Financial

Nigeria's External Debt Servicing Rises To $2.78bn   Nigeria’s debt servicing in the first seven months of this year rose by 53.63 per cent, or $971.47m,...

Electricity Subsidy: Hospitals, Tertiary Institutions May Gulp N188bn   The Federal Government may spend approximately N188.25 billion annually to subsidise electricity supply for about 75 public...

CBN,NDIC, SEC Partner To Simplify Bank Recapitalisation The Central Bank of Nigeria (CBN) the Securities and Exchange Commission (SEC) and the Nigeria Deposit Insurance Corporation...

Oil Production Fell by 160,000bpd in Q2 – NBS Nigeria’s daily oil production shrank by 160,000 barrels per day in the second quarter of 2024. This...

The Central Bank of Nigeria (CBN) has just revealed its plan to issue N2.20 trillion in treasury bills during the fourth quarter (Q4) of 2024, matching the amount set to mature from September to November this year. 

The International Monetary Fund (IMF) is advising the Federal Government of Nigeria to sustain its ongoing economic reforms for the country to get better and achieve the desired economic growth that will lift the majority of citizens out of poverty. 

REA Announces Completion Of N28.7bn Projects From 2023 Budget   The Rural Electrification Agency (REA) yesterday said it has completed N28.7 billion projects out of its...

'FG Spending Exceeds Revenue by 225%' A report by BudgIT, an accountability firm, has revealed that the Federal Government spent three times its revenue in...

NSC Saves N31bn from Demurrage Application in Six Month The Nigerian Shippers’ Council (NSC) has said that out of a total requested amount of N50.8bn...

Nigeria's Fiscal Deficit Increased by 0.1% in April – CBN The Federal Government’s fiscal deficit rose month-on-month by 0.1 per cent to N824.79bn in April...

FG Pays N205bn From N1.3trn Owed Power Generation Companies The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed...

FG Opens Offer For $500m Domestic Bond, Bars Cash Payment   The Federal Government, through the Debt Management Office, has opened offers for its dollar-denominated domestic...

'Banks’ Assets Rise To N121.8trn' The total assets of the banking sub-sector of Nigeria’s Financial & Professional Services Sector, has risen by 56.14 per cent...

CBN Reveals $343m Decline in External Reserves Nigeria’s foreign exchange reserves dipped by $342.97m to $36.53bn in nine days, data from the Central Bank of...

According to Capt. Samuel Caulcrick, Nigeria's flawed tax policy and the failure of the government to properly capture the economy market in the country are a few reasons why the economy would continue to be in doldrums. 

Lagos to Launch Electronic Tax Portal Mid-August The Lagos state government says it will launch its online tax platform on August 15. The platform is called...

Tax Weaver on Essential Food Items Commences Next Week – Customs The Nigeria Customs Service (NCS) will begin implementation of weaver of taxes on...

Nigeria Secures $500m Loan To Support Energy Transition Programme The African Development Bank (AfDB) Group has approved a loan of $500 million to Nigeria to...

EFCC Recovers N231.62bn in One Year The Economic and Financial Crimes Commission (EFCC) has recovered over N231.623billion during the first year of the administration of...

Nigeria’s Spending on Jet Fuel Importation Drops by 87% to N31bn - NBS   Nigeria’s spending on kerosene type jet fuel importation fell quarter-on-quarter (QoQ) by...