Financial

Why Reps Probe 5-Year Fuel Subsidy, Allege N2.9tr Diversion The House of Representatives has set up an ad hoc committee to investigate the petroleum products...

Credit to Private Sector Hits N3.01trn In Five Months   With the Central Bank of Nigeria (CBN) retaining 65 per cent minimum Loan-to-Deposit Ratio (LDR), among...

FG’s Borrowing From Local Investors Rises By 21% In H1, 2022   The Federal Government borrowed N4.2 trillion from local investors in the first half of...

World Bank Says Fuel shortage, Inflation’ll Weaken Nigeria’s Economic Growth   The World Bank has said that fuel shortage and rising inflation will likely restrain economic...

TETFund: N185bn Spent On Training 35,000 Nigerian Scholars A total of N185 billion has been expended on the training of 35,000 Nigerian scholars by the...

All-commodity Terms Of Trade Drops By 0.14% in Q1, 2022   The National Bureau of Statistics (NBS) said that the All-commodity Terms of Trade (TOT) index...

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...

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...

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...

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...

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...

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...

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...

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)...

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,...

Nigeria Loses $1.7bn Court Case Against JP Morgan   Nigeria has lost a $1.7 billion London court case against JP Morgan Chase & Co for the...

Nigeria Lost N1.04trn Aircraft Repairs In Foreign Countries – FG   Nigeria lost $2.5bn (about N1.04tn at the official exchange rate of N415.63/$) to other countries...

Contributory Pension Gains N640bn In Four Months, Now N14trn   Total assets under the Contributory Pension Scheme rose by N640bn in four months to N14.06tn in...

World Bank Predicts More Hardship For Nigerians Over Rising Inflation, Power Cut, Fuel, Food Shortage   The World Bank has predicted more hardship of Nigerians and...

Nigerian Insurance Sector Records 15.68% Growth In Q1, 2022     The Nigerian insurance sector grew by 15.68 per cent in the first quarter of the 2022...