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Debt Servicing Rises, Gulps 72% Of FG Revenue 

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4 years ago

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Of the N3.25trillion made by the Federal Government as revenue in 2020, it spent N2.34trillion on debt servicing within the year. 
This means that 72 per cent of the government’s revenue was spent on debt servicing. 
This is according to a review of the budget performance of the 2020 Appropriation Act.
In 2019, the Federal Government made a total revenue of N3.86tn. Within the year, debt servicing gulped N2.11trillion. This puts the Federal Government’s debt servicing to revenue ratio in 2019 at 54.66 per cent.
This means that between 2019 and 2020, the Federal Government’s debt servicing to revenue ratio jumped from 54.66 per cent to 72 per cent.
As of March 31, the Debt Management Office (DMO) put Nigeria’s total debt at N33.11tn. Out of this figure, N20.64trillionn (62.33 per cent) was owed to domestic creditors, while N12.47trillion (37.67 per cent) was owed to foreign creditors.
Of the domestic debt profile, N16.51tn belong to the Federal Government while N4.12tn belong to the 36 states of the federation and the Federal CapitalTerritory Administration.
The N12.47tn foreign debt was not broken into federal and subnational segments. However, historically, about 86 per cent of Nigeria’s foreign debt usually belong to the Federal Government.
Although the Federal Government consistently argues that its debt to Gross Domestic Product is low, economists and experts say that it is better to use the debt servicing to revenue ratio to measure a country’s indebtedness.
This is because the debt servicing to revenue ratio measures a country’s capacity to repay its loans.
Although the Federal Government had projected a revenue of N5.84tn for 2020, actual revenue was N3.25tn.  It also projected to spend N2.68tn on debt servicing.
As in the previous years, a greater percentage of the country’s revenues came from oil in 2020. Oil revenue contributed N1.41tn, non-oil sources contributed N1.26tn, while independent funding sources contributed N578.45bn.
In 2020, the Federal Government spent N3.17tn on personnel and overhead costs, two segments of the nation’s recurrent expenditure.
The government spent N1.57tn on capital expenditure. Total expenditure for the year was N9.75tn, with the nation borrowing a total of N2.06tn as domestic borrowing in the year.
In 2019, Nigeria made N3.86tn as revenue. Oil revenue contributed N1.620tn; non-oil revenue contributed N1.69tn, while independent funding contributed N547.270bn.
The Federal Government spent N2.37tn on overhead and personnel cost within the year and N1.17tn on capital expenditure. Total debt servicing gulped N2.11tn of government revenue. Total expenditure for the year was N8.29tn, and total borrowing was N912.82bn.

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Kenyan Runners Dominate Berlin Marathons

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3 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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3 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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3 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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