Senate Approves Buhari’s N7.6trn External Borrowing Request   The Senate yesterday approved President Muhammadu Buhari’s request to borrow about N7.6 trillion comprising $16.2 billion and €1 billion (Euros) under the 2018-2020 External Borrowing (Rolling) plan, and a $125 million grant component. It also approved the request to...

W/Bank Demands Debt Transparency, Says Nigeria, Others Need $429bn   The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external financing needs in Nigeria and other low income developing countries will reach $429bn between 2023 and...

Senate President Threatens MDAs With Zero Allocation   The President of the Senate, Ahmad Lawan, has issued a one-week ultimatum to Federal Government’s Ministries, Departments and Agencies which have not appeared before relevant committees of the red chamber to defend their budget proposal for 2022, to...

FG To Mandate Ownership Disclosure Of Oil Assets To Curb $1trn Losses   The Federal Government, through the recently established Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday, said it would become compulsory for oil and gas companies operating in the country to disclose their owners under...

Nigeria Lagging Behind In $2trn Islamic Finance Market - Minister   Zainab Ahmed, Minister of Finance, Budget and National Planning says the penetration of Islamic financing in Nigeria is low and remains insignificant in the over $2 trillion global market, despite potentials to drive a more...

FCT Minister Presents N64bn Proposal For 2022 Budget   The Minister of Federal Capital Territory, Malam Mohammed Bello, has disclosed that the FCT would spend the sum of N64,861,604,695.00, for its 2022, National Priority Projects. Mr Anthony Ogunleye, Chief Press Secretary to the minister, in a statement...