Public Debt Archives - Nairametrics https://nairametrics.com/category/economy/public-debt/ Destination for Business news and analysis from Africa's largest economy Thu, 13 Jun 2024 22:20:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Public Debt Archives - Nairametrics https://nairametrics.com/category/economy/public-debt/ 32 32 201037849 Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms  https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/ https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/#comments Thu, 13 Jun 2024 21:50:41 +0000 https://nairametrics.com/?p=491220 The World Bank has announced the approval of two significant financial operations aimed at bolstering Nigeria's economic stability and supporting its vulnerable populations.  

The post Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/feed/ 1 491220 Nigeria seeks $500 million loan from World Bank for “rural roads”  https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/ https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/#comments Thu, 13 Jun 2024 08:30:05 +0000 https://nairametrics.com/?p=491167 The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank aimed at the development of rural roads and agricultural marketing. 

The post Nigeria seeks $500 million loan from World Bank for “rural roads”  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/feed/ 2 491167 Nigeria’s foreign debt service costs surge by 96% to $2.19 billion by May 2024  https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/ https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/#respond Tue, 11 Jun 2024 09:38:24 +0000 https://nairametrics.com/?p=491055 Nigeria has seen a significant surge in its foreign debt servicing costs, with an increase of 96% year-on-year, according to the latest data released by the Central Bank of Nigeria (CBN). 

The post Nigeria’s foreign debt service costs surge by 96% to $2.19 billion by May 2024  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/feed/ 0 491055 States urge FG to halt foreign loan-backed grants, subsidies for rural electrification in Nigeria https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/ https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/#comments Mon, 10 Jun 2024 11:59:20 +0000 https://nairametrics.com/?p=490984 State governments have raised concerns over the Federal Government's use of foreign loans to fund grants and subsidies for private investors involved in rural electrification programs.

The post States urge FG to halt foreign loan-backed grants, subsidies for rural electrification in Nigeria appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/feed/ 1 490984 Nigeria incurs N2.6 trillion on fuel imports in first quarter of 2024 up 46%  https://nairametrics.com/2024/06/09/nigeria-incurs-n2-6-trillion-on-fuel-imports-in-first-quarter-of-2024-up-46/ https://nairametrics.com/2024/06/09/nigeria-incurs-n2-6-trillion-on-fuel-imports-in-first-quarter-of-2024-up-46/#respond Sun, 09 Jun 2024 08:35:43 +0000 https://nairametrics.com/?p=490914 Nigeria’s expenditure on motor spirit (also known as fuel) soared to N2.6 trillion in the first quarter of 2024, representing a 46% increase from the fourth quarter of 2023. 

The post Nigeria incurs N2.6 trillion on fuel imports in first quarter of 2024 up 46%  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/09/nigeria-incurs-n2-6-trillion-on-fuel-imports-in-first-quarter-of-2024-up-46/feed/ 0 490914 World Bank mandates hiring security consultant for $1.2 billion loan project in Nigeria  https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/ https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/#respond Fri, 07 Jun 2024 12:10:59 +0000 https://nairametrics.com/?p=490820 The World Bank has mandated the hiring of a security consultant to address pervasive insecurity issues affecting its $1.2 billion loan project in Nigeria. 

The post World Bank mandates hiring security consultant for $1.2 billion loan project in Nigeria  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/feed/ 0 490820 Afrexim Bank disburses another $925 million under NNPC $3.3 billion loan https://nairametrics.com/2024/06/06/afrexim-bank-disburses-another-925-million-under-nnpc-3-3-billion-loan/ https://nairametrics.com/2024/06/06/afrexim-bank-disburses-another-925-million-under-nnpc-3-3-billion-loan/#respond Thu, 06 Jun 2024 18:20:46 +0000 https://nairametrics.com/?p=490778 Afrexim bank have announced the disbursement of $925 million- another tranche of the $3.3 billion crude oil backed loan agreement it entered into with the NNPC last year.

The post Afrexim Bank disburses another $925 million under NNPC $3.3 billion loan appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/06/afrexim-bank-disburses-another-925-million-under-nnpc-3-3-billion-loan/feed/ 0 490778 FG plans to pay N1.7 trillion electricity debt through bonds, promissory notes https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/ https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/#respond Thu, 06 Jun 2024 08:17:27 +0000 https://nairametrics.com/?p=490727 The Federal Government of Nigeria plans to settle about N1.7 trillion electricity debt through the issuance of bonds and promissory notes.

The post FG plans to pay N1.7 trillion electricity debt through bonds, promissory notes appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/feed/ 0 490727 Fitch: Foreign investments depend on FX reforms not higher oil production in Nigeria https://nairametrics.com/2024/06/04/fitch-foreign-investments-depend-on-fx-reforms-not-higher-oil-production-in-nigeria/ https://nairametrics.com/2024/06/04/fitch-foreign-investments-depend-on-fx-reforms-not-higher-oil-production-in-nigeria/#respond Tue, 04 Jun 2024 17:09:51 +0000 https://nairametrics.com/?p=490609 Fitch Ratings has stated that the ongoing foreign exchange (FX) reforms are necessary to boost foreign direct investment (FDI) and foreign portfolio investment (FPI).

