Debt – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Sat, 31 Jan 2026 20:58:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Debt – InfoStride News https://www.theinfostride.com 32 32 FG Vows to Sanction and Replace Weak, Indebted DisCos https://www.theinfostride.com/fg-vows-to-sanction-and-replace-weak-indebted-discos/ https://www.theinfostride.com/fg-vows-to-sanction-and-replace-weak-indebted-discos/#respond Sun, 01 Feb 2026 19:20:54 +0000 https://www.theinfostride.com/?p=470400 The Federal Government has issued a stern warning to electricity distribution companies (DisCos) that have failed to meet operational and financial obligations, stating that it will no longer tolerate inefficiency, indebtedness, or poor service delivery within the power sector. The government said that it is ready to revoke the licenses of non-performing DisCos and replace [...]

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]]> https://www.theinfostride.com/fg-vows-to-sanction-and-replace-weak-indebted-discos/feed/ 0 Power Sector on Brink of Collapse Without Urgent Debt Settlement, Minister Warns https://www.theinfostride.com/power-sector-on-brink-of-collapse-without-urgent-debt-settlement-minister-warns/ https://www.theinfostride.com/power-sector-on-brink-of-collapse-without-urgent-debt-settlement-minister-warns/#respond Wed, 28 Jan 2026 12:00:47 +0000 https://www.theinfostride.com/?p=463462 Nigeria’s power sector is teetering on the verge of systemic collapse unless the government and electricity market stakeholders move swiftly to resolve mounting debts owed across the value chain. The Minister of Power issued the warning during a high-level address this past week, emphasizing that unresolved liabilities are eroding operational viability, discouraging investment, and undermining [...]

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]]> https://www.theinfostride.com/power-sector-on-brink-of-collapse-without-urgent-debt-settlement-minister-warns/feed/ 0 Nigeria’s Debt to World Bank IDA Rises to $18.2 Billion – Report https://www.theinfostride.com/nigerias-debt-to-world-bank-ida-rises-to-18-2-billion-report/ https://www.theinfostride.com/nigerias-debt-to-world-bank-ida-rises-to-18-2-billion-report/#respond Thu, 22 Jan 2026 05:47:28 +0000 https://www.theinfostride.com/?p=465209 Nigeria’s debt obligations to the International Development Association (IDA), a subsidiary of the World Bank Group that provides concessional loans and grants to the world’s poorest countries, have climbed to $18.2 billion, according to the latest financial report. The figure underscores the country’s growing reliance on external borrowing to finance its development agenda amid pressing [...]

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]]> https://www.theinfostride.com/nigerias-debt-to-world-bank-ida-rises-to-18-2-billion-report/feed/ 0 Debt Burden Tops Agenda at AIO 2025 Conference in Ethiopia https://www.theinfostride.com/debt-burden-tops-agenda-at-aio-2025-conference-in-ethiopia/ https://www.theinfostride.com/debt-burden-tops-agenda-at-aio-2025-conference-in-ethiopia/#respond Mon, 12 Jan 2026 20:36:20 +0000 https://www.theinfostride.com/?p=425632 The 51st Conference and General Assembly of the African Insurance Organisation (AIO) kicked off in Addis Ababa, Ethiopia, with a bold focus on a pressing continental concern—Africa’s growing debt burden and its impact on the insurance industry. Under the theme “Balancing the Books: Africa’s Debt Problem – Why Does Country Debt Impact Insurers?”, the five-day [...]

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]]> https://www.theinfostride.com/debt-burden-tops-agenda-at-aio-2025-conference-in-ethiopia/feed/ 0 Nigeria’s Public Debt Soars by ₦57 Trillion in 18 Months https://www.theinfostride.com/nigerias-public-debt-soars-by-%e2%82%a657-trillion-in-18-months/ https://www.theinfostride.com/nigerias-public-debt-soars-by-%e2%82%a657-trillion-in-18-months/#respond Mon, 12 Jan 2026 17:50:39 +0000 https://www.theinfostride.com/?p=410312 Nigeria’s public debt has surged by ₦57.3 trillion over the past 18 months, escalating from ₦87.38 trillion in June 2023 to ₦144.67 trillion by December 2024. This represents a 65.6% increase, as reported by the Debt Management Office (DMO). Breakdown of Debt Accumulation Federal Government Debt: Domestic Debt: The Federal Government’s domestic debt rose from [...]

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]]> https://www.theinfostride.com/nigerias-public-debt-soars-by-%e2%82%a657-trillion-in-18-months/feed/ 0 2face Idibia Set To Face Legal Action Over Alleged N7m Debt https://www.theinfostride.com/2face-idibia-set-to-face-legal-action-over-alleged-n7m-debt/ https://www.theinfostride.com/2face-idibia-set-to-face-legal-action-over-alleged-n7m-debt/#respond Fri, 12 Dec 2025 23:20:57 +0000 https://www.theinfostride.com/?p=473376 Popular singer 2face Idibia might be facing legal action very soon. This comes after a court paper surfaced online, and fans have been reacting. According to a post shared by blogger Cutis Julss, the lawyer representing 2baba is set to take him to court if he refuses to pay the N7 million legal fee he [...]

