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.
News
Nigerian Student Wins 2026 Spelling Bee World Championship
It has been reported that a Nigerian won the 2026 Spelling Bee World Championship, which was held in Shanghai, China. The winner, Chinedu Great Okdediachi, has now returned home to Delta State after his victory.
It can be noted that the student had already emerged as one of the Gold Award winners in the Middle School Group category.
“Congratulations once again, Chinedu! Your success continues to inspire young Nigerians to pursue excellence through education. Welcome home, Champion!”
The young star has made Nigeria proud by winning the international competition.
News
‘My Reforms Have Stabilised Nigeria’s Economy’ — President Tinubu
President Bola Ahmed Tinubu has stated that his administration’s economic reforms have helped stabilise Nigeria’s economy and placed the country on a path toward steady growth.
He said “My reforms have stabilised Nigeria’s economy and put it on a path of steady growth.”
The President added that the reforms are creating more opportunities for development across the country.
However, many Nigerians reacted online, with some questioning the impact of the reforms and saying they have yet to experience the positive effects.
News
Nyesom Wike Says He Knows Civil Servants Don’t Like Him
Nigerian politician and FCT Minister, Nyesom Wike, has said that he is aware many civil servants do not like him.
He shared that he understands why he is unpopular among some civil servants, explaining that funds previously spent on unnecessary conferences are now being redirected to road construction projects.
He said “Some people say conferences for corruption and I say what is that? You are going for conferences to do what? These are ways government funds are being diverted. I say put this money in this road here and the people will get the impact.”
-
Entertainment24 hours agoLove Island Winners Bryce and Trinity Ignore Online Drama
-
Entertainment2 hours ago‘Dating Doesn’t Mean I’ll Cook for You’ — Simi Sanya
-
Entertainment5 hours ago‘Don’t Let Anyone Pressure You’ — Sharon Adeleke on Outfit Repeats
-
Entertainment3 hours ago‘Abeg Nah Old Video’ — 2Baba Addresses Viral Rumours With Annie
-
Entertainment4 hours ago‘People Talk About Everything I Do’ — Cardi B Speaks Amid Dating Rumours
-
Entertainment2 hours agoThe Hottest Songs on the Billboard Hot 100 Today
-
Entertainment4 hours agoGodzilla x Kong Actress Kaylee Hottle Passes Away
