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Nigeria’s public debt hits ₦153.29tn amid rate cut

Economic watchers have said that Nigeria’s improving macroeconomic indicators, including a cautious 50-basis-point rate cut by the Central Bank of Nigeria, easing inflation, exchange rate stability, stronger external reserves, and sustained GDP expansion, are being overshadowed by a steadily rising public debt profile. According to the Debt Management Office, Nigeria’s total public debt rose to […]

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Nigeria’s debt to hit N77tn, loan servicing N5.2tn

Nigeria’s public debt load could reach N77 trillion if the National Assembly approves the President’s, Major General Muhammadu Buhari (retd.), request to restructure the Ways and Means Advances. According to The PUNCH, the Central Bank of Nigeria uses a borrowing instrument called Thee Ways and Means Advances to pay for budgetary gaps in the government. […]

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Nigeria’s debt hits N42.84tn in Q2 – NBS

Nigeria’s public debt stock increased from N35.46 trillion (86.57 billion dollars) in the second quarter of 2021 to N42.84 trillion (103.31 billion dollars) in the corresponding period in 2022. Public debt stock includes external and domestic debts. The National Bureau of Statistics made the declaration in its Nigerian Domestic and Foreign Debt Report for Q2 […]