Tag
DEBT SERVICING
The Federal Government spent N8.94 trillion on debt servicing in the first nine months of 2024, accounting for 47% of total expenditure during the period.
The Federal Government plans to allocate a significant portion of its budget to debt servicing between 2025 and 2027, outpacing allocations for capital expenditure.
Debt servicing has emerged as a significant component of Nigeria’s foreign payment obligations in 2024, accounting for a staggering 63.56% of the total $5.63 billion foreign payments in nine months.
Nigeria has spent $2.78 billion on servicing foreign debt in the first seven months of 2024, according to the international payment statistics of the Central Bank of Nigeria.
The World Bank Group has predicted a positive trend for African countries, noting that their public debt will drop in 2024.
The Vice President of Nigeria, Kashim Shettima, has said that President Bola Tinubu had to make the difficult decision to remove petrol subsidy because he inherited an economy in poor condition with a debt service-to-revenue ratio of 111.8%.
FG incurred a sum of N4.22 trillion on debt servicing in 2021, increasing by 29.3% compared to N3.27 trillion spent in 2020.
The Central Bank of Nigeria (CBN) has stated that heavy debt servicing is taking a toll on lean...
The Federal Government has revealed that it spent the sum of N2.89 trillion on debt servicing between January...
Sukuk proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country.
Join Adetayo, Lawretta Egba, Senior Financial Analyst and Olumide Adesina, Investment Analyst at Nairametrics as they dicuss how...
The DMO has revealed that the Coronavirus outbreak would affect the FG's ability to service Nigeria's debt which is currently about N26.2 trillion.