The National Bureau of Statistics (NBS) has released a concerning report on Nigeria’s public debt stock, which has surged to N97.34 trillion ($108.23 billion) in the fourth quarter of 2023. This represents a 10.73% increase from the previous quarter, with Lagos State leading the charge in both domestic and external debts. The NBS report indicates Read More…
Tag: Domestic debt
Nigeria’s financial sector navigates global debt surge, balancing risks
As Nigeria grapples with its debt dynamics, expert voices weigh in on the delicate equilibrium between issuance and investor sentiment. Thys Louw, seasoned portfolio manager at Ninety One, highlights the central concern: the divergence between debt issuance and inflows into dedicated funds. For high-yield issuers, this divergence poses a significant challenge. In a Reuters report, Read More…
Unveiling Nigeria’s N23 Trillion Debt Quandary: Navigating Accountability and Economic Stability
On Thursday last week, the Nigerian Naira experienced a significant drop to an unprecedented low against the US dollar in the unregulated market, as reported by currency traders nationwide. In Lagos, traders near the Ikeja area noted an exchange rate of N935.00 per dollar, while in Abuja, dealers reported trading at N950.00 per $1, a Read More…
Lagos, 10% of domestic debt as national portfolio hits N28.63trn
PICTURE ABOVE CREDIT: Stears Business The National Bureau of Statistics (NBS) said on Friday that the total public debt portfolio of the Federal and State Governments as of March 31 stood at N28.63 trillion. The NBS made this known in its Nigerian domestic and foreign debt report released in Abuja. The bureau said that further Read More…