Analysts Kick As CBN Loans To FG Hit N22trn   The Federal Government borrowed N1.46tn from the Central Bank of Nigeria through Ways and Means Advances in August 2022. The total FG’s borrowing from CBN rose from N20.61tn in July 2022 to N22.07tn in August 2022. According to...

Fed Govt Plans N854.8bn For Pensions, Gratuities In 2023   The Federal Government plans to spend N854.8bn on pensions, gratuities and retirees’ benefits in the 2023 budget. President Muhammadu Buhari disclosed this while presenting the 2023 appropriation bill to a joint session of the National Assembly in...

N20.51trn 2023 Budget: Rising Deficit, Declining Revenue Raise Concerns   The success of the N20.51 trillion 2023 budget depends on extensive fiscal and monetary measures to address the wide gap between Nigeria’s declining revenue and productivity levels and its ballooning expenditures. Economic and financial experts yesterday took...

Naira Sells N436.63/$1 at Spot Market, N731/$1 at Black Market The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday, October 6. Yesterday, the exchange rate of the local currency against the greenback closed at...

FEC Okays Proposed N19.76trn 2023 Budget   The federal executive council (FEC) has approved the proposed N19.76 trillion budget for the 2023 fiscal year. Femi Adesina, special assistant to the president on media and publicity, disclosed this while addressing state house correspondents on the outcome of the...

NSITF Pays N1.7bn Claims, Compensation To Rehabilitate Injured Workers   The Nigeria Social Insurance Trust Fund (NSITF) yesterday said it spent over N1.7billion as claims and compensations for rehabilitation of injured workers, death benefits as well as compensation for loss of man hour to their employers...