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]]> https://www.theinfostride.com/2face-idibia-set-to-face-legal-action-over-alleged-n7m-debt/feed/ 0 Crude-for-Loans: NNPCL Battles N8.07tn Outstanding Debt https://www.theinfostride.com/crude-for-loans-nnpcl-battles-n8-07tn-outstanding-debt/ https://www.theinfostride.com/crude-for-loans-nnpcl-battles-n8-07tn-outstanding-debt/#respond Mon, 01 Dec 2025 16:52:33 +0000 https://www.theinfostride.com/?p=472673 Nigeria’s oil-dependent economy is once again in the spotlight as fresh disclosures reveal that the Nigerian National Petroleum Company Limited (NNPCL) is grappling with an outstanding crude-for-loan debt of approximately N8.07 trillion. The financial strain, stemming from long-standing crude repayment deals with international lenders and commodity traders, has raised new questions about transparency, fiscal sustainability, [...]

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]]> https://www.theinfostride.com/crude-for-loans-nnpcl-battles-n8-07tn-outstanding-debt/feed/ 0 Adamawa butcher freed after 17-year jail term over N150,000 debt https://www.theinfostride.com/adamawa-butcher-freed-after-17-year-jail-term-over-n150000-debt/ https://www.theinfostride.com/adamawa-butcher-freed-after-17-year-jail-term-over-n150000-debt/#respond Wed, 26 Nov 2025 11:00:46 +0000 https://www.theinfostride.com/?p=472479 A butcher in Adamawa State, Umaru Usman from Shelleng Local Government Area, has regained his freedom after serving 17 years in prison over a N150,000 debt. Usman was earlier sentenced to 17 years imprisonment by the Shelleng Area Court on charges of criminal breach of trust and cheating, and was remanded at the Numan Correctional [...]

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]]> https://www.theinfostride.com/adamawa-butcher-freed-after-17-year-jail-term-over-n150000-debt/feed/ 0 Nigeria Spends Nearly $3 Billion on Eurobond Servicing Since Tinubu Took Office https://www.theinfostride.com/nigeria-spends-nearly-3-billion-on-eurobond-servicing-since-tinubu-took-office/ https://www.theinfostride.com/nigeria-spends-nearly-3-billion-on-eurobond-servicing-since-tinubu-took-office/#respond Mon, 17 Nov 2025 12:24:12 +0000 https://www.theinfostride.com/?p=471731 Nigeria has spent close to $3 billion on servicing its Eurobond obligations under President Bola Tinubu’s administration, according to debt-management data and fiscal reports. The figure reflects the growing burden of external debt on government finances and underscores the challenges Nigeria faces in balancing debt obligations with budgetary priorities. According to data from the Central [...]

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]]> https://www.theinfostride.com/nigeria-spends-nearly-3-billion-on-eurobond-servicing-since-tinubu-took-office/feed/ 0 Afe Babalola Warns Nigeria’s Soaring Debt Levels Are Driving Away Foreign Investors https://www.theinfostride.com/afe-babalola-warns-nigerias-soaring-debt-levels-are-driving-away-foreign-investors/ https://www.theinfostride.com/afe-babalola-warns-nigerias-soaring-debt-levels-are-driving-away-foreign-investors/#respond Sun, 19 Oct 2025 19:48:25 +0000 https://www.theinfostride.com/?p=469485 Elder statesman and founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola (SAN), has raised serious concerns over Nigeria’s rapidly increasing debt profile, warning that the trend is eroding investor confidence and discouraging foreign investment inflows into the country.Speaking during an economic forum in Ado-Ekiti, Babalola lamented that Nigeria’s current fiscal trajectory poses a [...]

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]]> https://www.theinfostride.com/afe-babalola-warns-nigerias-soaring-debt-levels-are-driving-away-foreign-investors/feed/ 0 Electricity Regulators Reveal Bilateral Power Firms Owe Nigeria $8.5 Million https://www.theinfostride.com/electricity-regulators-reveal-bilateral-power-firms-owe-nigeria-8-5-million/ https://www.theinfostride.com/electricity-regulators-reveal-bilateral-power-firms-owe-nigeria-8-5-million/#respond Sat, 11 Oct 2025 18:17:01 +0000 https://www.theinfostride.com/?p=468843 The Nigerian Electricity Regulatory Commission (NERC) has disclosed that power generation and distribution companies operating under bilateral arrangements owe the Federal Government a total of $8.5 million in unpaid market invoices. The revelation underscores rising concerns about financial discipline in Nigeria’s electricity market and the challenges facing the transition to a more competitive energy sector. [...]

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]]> https://www.theinfostride.com/electricity-regulators-reveal-bilateral-power-firms-owe-nigeria-8-5-million/feed/ 0 World Bank Remains Nigeria’s Largest Creditor as Public Debt Rises to N152.4 Trillion https://www.theinfostride.com/world-bank-remains-nigerias-largest-creditor-as-public-debt-rises-to-n152-4-trillion/ https://www.theinfostride.com/world-bank-remains-nigerias-largest-creditor-as-public-debt-rises-to-n152-4-trillion/#respond Sat, 11 Oct 2025 17:35:59 +0000 https://www.theinfostride.com/?p=468821 Nigeria’s total public debt has reached N152.4 trillion as of June 2025, according to data released by the Debt Management Office (DMO). The report confirms that the World Bank remains the country’s biggest external creditor, with a total of $18.04 billion in outstanding loans—about 38 percent of Nigeria’s total external debt.The figures show that Nigeria’s [...]

