Business

Just in: Nigeria’s Public Debt Stands At N46.25trn

Published

3 years ago

March 30, 2023

The nation’s public debt stood at N46. 25 trillion, as at the end of December 2022.

According to the Debt Management Office (DMO), which released the data, this afternoon, the figure accounted for the total debt owed by the federal and state governments, as well as, the Federal Capital Territory.

The debt position as at December 2022 was about N6.69 trillion (22.47%) higher when compared to the end December 2021 figure which was N39. 56 trillion.

The DMO said that the debt figure under review was 23.20% of the Gross Domestic Product (GDP), indicating that it was well within the limits set by both the federal government and international orhganisations.

It said, “The ratio of 23.20% is within the 40% limit self-imposed by Nigeria, the 55% limit recommended by the World Bank/International Monetary Fund, and, the 70% limit recommended by the Economic Community of West African States.”

Business

Naira Extends Appreciation Against US Dollar

Published

10 hours ago

January 8, 2026

Editor

The naira extended appreciation against the dollar at the official foreign exchange market on Wednesday.

The Central Bank of Nigeria’s data showed that the Naira further firmed up on Wednesday to N1,418.26 per dollar, up from N1,419.07 exchanged on Tuesday.

Wednesday’s uptrend represents a slight N0.80 gain against the dollar on a day-to-day basis.

Meanwhile, at the black market, the Naira remained unchanged against the dollar at N1,480 per dollar on Wednesday, the same rate recorded the previous day.

The development comes as Nigeria’s foreign reserves further rose to $45.62 billion as of January 6th, 2026.

Recall that on Tuesday, the Naira posted a N10.24 gain against the dollar.

Business

Naira Continues Gain Against US Dollar As Nigeria’s Foreign Reserves Climb To $45.57bn

Published

3 days ago

January 6, 2026

Editor

The Naira appreciated further against the United States Dollar at the official foreign exchange market, beginning the week on a good note.

Central Bank of Nigeria data showed that the Naira strengthened on Monday to N1,429.31 per dollar, up from N1,430.85 exchanged on Friday, 2 January 2026.

This means that the Naira gained N1.56 against the dollar on Monday when compared to N1,430.85 last week Friday.

At the black market, the Naira dropped by N5 to N1480 per dollar on Monday, down from N1475 traded Friday.

The development comes as the country’s external reserves rose to $45.57 billion as of Friday last week.

Business

NNPCL Reduces Fuel Price Again

Published

3 days ago

January 5, 2026

Editor

The Nigerian National Petroleum Company Limited, NNPCL, has again reduced its premium motor spirit price.

In Abuja, on Monday morning, it was gathered that NNPCL retail outlets have reduced their fuel price to N815 per liter, down from N835.

This means that the NNPCL filling stations cut their price by N20.

The fresh price has been implemented at NNPCL filling stations in Wuse Zone 6 and 4 Abuja, Keffi-Abuja Road, and Kubwa Expressway.

An NNPCL filling station attendant, who preferred anonymity, told DAILY POST that the new price was implemented on Sunday evening.

However, the N815 per liter is N79 higher than the N739 per liter sold at Dangote Refinery’s backed MRS filling stations nationwide.

DAILY POST recalls that NNPCL on December 19, 2025, cut its price of petrol by N80 to N835 amid a price war among players in the country’s oil downstream sector triggered by Dangote Refinery’s gantry price reduction to N699 per liter.