AfDB flags Nigeria’s rising debt costs: 75% of revenue goes to interest payments
The African Development Bank (AfDB) has flagged Nigeria’s rising debt costs, stating that the country is projected to spend 75% ...
Tag: FX Reserves
Nigeria’s external debt service bill hits $2.01 billion in four months, gulps 77% of foreign payments
Nigeria spent over $2.01 billion on external debt servicing between January and April 2025, marking a 50% jump compared to ...
CBN links foreign debt service to $2.57 billion drop in FX reserves in Q1 2025
Nigeria’s gross foreign exchange (FX) reserves fell by $2.57 billion from January to March 2025, marking a 6.29% decrease over ...
Nigeria’s FX reserves fall by $832.62 million in two weeks, biggest drop since April 2024
Nigeria’s foreign exchange reserves declined significantly in two weeks this January 2025, falling by $832.62 million between January 6 and ...
Nigeria’s FX reserves surge by $591.78m one month after Eurobond auction
Nigeria’s foreign exchange (FX) reserves have recorded an increase of $591.78 million in the month following the government’s $2.2 billion ...
Nigeria’s FX reserves rise by $620 million in 10 days after domestic dollar bond sale
Nigeria’s foreign exchange (FX) reserves rose by $621.2 million in 10 days following the successful sale of a domestic dollar ...
Nigeria was spending $1.5 billion monthly to defend the Naira before Tinubu’s FX reforms – Presidency
The special adviser to the President on Information and Strategy, Bayo Onanuga, said Nigeria was spending a whooping sum of ...
Nigeria’s FX reserves gain $535 million in 28 days as official market struggles with scarce dollars
Nigeria's foreign exchange (FX) reserves have increased by approximately $535 million over the past 28 days, as the official market ...
Buhari unaware of the depletion of Nigeria’s foreign reserves under Emefiele – Tinubu’s Aide
Ajuri Ngelale, the spokesperson for President Bola Tinubu on Media and Publicity, stated that the previous president, Muhammad Buhari, was ...
S&P downgrades Nigeria
S&P Global Ratings agency has downgraded Nigeria from stable outlook to negative.
