Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen warned that Nigeria’s debt profile has reached a critical level, urging parliaments across West Africa to strengthen oversight of public borrowing to safeguard the future of their citizens. The Speaker raised the alarm on Nigeria’s debt profile, while speaking at the 11th Annual Conference and…
Former presidential aide, Reno Omokri, has accused Labour Party’s 2023 presidential candidate, Peter Obi, of spreading false information about Nigeria’s debt profile, claiming it is deterring foreign investors from the country. Speaking during an appearance on Channels Television’s Politics Today on Wednesday, Mr Omokri alleged that Obi’s statements were misleading and damaging to the country’s…
Nigeria’s total public debt rose to N144.67tn ($94.23bn) as of December 31, 2024, representing a 48.58 per cent increase compared to N97.34tn ($108.23bn) recorded at the end of December 2023. The Debt Management Office disclosed this in its latest report on the country’s public debt profile. The report also revealed a quarter-on-quarter rise of 1.65…
Nigeria’s public debt has reached an all-time high of N134.3 trillion, as of the end of the second quarter of 2024. This represents a sharp increase compared to the N121.7 trillion recorded just a few months earlier in the first quarter. The main reason for the increase is the devaluation of the country’s currency, the…