FG, World Bank, AFD to spend $575m On Rural Roads   The Federal Government has signed a tripartite agreement with the World Bank and the French Development Agency to commit an envelope to the tune of $575m for the construction of rural roads in 13 states...

FG’s Spending On Pension, Gratuity Drops To N356bn - CBN   The Federal Government’s expenditure on pension and gratuity fell slightly by N3.48bn in 2021, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN revealed in its data on ‘Federal Government recurrent expenditure’...

Nigeria Loses $1.7bn Court Case Against JP Morgan   Nigeria has lost a $1.7 billion London court case against JP Morgan Chase & Co for the bank’s role in the transfer of millions of dollars to a former oil minister convicted for corruption. Nigeria had argued that...

Nigeria Lost N1.04trn Aircraft Repairs In Foreign Countries – FG   Nigeria lost $2.5bn (about N1.04tn at the official exchange rate of N415.63/$) to other countries in 2021 for the Maintenance, Repair and Overhaul services on Nigerian aircraft and other facilities, the Federal Government announced on...

Contributory Pension Gains N640bn In Four Months, Now N14trn   Total assets under the Contributory Pension Scheme rose by N640bn in four months to N14.06tn in April, according to figures from the National Pension Commission (PenCom) released on Friday. This was contained in the National Pension Commission...

 Despite Unstable Power, Discos Generated N2.4trn   The Electricity Distribution Companies (Discos) raked in a total of N2.4 trillion as revenue between 2015 and 2020, the National Bureau of Statistics (NBS) has revealed. According to the NBS, revenue generated by the DisCos in 2015 stood at N278.89...