Nigeria Spends Over 99% Revenue On Debt Servicing   Nigeria’s grave fiscal position for the 2022 financial year became clearer, as latest data showed that of N4.26 trillion total revenue available for financing the 2022 budget in the first three quarters of last year, a colossal...

We Recovered N471.82bn Intervention Loans In Six Months – CBN   The Central Bank of Nigeria (CBN) has said it recovered N471.82bn as cumulative repayment from the bank’s intervention programmes in the first half of 2022. According to the apex bank’s half-year report for 2022, the recovery...

NERC May Okay Tariff Hike As Electricity Subsidy Hits N2.8tn   There are strong indications the Federal Government may consider the request by power distribution companies for a review of their tariff, as the government spending on electricity subsidy has risen to N2.8tn. A new report by...

Agents Predict 15% Rise in Car Import Over Tax Removal Licensed Customs agents have said that the removal of the import adjustment tax by President Bola Tinubu would boost car importation by 15 per cent. According to the founder of the National Council of Managing Directors...

FG Spent $1.1bn On Foreign Debt Service   As Nigeria continues to grapple with economic challenges, it has emerged that the federal government spent $1.169 billion to service its debt obligation from January to June 2023. According to the export and international payment data released by the...

28 States Attracted No Foreign Investment In Q1 - NBS   28 states failed to attract capital importation in the first quarter of 2023, according to the new Foreign Direct Investment data released by the National Bureau of Statistics (NBS). Out of the 36 states and the...