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Nigeria's Public Debt Hits N152.4 Trillion

Nigeria’s Public Debt Hits N152.4 Trillion In The Month Of June 2025

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Nigeria’s Public Debt Hits N152.4 Trillion In The Month Of June 2025—-Nigeria’s total public debt has climbed to N152.40 trillion as of June 30, 2025, up from N149.39 trillion at the end of March.

This is according to the latest figures from the Debt Management Office (DMO).

The figure represents a quarterly increase of N3.01 trillion, equivalent to 2.01%, while in dollar terms the debt stock rose from $97.24 billion to $99.66 billion, reflecting a 2.49% increase.

External debt portfolio sees modest rise

Nigeria’s external debt stood at $46.98 billion (N71.85 trillion) in June, up from $45.98 billion (N70.63 trillion) in March. The DMO report shows that multilateral lenders remain the largest creditors, with a combined exposure of $23.19 billion, accounting for 49.4% of external obligations. The World Bank, through the International Development Association, is the single largest creditor with $18.04 billion outstanding.

Bilateral loans made up $6.20 billion, led by the Export-Import Bank of China at $4.91 billion, followed by smaller exposures to France, Japan, India, and Germany. Commercial borrowings remained sizeable at $17.32 billion, almost entirely Eurobonds, which account for 36.9% of the external portfolio. A further $268.9 million was owed under syndicated facilities and commercial bank loans.

The reliance on Eurobonds and other commercial instruments exposes Nigeria to global market volatility, while the heavy concentration in multilateral loans indicates continued dependence on concessional financing.

Domestic debt dominated by long-term bonds
On the domestic side, total obligations reached N80.55 trillion by June, an increase of N1.79 trillion from N78.76 trillion in March. Federal Government bonds dominated the portfolio with N60.65 trillion, representing 79.2% of total domestic debt. This category included N36.52 trillion in naira-denominated bonds, N22.72 trillion in securitised Ways and Means advances, and N1.40 trillion in dollar bonds.

Treasury bills accounted for N12.76 trillion, or 16.7%, while Sukuk issues stood at N1.29 trillion. Smaller instruments included savings bonds worth N91.53 billion, green bonds of N62.36 billion, and promissory notes totalling N1.73 trillion. The promissory notes include both naira and foreign currency-denominated liabilities converted at the June CBN exchange rates.

The growing stock of securitised Ways and Means advances underlines the fiscal stress the government faces, even as it leans on bond markets to finance budget deficits.

Federal Government accounts for over 92%
Of the N152.40 trillion debt stock, the Federal Government was responsible for N141.08 trillion, which amounts to 92.6% of the total. This was made up of N64.49 trillion in external obligations and N76.59 trillion in domestic debt.

For the first time in 2025, the DMO provided a separate breakdown of external debt for states and the Federal Capital Territory. Their combined obligations were reported at $4.81 billion (N7.36 trillion), while their domestic debts stood at N3.96 trillion. In total, subnational governments owed N11.32 trillion, accounting for 7.4% of the national debt stock

What you should know
The DMO explained that external debt was converted to naira using the Central Bank’s official exchange rate of N1,529.21 to the dollar as of June 30, 2025. The weaker exchange rate compared with earlier in the year magnified the naira value of foreign borrowings, adding to the rise in the overall stock.

This effect highlights the vulnerability of Nigeria’s debt portfolio to currency depreciation. Even in periods where fresh borrowing is limited, the conversion of dollar and other foreign currency debts at weaker naira levels inflates the total.

Although Nigeria’s debt-to-GDP ratio remains within international thresholds, the pace of growth and the increasing cost of servicing loans continue to raise questions about sustainability.

Nigeria’s debt trajectory underscores the need for stronger revenue mobilisation and fiscal consolidation. Without significant progress in expanding the tax base and reducing expenditure inefficiencies, debt service could continue to crowd out investments in infrastructure and social spending.

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Manchester City Found Guilty of 114 Financial Charges as Sanctions Remain Undecided

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Manchester City Found Guilty of 114 Financial Charges as Sanctions Remain Undecided—-An independent commission has reportedly ruled against Manchester City on all but one of the Premier League’s financial charges, but sanctions are yet to be decided as the club prepares to appeal.

Manchester City have reportedly been found guilty on 114 of the 115 financial charges brought against them by the Premier League, according to reports from The Athletic and The Times, in a major development that could have significant consequences for English football.

The verdict comes more than three years after the Premier League formally charged Manchester City following a lengthy investigation into the club’s finances.

An independent commission is understood to have reached its decisions on the allegations, which cover several seasons dating back to the 2009-10 campaign. City have consistently denied wrongdoing throughout the case.

However, no sanction has yet been decided.

Reports indicate that Manchester City are expected to appeal the findings, meaning the long-running case is now moving into another stage. Sky Sports reports that the process is moving towards an appeal, while the Premier League has declined to comment because the proceedings remain private and confidential.

What Were Manchester City Accused Of?

The Premier League’s original case against City included allegations that the club failed to provide accurate financial information over a nine-year period.

