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Nigeria’s Debt Hits Over 144 Trillion Naira-DMO

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Nigeria’s total public debt rose to N144.67 trillion ($94.23 billion) as of December 31, 2024, reflecting a significant increase of 48.58% compared to N97.34 trillion ($108.23 billion) recorded at the end of December 2023.

This latest figure was disclosed by the Debt Management Office (DMO) in its report on the country’s public debt profile.

The report also indicated a quarter-on-quarter rise of 1.65% from the N142.32 trillion ($88.89 billion) recorded at the end of September 2024, highlighting the continued increase in the nation’s debt burden within the final quarter of the year.

Year-on-year analysis 

An analysis of Nigeria’s public debt on a year-on-year basis reveals a notable increase of N47.32 trillion, representing a 48.58% rise from December 2023 to December 2024.

The surge in public debt was driven primarily by significant increases in both external and domestic borrowings.

Nigeria’s external debt rose substantially by 83.89% from N38.22 trillion ($42.50 billion) in December 2023 to N70.29 trillion ($45.78 billion) in December 2024.

The Federal Government’s domestic debt component rose significantly from N53.26 trillion to N70.41 trillion, a growth of 32.19%. This increase reflects the government’s continued reliance on local borrowing to finance budget deficits and infrastructure projects.

Conversely, the domestic debt owed by states and the Federal Capital Territory (FCT) saw a reduction from N5.86 trillion to N3.97 trillion, representing a decline of 32.27%.

The reduction in state-level borrowing indicates a cautious approach by some subnational governments towards debt accumulation within the year.

Quarter-on-quarter analysis 

The marginal rise within the quarter was driven by increases in both external and domestic debt components.

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External debt grew by N1.4 trillion, moving from N68.89 trillion ($43.03 billion) as of the end of September 2024 to N70.29 trillion ($45.78 billion) in December 2024.

The increase within the quarter was influenced by additional foreign loans obtained in the last three months of the year, alongside the further weakening of the naira against major international currencies.

On the domestic front, debt rose slightly by 1.29%, from N73.43 trillion ($45.87 billion) in September 2024 to N74.38 trillion ($48.44 billion) by the end of December. The Federal Government’s domestic debt increased from N69.22 trillion to N70.41 trillion within the quarter.

However, domestic debt attributed to states and the FCT reduced from N4.21 trillion to N3.97 trillion, reflecting a 5.69% decrease.

Debt composition 

As of December 2024, external debt constituted 48.59% of Nigeria’s total public debt, while domestic debt made up 51.41%, indicating a relatively balanced debt structure.

However, the continued increase in external borrowings suggests a growing reliance on foreign debt to bridge budgetary shortfalls

The breakdown of external debt shows that the Federal Government accounted for N62.92 trillion ($40.98 billion), while states and the FCT held N7.37 trillion ($4.80 billion).

In the domestic debt segment, the Federal Government held N70.41 trillion ($45.86 billion), with states and the FCT accounting for N3.97 trillion ($2.58 billion).

What you should know 

The rise in public debt has sparked concerns among economic analysts, given the potential implications for Nigeria’s fiscal stability.

The sharp increase, particularly in external debt, highlights the vulnerability of the nation’s finances to exchange rate fluctuations and changes in global economic conditions. With the naira’s continued depreciation, the cost of servicing foreign debt could escalate, placing additional strain on the country’s financial resources.

The government’s dependence on both external and domestic borrowing to fund critical projects points to underlying fiscal challenges, including revenue shortfalls and the need for substantial infrastructure investments.

While domestic debt remains the larger component of the debt portfolio, the significant growth in external liabilities underlines the importance of a balanced approach to debt management, particularly in light of Nigeria’s limited foreign exchange earnings

Financial experts have called for more prudent debt management practices, emphasizing the need to boost revenue generation through economic diversification and enhanced tax collection.

They warn that while borrowing can be necessary for development, it must be matched with strategic plans to ensure sustainability and avoid overburdening future budgets.

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BUK, European Space Agency Equip Journalists with Satellite Tools for Climate Reporting

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The participants during the workshop

Anas Yushau Yusuf

Journalists and media practitioners have been equipped with practical skills in the use of Earth Observation technologies to improve climate change and environmental reporting during a capacity-building workshop organised by Bayero University Kano (BUK) in collaboration with the European Space Agency (ESA) and Future Earth.

