealth Read more »
April 17, 2023
Africa: Debt, Debt Everywhere...
Rising debt waves across the world remains a major risk for global financial stability and undermines efforts to engender sustainable development. Read more »
February 17, 2023
Nigeria: Nigeria, Our Ballooned Debt and Our Great Grand Children's Burden
Today, our country's debt is about ten or more times what it was at the start of this present government. Compared with the size of our economy, this is the largest it has been… Read more »
February 06, 2023
Nigeria: $4.6m Debt - Lionstone Offshore Denies Indebtedness, Alleges False Representations
The Chairman and Chief Executive Officer of Lionstone Offshore Services Limited, Mr. Amaechi Ndili, has denied owing Hercules Offshore Nigeria Limited to the tune of $4.6 million. Read more »
January 19, 2023
Nigeria: Emefiele Appeals Against Summon in $53m Judgement Debt Suit
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has appealed against the judgment of a Federal High Court, Abuja, which compelled him to appear before the… Read more »
January 18, 2023
Nigeria: $53m Debt - Emefiele Appeals Against Summons
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has appealed against the judgment of a Federal High Court, Abuja, which compelled him to appear before the… Read more »
January 16, 2023
Nigeria: How Govt Spent $14.37bn to Service World Bank, Other Debts in 8 Years
Amid fears that debt services and payments is constituting a major threat to Nigeria's economy, it has emerged that the federal government spent a whooping $14.37billion in eight… Read more »
December 19, 2022
Nigeria: Nigeria's Debt Service-to-Revenue Ratio At 83.0% Worrisome
Following the recent disclosure by the Debt Management Office (DMO) on Nigeria's Debt stance, analysts have stressed that Nigeria's debt is at the highest level and is worrisome at… Read more »
December 12, 2022
Nigeria: Edo Not Listed Among Top Most Indebted States in Nigeria
Edo State is no longer on the list of top ten most indebted states in Nigeria, a statement disclosed yesterday. Read more »
October 14, 2022
Nigeria: Nigeria Has Not Approached Us for Debt Restructuring, Says World Bank President
The President of the World Bank Group, Mr. David Malpass, yesterday disclosed that Nigeria was yet to approach the bank for debt restructuring. Read more »
October 13, 2022
Nigeria: Nigeria Seeks Debt Restructuring From IMF, World Bank
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday disclosed that the Nigerian government was in talks with the International Monetary Fund (IMF)… Read more »
September 22, 2022
Nigeria: Nigeria Domestic Debt Service Increases to N5.24trn in 30 Months
With mounting domestic debt now standing at a whooping N20.95trillion as of June 2022, Nigeria's domestic debt service rose to N5.24trillion in 30 months, the Debt Management… Read more »
September 07, 2022
Nigeria: Spiraling Debts As Fiscal Woes for Next Administration
Nume Ekeghe and James Emejo writes on the country's controversial public debt stock that has been on the increase since 2015 and its lack of impact on key macroeconomic indicators Read more »
September 05, 2022
Nigeria: Nigeria to Reap Billions of Dollars From Creditors in Debt-for-Climate Swap Proposal - Osinbajo
The Vice President, Prof. Yemi Osinbajo has disclosed that Nigeria would reap a huge debt relief from some creditors running into billions of United States dollars when the… Read more »
September 04, 2022
Nigeria: Nigeria to Reap Billions of Dollars From Creditors in Debt-for-Climate Swap Offer - Osinbajo
Vice President Yemi Osinbajo has disclosed that Nigeria will reap a huge debt relief from some creditors running into billions of US dollars when the nation's idea for a… Read more »
September 02, 2022
Nigeria: Nigeria's Total Debt Profile Now N41.60trn, Says DMO
The Director-General of the Debt Management Office (DMO), Mrs. Patience Oniha yesterday confirmed that Nigeria's total debt profile as at March, 2022 stood at N41.60 trillion. Read more »
Nigeria: NNPCL's Total Outstanding Petrol Subsidy Debt Hits N1.04trn, N448.7bn Deducted in July
With total spending on the controversial petrol subsidy now exceeding oil revenue, the Nigerian National Petroleum Company (NNPCL) outstanding debt on what it terms under-recovery… Read more »
August 24, 2022
Africa: China to Pick 17 Countries for Debt Forgiveness, Redirect U.S.$10 Billion in IMF Funds
China, the largest government creditor to emerging economies, has said it will forgive 23 interest-free loans to 17 African countries and redirect $10 billion of its International… Read more »
August 16, 2022
Nigeria: Budget Deficit, Public Debt Hamper Fiscal Sustainability - CBN
The Central Bank of Nigeria (CBN) yesterday said budget deficit and public debt could exert direct and negative consequences on fiscal sustainability, adding that these remained… Read more »
August 03, 2022
Nigeria: Govs Write Govt Over Alleged $418m Paris Funds Debt, Say Renewed Deduction Plan Unlawful
The 36 state governors in the country under the Nigeria Governors' Forum (NGF) have again resisted fresh moves to commence the deduction of $418 million Paris Club refund allegedly… Read more »
June 20, 2022
Nigeria: Bank Asks Court to Stop Directors From Disposing Firm's Ikoyi, Agbara Properties Over N13. 3bn Debt
First Bank of Nigeria (FBN) has approached a Federal High Court in Lagos for an order restraining six former directors of Commonwealth Consortium Limited and Agbara Estates Limited… Read more »
June 15, 2022
Nigeria: Fuel Subsidy, Nigeria Merely Struggling to Service Its Debts, Finance Minister Laments
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday expressed concern that the federal government's continuous retention of the controversial fuel… Read more »
June 09, 2022
Nigeria: Nigeria's Public Debt Climbs By N2.04 Trillion in Q1 to N41.6 Trillion
Nigeria's total public debt stock, comprising the debt obligations of the federal government, states and the Federal Capital Territory (FCT) rose from N39.56 trillion in December… Read more »
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