Nigeria is about to be plunged into another debt repayment scenario. The federal government has forwarded an external borrowing plan to the National Assembly for approval of the legislature. The request though has been denied for now by the Senate, perhaps because the FG...

The Federation Accounts Allocation Committee (FAAC) distributed the sum of N420 billion among the three tiers of government in October this year, being the statutory allocations for the month of September. The distributable monthly allocation marginally decreased below N510.27 billion shared in the month of...

It is no more news that the Nigerian Senate has rejected President Muhammadu Buhari's request for authorization to borrow about $30 billion. The Senate Leader, Ali Ndume, revealed that the loan request was rejected due to technical issues. One of the technical issues missing...

Budget Padding: President Muhammadu Buhari’s avowed determination to punish culprits who smuggled foreign items into the 2016 budget and who caused both national and international embarrassment are back to work, Economic Confidential can report. Investigation by the Economic Intelligence Magazine indicates that the officials who...

Vice-President Yemi Osinbajo, has explained that the current administration decided to invest heavily in infrastructure because it is convinced the effort would translate into economic growth for the country. Speaking at the African Development Bank Knowledge Sharing Forum in Abuja, the Vice-President, who was represented...

The ministries of Finance and Budget and National Planning as well as the Debt Management Office have begun working on the details of President Muhammadu Buhari’s $29.96bn external borrowing plan following its rejection by the Senate. The request for legislative approval for the borrowing plan...