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MTN chairman blames govt failures for South Africa’s

  • 26th June 2026

Emefiele opposes EFCC statements in alleged fraud trial

  • 26th June 2026

LASEMA recovers nine bodies, rescues 27 from collapsed

  • 26th June 2026

Oil prices slide further as tanker traffic via

  • 26th June 2026

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MTN chairman blames govt failures for South Africa’s xenophobia

Business

Emefiele opposes EFCC statements in alleged fraud trial

Business

LASEMA recovers nine bodies, rescues 27 from collapsed Lagos

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Oil prices slide further as tanker traffic via Hormuz

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Tag: Debt

Finance

FG clears over ₦700bn contractor debts

The Federal Government has processed payments exceeding N700bn in verified obligations owed to local contractors over the past few months, including N436.6bn disbursed in May alone, as part of efforts to clear long-standing debts and stimulate economic activity. The PUNCH reported that the Federal Ministry of Finance disclosed this in a statement issued on Monday […]

Business

Top 10 FMCG firms incur ₦1.963trn debt in 2025

Analysis of the audited 2025 full-year financial statements of top ten Fast-Moving Consumer Goods companies in Nigeria has revealed that the firms incurred a combined debt burden of about N1.963 trillion, underscoring the mounting pressure facing operators in the consumer goods sector amid soaring inflation, rising interest rates and foreign exchange volatility. Vanguard reported that […]

Economy

IMF forecasts Nigeria’s debt ratio drop to 32.3% in 2026

The International Monetary Fund projects Nigeria’s debt-to-GDP ratio will decline to 32.3 per cent in 2026, from 35.5 per cent in 2025, before rising slightly to 33.1 per cent in 2027. The fund disclosed this in its Fiscal Monitor report released on Wednesday at the ongoing IMF/World Bank Spring Meetings in Washington, D.C., pointing to […]

Oil and Gas

Tinubu writes off $1.42bn, N5.57tn NNPCL debts

President Bola Tinubu has approved the cancellation of a large portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn following a reconciliation of records between both parties. The approval is contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission […]

CBN halts cash payment for travel allowance fees
News

Nigeria’s debt could hit N160.6tn by year-end, stockbrokers warn

Nigeria’s total public debt may surge to N160.6 trillion by the end of 2025, raising fresh concerns over the country’s fiscal sustainability, according to a new report by CSL Stockbrokers Limited. In its 2025 second-half economic outlook, the financial services firm—a subsidiary of FCMB Group Plc—projects that the Federal Government may be forced to borrow […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
News

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months

Nigeria’s debt crisis is worsening, with the Federal Government borrowing a staggering N10.85 trillion from domestic sources between January and April 2025, according to fresh data from the Debt Management Office. The surge in borrowing comes amid a 48.6% year-on-year spike in total public debt, which reached N144.66 trillion in 2024. Of this, the FG […]

News

Paris Club cancels 99% Somalia debt

The Paris Club of creditors has reached an agreement with the government of Somalia to cancel up to $2 billion of the country’s debt, approximately 99 % of which is owed by the country to the group. This was disclosed in a statement from the group yesterday where it stated it will forgive the country’s […]

NCC orders MTN to disconnect Globacom amid interconnect debt dispute
Telecommunications

NCC orders MTN to disconnect Globacom amid interconnect debt dispute

The Nigerian Communications Commission has authorized MTN to disconnect Globacom partially due to the former’s failure to pay interconnect debt. According to Nairametrics, Globacom subscribers will be unable to make calls to any MTN number as a result of the partial disconnection. Glo consumers, however, can receive inbound calls from MTN customers. The NCC made the announcement […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers urge FG to clear $7bn debt

The Manufacturers Association of Nigeria has requested the Federal Government to resolve the present $7 billion Forex backlog. The PUNCH reported that MAN has stated that 2024 may not be a good year for manufacturers and that the first six months of the year will be difficult for industry players. The association’s Director-General announced this in […]

Nigerian startups owe $415m 10-year debt – Report
featured News Tech

Nigerian startups owe $415m 10-year debt – Report

Briter Bridges, a research and market intelligence company which focuses on developing nations, has stated that approximately $415 million has been borrowed by Nigerian digital entrepreneurs over the past ten years. According to the report “Debt Financing in Africa’s Innovative Ecosystem,” between 2014 and 2023, African startups as a whole borrowed a total of $2.1 […]

NNPCL fuel subsidy gains not fully remitted - World Bank
Business

Debt crisis looms for developing countries — Report

Nigeria and 121 other developing nations paid over $443.5 billion in interest on their public foreign debt in 2022, according to a recent World Bank analysis. The Times reported that these nations spread across Europe, East and Central Asia, Latin America, North Africa, and Sub-Saharan Africa. The world’s poorest nations are facing a debt crisis, […]

NNPCL fuel subsidy gains not fully remitted - World Bank
featured

How personnel costs, debt servicing surpassed 2022 FG’s revenue – W’Bank

A report from the World Bank has shown that for the first time, the Federal Government’s spending on personnel costs and debt servicing in 2022 exceeded its total revenue. The Punch reported that this information was revealed in the Nigeria Development Update for June 2023. During the time period under study, the Federal Government used 102% of its […]

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