Senate Says Budget Office Paid Four MDA’s N19bn Without Approval   The Senate has asked the Budget Office of the Federation to refund the sum of N19bn the agency disbursed to four unnamed Ministries Department and Agencies without the approval of the Minister of Finance, Budget...

Debt Servicing Increase By 14.68% In 2022 – DMO   Nigeria’s debt servicing bill went up by 14.68 per cent to N3.36trn in 2022, data from the Debt Management Office has shown. According to DMO, N2.93tn was spent on external and domestic debt servicing payments in 2021. Recall...

MAN Says Carbonated Drink Tax Affected Manufacturers In 2022   The Manufacturers Association of Nigeria (MAN) has said that a major setback that plagued the productive sector in 2022 was the introduction of an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened...

Pension Fund Investment In FG Securities Rise By 16.5% To N9.9trn Pension Fund investment in Federal Government debt instruments (securities) rose 16.5 per cent, year-on-year to N9.9 trillion in February caused by the high interest rate regime prompted by the inflation fighting measures of the...

360% Increase In Public Debt Worrisome - LCCI   The Lagos Chamber of Commerce and Industry has said that it was worried about the 360.4 per cent increase in Nigeria’s public debt from N10.04tn in 2013 to N46.25tn in 2023. In a statement signed by its Director-General,...

Alleged N20bn Diversion: Reps Probe NNPCL Officials The House of Representatives, on Thursday, set up an ad hoc committee to investigate the Nigerian National Petroleum Company Limited over the alleged diversion and conversion of N20bn by its officials in the guise of payment to consultants. This...