Tag: Debt
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Pay your debts with 2019 budget proposals, Reps tell NDDC
The House of Representatives has directed the Niger Delta Development Commission (NDDC) to settle all it’s liabilities with its 2019 budget proposals. This disclosure was revealed when the NDDC Interim management led by the Acting Managing Director presented the Commission’s 2019 budget before the House Committee on NDDC on Tuesday. Recall that, the House had…
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Nigeria’s N25.7tr debt not worrisome – Finance Minister
There is nothing worrisome about Nigeria’s debt portfolio, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said on Wednesday. She said foreign and domestic debt stock notwithstanding, Nigeria does not have a debt crisis. Nigeria’s domestic and external debt portfolio stood at N25.7 trillion (about $83.88 billion) as at June 30, according to…
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Finance Minister counters DMO, says Nigeria’s debt more than N25.7tn
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday said there are debts owed by states and government enterprises that have not been captured in the N25.7 trillion recently declared as total national debt. Ahmed made this known during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings…
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Nigeria owed N25.7trn debt as at June 30 — DMO
The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically and externally. The DMO said this in its ‘Total Public Debt Portfolio’ obtained from its website on Wednesday in Abuja. The News Agency of Nigeria (NAN) reports that as at Dec. 31, 2018, Nigeria’s total debt stock…
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Nigeria’s debt hits N25.7trn – DMO
Nigeria’s total public debt increased by to N25.7 trillion as at the end of June 2019 from N22.38 trillion as of June 2018, the Debt Management Office (DMO) said yesterday. This means that the country’s debt increased by N3.32 trillion in one year. The debt stock, the DMO said, is made up of N8.32 trillion…
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Osinbajo inaugurates committee to recover N5tr AMCON debts
Vice President Yemi Osinbajo on Tuesday inaugurated an inter-agency committee to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON). A statement by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, disclosed this on Tuesday. The statement said that members of the committee include heads…
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NECO withholds Niger students’ results over N470m debt
Students in public secondary schools in Niger State are currently unable to access their NECO May/June SSCE results as the examination body has withheld the results of the students due to debts owed by the government. The NECO May/June SSCE results were released on the 27th of August 2019. Students bemoaned their inability to access…
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N537m debt: Court clears Duke after N350m payment
A Federal High Court in Lagos on Wednesday cleared a former Cross River State governor Mr Donald Duke of his N537,334,360.77 debt to Asset Management Corporation of Nigeria (AMCON) after he paid N350 million as final settlement. The court discharged its August 21 interim order which had permitted AMCON and the United Bank for Africa…
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Give me 12 hours to clear my N537m debt, Donald Duke begs court
A former Cross River State Governor Donald Duke on Monday told a Federal High Court in Lagos that he would pay his N537, 334,360.77 debts to Asset Management Corporation of Nigeria (AMCON) in less than 12 hours. Duke, through his counsel, Mr Edoigiawerie Omoruyi, told Justice Nicholas Oweibo that he had approached AMCON with a…
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Nigeria’s Eurobonds debt rises to $10.9bn from $1.5bn in 2015
Nigeria’s external debt stock rose by 148 percent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office (DMO) showed. The external debt soared to $25.61 billion as at March 31, 2019 from $10.32 billion as at June 30, 2015, according to the DMO, with Eurobonds worth $10.87 billion…