Tags : Debt Crisis

FG’s New Borrowings Rise In Six Years 

The new borrowings by the Federal Government of Nigeria have deepened as allocations rose by 278.03 percent between 2015 and 2021. This is N4.03trillion within the six years  This was disclosed in the presentation of the public debt data as of December 31, 2021, by the Director-General of the Debt Management Office, Patience Oniha. According […]Read More

Nigeria’s Debt To Five Countries Hits $4.26bn

Nigeria’s debt to China, France, Japan, India and Germany has risen to $4.26bn as of June 30, 2021 from $3.85bn at the end of 2019. Data obtained from the Debt Management Office showed that the country spent $402.74m in the 18-month period servicing bilateral loans, even as it borrowed $400m. As of December 31, 2019, […]Read More

Nigeria debt Stock Hits N2.36tn In 3 Months

The total public debt stock of Nigeria has risen from N33.11 trillion as of March 31, 2021 to N35.47.trillion as of June 30, 2021. This shows an increase of N2.36 trillion or 7.13 percent within  three months This was disclosed by the Director General of the Debt Management Office, Patience Oniha, who provided a breakdown […]Read More

FG Spent 97% Of Jan-May Revenue On Debt Servicing

The federal government has spent N1.8 trillion on debt servicing between January and May 2021. This is out of the N1.84 trillion revenue generated within the same five months. This puts the nation’s debt-to-revenue ratio, a key measure of debt sustainability, at 97.8 percent for the period under review. The Minister of Finances and National […]Read More

Sudan PM Reveals Plan To Clear $60Bn Foreign Debt

Prime Minister Abdalla Hamdok has mapped out a plan that he hopes would help the country settle its staggering $60 billion foreign debt bill this year. The seasoned UN economist-turned-premier revealed plans to secure relief and deals at an upcoming Paris conference that could bring much-needed investment.  Hamdok took office as the head of a […]Read More