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]]> https://www.theinfostride.com/world-bank-remains-nigerias-largest-creditor-as-public-debt-rises-to-n152-4-trillion/feed/ 0 CBN Reports Nigeria’s Debt Servicing Costs Reach $2.86bn in Eight Months https://www.theinfostride.com/cbn-reports-nigerias-debt-servicing-costs-reach-2-86bn-in-eight-months/ https://www.theinfostride.com/cbn-reports-nigerias-debt-servicing-costs-reach-2-86bn-in-eight-months/#respond Thu, 02 Oct 2025 08:51:03 +0000 https://www.theinfostride.com/?p=468054 Nigeria’s mounting debt obligations have once again come into sharp focus as the Central Bank of Nigeria (CBN) disclosed that the country spent $2.86 billion on debt service between January and August 2025. The revelation underscores growing concerns about the burden of external debt repayments on the nation’s fragile foreign reserves and overall economic stability. [...]

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]]> https://www.theinfostride.com/cbn-reports-nigerias-debt-servicing-costs-reach-2-86bn-in-eight-months/feed/ 0 FG Deducts States’ N800bn Allocations to Pay Foreign Debt https://www.theinfostride.com/fg-deducts-states-n800bn-allocations-to-pay-foreign-debt/ https://www.theinfostride.com/fg-deducts-states-n800bn-allocations-to-pay-foreign-debt/#respond Wed, 23 Jul 2025 22:50:52 +0000 https://www.theinfostride.com/?p=405830 The Federal Government has deducted N800 billion from state allocations to service Nigeria’s mounting foreign debt, a move that has sparked concerns among state governments over dwindling resources for development projects. The deductions were made from the monthly Federation Account Allocation Committee (FAAC) disbursements, further straining the finances of many states already grappling with revenue [...]

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]]> https://www.theinfostride.com/fg-deducts-states-n800bn-allocations-to-pay-foreign-debt/feed/ 0 Nigeria’s Debt Ratio Declines to 39.4% After Economic Recalculation https://www.theinfostride.com/nigerias-debt-ratio-declines-to-39-4-after-economic-recalculation/ https://www.theinfostride.com/nigerias-debt-ratio-declines-to-39-4-after-economic-recalculation/#respond Wed, 23 Jul 2025 15:42:25 +0000 https://www.theinfostride.com/?p=462788 Nigeria’s public debt-to-GDP ratio has dropped to 39.4% following the recent rebasing of the nation’s Gross Domestic Product (GDP), according to official data from the Debt Management Office (DMO). The revision, which expanded the size of the economy on paper, helped reduce the appearance of the country’s debt burden, even though the total value of [...]

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]]> https://www.theinfostride.com/nigerias-debt-ratio-declines-to-39-4-after-economic-recalculation/feed/ 0 Report warns public debt in Nigeria could reach ₦160 trillion by December https://www.theinfostride.com/report-warns-public-debt-in-nigeria-could-reach-%e2%82%a6160-trillion-by-december/ https://www.theinfostride.com/report-warns-public-debt-in-nigeria-could-reach-%e2%82%a6160-trillion-by-december/#respond Sun, 20 Jul 2025 10:52:50 +0000 https://www.theinfostride.com/?p=462416 Nigeria could see its public debt burden swell to as much as ₦160 trillion by year-end if current borrowing trends continue, according to projections in a recent financial sector report. The warning has triggered concerns among economists, policymakers, and investors about mounting interest costs, fiscal rigidity, and the implications for long‑term economic stability. At present, Nigeria’s [...]

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]]> https://www.theinfostride.com/report-warns-public-debt-in-nigeria-could-reach-%e2%82%a6160-trillion-by-december/feed/ 0 I’m Not Broke Or In Debt – Justin Bieber https://www.theinfostride.com/im-not-broke-or-in-debt-justin-bieber/ https://www.theinfostride.com/im-not-broke-or-in-debt-justin-bieber/#respond Fri, 18 Apr 2025 16:20:58 +0000 https://www.theinfostride.com/?p=408512 Popular Canadian singer, Justin Bieber has come out to blast reports claiming he is broke and in debt. He recently had his say via a press statement released by his team, and fans have been reacting. According to him, the clickbait stupidity is coming from unreliable sources who are disappointed that they no longer work [...]

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]]> https://www.theinfostride.com/im-not-broke-or-in-debt-justin-bieber/feed/ 0 Do Everything You Can To Avoid Borrowing Money – Mr Macaroni https://www.theinfostride.com/do-everything-you-can-to-avoid-borrowing-money-mr-macaroni/ https://www.theinfostride.com/do-everything-you-can-to-avoid-borrowing-money-mr-macaroni/#respond Fri, 21 Mar 2025 10:20:30 +0000 https://www.theinfostride.com/?p=405997 Popular Nollywood actor and skitmaker, Mr Macaroni has come out to say that he incurred more than N500 million in debt after falling into a scam and a failed investment. He recently had his say via a social media page, and fans have been reacting. According to him, his precarious financial situation, which started in [...]

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]]> https://www.theinfostride.com/do-everything-you-can-to-avoid-borrowing-money-mr-macaroni/feed/ 0 Debt Servicing Poses Hurdle to Nigeria’s Socioeconomic Growth, Says IMF https://www.theinfostride.com/debt-servicing-poses-hurdle-to-nigerias-socioeconomic-growth-says-imf/ https://www.theinfostride.com/debt-servicing-poses-hurdle-to-nigerias-socioeconomic-growth-says-imf/#respond Fri, 25 Oct 2024 19:03:48 +0000 https://www.theinfostride.com/?p=391953 The International Monetary Fund (IMF) has expressed concerns over Nigeria’s debt servicing burden, noting its significant impact on the country’s socioeconomic development. In a recent report, the IMF highlighted that Nigeria’s growing debt obligations are diverting funds away from critical development areas such as infrastructure, education, healthcare, and economic diversification. Debt Burden and Fiscal Constraints [...]

