6.1% Economy Shrink: FG Won’t Be Able To Service Rising Debts, Fund Budget – MAN, LCCI       Key players in the nation’s economy including the Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry on Monday said the government may not able to...

AMCON Takes Over Jabfal Enterprises’ Assets Over N440m Debt     The Asset Management Corporation of Nigeria said on Sunday that it had taken over assets belonging to the chief promoter of Jabfal Enterprises Limited, Mr Joshua Faleye, over indebtedness of over N440m. AMCON said this in a...

Discos’ Debt To NBET Rises To N173bn     Power distribution companies in the country failed to remit a total of N173.35bn to the Nigerian Bulk Electricity Trading Plc for the electricity sold to them in the first four months of this year. The government-owned NBET buys electricity...

Naira Devaluation’ll Raise Debt Profile, Inflation - Experts     The recent devaluation of the naira will lead to a rise in the debt profile of the country and banks in naira terms among other side effects, experts have said. The Central Bank of Nigeria recently adjusted the...

Reps Summon NNPC, NAPIMS, Others Over $16.5m Debt     The Nigeria National Petroleum Corporation (NNPC) and multi-national oil company, Agip, yesterday failed to appear before the House of Representatives Committee on Petroleum Upstream over an alleged failure of Agip to pay a $16.5 million debt to...

LCCI, Expert Worry As Debt Profile Increases By 127%     Stakeholders in the economy have expressed worry over the capacity of the country to service its rising debt profile. In an interview with our correspondent, the Director-General, Lagos Chamber of Commerce and Industry, Dr Muda Yusuf, said...