The post Fitch: Foreign investments depend on FX reforms not higher oil production in Nigeria appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/04/fitch-foreign-investments-depend-on-fx-reforms-not-higher-oil-production-in-nigeria/feed/ 0 490609 Ghana gets World Bank’s approval for $250 million loan as Nigeria expects $2.25 billion this month  https://nairametrics.com/2024/06/03/ghana-gets-world-banks-approval-for-250-million-loan-as-nigeria-expects-2-25-billion-this-month/ https://nairametrics.com/2024/06/03/ghana-gets-world-banks-approval-for-250-million-loan-as-nigeria-expects-2-25-billion-this-month/#respond Mon, 03 Jun 2024 10:15:49 +0000 https://nairametrics.com/?p=490514 The World Bank has approved a $250 million International Development Association (IDA) credit for Ghana's Financial Stability Project. 

The post Ghana gets World Bank’s approval for $250 million loan as Nigeria expects $2.25 billion this month  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/03/ghana-gets-world-banks-approval-for-250-million-loan-as-nigeria-expects-2-25-billion-this-month/feed/ 0 490514 FG has paid back N7.3 trillion of ways and means outstanding so far — Wale Edun https://nairametrics.com/2024/06/02/fg-has-paid-back-n7-3-trillion-of-ways-and-means-outstanding-so-far-wale-edun/ https://nairametrics.com/2024/06/02/fg-has-paid-back-n7-3-trillion-of-ways-and-means-outstanding-so-far-wale-edun/#respond Sun, 02 Jun 2024 21:12:11 +0000 https://nairametrics.com/?p=490475 The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the federal government has settled a swooping N7.3 trillion in ways and means advances to the Central Bank.

The post FG has paid back N7.3 trillion of ways and means outstanding so far — Wale Edun appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/02/fg-has-paid-back-n7-3-trillion-of-ways-and-means-outstanding-so-far-wale-edun/feed/ 0 490475 Where are the billions? Analysing AfDB’s pledges to Nigeria over the past year https://nairametrics.com/2024/06/01/where-are-the-billions-analysing-afdbs-pledges-to-nigeria-over-the-past-year/ https://nairametrics.com/2024/06/01/where-are-the-billions-analysing-afdbs-pledges-to-nigeria-over-the-past-year/#respond Sat, 01 Jun 2024 05:54:11 +0000 https://nairametrics.com/?p=490398 When it comes to Nigeria’s multilateral creditors, the African Development Bank (AfDB) stands out as one of the country's largest and most reliable sources of credit. 

The post Where are the billions? Analysing AfDB’s pledges to Nigeria over the past year appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/01/where-are-the-billions-analysing-afdbs-pledges-to-nigeria-over-the-past-year/feed/ 0 490398 FG writes World Bank to extend deadline for $376 million crisis recovery project for North-East Nigeria  https://nairametrics.com/2024/05/31/fg-writes-world-bank-to-extend-deadline-for-376-million-crisis-recovery-project-for-north-east-nigeria/ https://nairametrics.com/2024/05/31/fg-writes-world-bank-to-extend-deadline-for-376-million-crisis-recovery-project-for-north-east-nigeria/#respond Fri, 31 May 2024 14:34:59 +0000 https://nairametrics.com/?p=490381 The Federal Government of Nigeria has officially requested an extension from the World Bank for the Multi-Sectoral Crisis Recovery Project (MCRP) aimed at rehabilitating the conflict-affected regions of North-East Nigeria. 

The post FG writes World Bank to extend deadline for $376 million crisis recovery project for North-East Nigeria  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/31/fg-writes-world-bank-to-extend-deadline-for-376-million-crisis-recovery-project-for-north-east-nigeria/feed/ 0 490381 FG secures World Bank’s $500 million loan for electricity sector  https://nairametrics.com/2024/05/31/fg-secures-world-banks-500-million-loan-for-electricity-sector/ https://nairametrics.com/2024/05/31/fg-secures-world-banks-500-million-loan-for-electricity-sector/#respond Fri, 31 May 2024 06:00:43 +0000 https://nairametrics.com/?p=490317 The federal government has secured a $500 million World Bank loan to enhance power distribution in the electricity sector, following last month's tariff increase for top consumers across the country. 

