• Latest
  • Trending
TINUBU ASSURES INVESTORS OF BETTER BUSINESS CLIMATE

Nigerian Government Repays Chinese, IMF, World Bank Loans With $3.5 Billion in 9 Months – Report

Ebonyi Government Raises Minimum Wage to N90K for Workers

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane

President’s Son Jailed Over Secret Sale of National Airline Plane

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Uzodimma Raises Imo Minimum Wage to ₦104,000

Uzodimma Raises Imo Minimum Wage to ₦104,000

Thursday, August 28, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Business News

Nigerian Government Repays Chinese, IMF, World Bank Loans With $3.5 Billion in 9 Months – Report

by iDeemlawful
November 13, 2024
in Business News
A A
0
TINUBU ASSURES INVESTORS OF BETTER BUSINESS CLIMATE

According to the Central Bank of Nigeria’s (CBN) international payment statistics report, federal government debt servicing expenses surged by 39.7% to $3.5 billion in the first nine months of 2024, reflecting a notable increase in debt repayment obligations.

The report shows that May 2024 saw the highest monthly debt servicing payment, reaching $854.36 million, while the highest monthly payment in 2023 was $641.69 million in July.

Nigeria debt service on monthly basis

A month-by-month breakdown for 2024 shows January’s debt servicing cost at $560.51 million—up 389 percent compared to $112.34 million in January 2023.

In February, payments dropped by 1.8 percent from $288.54 million in 2023 to $283.21 million in 2024.

SeeThese

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane

Similarly, March payments decreased by 31.04 percent from $400.47 million in 2023 to $276.16 million in 2024.

In April, however, debt payments rose to $215.20 million compared to $92.85 million in 2023.

In May, the government spent $854.36 million—up 286.52 percent from $221.05 million in May 2023.

Debt payments in June 2024 declined to $50.82 million from $54.35 million in June 2023, while July saw a 15.48 percent decrease to $542.5 million from $641.6 million last year.

In August, payments fell by 9.69 percent, amounting to $279.9 million compared to $309.9 million in August 2023.

However, in September 2024, payments rose 17.49 percent, reaching $515.81 million, up from $439.06 million in September 2023.

Concerns over Nigeria’s debt management have grown, with the Debt Management Office (DMO) reporting that public debt rose by 10 percent to N134 trillion in the second quarter of 2024 from N121.67 trillion in the first quarter.

By June 2024, domestic debt stood at N71.22 trillion ($48.44 million), while foreign debt reached N63.07 trillion ($42.90 million).

On November 4, President Bola Tinubu noted a reduction in Nigeria’s debt service-to-revenue ratio from 97 percent to 65 percent

Share202Tweet126SendShare
Previous Post

EFCC arraigns syndicate impersonating Olukoyede

Next Post

Many injured as LASTMA, protesters clash over death of Motorist in Lagos

iDeemlawful

iDeemlawful

Next Read

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets
Business News

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets

...

Read more
EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

...

Read more
NCAA orders Phones Off During Flights
Business News

NCAA orders Phones Off During Flights

...

Read more
Nigerian Government Hits Back as US Tighten Visa Rule
Business News

Nigerian Government Hits Back as US Tighten Visa Rule

...

Read more
9mobile Changes Name, Logo
Business News

9mobile Changes Name, Logo

...

Read more
CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

...

Read more
Business News

After $3b repairs, NNPC Considers Selling Nigeria’s 445,000 bpd Refineries

...

Read more
31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST
Business News

31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST

...

Read more
Next Post
Many injured as LASTMA, protesters clash over death of Motorist in Lagos

Many injured as LASTMA, protesters clash over death of Motorist in Lagos

Nigeria Needs $10billion Investment For 24-hour Electricity – Power Minister

Nigeria Needs $10billion Investment For 24-hour Electricity - Power Minister

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Bad leadership cause of varsities’ failure – Ebonyi VC

Bad leadership cause of varsities’ failure – Ebonyi VC

Osun Muslim/Masquaraders Clash: Justice Must Be served– OSMC President

Green Club University of Ilorin to Host Insightful Webinar On Webinar on Climate Change

Most Popular

Ebonyi Government Raises Minimum Wage to N90K for Workers
Featured

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K
Campus News

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane
International News

President’s Son Jailed Over Secret Sale of National Airline Plane

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In