The charges included alleged failures to accurately report revenue, operating costs and sponsorship income, as well as allegations concerning payments made to players and managers.

The Premier League also accused City of breaches relating to UEFA’s Financial Fair Play regulations and its own Profitability and Sustainability Rules.

A separate set of allegations concerned the club’s alleged failure to cooperate with the Premier League’s investigation.

The case was formally referred to an independent commission in February 2023 after a Premier League investigation that lasted several years.

City Maintain Their Position

Manchester City have repeatedly rejected the allegations and continue to maintain their position that the process has not yet been completed.

Following reports of the verdict, a City spokesperson said the Premier League process remains ongoing, with significant elements still to be completed and subject to strict confidentiality. The club also reiterated its previous position from February 2023.

The Premier League has also refused to publicly confirm the reported findings.

A league spokesperson told Reuters: “It’s a confidential process, we’re not commenting at all.”

Sanctions Yet to Be Decided

Despite the reported guilty findings, Manchester City have not been punished at this stage.

The exact sanctions, if any, will depend on the next stage of the proceedings. Possible punishments discussed during the case have included financial penalties and sporting sanctions, but no specific punishment has been confirmed.

That means there is currently no confirmed points deduction, relegation, expulsion or stripping of previous titles.

Any such outcome would have to come through the formal disciplinary process and could also be affected by City’s expected appeal.

Appeal Could Extend the Case

The reported verdict is therefore not necessarily the final word on the matter.

Manchester City are expected to challenge the findings, with Sky Sports reporting that the inquiry is moving towards the appeal stage.

The original hearing lasted 12 weeks, concluding in December 2024, after which the independent commission spent considerable time considering the extensive evidence.

The case has become one of the most significant financial disputes in Premier League history, with the outcome potentially affecting the club’s sporting and financial standing.

For now, the key development is the reported 114 guilty findings from 115 charges.

But with sanctions still undecided, the verdict not publicly released by the Premier League and an appeal expected, Manchester City’s lengthy financial case is far from over.

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Unlocking Website Potential: How Emdash Theme Can Transform Your Online Presence

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In today’s digital landscape, a strong online presence is no longer optional – it’s essential for success. Your website serves as the virtual storefront of your business, and first impressions matter. A poorly designed or outdated website can deter potential customers and damage your credibility. This is where selecting the right WordPress theme becomes crucial, and I’ve found Emdash to be a particularly powerful and versatile option.

Emdash theme stands out for its clean design, user-friendly interface, and extensive customization options. Whether you’re a seasoned developer or a novice user, Emdash makes it easy to create a professional-looking website that reflects your brand identity. Its responsive design ensures that your website looks great on any device, from desktops and laptops to tablets and smartphones. In a world where mobile browsing is increasingly prevalent, this is a non-negotiable feature.

One of the most significant advantages of Emdash is its flexibility. It offers a wide range of pre-built templates and layouts, which can be easily adapted to suit your specific needs. Whether you’re building a blog, an e-commerce store, or a portfolio website, Emdash provides the tools you need to get the job done. The theme is also highly customizable, allowing you to change colors, fonts, and other design elements to match your brand aesthetic.

Beyond its aesthetic appeal, Emdash is also designed with performance in mind. It’s optimized for speed and SEO, ensuring that your website loads quickly and ranks well in search engine results. This is crucial for attracting organic traffic and improving your online visibility. A slow-loading website can frustrate visitors and lead to high bounce rates, which can negatively impact your search engine rankings.

Furthermore, Emdash boasts excellent documentation and customer support. If you ever run into any issues or have questions about the theme, you can rely on their comprehensive documentation or reach out to their support team for assistance. This is a valuable asset, especially for those who are new to WordPress or website development.

In my experience, Emdash has been a game-changer for many of my clients. It has allowed them to create stunning websites that effectively showcase their products and services. It’s a theme that strikes the perfect balance between design, functionality, and ease of use. If you’re looking for a WordPress theme that can help you transform your online presence, I highly recommend giving Emdash a try. You can find more information about the this theme at https://emdashtheme.org.

In today’s digital landscape, a strong online presence is no longer optional – it’s essential for success. Your website serves as the virtual storefront of your business, and first impressions matter. A poorly designed or outdated website can deter potential customers and damage your credibility. This is where selecting the right WordPress theme becomes crucial, and I’ve found Emdash to be a particularly powerful and versatile option. Emdash theme stands out for its clean design, user-friendly interface, and extensive customization options. Whether you’re a seasoned developer or a novice user, Emdash makes it easy to create a professional-looking website that reflects your brand identity. Its responsive design ensures that your website looks great on any device, from desktops and laptops to tablets and smartphones. In a world where mobile browsing is increasingly prevalent, this is a non-negotiable feature. One of the most significant advantages of Emdash is its flexibility. It offers a wide range of pre-built templates and layouts, which can be easily adapted to suit your specific needs. Whether you’re building a blog, an e-commerce store, or a portfolio website, Emdash provides the tools you need to get the job done. The theme is also highly customizable, allowing you to change colors, fonts, and other design elements to match your brand aesthetic. Beyond its aesthetic appeal, Emdash is also designed with performance in mind.

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