Nigeria’s debts to hit N155trn as Senate approves FG’s $6bn loan request
Nigeria’s total debt stock is set to rise to N155.1 trillion, following an additional $6 billion loan request by President Bola Tinubu, hurriedly approved by the Senate yesterday.
Nigeria can repay its debts within 90 days – Jimoh Ibrahim
Senator-elect and business mogul, Jimoh Ibrahim, has explained how Nigeria can repay its debts within 90 days.
‘Buhari left high debt, rising inflation, low growth behind’
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 growth.
NACCIMA, others list risks to economy as debt hits N46.3trn
The Debt Management Office, DMO, yesterday said the nation’s public debt rose by N6.69 trillion or 22.47 per cent to N46. 25 trillion ($103.11 billion) at the end of 2022 from N39. 56 trillion ($95.77 billion) at the end of December 2021, with the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, highlighting its risk to the economy.
Mounting debts: Consequence of undue emphasis on capital investments
By FRANCIS OGBIMI I am usually embarrassed listening to leaders in state and federal governments, business men and business women, lawyers, intellectuals, others, beg and cry for capital investments especially Foreign Direct Investments, FDIs, every hour, every day, in Nigeria. Some state governors travel to Europe, America and Asia to beg Europeans, Americans and Asians […]
MAN, LCCI to FG: Rising debt threatening economy
The Lagos Chamber of Commerce and Industry, LCCI, the Manufacturers Association of Nigeria, MAN, and economy analysts have warned the Federal Government over the rising debt profile and the deteriorating state of the economy, saying they were problematic to economic development.
Africa’s debt higher than combined revenue of $501bn, says Adesina
African Development Bank, AfDB, President, Akinwumi Adesina, has revealed that Africa’s public debt, currently estimated at $546 billion, represents one-quarter of the continent’s GDP and is higher than the combined total annual government revenues of $501 billion.
Olu Falae: Borrowing not bad; but what for, from who, on what terms?
Chief Olu Falae has said that there was nothing wrong with a government borrowing, but that the right answers must be provided for “for what purpose?” “from who?” and “what are the terms?”.
Lawyer, ALGON battle over $381m judgement debt
By Henry Ojelu A legal practi-tioner, Dr Ted Iseghohi and the Association of Local Governments of Nigeria, ALGON are currently in a bitter legal battle over an alleged $381million judgment debt. While Iseghohi is threatening to drag the ministry of finance to court for not complying with a garnishee order attaching the funds belonging to […]
