50% Revenue Used For Servicing Nigeria's Debt – IMF   The International Monetary Fund on Thursday painted the precarious situation of the nation’s economy in particular and Sub-Saharan Africa’s, in general, going by how much the country and the region spend on debt servicing. According to the...

Nigeria Has Room To Borrow More - Udoma Nigeria still has ample room to borrow more whenever it needs to do so, the Minister of Budget and National Planning, Senator Udo Udoma, has said. He explained that the country was not running any debt risk, adding...

NDIC Recovers N28bn Debt, Pays Insured Depositors Of Failed Banks N11.50bn   The Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim yesterday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial...

Oil Marketers Urge FG To Hasten Payment Of N650bn Debt Oil marketers have appealed to the Federal Government to hasten payment of over N650 billion subsidy arrears to save their assets from being taken over by banks. The marketers, under the aegis of Major Oil Marketers...

Power Gencos Gear Up For Force Majeure Over N600bn Debt Electricity generation companies (Gencos) in Nigeria’s power sector may be forced to declare force majeure on their operations anytime soon on account of accumulated debts owed them by the market since 2013, a document seen...

Cocoa Processors Groan Under N50bn Debt, Huge Losses Cocoa processors are currently regretting sinking billions of naira into the cocoa value addition business with little or nothing to show for it even as they face constant harassment from creditors, ANNA OKON writes Cocoa processors in Nigeria...