Nigeria’s Indebtedness To World Bank Hits N6trn   Nigeria’s borrowing from the World Bank has risen by 121.46 per cent under the regime of President Muhammadu Buhari. Economic Confidential learnt that the total debt owed to the World Bank Group by Nigeria rose by $7.64bn (N3.52tn, using...

DisCos Raked In N202.62bn Revenue In Q3, 2022   The National Bureau of Statistics (NBS) said the 11 electricity Distribution Companies (DisCos) collected N202.62 billion revenue in the third quarter of 2021 (Q3 2021). It rose by 7.54 per cent from the N188.11 billion collected in the...

Currency in Circulation Increases By 71% To N1.6trn – CBN   The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March, 2023 after the Central Bank of Nigeria reversed its policy on the naira redesign. According to the CBN,...

Kogi, Six Other States Lose N45bn FG Funding   The Minister of State for Budget and National Planning and the Chairman of the Federal Cares Steering Committee, Clem Agba, has disclosed that only 29 states and the Federal Capital Territory, are beneficiaries of the funds disbursed...

LCCI, NUPENG Knock FG Over Subsidy Removal, $800m Palliative Loan   The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over the $800 million loan the Federal Government has secured to cushion the effect of premium motor spirit (PMS) subsidy removal on poor Nigerians,...

Debt: Nigeria Defaults In Repayment To China, Penalties Stand At N41. 31bn   Nigeria has failed to service its debt to China which has accumulated to N110.31 billion in the last two years. According to report by the Debt Management Office (DMO), the China debt stock...