Debt Servicing

The World Bank says developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022. In a statement published on its website, the Bank said the increase in costs shifted scarce…

President Bola Tinubu on Tuesday in Abuja expressed his resolute commitment to break the vicious cycle of over reliance on borrowing for public spending and the resulting burden of debt servicing it places on the management of Nigeria’s…

The Federal Government in Nigeria spent 85.37 percent of its revenue servicing debt in February, a report by the Central Bank of Nigeria has revealed. In its monthly economic report for February 2023, the apex bank noted that the Federal…

Nigeria’s debt servicing bill went up by 14.68 percent to N3.36trn in 2022, data from the Debt Management Office has shown. According to DMO, N2.93tn was spent on external and domestic debt servicing payments in 2021. Earlier, the DMO…