Economy
Nigeria’s total debt rose to N46trn in 2022 – DMO
Nigeria’s total public debt rose to N46.25 trillion in 2022, from 39.56 trillion naira a year earlier, as the government ramped up borrowing to fund its budget deficit, the Debt Management Office (DMO) said on Thursday. Nigeria’s debt-to-GDP ratio stood at 23.2% in 2022, compared with 22.47%, within the country’s self-imposed limit of 40%, the DMO said. Nigeria’s total public debt could rise to N77 trillion this year, the head of the DMO, Patience Oniha, said in January, if parliament grants approval for a central bank temporary advance to government to be swapped to bonds coupled with new borrowings to fund the 2023 budget.
-
News1 day agoCardoso formally receives Central Bank of the Year Award
-
Economy1 day agoNigeria’s Digital Boom needs nuclear power partnerships for long-term success
-
Uncategorized1 day ago
June 12 Democracy Day declaration not enough, as citizens wallow in pain – ActionAid, FG declares Friday public holiday
-
Finance3 hours agoElon Musk becomes world’s first trillionaire as SpaceX shares soar on stock market debut
-
Stock Market2 hours agoFG to raise N4trn bond to settle electricity debt
-
Oil and Gas1 day agoNNPC is house of thieves, fraud; Kyari must be arrested dead or alive to account for N210 trillion—Oshiomhole
-
Oil and Gas1 day agoDangote Refinery seeks $1bn private placement ahead of planned listing
-
News1 day agoMiddle East Conflict sends global growth to lowest rate since COVID-19, WBG to Provide up to $100bn for Affected countries over 15 Months—WBG