• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Monday, September 25, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

    LASU Gets 13 New Governing Council Members

    Sanwo-Olu invites DSS to join Police investigation of Mohbad’s Death

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Lagos Police set up 13-Man Special Investigation Team to unravel Mohbad’s Death

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Fans lose hope over Indefinite Postponement of NPFL

    Fans lose hope over Indefinite Postponement of NPFL

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

    LASU Gets 13 New Governing Council Members

    Sanwo-Olu invites DSS to join Police investigation of Mohbad’s Death

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Lagos Police set up 13-Man Special Investigation Team to unravel Mohbad’s Death

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Fans lose hope over Indefinite Postponement of NPFL

    Fans lose hope over Indefinite Postponement of NPFL

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Nigeria’s N6trn Debt is nothing to worry about – Expert

by Rosemary Opara
July 12, 2023
in Business
3 min read
0
0
Naira Appreciates At Black Market as External Reserves Rise to $620m
Share on FacebookShare on Twitter

…Nigeria should be worried about the overall N55trn debt 

Nigeria’s debt profile to the World Bank of 6 Trillion Naira is nothing to worry about for the country, a Public Finance and Policy Analyst, Segun Elemo has said.

He disclosed this in a media chat while speaking on the statement credited to the Debt Management Office that the 6 Trillion Naira Nigeria currently owes the World Bank is nothing to worry about.

Mr Elemo said the assertion by the Debt Management Office that the debt is nothing to worry about is true to a large extent because it is sourced mainly from the International Development Association Basket which comes with a very low interest rate compared to what obtains in Other loans basket of the bank.

He added that the tenor is also longer and oftentimes is a better option than domestic borrowing which comes with higher interest rates and shorter tenor.

He said the amount is very low compared to the nations’ overall debt to multilateral, private and Bilateral organisations.

He however said the nation should be more worried about the total debt overhang not just a little part of it which is little in comparison.

He said the nations revenue base needs to be strengthened so that government can wean itself off borrowing either external or local.

He said the fat and over-bloated subsidy regime which has gulped trillions over the last decade needs to be ended and revenue scaled up to ensure sustainability.

He added that the Ways and Means issue needs to be addressed with the Central Bank of Nigeria having gone beyond the regulations for borrowing to the Federal Government with it now standing at over 18 Trillion as at the last quarter of 2022.

He said when the Domestic Debt is combined with the External Debts Nigeria has an indebtedness of of over 55 Trillion in Debt.

He disclosed that the Debt Management Office has the Sole responsibility of managing the nations’ debt stock.

Going Further, he said the Federal Government has a lot of issues of development, poverty and infrastructure to attend to with a focus by the Buhari led administration on reflating the Economy through Infrastructure Development which will lead to provision of Employment opportunities to the Youth.

He disclosed that the decision was made by the President to borrow to finance a lot of the projects but said a proper cost analysis of the Infrastructure Financing and procurement model to the Citizens has to be made to know the true cost.

He however said the new and dangerous part of borrowing by the Federal Government is for consumption which include the 800 Million Dollars to cushion subsidy removal for Nigerians.

He advised that if the government should borrow at all for consumption it must be around what is internally generated so as not to create a major challenge going forward.

On if renegotiating loans will help in addressing the issue, he disclosed that no lending institution will due to inflationary trend come back to the table to renegotiate loans.

He said the newly elected President will in his experience of him expand the revenue base like he did in Lagos.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram
Tags: DebtDebt Management OfficeFederal Government of NigeriaWorld Bank
Previous Post

Lagos Assembly calls for State Policing

Next Post

Tinubu seeks N500bn for Palliatives, writes National Assembly

Rosemary Opara

Rosemary Opara

Related Posts

Fuel Hits N250/litre In Abuja, Lagos As  Queues Spread

Infrastructure Bank to provide N13bn to mitigate effects of Subsidy Removal

by Rosemary Opara
September 23, 2023
0

Financial assistance to the tune of N13 billion will be provided by the Infrastructure Bank to mitigate the consequences of...

COVID-19: AFDB approves Nigeria’s $288.5m Loan

AfDB, Google partner to transform Africa’s $115bn Digital Economy

by Idonosan Debe
September 23, 2023
0

...forecast $712bn by 2050 Google and the African Development Bank (AfDB) have deepened their partnership to advance Africa’s burgeoning digital...

Next Post
Tinubu set to arrive Lagos from Paris trip

Tinubu seeks N500bn for Palliatives, writes National Assembly

Please login to join discussion

Recommended

DSS Raids Terrorists’ Negotiator’s Kaduna Residence, Office

Outcome of Investigation on Tukur Mamu Mind-boggling, says DSS

1 year ago
Albania severs diplomatic ties with Iran over cyber-attack

Albania severs diplomatic ties with Iran over cyber-attack

1 year ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Godwin Emefiele Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Murtala Muhammed International Airport Naira NDLEA New naira notes Nigeria Rape Strike action United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

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

    Log In