The Federal Government is in discussions with the World Bank for three new loans totalling $1.5bn, as Nigeria’s public debt rose to N166.79tn at the end of June 2026. Documents from the World Bank show that the proposed facilities comprise $500m each for climate resilience, social protection and early...
debt
Nigeria Democratic Congress (NDC) Presidential candidate, Peter Obi, on Friday rejected claims that he left Anambra State with a debt of $123.77 million, insisting that the figure being circulated by the state government misrepresents development funding received under his administration. Obi, in a statement posted on his verified X...
The All Progressives Congress (APC) Presidential Campaign Council has called on the presidential candidate of the National Democratic Coalition (NDC), Mr Peter Obi, to withdraw from the 2027 presidential election, following recent disclosures by the Anambra State Government on the state’s financial records during his administration. The council alleged...
The Handover Statement There is another important piece of evidence in the debate: the financial information associated with Peter Obi’s handover. A document presented as Obi’s March 2014 handover financial summary reportedly identified local investments of approximately ₦27 billion, foreign-currency investments of about US$156 million, certified State and MDA...
The latest controversy over the financial legacy of former Anambra State Governor Peter Obi has once again demonstrated how easily public finance can become entangled in political narratives. Numbers are being deployed as weapons, headlines are competing with counter-headlines, and Nigerians are being invited to choose between competing versions...
Former Anambra State Governor, Peter Obi, has dismissed claims that his administration left debts for his successor, describing the allegations as false. Obi was reacting to reports attributed to the Anambra State Government alleging that he left behind inherited debts, including a ₦2 billion ecological loan, contractor liabilities, and...
Senator Ireti Kingibe has raised concerns over the sharp increase in the debt profile of the Federal Capital Territory since Nyesom Wike became Minister of the FCT. Kingibe made the disclosure during an interview on Channels Television on Tuesday August 25 saying the FCT’s debt had risen significantly within...
Federal Government spent N9.39 trillion on wage adjustments, minimum wage increases and allowances for public workers between June 2023 and December 2025, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has disclosed. Oyedele made the disclosure on Wednesday August 19 during a Channels Television media...
Nigeria Government has dismissed claims that the administration of President Bola Tinubu borrowed about ₦80 trillion within three years, insisting that the figures being circulated are misleading and largely driven by accounting adjustments rather than fresh loans. The clarification was made on Tuesday by the Minister of Finance and...
Nigeria’s Debt Management Office (DMO) has raised N1.2219 trillion in its June bond auction after investors submitted bids worth N1.413 trillion, exceeding the N1.2 trillion on offer by N213.5 billion. The DMO had offered N600 billion each in two reopened benchmark bonds: the 22.60 per cent FGN January 2035...
Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has questioned the Federal Government’s rising debt profile despite what he described as a significant increase in revenue under President Bola Tinubu led administration. In a statement shared on X on Wednesday while reacting to the President’s three-year anniversary report, Obi...
Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has criticised the administration of President Bola Tinubu over what he described as excessive borrowing and a lack of transparency in the management of public funds, warning that Nigeria’s growing debt profile poses serious concerns for the country’s economic future. In...
Supreme Court has nullified a Court of Appeal order that froze the assets of Nestoil Limited, Neconde Energy Limited and two other firms over an alleged $1.1 billion debt claim. In a unanimous decision delivered by a five-member panel, the apex court ruled that the appellate court exceeded its...
Nigeria’s Eurobond market recorded mixed performance on Wednesday, May 27, 2026, with yields on the country’s longer-dated sovereign bonds climbing above 8 per cent, reflecting continued investor caution toward emerging market debt despite relatively stable prices across most maturities. Data released by the Debt Management Office (DMO) on Friday...
Nigeria’s Eurobond yields rose across most maturities on Friday, May 22, 2026, reflecting cautious investor sentiment toward emerging market debt instruments amid global market uncertainties. Data released by the Debt Management Office (DMO) on Monday May 25 showed that yields on the country’s sovereign Eurobonds ranged from 5.652 per...
In response to a recent surge of online protests urging the World Bank to stop issuing loans to Nigeria, the Presidency has addressed the concerns raised by Nigerians flooding the international lender’s social media platforms. The online campaign, marked by widespread appeals from citizens frustrated with government borrowing, called...
Debt Management Office (DMO) is back in the domestic market today Monday, 18 with a N600 billion bond reopening, led by the government’s most active long-dated security, the 22.60 percent FGN January 2035 bond. According to the DMO announcement, the offer is split into two tranches of N300 billion...
The Independent Media and Policy Initiative (IMPI) has defended President Bola Tinubu’s debt-for-infrastructure policy, insisting that strategic borrowing remains critical to addressing Nigeria’s huge infrastructure deficit and stimulating long-term economic growth. In a policy statement issued by its Chairman, Dr. Omoniyi Akinsiju, the group argued that criticisms against the...
Former Labour Party presidential candidate, Peter Obi, has raised fresh concerns over Nigeria’s growing debt profile, warning that the country’s rising debt servicing obligations are beginning to overshadow investments in critical sectors such as education, healthcare, and poverty reduction. In a statement shared on Monday on X following President...
Nigerians have taken to the World Bank’s official social media platforms especially Instagram and X (twitter) with comments to urge the lender to halt further approving new loans for President Bola Tinubu’s administration, citing rising debt and concerns over how borrowed funds are used. The outpouring followed reports that...