An analysis of data released by the Debt Management Office, reviewed by SaharaReporters, reveals that President Bola Tinubu’s administration spent N3.5 trillion on debt servicing between July and September 2024. The data also indicates that $1.338 billion was allocated to external debt servicing during the same period. The government, in the DMO data announcing the…
The Kogi State under former governor, Yahaya Bello, spent the sum of N17,662,200,367.88 to service debts in 2023. This was according to an assessment of the State Budget Performance for the fourth quarter of 2023, which revealed that despite large public funds spent on debt repayment, the state only generated N23,658,077,029.33 in income during…
In total, the President Bola Tinubu-led Nigerian government plans an expenditure of N50.2trillion on debt servicing between the period. Nigeria is set to spend an alarming N50trillion on debt servicing between 2025 and 2027, a review of the Medium Term Expenditure Framework (MTEF) of the country has shown. According to the document, in 2025,…
This development is even as the state spent N20.5billion on public debt charges in the same period of time. A SaharaReporters’ review of the Oyo State budget performance document has shown that the state borrowed N62 billion in the first nine months of 2024. This development is even as the state spent N20.5billion on…
The burgeoning debt servicing obligations have continued to worsen Nigeria’s economic woes as the country spent a whopping N8.56 trillion, or 43.9 percent of the budget, to service its debt in 2023. The country also incurred a fiscal deficit of N13.50 trillion, or 225 percent, from spending N19.50 trillion, three times more than its total…
