FEC Okays N3.11bn For Communication, Education Projects           The Federal Executive Council on Wednesday approved N3.11bn for contracts in the Ministries of Education and Communication and Digital Economy. The Minister of Information and Culture, Lai Mohammed, disclosed this while briefing State House correspondents at the end of...

Fed Govt Releases Fresh Debtors’ List Nov, 77 Oil Firms Owe N2.66trn           The indebtedness of 77 oil and gas companies to the Federal Government is now N2.66tn, the Nigeria Extractive Industries Transparency Initiative said on Tuesday. NEITI’s Executive Secretary, Orji Ogbonnaya-Orji, who said this in Abuja...

DMO Raises N1.9trn From Bonds In Eight Months         As the debate over borrowings and Nigeria’s debt stock continues, analysts at FBNQuest Research, an arm of the First Bank Group, are presenting a line of argument indicating that the debt stock is still manageable at the...

Buhari Says Nigeria Needs $400bn To Close Energy Shortfall         The President of the Federal Republic of Nigeria Muhammadu Buhari has said that Nigeria needs over $400bn to fund its critical energy needs. Buhari said that $300bn would be needed for electricity generation, transmission and distribution infrastructure...

Credit To Private Sector Rises By N498.6bn In August           The Central Bank of Nigeria (CBN) has disclosed that credit to private sector went up by N498.6billion in August to N33.26trillion from N32.8trillion reported in July 2021. The N33.36trillion figure announced by the CBN is a new...

In Seven Months, Pension Funds Rose By N480bn         The total pension fund assets under the Contributory Pension Scheme rose by N480bn between January and July 2021. Figures obtained from the National Pension Commission on its unaudited report on the pension funds industry portfolio for the period...