Report Says Nigeria’s Budget Transparency Increased By 45%   The transparency level of the federal government’s budget has moved upwards to 45 per cent, a report from the 2021 Open Budget Survey (OBS) has shown. The report, which was unveiled in Abuja on Tuesday was undertaken by...

States To Lose N19bn In Oil, Gas Revenues In 2022 – World Bank   The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022, as worsening revenue collection at the federation level increases budgetary pressures for the...

Investment In FGN Savings Bonds Rise By 53% To N7.5trn   Investment in the FGN Savings Bonds rose by 53 per cent, year-on-year, YoY, to N7.5 trillion in the first half of the year (H1’22), from N4.9 trillion in the corresponding period of last year (H1’21). Analysis...

Debt Servicing Doubles, Hits N896bn In Three Months – DMO   Nigeria’s debt servicing bill has increased by 109 per cent to N896.56bn. As a result, the country has also spent N3.83tn on debt servicing payments in 15 months, according to data obtained from the Debt Management...

FG, World Bank, AFD to spend $575m On Rural Roads   The Federal Government has signed a tripartite agreement with the World Bank and the French Development Agency to commit an envelope to the tune of $575m for the construction of rural roads in 13 states...

Nigeria’s Public Debt, Others Hit 50-year High – World Bank   The World Bank Group has said that public debt in Nigeria and other low- and middle-income countries is now at a 50-year high, which is equivalent to more than 200 per cent of government revenues. In...