We Are Prioritising Investment Over Borrowing - Edun   The Federal Government has improved its resource allocation strategy to enhance efficiency and sustainability while reducing reliance on high-cost commercial borrowing. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said this on Thursday at...

Banks Borrowing From CBN Now N12trn   There are indications that commercial banks and merchant banks are increasingly depending on the Central Bank of Nigeria for liquidity as their borrowing from the apex bank has intensified in the last eight months of 2023. Aside from August 2023...

World Bank To Nigeria: Reduce Govt Borrowing From CBN   The World Bank Group has urged Nigeria to reduce government’s borrowing from the Central Bank if it wants to reduce the inflationary pressure on the economy. World Bank’s Lead Economist for Nigeria, Alex Sienaert, stated this on...

Nigeria’s Debt Rose To N46.25trn In 2022 – DMO   The Debt Management Office (DMO) has stated that Nigeria’s debt profile as of December 31, 2022 is N46.25 trillion or $103.1bn. In a statement yesterday, DMO said there was an increase of over N7tr from what the...

Reps Approve N1trn Borrowing, Dump N22.7trn Loan Request   The House of Representatives, on Tuesday, partly approved of the requests made by President Muhammadu Buhari on Ways and Means Advances from the Central Bank of Nigeria. While the House approved restructuring of N1tn WMAs, the lawmakers dropped...

Reps Approve N8.4tn Borrowing, N6.3tn Debt Service - Budget President Muhammadu Buhari, will on Friday (today) lay the 2023 Appropriation Bill before a joint session of the National Assembly in Abuja. Ahead of the Federal Government budget presentation, the House of Representatives, on Thursday, passed the...