Gas Flaring: Reps to Clampdown on Firms, Recover Debts   The House of Representatives has asked the National Oil Spill Detection and Response Agency (NOSDRA) to provide it with ‘specified information’ on companies involved in gas flaring, including the amount flared and penalty cost in the...

Reps To NPA: Resolve $753m, N1.61bn Debts Immediately   The House of Representatives’ Committee on Public Accounts, on Tuesday, ordered the Nigerian Ports Authority to immediately call a meeting with firms operating Nigeria’s ports to determine their actual indebtedness to the Federal Government. This is based on...

New Data Reveals NNPC’s Debts to FG, States Hit N1.055trn In Six Months   The total debts owed by the Nigerian National Petroleum Company Limited (NNPCL) to the federal and state governments have hit N1.055 trillion in the first six months of 2022, new data from...

Nigeria’s Debts May Hit N45trn In Q4 2022, LCCI Predicts   The Lagos Chamber of Commerce and Industry (LCCI) has predicted that Nigeria’s total debts was expected to hit N45.86 trillion by December 2022. According to the President, LCCI, Mr. Michael Olawale-Cole, who spoke at a press...

Hidden Debts, Bad Loans Stopping New Credits - W/Bank   The World Bank Group has said non-performing loans and hidden debts are making it difficult for banks to grant new credits to customers. In a report released yesterday, the bank disclosed that developing countries face growing risks...

Nigeria, Others Piled Up $860bn Debts In 2020 - W/Bank   Low income countries, including Nigeria, piled up a debt of $860 billion last year, following COVID-19 outbreak, the World Bank has said. In a report, the World bank said: “Governments around the world responded to the...