Tag: Debt profile

FG’s debt balloons, as ₦6.17tr added to liabilities in 6 months

Aminu Imam
FG’s debt balloons

The Federal Government has borrowed a staggering ₦6.17 trillion from domestic lenders in the first half of 2025, underscoring its growing reliance on local funding to bridge persistent budget deficits and sustain public spending. According to data from the Debt Management Office (DMO), the government raised ₦4.48 trillion in the first quarter and another ₦1.7 trillion in the second quarter — a 2.26% increase bringing total domestic debt to ₦76.59 trillion as of June 30, 2025. With oil production still below 1.8 million barrels per day and non-oil revenues underperforming,…

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CISLAC seeks debt cancellation, reforms at IMF, W’Bank

Aminu Imam
CISLAC seeks

Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC) and Head of Transparency International Nigeria, Auwal Ibrahim Musa Rafsanjani, has raised a red flag over Africa’s deepening fiscal crisis, calling for urgent reforms in global financial governance and African debt management. Speaking at the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., Rafsanjani described Nigeria’s debt trajectory as unsustainable and reckless, with most of the country’s borrowings being used for recurrent expenditure rather than productive investments. ‘Most of the loans we…

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Nigeria’s public debt rose to ₦152tr in Q2 2025 – DMO

Aminu Imam
DMO on debt

…Up by ₦3tr The Debt Management Office, (DMO), says Nigeria’s total public debt has reached ₦152.39 trillion as of June 30. Nigeria’s total public debt increased by ₦3 trillion or 2.01%, when compared to the ₦149.39 trillion reported in March. The public debt profile consists of the domestic and external debt stocks of the federal and subnational governments — the 36 states and the federal capital territory (FCT). The DMO said the total domestic debt was ₦80.55 trillion ($52.67 billion), while the total external debt was ₦71.84 trillion ($46.98 billion).…

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Reckless Borrowing: “Next loan will be from Opay!” – Dino Melaye taunts Tinubu 

Aminu Imam
Dino Melaye taunts Tinubu

…Declares PDP dead, sold to APC  Outspoken ex-Kogi Senator, Dino Melaye, has torn into President Bola Tinubu, mocking his “endless borrowing spree” and warning that Nigerians may soon see the president turn to fintech apps like Opay and Moniepoint for loans. Speaking during a televised interview on Monday, Melaye mocked Tinubu’s mounting debt profile, warning that the administration’s appetite for loans had reached absurd levels. “There is massive hunger in the land. Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion…

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“Our debts alarming, we must stop reckless borrowing” – H’Reps Speaker, Abbas 

Aminu Imam
H'Reps Speaker, Abbas

Speaker of the 10th House of Representatives, Abbas Tajudeen, has raised alarm over Nigeria’s rising debt profile, warning that it has crossed the country’s statutory threshold, and now threatens fiscal sustainability. Speaking yesterday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC) at the National Assembly, Abuja, Abbas said Nigeria’s debt had reached “a critical point”, and called for urgent reforms in borrowing practices and oversight. “As at the first quarter of 2025, Nigeria’s total public debt stood…

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“Nigeria is not borrowing” – Tinubu declares

Aminu Imam
Tinubu on appointments2

…Dismisses Trump’s policies President Bola Ahmed Tinubu has insisted that Nigeria has no plans to resort to borrowing, announcing that his administration met its 2025 revenue generation target ahead of schedule through the non-oil sector. Speaking at the State House on Tuesday in Abuja, during a courtesy visit by members of The Buhari Organisation (TBO), led by former Nasarawa State governor, Senator Tanko Al-Makura, President Tinubu said the achievement was recorded in August, four months before the end of the fiscal year. “Nigeria is not borrowing. We have met our…

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Nigeria’s debt to World Bank’s IDA hits $18.2bn

Aminu Imam
9ja IDA debt

Nigeria remains the third-largest debtor to the World Bank’s International Development Association (IDA), with outstanding loans rising to $18.2bn as of June 2025, up from $16.5bn a year earlier. This marks a rise from $16.5bn in June 2024, representing a $1.7bn—or roughly 10.3 percent—increase within one year. The latest figures from the IDA’s financial statements show that Nigeria first climbed to third place in 2024, up from its previous position as the fourth-largest borrower in 2023, and has maintained this ranking into 2025. Bangladesh tops the list with $22.6bn, followed…

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Senate approves Tinubu’s $21bn foreign loan 

Aminu Imam
Senate approves3

The 10th Senate yesterday approved President Bola Tinubu’s external borrowing plan of over $21 billion for the 2025–2026 fiscal cycle, paving the way for the full implementation of the 2025 Appropriation Act. The comprehensive borrowing package includes $21.19bn in direct foreign loans, €4bn, ¥15bn, a $65m grant and domestic borrowing through government bonds totalling approximately ₦757bn. Also included was a provision to raise up to $2bn through a foreign-currency-denominated instrument in the domestic market. The approval followed the presentation of a report by the Chairman of the Senate Committee on…

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‘Nigeria’s public debt rose to ₦149.39tr in Q1 2025’ – DMO

Aminu Imam
DMO on debt

Nigeria’s total public debt rose to ₦149.39tn as of March 31, 2025, marking a year-on-year increase of ₦27.72trilliin, or 22.8% compared to the ₦121.67tr recorded in the corresponding period of 2024. The figure, released by the Debt Management Office (DMO) on Friday, also reflects a quarter-on-quarter increase of ₦4.72tr or 3.3% from ₦144.67tr as at December 31, 2024. The persistent rise in debt stock is attributed to new borrowings by the Federal Government and the depreciation of the naira, which inflated the local currency value of external loans. This surge…

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Nigerias debt profile grows by record N46.9tr under Tinubu-led govt.

Aminu Imam

Data published by the Debt Management Office (DMO) has revealed that Nigerias debt portfolio grew by N46.9trillion since the emergence of Bola Tinubu as Nigeria’s President. According to DMO data, as of June 2023, when Tinubu became Nigerias President, the countrys debt profile stood at N87.3 trillion; it however grew to N134.2 trillion as of June 2024.  As of September 2023, the country’s debt  grew to N87.9 trillion, from the N87.3 trillion posted in June 2023; this would mean that within the 3-months period, Nigeria borrowed N600billion. As of December…

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