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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…
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Nigeria Incurs N950bn Domestic Borrowing In Q1 2022
The Debt Management Office has revealed that the federal government of Nigeria has incurred a new N950bn domestic borrowing between January 2022 and March 11, 2022. The fresh borrowing was disclosed by the Director-General of the DMO, Patience Onihain in the presentation of the Public Debt Data as of December 31, 2021. In the…
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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…
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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,…
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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,…
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In Three Months, Nigeria’s Debt Rises By N2.54tn
The Debt Management Office disclosed that Nigeria’s public debt has risen to N38.005tn as of the end of the third quarter of 2021. In a press statement titled, ‘DMO publishes total public debt for Q3 2021’, and published on the DMO’s website, the debt agency said the total debt figure comprised total external and domestic…
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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…
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Nigeria- China Debt Now Stands At $3.40 Billion
The Debt Management Office (DOC) has revealed the Buhari-led government has incurred a loan that totals $2.20 billion from the Chinese government since its inception in 2015. According to the statistics obtained from the DMO, Nigeria’s total debt from China as of June 30, 2015, stood at $1.38bn. However, the country’s debt portfolio from China…