Nigeria’s debt service charges rise 89% to N803bn
By Elizabeth Adegbesan MONEY MARKET The cost of servicing Nigeria’s public debt has increased quarter-on-quarter (QoQ) by 88.8 percent to N803.69 billion in third quarter of last year (Q3’20), from N425.7 billion in Q2’20. The amount was used to service the country’s debt stock of N32.22 trillion during the review period. The figures in the ‘Nigeria […]
Nigeria public debt stands at N26.2 trillion – DMO
The Debt Management Office (DMO) says the total public debt as at September 2019 stood at N26.215 trillion. The Director-General of DMO, Ms Patience Oniha, made this known during a presentation of Public Debt Data as at September 30, 2019, in Abuja on Friday. Oniha explained that the debt comprised the Federal Government and 36 […]
Lagos debt profile hits N39.692bn
Targets 100 per cent performance for Y2020 budget By Emeka Anaeto and Olasunkanmi Akoni In spite of the increasing budgetary provision which has risen to N1.168 trillion for the year 2020, Lagos State Government debt profile presently stands at N39.692 billion. Commissioner for Finance, Mr Rabiu Olowo and his Economic Planning and Budget, Mr Sam […]
External Borrowing Plan for $22.7bn, not $29.9bn ― DMO
Emma Ujah The Debt management office (DMO) has clarified that the External Borrowing Plan for which the Federal government is seeking National Assembly approval stands at $22.7 billion and not $29.9 billion as widely reported in the media. DMO in a statement last night also said that the borrowing plan involved mainly concessionary loans. It […]
Buhari’s $30bn loan request: Rising debt profile, cause for concern — MAN DG
Following the request of President Muhammadu Buhari to the National Assembly for permission, the Manufacturers Association of Nigeria (MAN) bemoaned that the rising debt profile is now a “cause of concern.” The Director-General of MAN, Segun Ajayi-Kadir, said: “In my opinion, the 39 emergency projects in the power, agriculture, transport & mining sectors of […]
Buhari’s $30bn loan request: MAN, LCCI, others caution FG, NASS
By Victor ‘Tunde Oso & Nkiruka Nnorom With Nigeria’s debt stock growing by 3.11 per cent from $81.27 billion recorded in the first quarter of 2019 to $83.88 billion (N25.70 trillion) at the end of June 2019, economists are almost unanimous in opposition to President Muhammadu Buhari’s request to the National Assembly last week for […]
Gov. Sule cries out over N18.9bn debt inherited from Al-Makura
…I cleared all debt before handing over – Almakura By David Odama Nasarawa State Governor, Abdullahi Sule has cried out over huge debt inherited from the administration of senator Tanko Almakura which he said is impeding the smooth running of his government. This is even as the immediate past governor has denied saying he cleared […]
$30bn borrowing: Debt service to gulp 80% of FG’s revenue
The federal government will be using about 80 per cent of its revenue as interest payment on its debt which may rise to $104 billion should the National Assembly approve the request to borrow an additional $30 billion.
DMO puts Nigeria’s total debt profile at N25.7 trn
By Tordue Salem – Abuja The Debt Management Office (DMO) has told the House of Representatives yesterday that Nigeria’s total debt profile is now N25.7 trillion. The Director-General of the office, Ms Patience Oniha, made this known while addressing the House Committee on Public Account on Friday in Abuja. “As at June 2019, our debt […]
Nigeria’s debt profile now N25.7 trn
The Debt Management Office (DMO) says that Nigerian’s total debt profile is N25.7 trillion.
APC accuses PDP led Govt. of plunging Delta into N600bn debt
…..As PDP keeps mum Perez Brisibe, Ughelli The Delta State chapter of the All Progressives Congress, APC have accused the Peoples Democratic Party, PDP led government of Delta State of allegedly plunging the state into a debt of over N600billion naira. The party in a statement over the weekend while citing the 2018 Economic Confidential […]
High debt service, budget deficit, insecurity discouraging investors — Financial experts
Some financial experts on Monday attributed the incessant lull on the Nigerian Stock Exchange (NSE) to various economic dislocations in the country. The financial experts, who spoke to Newsmen in separate interviews in Lagos, noted that uncertainties in the economy were discouraging investors from investing in the market.
Some public debts yet to be captured — Finance Minister, Ahmed
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Thursday, said there were debts owed by states and government enterprises that had not been captured. Ahmed made this known during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings in Washington, United States. This revelation is coming two […]
The world mustn’t sleep-walk into another debt crisis
TRADE wars, protectionism, and nationalist rhetoric are combining to create the possibility of a nightmare debt crisis that could be worse than any previously experienced. Global borrowing is now at the highest levels since the 1950s – and history suggests we should take this as a warning that a debt crisis could be looming. Were one to materialise, it could inflict greater dislocation on international financial systems and national economic stability than ever previously witnessed.
Breaking: Nigeria owed N25.7trn debt as at June 30 — DMO
The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically and externally.
$9.6bn judgement debt: FG to push for abrogation of huge cash award
Insists P&ID has no presence anywhere How project failure affected Addax’s plan to end gas flaring By Soni Daniel & Udeme Akpan As Nigeria goes on appeal to set aside the huge cash awarded by a British commercial and arbitration court to an offshore compaany over a botched gas supply contract, indications emerged, weekend, that […]
