$60bn Cash Call: Reps Probe NNPCL Over Losses The House of Representatives on Wednesday resolved to investigate the Nigerian National Petroleum Company Limited (NNPCL) over an alleged loss of an estimated $60bn to inflated Cash Calls. To this end, the House mandated its Committee on Finance...

'Nigeria’s Debt Now N87.91trn'   Nigeria’s total public debt rose marginally by 0.61 per cent quarter-on-quarter to N87.91trn in the third quarter of 2023. This is according to new debt stock data from the Debt Management Office (DMO) released on Wednesday. According to the data released, total external...

Again, Lagos Generates More IGR than 30 States Combined …. RICH/Economic Viable States: Lagos, Ogun, River, Kaduna, Kwara, Oyo and Edo States … INSOLVENT/Poor IGR States: Bayelsa, Kebbi., Katsina, Akwa-Ibom, Taraba and Yobe States

'Contributory Pension Assets Rise to N17.66trn'   The total assets under the Contributory Pension Scheme rose to N17.66tn as of the end of October 2023. Figures obtained from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for the period ended October 31,...

Electricity Consumers Pay N783bn as Subsidy Gulps N376bn   The Federal Government spent N375.8bn on electricity subsidy between January and September this year, as power consumers paid a total of N782.6bn for the commodity during the same period, it was gathered on Sunday. The latest power subsidy...

Report: Nigeria, Others Spend $441bn on Debt Servicing – World Bank Nigeria and other developing countries have spent about $441bn on debt-serving in the past 40 years, according to a new World Bank report. The World Bank report also disclosed that Nigeria received $2.9b and topped...