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]]> https://www.theinfostride.com/debt-servicing-poses-hurdle-to-nigerias-socioeconomic-growth-says-imf/feed/ 0 FG Decided To Spend On Luxuries Despite Nigeria Being Overburdened With Debts – Oby Ezekwesili https://www.theinfostride.com/fg-decided-to-spend-on-luxuries-despite-nigeria-being-overburdened-with-debts-oby-ezekwesili/ https://www.theinfostride.com/fg-decided-to-spend-on-luxuries-despite-nigeria-being-overburdened-with-debts-oby-ezekwesili/#respond Tue, 20 Aug 2024 20:40:37 +0000 https://www.theinfostride.com/?p=387476 Former Minister of Education, Oby Ezekwesili has come out to slam the Presidency over the recent purchase of a new Presidential jet. She recently had her say via a press a statement released on social media, and Nigerians have been reacting. According to her, she can only ask the government to continue with its obscene [...]

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]]> https://www.theinfostride.com/fg-decided-to-spend-on-luxuries-despite-nigeria-being-overburdened-with-debts-oby-ezekwesili/feed/ 0 FG raises fresh N284bn as T-Bills debt hits N10tn https://www.theinfostride.com/fg-raises-fresh-n284bn-as-t-bills-debt-hits-n10tn/ https://www.theinfostride.com/fg-raises-fresh-n284bn-as-t-bills-debt-hits-n10tn/#respond Fri, 28 Jun 2024 08:21:24 +0000 https://www.theinfostride.com/?p=381755 The Federal Government through the Central Bank of Nigeria has raised a total sum of N284.26bn in the latest Nigerian Treasury Bills auction. This was as its T-Bills debts soared to N10.4tn between December 2023 and March 2024, marking a 60 per cent rise in just three months. According to the auction result by the [...]

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]]> https://www.theinfostride.com/fg-raises-fresh-n284bn-as-t-bills-debt-hits-n10tn/feed/ 0 Nigeria’s public debt rises by N24.33 trillion in three months https://www.theinfostride.com/nigerias-public-debt-rises-by-n24-33-trillion-in-three-months/ https://www.theinfostride.com/nigerias-public-debt-rises-by-n24-33-trillion-in-three-months/#respond Thu, 20 Jun 2024 20:01:46 +0000 https://www.theinfostride.com/?p=380935 The Debt Management Office (DMO) of Nigeria has announced that the nation’s total public debt has increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.   According to a statement from the DMO, this figure encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, [...]

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]]> https://www.theinfostride.com/nigerias-public-debt-rises-by-n24-33-trillion-in-three-months/feed/ 0 Excess crude account: FG earmarks N16.1 billion monthly to settle states’ N1 trillion debts https://www.theinfostride.com/excess-crude-account-fg-earmarks-n16-1-billion-monthly-to-settle-states-n1-trillion-debts/ https://www.theinfostride.com/excess-crude-account-fg-earmarks-n16-1-billion-monthly-to-settle-states-n1-trillion-debts/#respond Sat, 20 Apr 2024 05:17:15 +0000 https://www.theinfostride.com/?p=376095 The Federal Government has set aside N16.1 billion monthly for the settlement of N1 trillion debts owed by state governments. The money, which is in the form of debt swap, will be paid over eight years to resolve the debts incurred by states from bailout facilities. This initiative represents a structured approach to mitigate states’ financial burdens, with [...]

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]]> https://www.theinfostride.com/excess-crude-account-fg-earmarks-n16-1-billion-monthly-to-settle-states-n1-trillion-debts/feed/ 0 Ghana Successfully Concludes $5.4 Billion Debt Restructuring Agreement with Creditors https://www.theinfostride.com/ghana-successfully-concludes-5-4-billion-debt-restructuring-agreement-with-creditors/ https://www.theinfostride.com/ghana-successfully-concludes-5-4-billion-debt-restructuring-agreement-with-creditors/#respond Tue, 16 Jan 2024 11:19:16 +0000 https://www.theinfostride.com/?p=367465 In a significant financial development, Ghana has successfully finalized a debt restructuring deal with its creditors, amounting to $5.4 billion. This achievement reflects the nation’s commitment to managing its financial obligations and maintaining fiscal sustainability. The completion of the $5.4 billion debt restructuring agreement signifies a collaborative effort between Ghana and its creditors to address [...]

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]]> https://www.theinfostride.com/ghana-successfully-concludes-5-4-billion-debt-restructuring-agreement-with-creditors/feed/ 0 11 New Governors Achieve Significant Domestic Debt Reduction, Slashing Over N111 Billion in Three Months https://www.theinfostride.com/11-new-governors-achieve-significant-domestic-debt-reduction-slashing-over-n111-billion-in-three-months/ https://www.theinfostride.com/11-new-governors-achieve-significant-domestic-debt-reduction-slashing-over-n111-billion-in-three-months/#respond Sun, 14 Jan 2024 00:47:52 +0000 https://www.theinfostride.com/?p=367177 In a remarkable display of fiscal management, 11 newly elected governors in Nigeria have collectively achieved a noteworthy reduction in domestic debt, cutting a total of over N111 billion within a span of three months. This achievement underscores the commitment of the governors to financial prudence and effective debt management in their respective states. ### [...]

