•Tinunu presents budget proposal to NASS Chief Economist, Senior partner at SPM Professionals, Paul Alaje said Nigeria may have to borrow to service debt in 2025 if the federal government does not take serious precautionary measures. Alaje stated this during an interview with Arise Television yesterday. He said, “You look at the debt profile t...
•Olusegun Obasanjo Former President Olusegun Obasanjo has said financial impropriety by the previous governments had forced Nigeria into a debt burden the coming generations would have no option but to pay. According to a statement by his Media Aide, Kehinde Akinyemi, the former president made the observation during a meeting with 2023 awardee...
•Nigerian debt problem The Debt Management Office (DMO), yesterday revealed that Nigeria’s sovereign debt as at September 30, 2023 was N87.91 trillion or $14.35 billion. The figure represents the domestic and external debts of the federal government, the 36 states and the Federal Capital Territory. At N87.91 trillion, the total public debt sto...
Nigeria and other developing countries have spent about $441bn on debt-serving in the past 40 years, according to a new World Bank report. The World Bank report also disclosed that Nigeria received $2.9b and topped the recipients of its fresh loans in 2022. According to its International Debt Report for 2023, Nigeria was followed by […]
The Federal High Court in Lagos has transferred to the Lagos State High Court a suit by Sparrow Global Logistics & Energy Services Ltd seeking to recover a disputed $187, 000 debt from a foreign-owned firm, Niger Star 7 Ltd. Justice Ambrose Lewis-Allagoa made the order after hearing arguments from Kolawole Uzamot, who led Chioma […]
•TUC President Festus Osifo The Trade Union Congress (TUC) leadership today expressed concern about Nigeria’s escalating debt profile, urging the Federal government to promptly reduce borrowing. This call to curtail borrowing is a key resolution from the TUC’s National Executive Council meeting in Abuja. The TUC also cautioned against the pote...
Director General of Debt Management Office (DMO), Ms. Patience, today, disclosed that the country’s debt stock stands at N87.37 trillion as at September 30, 2023. Ms. Oniha who disclosed this during an interactive session held at the instance of House Committee on Appropriations chaired by Hon. Abubakar Bichi, however, noted that while justify...
•Makinde The Court of Appeal Abuja has affirmed the April 27 decision of the Federal Capital Territory High Court, ordering the Oyo State Governor, Seyi Makinde to pay the outstanding balance of 3.4 billion naira from the 4.9 billion naira debt, arising from a May 7, 2021, judgment of the Supreme Court. The 4.9 billion […]
The devaluation of the naira has increased Nigeria’s debt profile by N20.6trn trillion in five months. A data analysis by this paper indicates that the new borrowing plans by the federal government will see the total debt level hit N89.2 trillion before the end of the year, reports Daily Trust. If shared to Nigeria’s 213 […]
•Ganduje The New Nigerian People Party (NNPP)’s government of Kano State has alleged that the immediate past All Progressives Congress (APC) government of Abdullahi Umar Ganduje left the state with a debt burden of over N500 billion. Deputy Governor Aminu Abdussalam Gwarzo stated this in Kaduna while chairing the North-West Zonal Meeting of NN...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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