Nigeria’s Debt Hits N38trn, Rises By N2.54trn In Three Months - DMO   The Debt Management Office on Tuesday disclosed that Nigeria’s public debt was N38.005tn as of the end of the third quarter of 2021. In a press statement titled, ‘DMO publishes total public debt for...

Reps Pass Finance Bill For Second Reading   The House of Representatives has passed the Finance Bill 2021 for second hearing. In what looked like a U-turn, the House considered the bill after its Committee on Finance had earlier on Monday held a public hearing on it. As...

Banks Record N1.3trn Non-performing Loans – CBN     Banks recorded non-performing loans of N1.3tn as of November which is still currently above the industry benchmark, according to the Central Bank of Nigeria. Figures obtained from the CBN on Monday showed that the bad loans represented 5.4 per...

Fed Govt Revenue Drops By 52% Amid Rising Spending   The Federal Government recorded a fiscal deficit of N405.28bn in August, the Central Bank of Nigeria said in its economic report. It said the government’s aggregate expenditure was N781.61bn while retained revenue stood at N376.33bn. The report said...

Fed Govt To Pocket N227bn As MTN, Mafab Win 5G Licence   Nigerian Communications Commission (NCC) has declared MTN Nigeria and Mafab Communications winners of the two slots of the 3.5GHz spectrum auction for the Fifth Generation (5G) network licenses for a total fee of $546m...

Power Firms Owe Banks N820bn Amid Sector's Lingering Problems     The debt owed to Nigerian banks by operators in the power sector rose by 11.85 per cent in one year to N819.97bn in August this year amid the lingering problems plaguing the sector since it was...