Tag: DEBT

  • FG OWING GENCOS DEBT IN TUNE WITH N1tn in SIX MONTHS PERIOD

    FG OWING GENCOS DEBT IN TUNE WITH N1tn in SIX MONTHS PERIOD

    ‎ Recent Report from the Nigerian Electricity Regulatory Commission (NERC) say in the first half of 2025, federal government owed electricity generation companies over N1.05 trillion in power subsidy payments for both Q1 and Q2. The subsidy obligations increased due to the absence of cost-reflective tariffs, requiring the government to cover the gap between actual…

  • SPEAKER ABBAS WARNS AGAINST NIGERIA’S DEBT BURDEN, DEMANDS SWIFT REFORMS

    SPEAKER ABBAS WARNS AGAINST NIGERIA’S DEBT BURDEN, DEMANDS SWIFT REFORMS

    Nigeria’s Speaker of the House, Abbas Tajudeen has warned that the nation’s public debt, which reached N149.39 trillion (US$97 billion) in Q1 2025, has exceeded the statutory 40% debt-to-GDP ceiling, hitting 52%. Speaking at the 11th Annual Conference of the West Africa Association of Public Accounts Committees in Abuja, he highlighted the threat to fiscal…

  • STATES HIT 68% INCREASE IN FOREIGN DEBT PAYMENTS

    STATES HIT 68% INCREASE IN FOREIGN DEBT PAYMENTS

    Report says Nigerian states spent approximately N235.58 billion on external debt servicing in the first half of 2025, marking a 68.4% increase approximately(N95.65 billion) from N139.92 billion in the same period of 2024. This surge underscores the growing pressure of dollar-denominated debt repayments amid the naira’s depreciation. While External debt payments are managed through an…