Tag
PUBLIC DEBT
Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year increase of N27.72 trillion or 22.8% when compared to the N121.67 trillion recorded in the corresponding period of 2024.
United Nations Deputy Secretary-General Amina Mohammed has urged global leaders to implement debt relief measures and sustainable financing solutions for Nigeria and other African nations struggling with mounting public debt.
Nigeria’s total public debt rose to N142.3 trillion as of September 30, 2024, representing an increase of 5.97% (N8.02 trillion) compared to N134.3 trillion in June 2024.
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A review Nigeria's Q1 2024 debt portfolio, noting decreased total debt but rising costs due to higher interest rates.
Global ratings agency, Moody’s has stated that Nigeria’s interest spending on debt might consume up to 36% of the federal government’s revenue in 2024.
According to data from the Debt Management Office (DMO), the total public debt in Nigeria is an estimated N97.34 trillion ($108.23 billion) as of December 2023.
The Paris Club of Creditors have reached an agreement with the government of Somalia that will result in the cancellation of up to $2 billion of the country’s debt- approximately 99% of the debt owed by the country to the group.
The Central Bank of Nigeria (CBN) has sold N161.5 billion worth of Nigerian Treasury Bills (NTBs) across various maturities at its auction on March 13, 2024.
The Federal Government seeks to borrow N450 billion from its third FGN bond auction of 2024, according to the latest circular from the Debt Management Office (DMO).
The African Development Bank's President, Akinwunmi Adesina is advocating for an end to the practice of offering loans in return for access to Africa's abundant oil reserves and vital minerals, which are essential for producing smartphones and electric car batteries.
The Central Bank of Nigeria (CBN) has completed another round of Treasury Bills (T-Bills) auction, offloading about N1.3 trillion.