With the approval of a fresh $22.7 billion foreign loan requested by President Muhammadu Buhari, Nigeria’s debt profile has reached a high of N33 trillion. The Senate on Monday declared this just as the Director – General of the Debt Management Office (DMO), Ms. Patience Oniha, expressed fear that economic effects of the Coronavirus pandemic […]
The Attorney General of the Federation (AGF), and Minister of Justice Abubakar Malami (SAN) recently said that the ministry is battling with unpaid staggering sum of N150 billion as judgment debts. He revealed this while defending the ministry of Justice’s 2020 budgetary allocation before the Senate committee on judiciary, Human Rights and legal matters. According […]
…Warns against Nigeria’s looming debt crisis …Worries about Nigeria’s capacity to service high debt The Lagos Chamber of Commerce and Industry has decried Nigeria’s debt profile, stating that the fresh $29.960bn loan request by President Muhammadu Buhari is troubling and could lead to a full-blown debt crisis. President Muhammadu Buhari had on Thursday, re-sent the […]
…As Buhari collects N8.14trn loan in 4yrs .Set to borrow additional N4.6trn in next 3 years …Stakeholders decry rising deficit, borrowings Nigeria is currently experiencing an all-time high external debt profile of $25,609.63 billion representing its equivalent of N7.860 trillion, even as the Federal Government is currently projecting a deficit budget in the year 2020 […]