The one-day workshop, titled “Achieving Transformative Flood Risk Management in Informal African Cities Using Demystified Earth Observation,” was held at Bayero University Kano. It brought together journalists from various media organisations to explore how satellite imagery, geospatial data and Earth Observation platforms can support evidence-based reporting on environmental and climate-related issues.

In his welcome address, the Project Lead, Prof. Aliyu Salisu Barau, said the training was designed to empower journalists with practical tools that would improve the quality, accuracy and credibility of environmental reporting.

“As the climate change crisis continues to unfold across our societies, the public depends on accurate, timely and evidence-based reporting,” he said.

According to him, participants would gain hands-on experience with Earth Observation platforms that can help journalists verify environmental claims, strengthen investigative reporting and communicate complex climate issues more effectively.

Prof. Barau noted that environmental challenges such as flooding, drought, land degradation and rapid urbanisation require reporting that is supported by scientific evidence rather than assumptions.

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The Deputy Vice-Chancellor (Research and Development) of Bayero University Kano, Prof. Amina Mustapha, described climate change as one of the most pressing development challenges confronting Northern Nigeria and the wider Sahel region.

She urged journalists to pay greater attention to environmental stories that directly affect communities, including desertification, the shrinking Lake Chad, food insecurity, climate-induced displacement and the implementation of initiatives such as the Great Green Wall.

Prof. Mustapha stressed that the media has a critical role in informing the public, influencing policy discussions and promoting accountability through accurate and well-researched environmental reporting.

Delivering her remarks virtually, Freya Muir, Research Coordinator at the European Space Agency and Future Earth, highlighted the importance of Earth Observation data in supporting climate monitoring, disaster preparedness and sustainable environmental management.

She explained that satellite-generated data provides reliable information that can help governments, researchers, humanitarian organisations and journalists better understand environmental changes and communicate risks before disasters occur.

The workshop featured technical sessions on the fundamentals of Earth Observation, accessing satellite data for evidence-based reporting, visual storytelling using geospatial information, investigative environmental journalism, and the application of Earth Observation tools for early warning communication and climate risk reporting.

Participants also took part in a hands-on practical session where they were introduced to digital Earth Observation platforms and guided through the process of accessing and interpreting satellite data for story development.

The training forms part of an ongoing collaborative project aimed at strengthening flood risk management in informal African cities by making Earth Observation technologies more accessible to researchers, policymakers and the media.

For many participants, the workshop demonstrated that modern journalism increasingly requires the ability to interpret scientific data alongside traditional reporting methods. By combining satellite imagery with field reporting, journalists can produce more accurate, compelling and impactful stories that contribute to public awareness and informed decision-making on climate and environmental issues.

The workshop ends with a renewed call for stronger collaboration between scientists, academic institutions and the media to ensure environmental reporting is rooted in credible evidence and serves the public interest.

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Journalists, Researchers and Development Experts Call for Greater Focus on Impact Storytelling as ISDI Holds Founding Conversation

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Journalists, filmmakers, researchers and development communication experts have called for a fundamental shift in how development is documented in Africa, urging media practitioners and development actors to move beyond reporting project implementation and focus on the tangible impact interventions have on people’s lives.

The call was made during The ISDI Founding Conversation, convened by the Impact Storytelling for Development Initiative (ISDI) in Kano under the theme: “Documenting What Changed: The Future of Evidence-Based Impact Storytelling in Africa.”

The invitation-only gathering officially introduced ISDI, an independent development communication and impact storytelling institution dedicated to documenting sustainable development through evidence-based journalism, documentary filmmaking, photography, research and strategic communication.

In his opening address, Founder and Executive Director of ISDI, Ibrahim Ayyuba Isah, said the institution was established to bridge the gap between development interventions and the human stories that demonstrate their real impact.

“Every development intervention has two stories. The first is the story of implementation. The second is the story of impact. While implementation tells us what was done, impact storytelling asks a more important question: What changed? ISDI exists to document that second story through evidence, community voices and ethical storytelling.”

Participants agreed that while governments, development agencies and civil society organizations invest significant resources in development programmes, many of the stories that demonstrate how those interventions transform lives remain untold.

Dr. Musa Sufi, Chief Executive Officer of SIDES Media, described ISDI as a timely initiative capable of expanding conversations around development.

“It is inspiring to see an initiative like this coming from Kano. ISDI has given us another opportunity to make an impact. It provides more people with the opportunity to join the conversation and contribute to meaningful change.”

