Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

CBN raises alarm over Nigeria’s rising debts profile

Damilare Famuyiwa by Damilare Famuyiwa
January 23, 2019
in Business News, Politics
Central Bank of Nigeria

Godwin Emefiele

Share on FacebookShare on TwitterShare on Linkedin

Governor Godwin Emefiele has cautioned the Federal Government against Nigeria’s rising debts profile. Emefiele said the country’s debts profile is alarming.

The CBN Czar made this known while addressing some newsmen, after the two-day Monetary Policy Committee (MPC) meeting held at the headquarters of the CBN.

According to Emefiele, the MPC noted the rising debt profile and called for caution. He said, “On external borrowing, the committee noted the increase in debt level advising for caution, noting that it could fast be approaching the pre-2005 Paris Club level.”

RelatedPosts

Buhari approves reappointment of Patience Oniha as DG of Debt Management Office

MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

Emefiele said the committee noted that while the real Gross Domestic Product grew by 1.81 per cent during the third quarter of 2018, the persistence of herdsmen attacks on farmers, cattle rustling and flooding in parts of the country affected agricultural and livestock output.

The governor said in view of this, the output for growth remained fragile as the late implementation of the 2018 budget and the residual impact of flooding and security challenges constituted headwinds to growth.

Emefiele maintained that except the Federal Government came up with measures to address the country’s debt level, Nigeria’s debt burden might rise up to the pre-2005 Paris Club level.

However, the Debt Management Office (DMO) had pegged Nigeria’s total debt at N22.43 trillion as at September 2018, an increase of 85.06 per cent when compared to its standing in June 2015, a month after President Muhammadu Buhari came into power.

Three years ago, the country’s debt profile was estimated at N12.12 trillion, but recorded a sharp increase of 79.25%, hitting N21.73 trillion in 2017. Despite the increase, Nigeria’s debt was within the sustainable threshold of 56% recommended for developing countries according to DMO in 2017.

In a recent DMO data, Nigeria’s total debt recorded an increment of N10.31 trillion within the period of June 30, 2015 to September 2018. With the external component of the Federal Government, State governments and FCT’s debt rising from $10.32 billion by 109.21 per cent within the years under review, to $21.59 billion in 2018.

Related

Tags: debtDMOGodwin Emefielepre-2005 Paris Club level

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Buhari approves reappointment of Patience Oniha as DG of Debt Management Office
    • Bullish Nigerian Exchange gains N5.64 trillion in HY’2022
    • MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

    Follow us on social media:

    Recent News

    Buhari approves reappointment of Patience Oniha as DG of Debt Management Office

    Buhari approves reappointment of Patience Oniha as DG of Debt Management Office

    June 30, 2022
    Bulls stage a comeback at Nigerian stock market

    Bullish Nigerian Exchange gains N5.64 trillion in HY’2022

    June 30, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com