Tag: Debt
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Man hacks only brother to death over N100,000 debt
The police in Niger State have arrested a 45-year-old, ldris Aliyu of Daka’agi village in Wushishi Local Government Area, for allegedly killing his younger brother, Aliyu Aliyu. According to eye witness accounts, Aliyu was cut with a machete by his older brother for refusing to agree to the sale of farm products to offset a…
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Nigeria’s total debt stock grows to 24.3trn – DMO
The Debt Management Office (DMO) has announced Nigeria’s total debt stock comprising external and domestic debts stand at N24.387 trillion. Director General of the DMO Ms. Patience Oniha made this disclosure at the public breakdown of the nation’s public debt data in Abuja on Thursday. According to Oniha: “the Total Public Debt stood at N24.387…
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Davido is not one of my debtors- Lagos club owner reveals
Richard Nnadi, the owner of popular club, Escape Lagos has praised Davido for paying the debt he owed his club. Richard took to his Instagram page on Friday to share a transcript of an old conversation he had with Davido, recounting how the singer settled a debt of N2,000,000 on March 10, 2017. “Good evening…
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Nasarawa Govt. clears N40bn debt – Al-Makura
Nasarawa State Governor, Umaru Al-Makura, on Wednesday said the state government had cleared more than N40 billion debt incurred before the inception of his administration in 2011. Al-Makura disclosed this in Lafia at the inauguration of the state transition committee for the smooth hand-over on May 29. He said as at December 2016, the state…
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I inherited over N155.79b debt from Fayose – Fayemi
Ekiti State Governor Kayode Fayemi has expressed concern over the state’s debt profile under the immediate past Ayodele Fayose administration. The governor said his predecessor left an humongous debt profile of N155,791,785,214 as at October 16, before he assumed office. Fayemi made the allegations in his “State of the State” address marking his administration’s first…
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Nigeria’s rising debt service cost worries employers
The Nigerian Employers Consultative Association (NECA) has cautioned the federal government against the rising debt service cost. The association also warned that the economy may be edging in the direction of pre-debt relief era if the rising appetite for debt is not curtailed. NECA, which is a key member of the nation’s organised private sector…
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Money, Money Everywhere & Yet More Debt, By Henry Boyo
By Henry Boyo The IMF Country Chief, Amine Mati, who spoke last Thursday (November 8, in Abuja, at the presentation of the Regional Outlook for Sub-Saharan Africa, 2018), was clearly concerned that, despite Nigeria’s very precarious 1.9 percent projected growth rate for 2018, and a debt to GDP ratio between 20-25 percent, Nigeria however, is…
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Nigeria not in debt crisis for now —DMO
The Director-General of Nigeria’s Debt Management Office (DMO), Ms Patience Oniha, has allayed fears of some observers that the country was already in a debt crisis. However, the debt office boss admitted that the nation was not generating enough revenue to fund some critical operations, but stressed that Nigeria was still capable of servicing her…
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Eight African countries in debt distress, says IMF
The International Monetary Fund (IMF), has categorised eight African countries as being in debt distress, the Director, African Department at the IMF, Abebe Selassie, has said. Selassie, who addressed over a thousand participants at a special session on African development at the on-going 2018 International Monetary Fund (IMF)/ World Bank Group Meetings in Bali, Indonesia,…
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Fed Govt, states debts rise to $22b – DMO
The Debt Management Office (DMO) on Wednesday put Nigeria’s external debt stock at $22 billion. Out of the amount, the Federal Government’s quotient is $17.8 billion, while the combined debt portfolio by the states and the Federal Capital Territory (FCT) stands at $4.28 billion. Of the combined states’ figure, Lagos State, the commercial nerve-centre of…