JUST IN: FG Proposes N26trn for 2024 Budget   The federal government is proposing N26trn as the 2024 budget which is expected to be submitted to National Assembly before December, 31. Minister of National Planning and Budget, Alhaji Atiku Bagudu, announced the budget proposal at the end...

N130bn USSD Debt: Telcos Threaten Court Action Against Banks   Telcommunications operators (Telcos) under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), have threatened to drag Nigerian banks to court over the unpaid Unstructured Supplementary Service Data (USSD), which has accumulated over...

How States Obtained N26.31bn Excess Crude Account Loans   State governments have acquired about N26.31bn loans from the Excess Crude Account facility, which is meant for implementing development and infrastructural projects. Findings showed that a total of about N183.1bn excess crude account facility deposit sits in the...

'Naira Under Pressure, Nigeria May Seek Dollar Loan'   The International Monetary Fund (IMF) has said the naira is currently under pressure and Nigeria is free to seek loan from the Fund to stabilise the currency if it considers a good option. The Washington-based lender however noted...

Foreign Investments in Manufacturing Hit $861m   Total inflow of foreign investments into the Nigeria’s manufacturing sector increased by 88.17 percent year-on-year (YoY) to $861.16 million in the first half of 2023 (H1’23) from $457.66 million in the corresponding period of 2022 (H1’22). This also indicates 75.47...

Minister: Land Reforms Will Unlock $300bn Dormant Capital   The Federal Government has disclosed plans to unlock over $300bn ‘dead’ capital in the housing sector through a series of reforms in land administration and collaborations with stakeholders. The Minister of Housing and Urban Development, Ahmed Dangiwa, during...