Debt Trap: Are Loan Apps Creating a New Wave of Poverty in Nigeria?
High-cost borrowing often forces people to take new loans to pay off existing debts, creating a vicious debt cycle, particularly ...
Tag: Debt
Navigating Debt and Growth: Strategies for Enhancing Nigeria’s GDP amidst Rising Public Debt
Nigeria, Africa's most populous nation and one of its largest economies faces mounting challenges related to its growing public debt. ...
Unsustainable Debt is Holding Back Education Funding
Debt, declining development aid, and lack of domestic funding are holding back efforts to achieve access to quality primary education ...
Unlocking Financial Freedom: Three Tips to Crush Debt
On average, Nigerian adults carry over ₦217,136.00 in debt per individual – a figure that emphasizes the importance of addressing ...
Nigeria Spends $1.169b on Debt Servicing in First Half of 2023
The Central of Nigeria (CBN) has released a report that highlights Nigeria's significant debt servicing expenses in the first half ...
Amid Surging Debt, Analysts Advocate for Domestic Resource Mobilization
As Nigeria's public debt reaches alarming levels, analysts are increasingly emphasizing the urgent need for domestic resource mobilization. With the ...
Nigeria’s Debt Burden and the Zambian Example
Zambia's economy shrank by 3% in 2020 and only increased by a modest 1% in 2021. After the parameter shrank ...
Nigeria’s Debt Burden to Hit N81.64tn, Raises Concerns for Debt Sustainability
The Debt Management Office (DMO) in Nigeria has expressed concerns over the country's excessive borrowing, projecting that the debt burden ...
President Tinubu Outlines Economic Priorities for Nigeria’s Future
President Bola Tinubu, in his inaugural speech after being sworn in as Nigeria's 16th President, expressed his immediate objective of ...
High Debt Profile: Buhari also wants Asset, Investment Evaluations
President Muhammadu Buhari has highlighted the significance of factoring in Nigeria's assets and investments while assessing the nation's debt profile, ...
Lopsided Fortunes: Nigerian Banks Flourish, Customers Grapple with Failed Transactions
Nigerian banks have been experiencing a surge in profits, with five of the country's largest banks ranking among the top ...
Has CBN’s Idea of Curbing Inflation become Counter Productive?
The playbook adopted by the Central Bank of Nigeria (CBN) to curb inflation seems ineffective amid persistent inflationary pressures. Inflation ...
CBN says Unclaimed Monies in Dormant Accounts to be Invested in T-Bills
The Central Bank of Nigeria is proposing to mop up funds in accounts that have been dormant for up to ...
Nigeria’s Debt Service Costs N3.63tr in 2022
In 2022, the Nigerian government spent N3.63 trillion servicing its external and domestic debts. This is based on information obtained ...
World Bank Bemoans Poor Infrastructure, says ‘Nigeria is on Debt Servicing
According to the World Bank, Nigeria's major challenge is that it spends all of its revenues on debt servicing rather ...
