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January 10
Nigeria: Cadbury Nigeria to Sell 402m Shares Over Inability to Pay $7.7m Debt
Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Read more »
December 20, 2023
Nigeria: Nigeria's Debt Profile Hits N89.71trn - DMO
The Debt Management Office has said Nigeria's public debt profile has increased to N89.71 trillion at the end of the third quarter of 2023. Read more »
December 04, 2023
Nigeria: How Intel Waived $193m Debt to Resolve Stalemate Over Pilotage Contract - NPA
The Nigerian Ports Authority (NPA) has explained how INTELS Nigeria Limited waived $193 million as part of deliberate and conscious effort to resolve the stalemate on the pilotage… Read more »
November 02, 2023
Nigeria: Foreign Debt to Top $51bn As Tinubu Seeks Fresh $7.8bn, €100m Loans
Nigeria's foreign debt is expected to rise further to about $51 billion, following President Bola Tinubu's request to the Senate, seeking approval to borrow additional $7.8 billion… Read more »
November 01, 2023
Nigeria: World Bank Commits Over $11 Billion in Three Years in Nigeria - Country Director
The World Bank Country Director for Nigeria, Shubham Chaudhuri, on Wednesday, said the bank has committed over $11 billion in the past three years for government at both the… Read more »
October 07, 2023
Nigeria: Nigeria Can't Be Surviving on Debt at 63rd Independence Anniversary - Deputy Speaker
The Deputy Speaker of the House of Representatives, Benjamin Kalu, has expressed concern about Nigeria's reliance on debt at 63 years of Independence anniverary. Read more »
October 04, 2023
Nigeria: Nigeria's Rising External Debt Sustainable - Experts
Despite Nigeria's rising external debt burden, some financial experts have dispelled fears of possible default in repayment saying that the current N49trn external debt burden is… Read more »
September 15, 2023
Nigeria: Nigeria's Debt Rises By 75%, Hits N87trn in Three Months
The Debt Management Office (DMO) has disclosed that Nigeria's total public debt hit N87.38 trillion at the end of the second quarter of 2023. Read more »
August 21, 2023
Nigeria: Nigeria's Debt Profile Up 410% in 8 Years - MAN
The Manufacturers Association of Nigeria (MAN) has said that the manufacturing sector has been at the receiving end of Nigeria's debt crisis which has seen the nation's debt… Read more »
August 16, 2023
Nigeria: Harsh Economy - Buhari Spent 96% of National Income On Debt - Oshiomhole
Former National Chairman of the All Progressives Congress, APC, Senator Adams Oshiomhole, yesterday, revealed that President Bola Tinubu's administration inherited an economy in… Read more »
August 07, 2023
Nigeria: Indigenous Contractors Issue 7-Day Ultimatum to Works Ministry Over Debts
Aggrieved Nigerian contractors are spoiling for a showdown with the Federal Ministry of Works over what they said is the willful refusal of the ministry to approve payment for job… Read more »
May 29, 2023
Nigeria: Buhari Left High Debt, Rising Inflation, Low Growth Behind - BudgIt
A leading civic organisation, BudgIT has lamented that President Muhammadu Buhari's government of eight years had plunged Nigeria into high debt, increasing inflation and low… Read more »
May 21, 2023
Nigeria: The Buhari Legacy - Killings Without End, N77 Trillion Debt, 22% Inflation
It may be wrong to assume President Muhammadu Buhari's legacy would be a subject of controversy. Read more »
May 18, 2023
Nigeria: $800m Loan - 'Too Late to Incur Debt for Incoming Govt,' Moghalu Tells Buhari
...insists subsidy is a drain pipe of Nigeria's resources Read more »
May 01, 2023
Nigeria: DMO Defends $13bn Indebtedness to World Bank
The Debt Management Office, DMO, has saidthat Nigeria's $13.46 billion World Bank loan is a plus because the loans which came from the international Development Association (IDA)… Read more »
April 22, 2023
Nigeria: Huge Debts, Vandalism Behind Poor Electricity Supply in Aba - Geometric Power
The management of APL Electric Company Limited, Aba, a subsidiary of Geometric Power Company, has attributed the poor power supply in Aba, Abia State, to the huge debts owed by its… Read more »
April 18, 2023
Nigeria: Subsidy Removal Is Best Economic Decision to Reduce Nigeria's Debt - LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the Federal Government's planned petrol subsidy removal remains one of the best economic decisions that will reduce Nigeria's… Read more »
April 17, 2023
Nigeria: How World Bank Creates Debt Burden in Nigeria
"$800 million at best is equivalent to about N360 billion and when you divide this by the targeted 10 million households, that amounts to approximately N36,000. What significant or… Read more »
April 12, 2023
Nigeria: IMF Explains Debt Crises in Nigeria, Other Low-Income Countries, Makes Recommendations
Amidst rising public debts and debt servicing burdens amongst low-income countries, including Nigeria, the International Monetary Fund, and IMF, has given general clues on what is… Read more »
April 13, 2023
Nigeria: IMF, World Bank Discuss Debt Sustainability, Restructuring Challenges
The Global Sovereign Debt Roundtable (GSDR), on Wednesday discussed debt sustainability and debt restructuring challenges and ways to address them. Read more »
April 12, 2023
Nigeria: Why Debt Burden Will Worsen for Nigeria, Other Low Income Countries - IMF
The global economic slowdown projected by the International Monetary Fund, IMF, in the short to medium term is expected to mount pressures on developing and low income countries… Read more »
April 06, 2023
Nigeria: Why Govt's Debt Is Rising As LCCI, Others List Ways Out - DMO
The Debt Management Office, DMO, yesterday attributed Nigeria's growing debt stock to budget deficits, continuous issuance of promissory notes and other borrowings as well as low… Read more »
March 09, 2023
Nigeria: Govt Asks UK Court to Overturn $11bn P&ID Debt
Nigeria has asked a London High Court to deliver judgement in its favour in a case against Process and Industrial Developments Company, P&ID. Read more »
December 29, 2022
Nigeria: 2023 - Govt Budgets N6.55trn for Debt Servicing, to Fund N10trn Deficit By Borrowing
Federal Government has earmarked N6.55 trillion for debt servicing in 2023 according to the Appropriation Bill passed by the National Assembly on Wednesday. Read more »
Nigeria: Nigerians Owe Bishop Kukah a Debt of Gratitude - Buhari
As you read this, it will be exactly three days to the end of the year and 152 days to the end of Muhammadu Buhari's second and final term in office as president. And Nigerians are… Read more »
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