At least ten Nigerian states have collectively raised their domestic debt stock by ₦417.7 billion within a year, despite receiving increased monthly revenue from the Federation Account Allocation Committee (FAAC), …
Tag:
DEBT SERVICING
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EconomyFinance & ServicesGOVERNMENTInfrastructureNigeria
National Assembly Extends 2024 Capital Budget to December 2025 Amid Growing Fiscal Concerns
In June 2025, Nigeria’s National Assembly approved another extension of the capital portion of the 2024 national budget, moving its implementation deadline to December 31, 2025. This marks the second …
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Business and EconomyEconomyFinance & ServicesNigeria
Nigeria’s Debt Servicing Hits N8.9tn in Nine Months, Exceeds 2024 Budget
Nigeria’s debt servicing costs rose sharply to N8.9tn in the first nine months of 2024, far exceeding the pro-rata budget of N6.2tn. A new report by Afrinvest revealed that the …
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AfricaAFRICA NEWSEconomyEgyptNewsNorth AfricaNorthern Africa
Egypt pays $6.3B in debt service in Q3 2021/2022
Egypt’s total debt service surged 105.76% year-on-year during the third quarter of the fiscal year 2021/2022, recording $6.292 billion, according to data released by the Central Bank of Egypt (CBE). Quarter-on-quarter (QoQ), …
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AfricaBusiness and EconomyFinance & ServicesNewsNigeriaWestern Africa
Nigeria’s debt payment exceeds revenue in Q1
Debt servicing surpassed Nigeria’s generated revenue in the first quarter of this year, the Ministry of Finance revealed on Thursday. In the fiscal performance report released by the ministry, the …