Osinbajo Says Debt-for-climate Initiative Will Reduce Nigeria’s Debt Burden   The Vice President of Nigeria, Prof. Yemi Osinbajo, has said the Federal Government will reap a huge debt relief from some creditors in dollars if Nigeria’s idea for a Debt-for-Climate swap deal is widely accepted. A statement...

Fed Govt Pays Foreign Firm $496m For Contract Violation   The Attorney-General of the Federation and Minister of Justice, Abubakar Malami has disclosed that the Federal Government has settled a long-standing $5.26bn contractual dispute with a foreign investor group in the steel sector for $496m. A statement...

Commercial Banks Borrow N4.4trn From CBN In Three Months   Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the...

Customs DG Faults N6trn Fuel Subsidy Comptroller General of Nigerian Customs Service (NCS), Hameed Alli, on Thursday faulted the over N6 trillion allegedly being paid as fuel subsidy on Premium Motor Spirit (PMS) in 2022 fiscal year by Nigerian National Petroleum Corporation (NNPC) Limited. The NCS...

Amid Uncertainty, Investors Lose N283b in August Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in the country, especially insecurity and low purchasing power, the 2023 election fear has continued to take a toll...

Fed Govt Projects N120trn As Three-year Consumption Expenditure   The Federal Government has projected an average of N120tn as consumption expenditure by Nigerians on which value-added tax will be charged between 2023 and 2025. This is according to the Medium Term Expenditure Framework and Fiscal strategy paper...