THE rising debt profile of Nigeria on yearly basis came to the front burner as Senators yesterday began debate on the general principles of the 2019 Appropriation Bill of N8.83 trillion presented before the National Assembly by President Muhammadu Buhari.

THE  Nigerian Civil Aviation Authority, NCAA, yesterday, threatened to sanction telecom operators over N1 billion naira debt owed the agency over the years.

NIGERIA’S debt stock increased by 3% from the N21.68 trillion recorded in December 2017 to N22.4 trillion recorded in December 2017 to N22.2 trillion ($73.21 billion) at the end of June 2018.

A consolidation loan simply means taking out a loan and using it to pay off all your existing loans. The consolidating loan has a low-interest rate and one monthly payment which ranges between 12-24 months.

We all deal with different kinds of financial issues in various seasons of our lives. Many times, we start borrowing that we might meet our day-to-day expenses, business requirements, or financial deficiencies

The federal government has defended the country’s position with regards to  foreign borrowing which the International Monetary Fund IMF listed the vulnerability to foreign debt as one of the major threats to economic growth amongst African countries, especially in the sub-Saharan group which includes Nigeria.

The National Bureau of Statistics (NBS) says the country’s foreign debt stands at 22.08billion dollars.

Nigeria’s public debt rose by 4.5 percent    to N22.7 trillion in the first quarter of 2018 (Q1’18) due to increased domestic borrowing by state governments and increased foreign borrowing by the federal government.

ON May 22 this year,  the International Monetary Fund’s, Resident Representative for Nigeria, Amine Mati, expressed concern over Nigeria’s capacity to sustain a debt burden which has, reportedly almost double from N12.12 trn in June 2015 to N21.75 trn by December 2017.

Lagos State Government, yesterday, put its debt profile at the end of 2017 at N874.38 billion.