Senate Approves Buhari’s Request On Fresh $5.8bn Borrowing   The Senate, on Wednesday, approved the request by President Muhammadu Buhari for loans totalling $5,803,364,553.50 and a grant component of $10m under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government. The approval followed the consideration and...

Fed Govt Debt Servicing Gulps N2.49trn In Nine Months – DMO   Nigeria spent N2.49tn on debt servicing payments in the first nine months of 2021, data obtained from the Debt Management Office have shown. Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing,...

Inflation: Prices Continue To Soar Despite Drop In Nov   The inflation rate in Nigeria fell in November to 15.40 per cent (year-on-year), the lowest since December last year, according to the National Bureau of Statistics. The NBS, in its Consumer Price Index report on Wednesday, said...

Reps Order Probe Of Navy’s $195.3m Equipment Contract To Foreign Firm   The House of Representatives has mandated its Committee on Navy to investigate whether the Deep Blue contract agreement is in line with extant laws and regulations, and the standards of all platforms purchased for...

W/Bank Announces $93bn Package For Nigeria, 73 Others   The World Bank announced on Wednesday a $93bn replenishment package of the International Development Association to help 74 low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future. The Bretton Woods institution...

National Assembly Okays N633bn Budget For NCC   The National Assembly has approved a N633.393 billion budget of the Nigerian Communications Commission (NCC) for the 2022 fiscal year. The budget was approved after the Senate and the House of Representatives adopted the reports of their Committees on...