FG Spends Over N5trn To Cover Electricity Subsidy In 10 Years   The federal government’s effort to subsidise electricity tariff for Nigerians has seen it cough out over N5 trillion in the last 10 years amounting to over 664 per cent growth, data from the Nigerian...

NNPCL To Pay Taxes, Royalties From $3.3bn Afrexim Loan   The Nigerian National Petroleum Company Limited (NNPCL) on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this...

CBN Reveals Foreign Medical, School Bills Gulped $1.58bn In Six Months   Nigerians spent $1.58bn on health tourism, foreign education, and other personal matters in six months, data from the Central Bank of Nigeria have revealed. The data from the apex bank’s Balance of Payment compilation spanning...

World Bank Reveals Nigeria’s Poverty Rate Reduced By 7%   The World Bank has estimated that improved access to internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania. This was disclosed in a new brief titled, “Digital...

 CBN Won't be Allowed to Print Money - Budget Minister Amidst revenue pressures facing the 2024 national budget, the Federal Government has indicated that it would no longer allow Central Bank of Nigeria, CBN, to print money by Ways and Means to fund the budget...

'How FG Save N8trn From Subsidy Removal, FX Reform'   The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the fuel subsidy removal and exchange rate unification policies. Oyedele spoke during a...