An increase in the money shared by the Federation Account Allocation Committee (FAAC) boosted the revenues of 15 states in the fourth quarter of last year, resulting in a decrease of N117.6 billion in total domestic debt stock. 

IMF Foresees Weaker Economic Growth For Nigeria   The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0 per cent from 3.1 per cent in its October forecast. It disclosed this in its ‘World Economic Outlook Update, January 2024.’ In a table,...

Amidst Hike in Tariff, Power Generation Crashes to 3,383MW The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3pm yesterday. According to the...

In Two Years, Nine Oil Producing States’ Debts Skyrocket Despite N1.88trn Derivation Fund   Despite receiving N1.885 trillion from the 13 per cent oil derivation fund in two years, the nine oil-producing states’ debts as a result of loans taken from local and foreign lenders have...

Again, Lagos Generates More IGR than 30 States Combined …. RICH/Economic Viable States: Lagos, Ogun, River, Kaduna, Kwara, Oyo and Edo States … INSOLVENT/Poor IGR States: Bayelsa, Kebbi., Katsina, Akwa-Ibom, Taraba and Yobe States

Despite Concerns Over Capital, Banking Index Rises By 6%   During the past week, the banking index of the Nigeria Exchange Limited (NGX) recorded the highest gain of 6.08 per cent week-on-week compared to other indexes on the local bourse as investors’ wealth grew by N66bn. Banking...