CHIKUN/KAJURU REP, HON. FIDELIX BAGUDU, ANNOUNCES NEW APPOINTMENTS TO STRENGTHEN INCLUSIVE GOVERNANCE. (PHOTO).

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  Chikun/Kajuru Rep, Hon. Fidelix Bagudu, Announces New Appointments To Strengthen Inclusive Governance The Honourable Member representing the Chikun/Kajuru Federal Constituency, Hon. Fidelix Joseph Bagudu, has announced a wide-ranging list of new appointments aimed at deepening inclusive governance and enhancing representation across the constituency. The appointments, which take immediate effect, were unveiled in alignment with Kaduna State Governor Senator Uba Sani’s commitment to participatory governance. According to the lawmaker’s office, the list reflects deliberate efforts to ensure fair representation of all wards, communities, and interest groups across Chikun and Kajuru Local Government Areas (LGAs). A statement issued by the Media and Publicity Directorate noted that the move also fulfills the Honourable Member’s campaign pledge to integrate every segment of the constituency into the decision-making and governance structure. The appointments cover several categories, in...
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PUBLIC DEBT RISES 48% TO N144.67TRN IN 2024 — DMO. (PHOTO).

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 Public debt rises 48% to N144.67trn in 2024 — DMO


Nigeria’s public debt surged by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024, up from N97.34 trillion ($108.23 billion) in 2023.


This was disclosed by the Debt Management Office (DMO) in its most recent public debt profile report.


The total debt consists of external debt amounting to N70.29 trillion ($45.78 billion), which is serviced with $4.66 million, and domestic debt of N74.38 trillion ($48.44 billion).


The report revealed that the country’s external debt rose by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.


Meanwhile, domestic debt grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.


Additionally, the report showed that the Federal Government’s domestic debt component rose by 32 per cent YoY, reaching N70.41 trillion from N53.26 trillion in 2023.


In contrast, the domestic debt of states and the Federal Capital Territory fell by 32 per cent YoY to N3.97 trillion in 2024, down from N5.86 trillion in 2023.


The increase in public debt can largely be attributed to fluctuating exchange rates amid changes in global economic conditions.


The sharp rise, particularly in external debt, underscores the nation’s vulnerability to exchange rate fluctuations and shifts in global economic dynamics.


As the naira continues to depreciate, the cost of servicing foreign debt could rise, placing additional strain on the country’s financial resources.

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