Tags : Debt Servicing

Nigeria’s Debt Service, Revenue May Hit 102%

The World Bank has said that Nigeria’s debt service to revenue ratio could stand at 102.3 percent by the end of 2022. The Washington-based bank said this in its latest Africa’s Pulse report, which is a biannual analysis of the near-term macroeconomic outlook for the region, published around the World Bank/IMF Spring and Annual meetings […]Read More

Nigeria Spends N6.16tn On Debt Servicing

According to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper, debt service gulped N6.16trllion in 16 months. In 2021, the Federal Government spent N4.22trllion on debt service, and further N1.94trllion between January and April 2022. A breakdown shows that domestic debt service cost N2.05trllion, while foreign debt service gulped N946.29billion in 2021. There […]Read More

Nigeria Spends N896.7bn On Debt Servicing In Q1’22

The Debt Management Office has said that Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22. This represents a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. In its External and Domestic Debt Service Payment Reports for Q1’22, the […]Read More

Debt Servicing May Gulp 100% Of FG’s Revenue By 2026

The International Monetary Fund has warned that debt servicing may gulp 100 percent of the Federal Government’s revenue by 2026.   The IMF predictions are hinged on if the government fails to implement adequate measures to improve revenue generation. The IMF’s Resident Representative for Nigeria, Ari Aisen, disclosed this while presenting the Sub-Saharan Africa Regional Economic […]Read More

Nigeria’s Total Debt Could Hit N50tn

The Centre for the Promotion of Private Enterprise has said that Nigeria’s debt can hit N50 trillion within the shortest possible time. These debts includes that of the Asset Management Corporation of Nigeria and borrowings from the Central Bank of Nigeria. The Chief Executive Officer, CPPE, Dr. Muda Yusuf, said this during an event to […]Read More

Nigeria Serviced Debt With N2.93tn In 2021

According to the data obtained from the DMO, findings showed that Nigeria spent N2.93 trillion on debt servicing payments in 2021. The Director-General, DMO, Patience Oniha, said the total public debt stock of Nigeria increased to N39.56tn in 2021. Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing, while it spent $1bn […]Read More

Nigeria Borrowed N6.64tn In 2021

The Debt Management Office has said that the total public debt stock of Nigeria increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, mentioned that the total debt includes new borrowings by the Federal Government and the sub-nationals. She also said that the amount helped in financing the budget deficit, […]Read More

Nigeria To Pay IMF $3.51bn In Five Years

The International Monetary Fund is expected to receive from the Federal Government of Nigeria a total of $3.51bn between 2022 and 2026 to offset a $3.4bn loan. This is according to information obtained from a webpage on the IMF’s website, titled ‘Nigeria: Financial Position in the Fund as of January 31, 2022.’ Recall in April […]Read More

Nigeria Serviced Debt With N1.47tn In 6 Months

The Debt Management Office has revealed that Nigeria spent N1.47 trillion on debt servicing payments in the first half of 2021. In the first quarter of the year, the country spent N1.02tn on both domestic and external debt servicing, while a total of N445.45bn was spent in the second quarter of 2021. Between January to […]Read More

Nigeria Spent N445bn On Debt Servicing In Q2

Data obtained from the Debt Management Office have shown that Nigeria has spent a total of N445.4 billion to service the debt  in the second quarter of this year. From April to June 2021, Nigeria spent N322.7bn on domestic debt servicing, while $299m (N122.7bn) was spent on external debt servicing. The exchange rate of the […]Read More