Nigeria has become the third largest debtor to the World Bank’s International Development Association (IDA) as of 30 June 2024, marking a significant increase in the country’s borrowing from the institution. This development has reflected a substantial shift in Nigeria’s financial landscape under the administration of President Bola Tinubu. According to the World Bank’s latest financial statements, Nigeria’s exposure to …

The Federal Ministry of Finance has recovered over N57 billion from the N5.2 trillion debts owed by ministries, departments and agencies (MDAs) to the Federal Government. The Director of Special Projects, Federal Ministry of Finance, Aisha Omar, disclosed this in Enugu on Tuesday, during a one-day workshop on the Federal Government Debt Recovery Drive, through the Project Lighthouse Programme for …

The Debt Management Office (DMO), has said that Nigeria’s total public debt as of 30 September 2023, amounted to ₦87.91 trillion or $114.35 billion. This figure encompasses both domestic and external debts owed by the federal government, the 36 state governments, and the Federal Capital Territory. The total public debt stock shows a marginal increase of 0.61 percent compared to …

The former Kaduna State Governor, Malam Nasir El-rufai has declared that he left N80.60 billion in local debts and $577.32 million in foreign debts for the new Governor of the state, Senator Uba Sani. In his farewell speech to the people of the state on Monday, he also disclosed that N5 billion was left in Treasury Single Account and $2.05 …