Volatile Exchange Rate May Affect Debt Servicing – Report A new report from PricewatershouseCoopers (PwC) has revealed that Nigeria may face challenges with its debt servicing in 2024 over volatility in the forex market. This was contained in the PwC Nigeria Economic Outlook for 2024 which...

Amidst Hike in Tariff, Power Generation Crashes to 3,383MW The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3pm yesterday. According to the...

We Will Step Up Interventions in Oil and Gas Sector for Enhanced Investment Values - Tinubu   President Bola Ahmed Tinubu has given an assurance that his government will continue to provide the needed interventions in the oil and gas industry in line with the provisions...

In Two Years, Nine Oil Producing States’ Debts Skyrocket Despite N1.88trn Derivation Fund   Despite receiving N1.885 trillion from the 13 per cent oil derivation fund in two years, the nine oil-producing states’ debts as a result of loans taken from local and foreign lenders have...

How External Debt Servicing Gulped $3.07bn in 10 Months – CBN Latest data obtained from the Central Bank of Nigeria (CBN) has revealed that Nigeria spent about $3.07 billion towards servicing external debt. This represents a 38 per cent increase, higher than the $2.22 billion spent...

Currency Outside Banks Surges To N3trn - CBN   Recent data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical records. According to the Money and...