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Nigeria maintained its position as the third-largest global borrower from the World Bank’s International Development Association despite a marginal reduction in its debt stock. The nation’s outstanding exposure to the concessional lending arm stood at $18.5 billion as of March 31, 2026. This figure marks a slight 1.7 percent drop from the $18.7 billion recorded…
The Central Bank of Nigeria has ordered state governments to end their addiction to overdrafts and short-term loans. This fiscal recklessness now threatens the bank’s planned shift to a rule-based inflation-targeting framework. Deputy Governor Muhammad Abdullahi warned state officials on Sunday that expansionary spending at the sub-national level blunts the edge of monetary policy. States…
The Debt Management Office (DMO) is seeking to raise ₦700 billion through a bond auction today, April 27, 2026. This issuance forms a critical component of the federal government’s domestic borrowing programme designed to plug budgetary gaps. Investors will bid across three distinct re-openings, with the settlement date set for April 29. The auction comes…
Total public debt stock for Africa’s largest economy climbed to N159.28 trillion as of December 2025, with domestic borrowing now constituting the larger share of the nation’s liabilities, according to official figures released by the Debt Management Office. The data, which aggregates the obligations of the Federal Government, the 36 state governments, and the…
Developing economies including Nigeria continue to pay interest rates three to four times higher than advanced countries, a disparity driven by weak revenue structures and risk assessment methodologies that ignore long-term economic potential, the Director of the Intergovernmental Group of 24 (G-24), Dr. Iyabo Masha, has said. Masha made the disclosure on Friday during…