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]]> https://www.theinfostride.com/11-new-governors-achieve-significant-domestic-debt-reduction-slashing-over-n111-billion-in-three-months/feed/ 0 Fuel Crisis Looms: IPMAN Considers Halting Operations in Anambra as State Government’s N900 Million Debt Sparks Concerns https://www.theinfostride.com/fuel-crisis-looms-ipman-considers-halting-operations-in-anambra-as-state-governments-n900-million-debt-sparks-concerns/ https://www.theinfostride.com/fuel-crisis-looms-ipman-considers-halting-operations-in-anambra-as-state-governments-n900-million-debt-sparks-concerns/#respond Fri, 29 Dec 2023 18:51:02 +0000 https://www.theinfostride.com/?p=365913 Infostride News reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is on the brink of suspending its operations in Anambra State. The reason behind this potential suspension lies in the Anambra State Government’s failure to fulfill its financial obligations, specifically the non-payment of N900 million owed to contractors who supplied Automotive Gas Oil [...]

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]]> https://www.theinfostride.com/fuel-crisis-looms-ipman-considers-halting-operations-in-anambra-as-state-governments-n900-million-debt-sparks-concerns/feed/ 0 Tinubu’s Economic Vision: Nigeria Secures $2.7B World Bank Boost Amidst Escalating Debt Servicing Challenges https://www.theinfostride.com/tinubus-economic-vision-nigeria-secures-2-7b-world-bank-boost-amidst-escalating-debt-servicing-challenges/ https://www.theinfostride.com/tinubus-economic-vision-nigeria-secures-2-7b-world-bank-boost-amidst-escalating-debt-servicing-challenges/#respond Wed, 27 Dec 2023 22:49:14 +0000 https://www.theinfostride.com/?p=365752 Nigeria, under the leadership of President Bola Tinubu, has successfully secured a substantial sum of $2.7 billion in loans from the World Bank, a move that has triggered a mixture of optimism and concern. The loans, allocated for diverse purposes including power, women’s empowerment, girl’s education, and renewable energy, signify a strategic effort to address [...]

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]]> https://www.theinfostride.com/tinubus-economic-vision-nigeria-secures-2-7b-world-bank-boost-amidst-escalating-debt-servicing-challenges/feed/ 0 DMO Report: Nigeria Slashes External Debt by $1.57B, Hits $41.59B Mark in Q3 https://www.theinfostride.com/dmo-report-nigeria-slashes-external-debt-by-1-57b-hits-41-59b-mark-in-q3/ https://www.theinfostride.com/dmo-report-nigeria-slashes-external-debt-by-1-57b-hits-41-59b-mark-in-q3/#respond Thu, 21 Dec 2023 19:43:00 +0000 https://www.theinfostride.com/?p=365146 Infostride News reported that Nigeria’s total external debt stock experienced a noteworthy decline of $1.57 billion in the third quarter of 2023, dropping from $43.16 billion to $41.59 billion as of September 30, 2023. The Debt Management Office (DMO) disclosed this information in its third-quarter public debt report. The reduction in external debt was attributed [...]

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]]> https://www.theinfostride.com/dmo-report-nigeria-slashes-external-debt-by-1-57b-hits-41-59b-mark-in-q3/feed/ 0 Nigeria’s External Debt Payments Skyrocket: 277.64% Surge in Three Months Due to Eurobond and IMF Loan Repayments https://www.theinfostride.com/nigerias-external-debt-payments-skyrocket-277-64-surge-in-three-months-due-to-eurobond-and-imf-loan-repayments/ https://www.theinfostride.com/nigerias-external-debt-payments-skyrocket-277-64-surge-in-three-months-due-to-eurobond-and-imf-loan-repayments/#respond Thu, 21 Dec 2023 19:26:22 +0000 https://www.theinfostride.com/?p=365133 Nigeria witnessed a staggering increase of 277.64% in external debt servicing during the third quarter of 2023, as revealed by the latest data from the Debt Management Office (DMO). The analysis unveils a spike from $368.26 million (N283.17 billion) in Q2 2023 to $1.39 billion (N1.07 trillion) in Q3 2023, reflecting the financial strain on [...]

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]]> https://www.theinfostride.com/nigerias-external-debt-payments-skyrocket-277-64-surge-in-three-months-due-to-eurobond-and-imf-loan-repayments/feed/ 0 Global debt rises to $307 trillion in Q3, 2023 https://www.theinfostride.com/global-debt-rises-to-307-trillion-in-q3-2023/ https://www.theinfostride.com/global-debt-rises-to-307-trillion-in-q3-2023/#respond Sat, 18 Nov 2023 17:32:30 +0000 https://www.theinfostride.com/?p=361030 InfoStride News reported on Thursday that global debt has surged to a historic high of $307.4 trillion in the third quarter of 2023, according to the Institute of International Finance (IIF). This marks a more than 25% increase over the past five years, and the financial services trade group anticipates that global debt will exceed [...]

