Nigeria’s debt to the World Bank’s International Development Association (IDA) rose to $17.1 billion as of September 30, 2024. According to the World Bank’s financial statements for the fiscal year ending September 2024, this marks a $600 million increase from the $16.5 billion recorded in June 2024. With this figure, Nigeria remains the third-largest debtor … Read more
Nigeria’s debt position has been a source of concern for development experts in recent years, especially in the midst of dwindling oil revenue A former governor of the Central Bank of Nigeria (CBN) , Sanusi Lamido, has said that Nigeria’s external debt to total revenue increased from 8 per cent in 2011 to 400 per … Read more
The federal government has replied a senior advocate of Nigeria, Femi Falana, over assertion that Nigeria external debts stands at $76 billion. The Debt Management Office (DMO) says Nigeria’s outstanding external debt is $27.6 billion. In a freedom of information (FoI) request dated August 3, 2020, Falana & Falana Chambers, the law firm of Femi … Read more