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NIGERIA held a $2.35 billion Eurobond sale on Wednesday to raise funds to meet several needs. But it was oversubscribed and attracted a record $13 billion orders mostly from international investors who wanted to participate in the market. This means that the nation wanted $2.35 billion from investors but received buy orders to the tune […]
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PRESIDENT Bola Tinubu claimed on Tuesday in Abuja that Nigeria had met its revenue target for 2025 ahead of schedule and was no longer borrowing from local sources. Addressing stakeholders of the Buhari Organisation who visited him at the Presidential Villa in Abuja, President Tinubu boasted: “Today I can stand here before you to brag: […]
NIGERIA now owes domestic and foreign lenders more than half its gross domestic product (GDP), according to data released on Monday by the Debt Management Office (DMO), an agency of the Nigerian government. Nigeria’s debt-to-GDP ratio stood at 52.3 percent as of the end of 2024 as against 41 percent by the end of 2013, […]
NIGERIA may be getting several things wrong but it is resilient when it comes to taking debt and repaying it, especially at rates that can be considered prohibitive. In the first quarter (Q1) of 2025, Africa’s most populous nation, repaid $759.577 million borrowed from international lenders, including the African Development Bank (AfDB), Exim Bank of […]
KADUNA State borrowed $343 million and N37.43 billion in 8 years of former Governor Nasir El-Rufai stewardship, Economy Post has found. On March 30 2023, current Governor Uba Sani said he inherited a huge debt from his predecessor on May 29, 2023. According to Mr Sani, his administration inherited a total of $587 million, N85 […]