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]]> https://www.theinfostride.com/global-debt-rises-to-307-trillion-in-q3-2023/feed/ 0 State Debt: Alia naming outrageous figures to rubbish me – Ortom https://www.theinfostride.com/state-debt-alia-naming-outrageous-figures-to-rubbish-me-ortom/ https://www.theinfostride.com/state-debt-alia-naming-outrageous-figures-to-rubbish-me-ortom/#respond Wed, 25 Oct 2023 06:30:11 +0000 https://www.theinfostride.com/?p=358177 Samuel Ortom, who served as governor of Benue State until his replacement, Hyacinth Alia, took office, has stated that his successor is trying to humiliate him by putting ridiculous data into the public arena. Ortom, speaking through his Media Aide, Terver Akase, refuted the claim made by Fidelis Mnyim, the Attorney General and Commissioner for [...]

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]]> https://www.theinfostride.com/state-debt-alia-naming-outrageous-figures-to-rubbish-me-ortom/feed/ 0 Patricia’s Debt-to-Equity Offer Faces Customer Rejection, Sparks Planned Protest https://www.theinfostride.com/patricias-debt-to-equity-offer-faces-customer-rejection-sparks-planned-protest/ https://www.theinfostride.com/patricias-debt-to-equity-offer-faces-customer-rejection-sparks-planned-protest/#respond Tue, 24 Oct 2023 08:05:26 +0000 https://www.theinfostride.com/?p=358071 Efforts by the Nigerian cryptocurrency trading firm, Patricia Technologies, to transform its clientele’s assets into equity stakes within the organization have been met with resistance. Several customers who were contacted by Infostride News revealed that they received an offer letter, signed by Patricia’s founder, Hanu Fejiro. However, they expressed reluctance to endorse the agreement, as [...]

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]]> https://www.theinfostride.com/patricias-debt-to-equity-offer-faces-customer-rejection-sparks-planned-protest/feed/ 0 IMF Views Nigeria’s N87.3 Trillion Debt as Manageable https://www.theinfostride.com/imf-views-nigerias-n87-3-trillion-debt-as-manageable/ https://www.theinfostride.com/imf-views-nigerias-n87-3-trillion-debt-as-manageable/#respond Sat, 14 Oct 2023 21:33:47 +0000 https://www.theinfostride.com/?p=357070 The International Monetary Fund (IMF) has provided an assessment of Nigeria’s total public debt, which stands at N87.3 trillion ($113.4 billion), suggesting that it is manageable and does not pose immediate risks to the country’s economy. This statement was made by Abebe Selassie, the Director of the IMF African Department, during the presentation of the [...]

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]]> https://www.theinfostride.com/imf-views-nigerias-n87-3-trillion-debt-as-manageable/feed/ 0 Fiscal Crisis: Nigeria’s 2022 Debt Service to Revenue Ratio Hits 97%, Fiscal Deficits Soar to N7.5 Trillion https://www.theinfostride.com/fiscal-crisis-nigerias-2022-debt-service-to-revenue-ratio-hits-97-fiscal-deficits-soar-to-n7-5-trillion/ https://www.theinfostride.com/fiscal-crisis-nigerias-2022-debt-service-to-revenue-ratio-hits-97-fiscal-deficits-soar-to-n7-5-trillion/#respond Fri, 13 Oct 2023 07:41:42 +0000 https://www.theinfostride.com/?p=356900 In 2022, the Nigerian Federal Government grappled with a significant fiscal crisis, concluding the year with a staggering fiscal deficit of N7.5 trillion, which amounted to 129% of the actual revenue collected. Initially, the government had set a revenue target of N9 trillion, with a projected deficit of N5.2 trillion. This fiscal conundrum comes to [...]

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]]> https://www.theinfostride.com/fiscal-crisis-nigerias-2022-debt-service-to-revenue-ratio-hits-97-fiscal-deficits-soar-to-n7-5-trillion/feed/ 0 The Deputy Speaker highlights that, at 63, Nigeria must not depend heavily on debt for its survival https://www.theinfostride.com/the-deputy-speaker-emphasizes-that-nigeria-cannot-rely-on-debt-as-its-main-source-of-sustenance-at-the-age-of-63/ https://www.theinfostride.com/the-deputy-speaker-emphasizes-that-nigeria-cannot-rely-on-debt-as-its-main-source-of-sustenance-at-the-age-of-63/#respond Tue, 10 Oct 2023 21:10:52 +0000 https://www.theinfostride.com/?p=356623 Benjamin Kalu, the Deputy Speaker of the House of Representatives, has expressed his apprehension regarding Nigeria’s continued dependence on debt for its budget allocations and economic development. At a stakeholders’ dialogue held in Lagos on Saturday to discuss the implementation of Section 45 of the Fiscal Responsibility Act, Kalu emphasized the necessity for Nigeria to [...]

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]]> https://www.theinfostride.com/the-deputy-speaker-emphasizes-that-nigeria-cannot-rely-on-debt-as-its-main-source-of-sustenance-at-the-age-of-63/feed/ 0 Oxfam warns of potential $220 billion budget cuts in emerging economies due to the debt crisis https://www.theinfostride.com/oxfam-issues-a-caution-about-potential-budget-reductions-of-220-billion-in-emerging-economies-as-a-result-of-the-debt-crisis/ https://www.theinfostride.com/oxfam-issues-a-caution-about-potential-budget-reductions-of-220-billion-in-emerging-economies-as-a-result-of-the-debt-crisis/#respond Tue, 10 Oct 2023 20:46:47 +0000 https://www.theinfostride.com/?p=356613 Oxfam International has issued a report indicating that emerging economies, including some of the world’s most impoverished nations, are on the verge of facing budget cuts exceeding $220 billion over the next five years due to an impending debt crisis that has pushed many countries to the brink of default. This information comes from a [...]

