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Data from the Debt Management Office has shown that the FG and the 36 states, including the Federal Capital Territory, owed a total of ₦27.4 trillion as of December 2019. This indicates an increase in the country’s public debt portfolio from September 2019, when it was reported that it owed a total of ₦26.22 trillion. The ₦27.4 trillion included the total external and domestic debt portfolios of the Federal Government and the states. The breakdown of the data showed that domestic debt amounting to ₦18.3 trillion accounted for 67.07 percent of the total debt stock, of which the FG’s share of domestic debt portfolio was ₦14.2 trillion, or 52.09 percent, while the states and FCT owed ₦4.1 trillion or 14.99 percent. Nigeria’s total external debt was ₦9.02 trillion, of which the DMO said, the FG owes ₦7.5 trillion, or 27.50 percent, while the states and the FCT owe ₦1.4 trillion, about 5.43 percent of the total debt portfolio. According to the debt office, the CBN official exchange rate of US$1 to ₦326 as of 31 December 2019 was used in converting the domestic debts to dollars. Nigeria’s Department of Petroleum Resources has ordered oil and gas companies on Thursday to ...
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Nigerian authorities have been in touch with around 100 people ...
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Dangote Cement said on Wednesday it planned to start exports ...
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Data from the Nigerian National Petroleum Corporation has shown that ...
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Nigeria has selected a consortium including Egypt Air to set ...
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Nigeria’s economic growth rose to an annual rate of 2.55% ...
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Data from the National Pension Commission shows that the Pension ...
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The Nigeria Customs Service, in Kano and Jigawa states, has ...
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The World Bank has approved about $2.2 billion (₦700 billion) ...
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Nigeria’s state oil company and its joint venture partners have ...
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Data from the Advisory Power Team in the Office of ...
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Data from Malaysian Palm Oil Council has shown that the ...
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The Supreme Court on Thursday nullified the election of Bayelsa ...
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Nigeria is considering a Eurobond sale of between $2.8 billion ...
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One of South Africa's top trade negotiators has emerged as ...
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West African countries have agreed to conduct an investigation into ...
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The Nigeria Centre for Disease Control said it is investigating ...
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There are indications that network subscribers in Nigeria may no ...
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Nigeria expects its mining sector to account for 3% of ...
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The federal government has introduced a multiple-entry, multi-year visa for ...
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A Nigerian airline has launched daily flights between the capital, ...
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The International Finance Corporation has announced the downgrade of Nigeria ...
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The Debt Management Office said Nigeria’s debt to the World ...
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Spot demand was slim owing to the Chinese New Year ...
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Nigeria had no warning from Washington that it could be ...
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