World Bank: FG Eyes Six Loans as Nigeria’s Debt Hit $9.2bn The Federal Government is set to secure six new loans totalling $2.23bn from the World Bank in 2025 as the international financial institution continues to support the country’s economic and structural reforms. Data from the...

$4.7m, N830m, Properties Linked to Emefiele Seized by Court Order   The Federal High Court in Lagos has ruled in favor of permanently seizing a massive $4.7 million, N830 million, and multiple properties connected to the embattled former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. But...

NECA Raises Alarm Over Customs' FOB Charge, Predicts N2.84trn Burden   The Nigeria Employers’ Consultative Association (NECA) has warned that the newly introduced four per cent Free On-Board valuation on imports by the Nigeria Customs Service will impose an additional N2.84tn in costs on businesses, worsening...

AfDB Expresses Concern Over Slow Progress of Nigeria's $210m Agro-Industrial Project   The African Development Bank (AfDB) has expressed dissatisfaction over the slow progress of the first phase of Nigeria’s Special Agro-Industrial Processing Zones project, raising concerns about the disbursement of the $210m loan allocated for...

NEITI Reveals Oil and Gas Industry's $6.1bn Debt to FG   The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the oil and gas industry owes the federal government a whopping $6.1 billion in outstanding liabilities as of August 2024. These are made up of outstanding...

FG Rolls Out $23bn Programme to Revamp Nigeria's Power Sector   The Federal Government has launched a bold initiative to bridge Nigeria's electricity gap, unveiling an ambitious energy access program aimed at revolutionizing the country's energy sector. It said the programme will require $23.2bn, out of which...