Nigeria has entered the red zone, not by accident, but by design. The numbers now speak louder than the excuses.…
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Speaker of the House of Representatives, Tajudeen Abbas, has raised alarm over Nigeria’s rising debt profile, warning that it has…
Despite a slight national drop in subnational borrowing, Nigeria’s ten most indebted states have collectively increased their debt burden, recording…
[ASHENEWS] June 28, 2025 – Nigeria’s total public debt has continued its upward trajectory, reaching a staggering ₦149.39 trillion (approximately…
The Debt Management Office (DMO) has clarified that President Bola Tinubu inherited a total of N87.38 trillion in public debt…
Nigeria’s public debt stock surged to N134.3 trillion ($91.3 billion) by the end of the second quarter of 2024. This was an increase of 10.35% from the N121.7 trillion ($91.5 billion) recorded in the first quarter and announced by the Debt Management Office (DMO).
The Debt Management Office (DMO) is offering three Federal Government of Nigeria (FGN) bonds valued at N300 billion for subscription at N1,000 per unit.
As of December 2023, Nigeria’s total gross domestic product (GDP) was N229.9 trillion in nominal terms, though it grew by only 2.74% in real terms. This suggests that the country’s debt-to-GDP ratio is now above 50% for the first time.
Amid concerns over rising debts service costs, states have been working to decrease their debts stock. In Q1 2024, states’ total domestic debts dropped by 31% from N5.86 trillion in Q4 2023 to N4.07 trillion and by 26% from N5.48 trillion in Q1 2023.
The fresh borrowing includes N2.81 trillion as part of the new domestic borrowing of N6.06 trillion provided in the 2024 Appropriation Act and N4.90 trillion as part of the securitisation of the N7.3 trillion Ways and Means Advances approved by the National Assembly.