Debt Profile
CISLAC raises concerns over Nigeria’s debt profile, coronavirus accountability
The Civil Society Legislative Advocacy Centre (CISLAC), has expressed concerns over $2.18 billion foreign loan request to the Nigerian Senate to fund the 2021 Appropriations Act, by President Muhammadu Buhari. It has therefore urged the National Assembly to insist on an analysis of debt repayment strategy to be in place as its key priority to approvals. In a statement by Executive Director, CISLAC and Head of Transparency International – Nigeria, Auwal Ibrahim Musa Rafsanjani, he said national public finance management regime is meant to save the nation’s economic system from collapse: rescuing jobs, supporting livelihoods and bailing out many businesses on the brink. He warned the government to avoid the catastrophe that the international finance institutions forced on Greece: destroying ...
NBS: Nigerian government, states’ debt profile rise to N32.92 trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (...
