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...

FG’s Spending On Pension, Gratuity Drops To N356bn - CBN   The Federal Government’s expenditure on pension and gratuity fell slightly by N3.48bn in 2021, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN revealed in its data on ‘Federal Government recurrent expenditure’...

Nigeria’s Forex Reserves To fall, CBN Plans $1.7bn Arrears Payment   Nigeria’s forex exchange reserve will fall in 2022 as the Central Bank of Nigeria (CBN) plans to clear about $1.7bn in FX backlog to foreigners and FX forward contracts, the World Bank has said. The global...

Subsidy Overtakes Nigeria's Health, Education, Welfare Budgets   The World Bank says the cost of fuel subsidy in Nigeria has exceeded the government’s spending on health, education and social protection for Nigerians. It therefore said that removing fuel subsidy would help the government towards its poverty reduction...