Nigeria’s external debt may rise to $45.1 billion by the end of 2024 as the Federal Government advances plans to secure additional external funding. The Debt Management Office (DMO) revealed in its latest report that the country’s external debt stock increased by $780 million in the second quarter of 2024, growing from $42.12 billion in March to $42.9 billion as …

The Federal Government, through the Debt Management Office, has failed to make coupon payments on two savings bonds due to ongoing system and processing issues. As a result of this, the office has missed two coupon payments in two months. A report by Bloomberg stated that the first coupon payment on the two-year and three-year debt instruments, through which the …

In the first six months after taking office, 13 new state governors collectively borrowed N226.8 billion from domestic and external financiers. This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3 billion with domestic and external debt of N243.95 billion and $298.5 million (N265.37 billion), respectively. The external …

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 …

Nigeria’s debt servicing spending declined by 43.04 per cent in the second quarter of 2023 with N849.58 billion in the second quarter of 2023 as against N1.49 trillion in Q1 2023. According to data obtained by The PUNCH from the Debt Management Office (DMO), between January and March 2023, Nigeria spent N874.13 billion on domestic debt servicing, while $801.36 million …