Speaking on the role of solutions journalism, Musbahu El-Hamza, Solutions Journalist and Host of Fitila Podcast, said development communication must go beyond celebrating successes.

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“Development stories do not only focus on what works; they should also examine what does not work and why. If someone tries to implement a solution and the intervention fails, who tells that story and explains why it did not work? That is equally important.”

The Head of News, Cool FM/Wazobia FM and Arewa Radio, Abdurrahman Isah, challenged journalists to move beyond urban centres in search of stories that truly matter.

“Building a school alone is not development. We can only call it development when it touches lives and improves the quality of life of the people living in those communities. That is the story journalism should be telling.”

He also stressed the importance of persistence in reporting, noting that meaningful change often comes through sustained follow-up journalism rather than one-off coverage.

For Nafisa Murtala Ahmed, Development Journalist and Head of Programmes at Express Radio, development storytelling begins with communities telling their own stories.

“We are not telling our own development stories or celebrating our community achievements. Development starts with you. When you develop yourself, you can then contribute to the development of your community.”

She added that journalists must move beyond reporting events to telling stories that connect with people’s lived experiences.

The Founder of KDC Foundation, Khalifa Dankadai, described impact storytelling as an important tool for strengthening accountability and sustainability in development.

“Impact storytelling ensures that we do not merely report implementation but critically examine what changed, what the situation was before the intervention and how it has improved since then. It helps hold donors, implementers and communities accountable while protecting the gains of development.”

Other contributors, including Dr. Najib Usman, Hannatu Suleiman, Hauwa Mustapha, Hayatuddeen Muhammad, Furera Isiaka and Umar Gombe, emphasized the importance of community engagement, inclusion, collaboration, research, follow-up reporting and evidence-based documentation in strengthening sustainable development across Africa.

The conversation concluded with a shared commitment to promote collaboration among journalists, researchers, filmmakers, development practitioners and communication professionals in documenting measurable change and amplifying community voices.

Looking ahead, ISDI announced plans to expand its work beyond storytelling through strategic partnerships, research, public dialogue and the establishment of the ISDI Academy, which will build the capacity of young people, women, content creators, photographers, filmmakers and journalists in evidence-based impact storytelling and documentary production.

About ISDI

The Impact Storytelling for Development Initiative (ISDI) is an independent development communication and impact storytelling institution dedicated to documenting sustainable development through evidence-based journalism, documentary filmmaking, photography, research, strategic communication and capacity building.

Guided by the question “What changed?”, ISDI works to amplify community voices, preserve development knowledge and strengthen accountability by documenting the measurable impact of development interventions across Africa.

Website: www.isdiafrica.org

 

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Pantami’s Church Visit Sparks Mixed Reactions Online

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By Yusuf Danjuma Yunusa

Professor Isa Ali Pantami, the Peoples Democratic Party (PDP) governorship candidate for Gombe State, visited the Evangelical Church Winning All (ECWA) in Federal Low-Cost, Gombe, on Sunday to sympathize with congregants following a recent fire incident that destroyed parts of the church facility.

Pantami, who also serves as a representative of Senate Leader Ibrahim Hassan Dankwambo during the visit, described the gesture as a personal decision given his proximity to the church as a neighbor. He offered prayers for those affected and conveyed Dankwambo’s heartfelt sympathies while expressing solidarity with the church and the broader Christian community.

However, the visit—made by a prominent Islamic cleric—has generated significant debate across social media platforms, with critics questioning the appropriateness of the gesture while others have defended it as a demonstration of inclusive leadership.

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Public Reactions

Social media users offered contrasting perspectives on the visit:

Amoka commented: “Sheikh Pantami Visits Church earlier today in his hometown in Gombe . What politics can not do, doesn’t exist.”

Ibrahim expressed surprise at the political dynamics, stating: “Omo! Fear Politics oo.”

Beatrice offered a lighter take, remarking: “This country na Cruise I swear.”

Others saw the visit through a more unifying lens. Paul noted: “Leadership is for all,” while Isaac Ebiloma emphasized common humanity: “We were humans before religious differences. Politics or not, it’s ok to visit others and sympathize with them.”

The visit comes amid Pantami’s gubernatorial campaign in Gombe State, where religious and ethnic considerations often feature prominently in political discourse. The former Minister of Communications and Digital Economy has faced scrutiny throughout his political career regarding his religious identity and its intersection with public service.

The ECWA church community has yet to issue an official statement regarding the visit or the extent of damage caused by the fire incident.

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