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NIGERIA’S rising debt profile, despite improving government revenues, presents a critical challenge that demands urgent action focused on transparency, fiscal discipline, and rigorous oversight to maintain debt sustainability.

The Speaker of the House of Representatives, Tajudeen Abass, sounded the alarm at a recent public forum, revealing that Nigeria’s public debt had surged to N149.39 trillion (approximately $97 billion) by the first quarter of 2025.

This escalation pushed the debt-to-GDP ratio to 52 percent, significantly surpassing the recommended ceiling of 40 percent.

The sharp increase from N121.7 trillion in 2024 highlights a growing fiscal burden and a continued reliance on…

• COPE reveals SLPA fuel supply unit began operations in 2014 at Hambantota Port with CPC licence
• Borrows $ 24 m from local bank with SLPA guarantee
• Finds $ 18.8 m outstanding while company had begun liquidation process despite two lawsuits from bank
• Asserts liquidation inadequate, SLPA officials asked to expedite loan repayment
• Among 33 SOEs to be liquidated for underperformance

The Committee on Public Enterprises (COPE) has found that the Magampura Port Management Company, a fuel supply unit of the Sri Lanka Ports Authority (SLPA) at the Hambantota Port, is in the process of liquidation with nearly $ 19 million borrowed from a local…

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Job opportunities

Box 12, supplier of boxing studios and programming, is going into voluntary liquidation, with Begbies Traynor Group appointed as liquidator of the current trading company, Box 12 Global Ltd.

Its debts have not yet been established.

A specialist accountant with industry knowledge was brought in to try to rescue Box 12 Global Ltd, but this has ultimately not been possible.

A new company, Box 12 Ltd, has acquired the assets of Box 12 Global Ltd from the liquidator, so the brand can…

According to Forbes, Americans are carrying a grand total of $1.2 trillion in credit card debt. But Amanda Bruggman, Duluth branch manager at Affinity Plus Federal Credit Union, says debt consolidation programs can help save money while paying down debt.

“When you have maybe more than one debt or debt that has a larger payment, bringing it all together into one, often for a lower interest rate and lower payment, is what we would consider a debt consolidation,” she said.

There are several ways to go about it, including unsecured loans or home equity loans.

For demonstrative purposes, Bruggman showed an example of someone carrying $10,000 of credit card debt. If someone paid $300 a month and never added any more debt,…