Debts – InfoStride News

Government Claims North West Nigeria’s Debt Shrunk by 42% After Reforms

Temitope Nlewemchi — Tue, 26 May 2026 12:35:27 +0000

The Federal Government has announced that economic reforms and debt restructuring efforts have led to a 42 percent reduction in the debt stock of Nigeria’s North West region, marking a significant milestone in the drive to restore fiscal stability and enhance public service delivery. According to federal officials, the debt reduction comes on the back [...]

Source from InfoStride News

Presidential panel reveals Nigeria now spends half of its revenue on debt servicing

Temitope Nlewemchi — Tue, 22 Jul 2025 15:51:10 +0000

Nigeria is currently channeling approximately 50 percent of its national revenue into debt servicing, according to a recent report by a government-appointed presidential advisory panel. The revelation has raised serious concerns about the country’s fiscal sustainability and the implications for development funding and public services. The panel, composed of fiscal policy experts and senior economic [...]

Source from InfoStride News

Federal Government Targets 77% Increase in IGR in 2024, Aims to Avoid Expensive Debts

Temitope Nlewemchi — Wed, 24 Jan 2024 20:39:20 +0000

The Federal Government has set ambitious goals for the year 2024, targeting a substantial 77% rise in Internally Generated Revenue (IGR). This strategic initiative is part of the government’s effort to strengthen its fiscal position and reduce reliance on expensive debts to fund budgetary requirements. The emphasis on increasing IGR underscores the importance of diversifying [...]

Source from InfoStride News

Stop interest, loan collections – FCCPC says

Temitope Nlewemchi — Thu, 17 Mar 2022 14:21:22 +0000

The Federal Competition and Consumer Protection Commission (FCCPC) has as part of its wide-ranging orders against unlicensed and illegal online money lending banks, has instructed them to stop compounding interest and loan collection practices that are presently undergoing investigations. This is as Nigerians have reacted to its ongoing enforcement exercise across the country against these [...]

Source from InfoStride News

Lekki Toll Gate to reopen– Commissioner

Temitope Nlewemchi — Thu, 17 Mar 2022 14:15:58 +0000

The Lagos State Government has disclosed that the Lekki Concession Company’s plan to return to official tolling after the Lekki Shooting incident is irreversible, stating that the company owes local and foreign investors, and needs to fulfil its debt obligations. This was made known by Gbenga Omotosho, Lagos State Commissioner for information, in an interview with [...]

Source from InfoStride News

FG owes CBN N15.51tn, borrows N14.86tn under Buhari

Temitope Nlewemchi — Wed, 18 Aug 2021 20:04:34 +0000

The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has ballooned to N15.51tn, rising by 2,286 per cent in six years, data collated from the CBN have shown. The N15.51tn owed by the Federal Government to the central bank is not part of the country’s total public debt [...]

Source from InfoStride News

Some Public Debts Have Not Been Recovered — Zainab Ahmed

David Folami — Sat, 19 Oct 2019 11:49:10 +0000

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said there are debts owed by states and government enterprises that are yet to be recovered. Mrs. Zainab Ahmed revealed this during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings in Washington, United States. This is coming after [...]

Source from InfoStride News

We Do Not Intend To Plunge My State Into Unnecessary Debts – Wike

David Folami — Sun, 14 Jan 2018 11:07:20 +0000

Rivers State Governor Nyesom Wike[/caption]Governor Nyesom Wike has said that the state’s 2017 Budget recorded 74 per cent performance, representing significant improvement on that of 2016. Wike said that aggregate revenue receipts as at December 31, 2017 stood at N278.2 billion, representing only 69 per cent of total projected revenue. “This left us with a [...]

Source from InfoStride News

FEC Approves IOUs To Clear N740.75B Local Debts – Kemi Adeosun

David Folami — Wed, 12 Jul 2017 20:42:14 +0000

The Federal Executive Council (FEC) on Wednesday approved the issuance of promissory notes for the settlement of debts owed local contractors worth N740 billion. The Minister of Finance, Mrs Kemi Adeosun, gave the hint at a briefing after the FEC meeting adding that debts to GENCOS, DISCOS and state government was N193.69billion. “The Memorandum that [...]

Source from InfoStride News

Michael Jackson’s Kids Facing Loss Of 900m Inheritance Over Debts

David Folami — Fri, 25 Mar 2016 12:52:28 +0000

News reports have revealed that Micheal Jackson’s children may stand to lose their $900million inheritance over their music legend father’s outstanding debts and tax returns. Mirror UK reports that the late king of pop’s children, Prince Jackson, 19, Paris Jackson, 17, and Blanket Jackson, 14, had been due to inherit £900 million upon hitting age [...]

Source from InfoStride News