Nigeria's Recurrent Debt Exceeds Projection
Nigeria's recurrent debt profile overshot government projections by N1.63 trillion in the fourth quarter of 2024, according to the Budget Office of the Federation's Q4 2024 Budget Implementation Report.
The total recurrent debt stood at N3.69 trillion, representing a 78.63% increase above the N2.07 trillion projected for the quarter.
- Total recurrent debt: N3.69 trillion
- Projected recurrent debt: N2.07 trillion
- Increase: N1.63 trillion (78.63%)
The sharp rise demonstrates mounting fiscal pressures driven by rising interest payments and external debt servicing obligations.
Author's summary: Nigeria's debt exceeds projections by N1.63 trillion.
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