JUST IN: Finally, Nigeria's Debt Servicing Surpasses Revenue by N310bn The cost of servicing debt surpassed the federal government’s retained revenue by N310 billion in the first quarter of 2022. This is contained in the 2022 fiscal performance details between January and April released by the...

JUST IN: Despite Uncertainties, FG to Spend N6.72trn on Fuel Subsidy in 2023 By Ozumi Abdul The Federal Government has concluded plans of making provision for subsidy in 2023 to the tune of N6.72 trillion. This was made known by the Minister of Finance Budget and National...

Naira Falls Again to N645 Per Dollar The Nigerian currency has sunk to a new low, exchanging for N645 against the U.S. dollar in the parallel market. Data from Aboki Forex, revealed that the naira, which traded for N620 against the dollar on Monday and N630...

Electricity: Senate Passes Bill To Boost Power Distribution   The Senate, on Wednesday, passed the Electricity Bill 2022. The bill’s passage was sequel to the consideration of a report by the Committee on Power. Chairman of the Committee, Senator Gabriel Suswam (PDP, Benue North East), in his...

AfDB Board Okays Over $1bn For Emergency Food Production Plan   The African Development Bank (AfDB) Group’s Board of Directors has approved 24, fast-track programmes to help the continent mitigate rising food prices and inflation caused by Russia’s war in Ukraine, climate change and the Covid-19...

$10bn Spent Annually On Education, Medical Tourism - Emefiele   The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele yesterday said $10 billion is spent annually on medical and education tourism. Speaking during the Monetary Policy Committee (MPC) meeting in Lagos, he said education and health sectors...