DMO Says Repayment Of N22.7trn Loan To Begin 2026   The repayments of principal to service the loans from the Central Bank of Nigeria (CBN) through the Ways and Means Advances will begin in four years. This was according to a disclosure by the Debt Management Office...

Top Ten Banks Pay N260.3bn As Income Tax   Ten top commercial banks listed on the Nigerian Exchange Limited have paid N260.3 billion as Company income tax (CIT) in 2022, representing a 28 percent increase over the N203.06 billion they paid in 2021. This was disclosed by...

Nigeria’s Borrowing From World Bank Hit $14.34bn In Q1, 2023   Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31, 2023. This was an increase from the $13.93bn debt recorded by the Debt Management Office (DMO) as of December 31, 2022. This means that...

Fuel Subsidy: CISLAC Queries $800m World Bank Loan for Nigerians   The Civil Society Legislative Advocacy Centre, CISLAC, has queried the Federal Government over the World Bank’s $800 million loan to the country, as a palliative to cushion the effect of the proposed fuel subsidy removal...

FG Refunds States N860bn For Road Construction   The Federal Government has refunded N859.7bn to various state governments as reimbursement for out-of-pocket expenditures incurred in constructing federal roads over eight years. This was disclosed in a fact sheet highlighting achievements of the Buhari administration shared by the...

Senate Approves Restructuring Of FG’s N22.7trn Unbudgeted Loans From CBN   The Senate yesterday approved the request of President Muhammadu Buhari to restructure the N22.7 trillion Ways and Means loan advanced to the Federal Government by the Central Bank of Nigeria (CBN). The approval followed the consideration...