Global Oil Price Rises as OPEC+ Cuts Production Brent, the global benchmark for crude oil, jumped in price on Monday, following the voluntary production cuts by member nations of the Organisation of Petroleum Exporting Countries, as well as OPEC allies, jointly referred to as OPEC+. Oil...

In Three Months, FG Borrowed N3.17trn   The money borrowed by Federal Government in the first quarter stood at more than N3.17 trillion, records have revealed. Data obtained by The Nation Economic Intelligence showed that the government had raised N3.17 trillion in the past three months through...

External Reserves Drop By $1.46bn In Two Months - CBN   The country’s external reserves fell by $1.46bn between January and March, figures obtained from the Central Bank of Nigeria have revealed. The reserves ended February 27, 2023 at $36.67bn. Figures obtained from the CBN’s data on movement...

Buhari's Administration: Chinese Loans Rise By 209%, Hit $4bn   Federal Government’s borrowing from China has grown by 209.15 per cent under Muhammadu Buhari administration. This is as total bilateral loans rose by 219.91 per cent from $1.58bn as of June 2015 to $5.07bn as of December...

Lagos, Delta Top States’ N5.33trn Domestic Debts   The domestic debt owed by state governments and the Federal Capital Territory administration rose to N5.33tn as of the end of December 2022. The sub-national domestic debt stock was N4.46tn by the end of 2021, which means it rose...

Nigeria’s Debt Rose To N46.25trn In 2022 – DMO   The Debt Management Office (DMO) has stated that Nigeria’s debt profile as of December 31, 2022 is N46.25 trillion or $103.1bn. In a statement yesterday, DMO said there was an increase of over N7tr from what the...