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]]> https://www.theinfostride.com/oxfam-issues-a-caution-about-potential-budget-reductions-of-220-billion-in-emerging-economies-as-a-result-of-the-debt-crisis/feed/ 0 AfDB says Nigeria needs help to tackle debt burden https://www.theinfostride.com/afdb-says-nigeria-needs-help-to-tackle-debt-burden/ https://www.theinfostride.com/afdb-says-nigeria-needs-help-to-tackle-debt-burden/#respond Sat, 24 Sep 2022 19:21:07 +0000 https://www.theinfostride.com/?p=333022 The president of the African Development Bank (AfDB), Akinwumi Adesina, has said Nigeria needs help from international institutions in tackling its debt burden. The statement is coming barely 24 hours after President Muhammadu Buhari called for debt cancellation for developing countries that are facing fiscal and liquidity challenges at the 77th session of the United Nations [...]

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]]> https://www.theinfostride.com/afdb-says-nigeria-needs-help-to-tackle-debt-burden/feed/ 0 DMO says increased revenue generation, others will reduce Nigeria’s need to borrow https://www.theinfostride.com/dmo-says-increased-revenue-generation-others-will-reduce-nigerias-need-to-borrow/ https://www.theinfostride.com/dmo-says-increased-revenue-generation-others-will-reduce-nigerias-need-to-borrow/#respond Fri, 26 Aug 2022 10:03:02 +0000 https://www.theinfostride.com/?p=331287 Nigeria’s Debt Management Office has disclosed that a strong and comparable revenue base will reduce the need for relatively large amounts of new borrowing for the Federal Government. This was stated by the Director-General of the DMO, Mrs Patience Oniha on Wednesday during an interview with the News Agency of Nigeria (NAN). She also stated [...]

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]]> https://www.theinfostride.com/dmo-says-increased-revenue-generation-others-will-reduce-nigerias-need-to-borrow/feed/ 0 Lagos, Ogun, Rivers top states with highest domestic debt stock in Q1 2022 https://www.theinfostride.com/lagos-ogun-rivers-top-states-with-highest-domestic-debt-stock-in-q1-2022/ https://www.theinfostride.com/lagos-ogun-rivers-top-states-with-highest-domestic-debt-stock-in-q1-2022/#respond Thu, 16 Jun 2022 22:43:59 +0000 https://www.theinfostride.com/?p=326680 The domestic debt stock of the 36 states in Nigeria, including the federal capital territory rose to N4.84 trillion in the first quarter of 2022, representing an 8.6% increase compared to N4.46 trillion recorded as of the previous quarter. This is according to information released by the Debt Management Office (DMO). On a year-on-year basis, [...]

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]]> https://www.theinfostride.com/lagos-ogun-rivers-top-states-with-highest-domestic-debt-stock-in-q1-2022/feed/ 0 Nigeria spends 96% of its revenue on debt servicing in 2021, worst on record https://www.theinfostride.com/nigeria-spends-96-of-its-revenue-on-debt-servicing-in-2021-worst-on-record/ https://www.theinfostride.com/nigeria-spends-96-of-its-revenue-on-debt-servicing-in-2021-worst-on-record/#respond Thu, 05 May 2022 13:10:43 +0000 https://www.theinfostride.com/?p=324253 Nigeria’s Federal government incurred a sum of N4.22 trillion on debt servicing in 2021, increasing by 29.3% compared to N3.27 trillion spent in the previous year. On the other hand, revenue for the period only increased marginally by 9.3% to N4.39 trillion. This means that Nigeria spent about 96% of its revenue on servicing debt [...]

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]]> https://www.theinfostride.com/nigeria-spends-96-of-its-revenue-on-debt-servicing-in-2021-worst-on-record/feed/ 0 Lack of proper transparency may hamper debt restructuring, World Bank advises https://www.theinfostride.com/lack-of-proper-transparency-may-hamper-debt-restructuring-world-bank-advises/ https://www.theinfostride.com/lack-of-proper-transparency-may-hamper-debt-restructuring-world-bank-advises/#respond Sun, 21 Nov 2021 20:26:09 +0000 https://www.theinfostride.com/?p=313236 Limited transparency will reduce the debt reconciliation and restructuring of the poorest countries, the World Bank Group President, David Malpass, has advised. He didn’t fail to mention that improving debt transparency required a sound public debt-management legal framework, integrated debt recording and management systems, as well as improvements in global debt monitoring. He added that [...]

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]]> https://www.theinfostride.com/lack-of-proper-transparency-may-hamper-debt-restructuring-world-bank-advises/feed/ 0 Bad bank debtors frustrating loan recovery – CBN Governor blasts https://www.theinfostride.com/bad-bank-debtors-frustrating-loan-recovery-cbn-governor-blasts/ https://www.theinfostride.com/bad-bank-debtors-frustrating-loan-recovery-cbn-governor-blasts/#respond Sun, 17 Oct 2021 21:55:50 +0000 https://www.theinfostride.com/?p=310670 The Governor of the Central Bank of Nigeria, Godwin Emefiele, has disclosed that recalcitrant debtors have taken advantage the lack of prioritization of credit recovery matters by the Nigerian judicial system to frustrate debt recovery efforts of financial institutions in the country. Emefiele established this at a workshop for judicial officers on recent reforms of [...]

