Tag: debt profile
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Lagos, Delta top as Nigeria’s debt profile skyrockets to N44.06trn
Nigeria’s public debt stock, which includes external and domestic debt has increased to N44.06 trillion (US$101.91 billion) in Q3 2022 from N42.84 trillion (US$ 103.31 billion) in Q2 2022.
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JUST IN: Gombe Govt denies N432bn debt profile
Gombe State Commissioner of Finance and Economic Development, Mr Muhammad Magaji has denied the State owes over N432 billion in debts.
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Adeleke, Oyetola bicker over Osun state debt profile, IGR
The Osun State Government has released a statement denying that the immediate past governor of the state cleared all debts, and backlog of salaries, but said that they left a debt portfolio of N76bn in unpaid salaries, pensions, and insurance commitments for the present administrators.
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TNG Special Report: Nigeria seeks easy way out of N41. 6 trillion debt burden, plans to borrow more
The Nigerian government has proposed a Debt-For-Climate (DFC) Swap deal, as an easy option out for its mounting public debt which peaked at N41.6 trillion in the first quarter of 2022. The DFC swap is believed to have the potential of becoming a useful instrument to expand the fiscal space for underfunded climate investments. This…
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FG, States’ debt profile rise to N32.92trn – NBS
Nigeria’s total public debt portfolio as at Dec. 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States…
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Britain’s debt profile soars to record 2trn pounds
Britain’s Government debt on Friday soared to a record 2 trillion pounds (or 2.62 trillion dollars), surpassing the country’s annual GDP for the first time since 1961, officials said. Britain’s monthly public sector net borrowing rose over the four months to the end of July as the government increased public spending in response to the…
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NBS announces Nigeria’s new local, foreign debt profile
Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March, 2020, the National Bureau of Statistics has disclosed. Its website report titled “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’ domestic debt hits N18. 64 trillion, representing 65.11 percent of the entire debt profile. NBS said:…
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Nigeria in economic crisis: Atiku raises alarm over debt profile of Buhari-led govt
Former Vice President Atiku Abubakar has expressed shock that the Buhari administration in the first quarter of 2020, spent 99 percent of revenue to service debt. “No one should be deceived. This is a crisis!”, Atiku said in a statement today. “Debt servicing does not equate to debt repayment. “The reality is that Nigeria is…
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FG clears air on mounting debt profile, says no plan to remove fuel subsidy
The Minister of Finance, Mrs Zainab Shamshuna Ahmed, has disclosed that Nigeria’s borrowing still remains at 19 per cent to the Gross Domestic Product (GDP), and is low compared to Ghana, Brazil, South Africa, Egypt and Angola. The Minister made the statement while clearing the true position of reports surrounding the removal of fuel subsidy,…
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Mounting debt profile: ‘Nigeria safe to borrow additional N7.9trn’
Analysts at FSDH Research have said Nigeria still has room to borrow an additional N7.89 trillion before reaching a threshold of about N32 trillion. Recall that the Debt Management Office (DMO) during the week announced that Nigeria’s debt stood at N24.4 trillion as at December 31, 2018. The release of the report stirred a hot…