nigerias debt

Former Nigerian President Olusegun Obasanjo has cautioned that the colossal debt burden of African countries will cast a long shadow on the next generation. During an engagement with the 2023 awardees of the Future Africa Leaders Foundation, Obasanjo expressed deep concern over the continent's...

In a significant move, President Bola Tinubu has requested the National Assembly's approval to proceed with a substantial loan facility, seeking a total of $7,864,508,559 and €100 million. This request, originally initiated during the administration of former President Muhammadu Buhari under the...

The Federal Government of Nigeria has emphasized the crucial role non-state actors (NSAs) must play in national and economic development, acknowledging its own challenges, including a significant revenue deficit that has impacted its ability to pay salaries. Senator Abubakar Atiku Bagudu, the...

The Federal Government of Nigeria is seeking an additional $400 million loan from the World Bank for conditional cash transfers to 15 million households. This move is part of an effort to alleviate the impact of removing petrol subsidies, which has led to a significant rise in living costs for...

As Nigeria approaches its 63rd Independence Anniversary, the Federal Government has entered into discussions with the World Bank regarding a potential $1.5 billion loan. The loan, known as 'Nigeria Human Capital for Opportunities and Empowerment' (HOPE), aims to strengthen systems for improved...

Nigeria's public debt has reached new heights, with each citizen now carrying a substantial debt burden of approximately N396,376.19, according to recent data from the National Bureau of Statistics (NBS). The figures, released by the NBS, underscore the alarming rise in the country's public...