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]]> https://www.theinfostride.com/bad-bank-debtors-frustrating-loan-recovery-cbn-governor-blasts/feed/ 0 Nigeria’s debt profile unsustainable https://www.theinfostride.com/nigerias-debt-profile-unsustainable/ https://www.theinfostride.com/nigerias-debt-profile-unsustainable/#respond Sat, 16 Oct 2021 22:17:22 +0000 https://www.theinfostride.com/?p=310574 The Nigeria Employers Consultative Association (NECA) says the nation’s debt profile is worrisome and unsustainable for the economy. Timothy Olawale, NECA director-general, according to Vanguard, said this during the weekend, advising the federal government to adopt the public-private-partnership (PPP) approach to carry out infrastructural developments. Earlier in September, the Debt Management Office (DMO) announced that [...]

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]]> https://www.theinfostride.com/nigerias-debt-profile-unsustainable/feed/ 0 IMF Reveals It’s Position On Financial Stability https://www.theinfostride.com/imf-reveals-its-take-on-financial-stability/ https://www.theinfostride.com/imf-reveals-its-take-on-financial-stability/#respond Sun, 18 Oct 2020 16:30:06 +0000 https://www.theinfostride.com/?p=271728 The International Monetary Fund have revealed that financial stability risk around the globe have been contained by massive monetary and fiscal support. The timely policy response has helped avert financial break down and maintenaned the flow of money in the economy. Despite this the rate of poverty is rising. Poverty rate have increased in businesses [...]

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]]> https://www.theinfostride.com/imf-reveals-its-take-on-financial-stability/feed/ 0 Nigerians Should Beg The National Asembly To Save The Nation From Debt – Obasanjo https://www.theinfostride.com/nigerians-should-beg-the-national-asembly-to-save-the-nation-from-debt-obasanjo/ Sat, 28 Dec 2019 22:08:53 +0000 https://www.theinfostride.com/?p=243980 Ex Nigerian President, Olusegun Obasanjo has come out to say that Nigeria risks bankruptcy under the present administration of Muhammadu Buhari. OBJ revealed this as he spoke in Lagos at the first edition of the Nigerian Story organized by the ‘Why I Am Alive’ campaign. His words, “As at 2015, total external debt was about [...]

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]]> Nigeria’s N25.7 Trillion Debt Is Not Something To Be Bothered About – Zainab Ahmed https://www.theinfostride.com/nigerias-n25-7-trillion-debt-is-not-something-to-be-bothered-about-zainab-ahmed/ Thu, 24 Oct 2019 21:28:38 +0000 https://www.theinfostride.com/?p=239127 Minister of Finance, Budget and National Planning, Zainab Ahmed, has come out to say that Nigeria’s N25.7 trillion debt is not anything to worry about. Mrs. Zainab said there is nothing to be bothered about because, despite the international and domestic debt stock, the country is not in a debt crisis. According to her, Nigeria’s [...]

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]]> I Support Debt For Productivity In Nigeria – Fashola https://www.theinfostride.com/i-support-debt-for-productivity-in-nigeria-fashola/ Sat, 21 Sep 2019 01:19:41 +0000 https://www.theinfostride.com/?p=237664 Minister of Works and Housing, Mr Babatunde Fashola has said that the current government is committed to human capital, economic and infrastructure developments to enhance the country’s global competitiveness. Fashola disclosed this in a statement as he delivered a keynote address on “How Government Policy Affects Business, Society in National Development and Changing International Environment” [...]

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]]> Nigeria’s Debt-To-GDP Ratio Is Very Risky – IMF https://www.theinfostride.com/nigerias-debt-to-gdp-ratio-is-very-risky-imf/ Thu, 11 Apr 2019 02:10:35 +0000 https://www.theinfostride.com/?p=230828 The International Monetary Fund has revealed that Nigeria’s Debt-to-GDP ratio is decent but very risky and cannot be guaranteed as the days go by. Debt-GDP ratio compares the size of a country’s debt to its economy with a view to determining the sustainability of the debt profile as well as the vulnerability of the economy [...]

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]]> Our Debt Is 60 Per Cent Of Our Budget – Peter Obi https://www.theinfostride.com/our-debt-is-60-per-cent-of-our-budget-peter-obi/ Tue, 05 Feb 2019 06:04:34 +0000 https://www.theinfostride.com/?p=226516 Vice Presidential candidate, Mr. Peter Obi recently visited several markets in Lagos to seek support for the Alhaji Atiku Abubakar, whom he hailed as having the essential credentials to tackle the nation’s economic state if voted in Feb. Obi also blasted the ruling All Progressives Congress (APC)-led Federal Government over the Nigeria’s increasing debt profile [...]

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]]> Kayode Fayemi Has Paid Fayose’s Debt To Workers – Bisi Egbeyemi https://www.theinfostride.com/kayode-fayemi-has-paid-fayoses-debt-to-workers-bisi-egbeyemi/ Mon, 07 Jan 2019 20:57:03 +0000 https://www.theinfostride.com/?p=224937 The Ekiti State Deputy Governor, Mr Bisi Egbeyemi, has said the state government had paid the one month salary owed by the past Ayo Fayose administration to civil servants. Egbeyemi mentioned that Fayemi had vowed to imporve the lives of Ekiti people and ensure that every indigene felt the positive impact of his government. She [...]

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