The post FG secures World Bank’s $500 million loan for electricity sector  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/31/fg-secures-world-banks-500-million-loan-for-electricity-sector/feed/ 0 490317 NDIC to pay depositors of 96 failed micro finance banks from debt recoveries, others https://nairametrics.com/2024/05/20/ndic-to-pay-depositors-of-96-failed-micro-finance-banks-from-debt-recoveries-others/ https://nairametrics.com/2024/05/20/ndic-to-pay-depositors-of-96-failed-micro-finance-banks-from-debt-recoveries-others/#respond Mon, 20 May 2024 15:19:33 +0000 https://nairametrics.com/?p=489458 The Nigeria Deposit Insurance Corporation(NDIC) has said it will pay depositors of closed microfinance and primary mortgage banks after recovering debts from those owing the failed banks, among others.

The post NDIC to pay depositors of 96 failed micro finance banks from debt recoveries, others appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/20/ndic-to-pay-depositors-of-96-failed-micro-finance-banks-from-debt-recoveries-others/feed/ 0 489458 FG raises N4.5 trillion out of N6 trillion domestic borrowing target in 2024 – DMO https://nairametrics.com/2024/05/20/fg-raises-n4-5-trillion-out-of-n6-trillion-domestic-borrowing-target-in-2024-dmo/ https://nairametrics.com/2024/05/20/fg-raises-n4-5-trillion-out-of-n6-trillion-domestic-borrowing-target-in-2024-dmo/#respond Mon, 20 May 2024 15:17:05 +0000 https://nairametrics.com/?p=489459 The Director General of Debt Management Office, (DMO) Patience Oniha has stated that the federal government has raised N4.5 trillion out of the N6 trillion target in the 2024 budget.  

The post FG raises N4.5 trillion out of N6 trillion domestic borrowing target in 2024 – DMO appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/20/fg-raises-n4-5-trillion-out-of-n6-trillion-domestic-borrowing-target-in-2024-dmo/feed/ 0 489459 FAAC: FG, states, LGs share N1.208 trillion from April revenue  https://nairametrics.com/2024/05/17/faac-fg-states-lgs-share-n1-208-trillion-from-april-revenue/ https://nairametrics.com/2024/05/17/faac-fg-states-lgs-share-n1-208-trillion-from-april-revenue/#respond Fri, 17 May 2024 05:58:37 +0000 https://nairametrics.com/?p=489198 The Federation Account Allocation Committee (FAAC) has announced the distribution of N1.208 trillion to various levels of government in May 2024 from various revenue sources, including statutory allocations, value-added tax (VAT), and electronic money transfer levies (EMTL). 

The post FAAC: FG, states, LGs share N1.208 trillion from April revenue  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/17/faac-fg-states-lgs-share-n1-208-trillion-from-april-revenue/feed/ 0 489198 World Bank says Africa’s public debt to drop in 2024  https://nairametrics.com/2024/05/16/world-bank-says-africas-public-debt-to-drop-in-2024/ https://nairametrics.com/2024/05/16/world-bank-says-africas-public-debt-to-drop-in-2024/#respond Thu, 16 May 2024 12:20:31 +0000 https://nairametrics.com/?p=489130 The World Bank Group has predicted a positive trend for African countries, noting that their public debt will drop in 2024.

The post World Bank says Africa’s public debt to drop in 2024  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/16/world-bank-says-africas-public-debt-to-drop-in-2024/feed/ 0 489130 World Bank may approve $2.25 billion loans to Nigeria on June 13, 2024 https://nairametrics.com/2024/05/11/world-bank-may-approve-2-25-billion-loans-to-nigeria-on-june-13-2024/ https://nairametrics.com/2024/05/11/world-bank-may-approve-2-25-billion-loans-to-nigeria-on-june-13-2024/#respond Sat, 11 May 2024 16:39:48 +0000 https://nairametrics.com/?p=488632 The World Bank may approve loans to Nigeria totaling $2.25 billion across two major projects on June 13, 2024.

The post World Bank may approve $2.25 billion loans to Nigeria on June 13, 2024 appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/11/world-bank-may-approve-2-25-billion-loans-to-nigeria-on-june-13-2024/feed/ 0 488632 FG’s plan to issue domestic dollar bond may pressure naira – IMF https://nairametrics.com/2024/05/11/fgs-plan-to-issue-domestic-dollar-bond-may-pressure-naira-imf/ https://nairametrics.com/2024/05/11/fgs-plan-to-issue-domestic-dollar-bond-may-pressure-naira-imf/#comments Sat, 11 May 2024 13:57:09 +0000 https://nairametrics.com/?p=488622 The International Monetary Fund (IMF) has expressed concerns over the Nigerian government's strategy to issue domestic dollar-denominated bonds, according to the recently published IMF staff country report for Nigeria.

The post FG’s plan to issue domestic dollar bond may pressure naira – IMF appeared first on Nairametrics.

]]> https://nairametrics.com/2024/05/11/fgs-plan-to-issue-domestic-dollar-bond-may-pressure-naira-imf/feed/ 1 488622