News
Nigeria’s Foreign Debt Servicing Costs Jump 39.7% to $3.57 Billion in 2024
In the first nine months of 2024, Nigeria spent $3.57 billion on foreign debt servicing—a 39.7% increase from the $2.56 billion spent during the same period in 2023, according to a Central Bank of Nigeria (CBN) report.
The highest monthly payment in 2024 was recorded in May, at $854.36 million, surpassing 2023’s peak of $641.69 million in July.
January saw a 389% increase compared to the previous year, while May’s payments rose by 286.52%. Although slight decreases occurred in June and July, September’s servicing costs were 17.49% higher than in 2023.
Amid rising debt payments, Nigeria’s total public debt reached N134 trillion in Q2 2024, up 10% from Q1.
It has been reported that Bola Ahmed Tinubu was absent at the commissioning of the Opebi-Mende Link Bridge, which took place on April 8, 2026.
However, Senate President Godswill Akpabio represented the President and carried out the ceremony.
As he commissioned the project, he stated “On behalf of President Bola Ahmed Tinubu, I commission these projects.”
Residents of Lagos should prepare for traffic disruptions as several roads will be closed due to the visit of Bola Ahmed Tinubu, who is set to commission infrastructural projects.
The commissioning will take place on April 8 and 9, 2026.
Affected areas on Wednesday (April 8):
Opebi, Allen Avenue, Ikeja, Ojota, and Victoria Island.
Affected areas on Thursday (April 9):
Lekki-Epe Expressway, Ikoyi, Victoria Island, and Ajegunle.
Motorists are advised to plan alternative routes and expect heavy traffic during these periods.
President Donald Trump makes headline as he threatens Iran on social media.
The president shared “Open the F***ing Strait, you crazy bastards, or you’ll be living in Hell — JUST WATCH!”
It can be noted that he even did a countdown on Saturday “48 hours before all Hell will rain down on them,” he warned Saturday. “Time is running out.”
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