Lagos, Kano Highest Beneficiaries Of N75bn Survival Fund – Fed Govt   Lagos, Kano and Abia States have emerged as the highest beneficiaries of the federal government’s Survival Fund, following their receipt of N2.5bn, N2bn and N1.7bn respectively. This was the highlight of a presentation made by...

Fed Govt Overshoots Debt Servicing By N1.15trn In 11 Months     The Federal Government exceeded its debt service allocation by N1.15tn for the period between January and November, 2021, documents have shown. A copy of the public presentation of the 2022 approved budget by the Minister of...

‘NPA To Refund N40.13bn, $921.64m To FG’   The Auditor-General for the Federation has indicted the Nigeria Port Authority (NPA) for failure to recover and remit N40.126 billion, $921.636 million and 289,931.82 pounds to government treasury from various revenue sources in 2019. This was contained in 13...

FG Says Discos’ Indebtedness Hits N326bn In Nine Months   The shortfall in remittances by power distributors to the Nigerian Bulk Electricity Trading Company Plc and the Market Operator of the sector rose to N326bn between January and September 2021, the Federal Government has said. Latest data...

Bank Loans To Govt Increase By 23% In Nine Months, Now N2.1trn   Bank loans to government have risen by 22.59 per cent, hitting N2.17tn as of the end of September 2021 from N1.77tn recorded in December 2020. This represents a N400bn increase within the nine-month period. This...

Capital Importation Drops By N1.68trn – CBN   Foreign investors appear to have boycotted the Nigerian market as capital importation has dropped by $4.08bn (N1.68tn) in one year, latest statistics have shown Between January and September 2020, total capital importation amounted to $8.55bn, data from the National...