By Ayo Kehinde Nigeria’s total public debt rose to N159.28 trillion as of December 31, 2025, according to the Debt Management Office (DMO), highlighting continued reliance on domestic financing to fund fiscal gaps. The latest figures show a quarter-on-quarter increase of N5.98 trillion, or 3.9 percent, from N153.29 trillion recorded at the end of September 2025. In dollar terms, the debt stock grew from $103.94 billion to $110.97 billion within the same period. On a year-on-year basis, public debt climbed by N14.61 trillion, or 10.1 percent, from N144.67 trillion in December 2024. This translates to a rise from $94.23 billion to $110.97 billion. Domestic debt remained the largest component, accounting for 53.27 percent of total debt. It increased to N84.85 …
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By Ayo Kehinde The International Monetary Fund has trimmed Nigeria’s growth outlook, projecting the economy will expand by 4.1 percent in 2026 and edge up to 4.3 percent in 2027, amid mounting global uncertainties. The forecasts, contained in the IMF’s April 2026 World Economic Outlook released during the ongoing IMF/World Bank Spring Meetings in Washington, indicate a relatively stable trajectory for Nigeria despite rising external pressures. Earlier in January, the Fund had projected stronger growth of about 4.4 percent, but revised the outlook downward following fresh global shocks. Central to the downgrade is the impact of the Middle East conflict 2026, which has disrupted oil supply routes and driven up global energy prices. The IMF warned that such developments are …
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By Ayo Kehinde Nigeria’s crude oil production remained below its quota set by the Organisation of the Petroleum Exporting Countries (OPEC), extending a streak of underperformance to eight consecutive months. According to OPEC’s April Monthly Oil Market Report, the country produced an average of 1.38 million barrels per day (mbpd) in March, up from 1.31 mbpd in February. Despite the improvement of 69,000 bpd, output still lagged the 1.5 mbpd quota by 117,000 bpd. The February figure marked a sharp month-on-month decline of 146,000 bpd, further widening the gap between actual production and the OPEC allocation. This persistent shortfall highlights ongoing structural and operational challenges in Nigeria’s oil sector. Although production showed signs of recovery in January, rising to 1.459 …
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By Ayo Kehinde Nigeria’s foremost industrialist, Aliko Dangote, is advancing plans to launch what could become Africa’s largest initial public offering, as Dangote Petroleum Refinery & Petrochemicals prepares to raise to $5 billion from investors. The highly anticipated share sale is expected to open as early as May, with analysts projecting a company valuation of between $40 billion and $50 billion. This positions the offering as one of the most significant capital market events in Africa’s history, reflecting both the scale of the refinery and growing investor interest in the region. According to market projections, the IPO will involve between 5 percent and 10 percent of the company’s equity. This structure is designed to attract a broad mix of participants, …
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