External Debt Archives - Outlook Nigeria

Tinubu: Nigeria Cannot Build $1tn Economy Without Borrowing for Infrastructure

admin / 2 weeks

4 min read

President Bola Tinubu has defended his administration’s plan to secure additional foreign loans, saying Nigeria needs long-term investment in infrastructure to achieve its ambition of becoming a $1tn economy by 2030. Tinubu said the proposed loans would finance roads, improve electricity supply, upgrade ports, and support other projects expected to create jobs, expand businesses, and […]

FG Defends $21.7bn Loan Plan, Says Borrowing Will Build National Assets

admin / 2 weeks
0
3 min read

The Federal Government has defended its proposed $21.7bn external borrowing plan, saying the funds are intended to finance productive assets rather than consumption. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made this known shortly after Wednesday’s Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja. Addressing public commentary […]

Nigeria Spends $2.01bn on External Debt Repayment in Four Months

admin / 1 year

2 min read

Nigeria increased its external debt repayment by 49 per cent year-on-year, according to recent international payment data from the Central Bank of Nigeria (CBN). Between January and April 2025, the Federal Government spent $2.01 billion servicing foreign debt, up from $1.33 billion during the same period in 2024. Debt servicing accounted for 77.1 per cent […]

External Debt: High Cost of Servicing Straining Revenue – CBN

admin / 2 years

3 min read

The Central Bank of Nigeria (CBN) has revealed that external debt servicing cost the country approximately $5.47 billion between January 2024 and February 2025, exacerbating the strain on national revenue, foreign reserves, and fiscal stability. Additionally, total foreign exchange direct remittances rose by 1.3% year-on-year (YoY) to $180.03 million in the first two months of […]

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Tinubu: Nigeria Cannot Build $1tn Economy Without Borrowing for Infrastructure

FG Defends $21.7bn Loan Plan, Says Borrowing Will Build National Assets

Nigeria Spends $2.01bn on External Debt Repayment in Four Months

External Debt: High Cost of Servicing Straining Revenue – CBN