Nigeria’s Public debt

The Federal Government’s expenditure report for the first eight months of 2024 highlights the significant impact of debt servicing on Nigeria’s finances. Between January and August, ₦7.41tn was spent on debt servicing, surpassing the pro-rata budget of ₦5.51tn by 34.4%. This amount represents 89.6% of the ₦8.27tn budgeted for debt servicing this year, with the…

Nigeria’s public debt profile under President Bola Ahmed Tinubu has increased to N134.3 trillion at the end of June 2024 amid an infrastructural deficit in the country. This is according to a document from the Ministry of Finance, Nairametrics reports. The figure is a 10.35 percent increase from the N121.7 trillion recorded in the first…