Tag: debt profile
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Mounting debt profile: FG snobs IMF’s warning, seeks fresh $247.3m external loan
The Federal Government on Wednesday finalised plans to request another fresh external loan of $247.3m despite mounting debt profile and initial warning by the International Monetary Fund (IMF) for the country’s leaders to avoid borrowing for now if possible. TheNewsGuru (TNG) reports that the country’s current debt stood at N24.38tn. The Federal Executive Council made…
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States’ debt profile increase to N3.89trn in 2016 – BudgiT
A civic technology organization, BudgiT Nigeria has expressed concern over the rising debt (domestic and foreign) profile of the 36 states of the federation. According to BudiT, the debt profiles which was N3.03 trillion in 2015 increased to N3.89 trillion in 2016. This was revealed on Thursday in Abuja by the Lead Partner of BudgIT,…
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Mounting debt profile: DMO bars states from further borrowing
…urges states to be more proactive in generating funds internally The old practice where States had easy access to borrowing from either foreign or local borrowing windows has now been halted. The new Director –General of the Debt Management Office (DMO), Ms. Patience Oniha made this disclosure yesterday in Abuja when the Edo State Governor,…
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Expert dispels fear over Nigeria’s N19trn debt profile
Prof. Uche Uwaleke, says there was no need to be apprehensive over the nation’s N19.16 trillion debt profile, if the loans were utilised for the development of capital projects. Uwaleke, a Professor of Banking and Finance, Nasarawa State University, Keffi, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on…