World Bank Says Nigeria Spent 96% Of Revenue On Debt Servicing In 2022   The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the...

Bayelsa, Ondo, Lagos Record Highest Rate Of Inflation - NBS   Bayelsa, Ondo and Lagos states recorded the highest rate of inflation in March 2023. This was according to the latest National Bureau of Statistics data on inflation across the country, which was released on Saturday. According to...

10m Households To Get N5,000 As Subsidy Palliative For Six Months - FG   The federal government will pay N5,000 to 10 million households for six months as palliative for removing petrol subsidy after June. Economic Confidential reports that the amount is N50 billion per month and...

NECA Warns FG Against IMF Demand, Rejects Tax Hike   The Nigeria Employers’ Consultative Association (NECA) says the International Monetary Fund (IMF)’s call on the Federal Government to increase taxes in order to reduce borrowing will affect economic growth and worse the country’s plight. The Director General...

JUST IN: Nigeria's Inflation Rate Rises to 22.04 Percent   The consumer price index (CPI), which measures inflation - the rate of change in prices of goods and services - rose to 22.04 percent in March 2023. The inflation rate rose from 21.91 percent in the previous...

NSIA Assets Rise to N1trn, Attract $500m FDI   The Nigeria Sovereign Investment Authority (NSIA) says it grew its net assets by 10.5 per cent to N1.02tn in 2022 from N919.73bn in 2021. The Sovereign Wealth Fund manager disclosed that earnings from interest income, infrastructure business revenue,...