Subsidy Overtakes Nigeria's Health, Education, Welfare Budgets   The World Bank says the cost of fuel subsidy in Nigeria has exceeded the government’s spending on health, education and social protection for Nigerians. It therefore said that removing fuel subsidy would help the government towards its poverty reduction...

Nigeria Loses $1.7bn Court Case Against JP Morgan   Nigeria has lost a $1.7 billion London court case against JP Morgan Chase & Co for the bank’s role in the transfer of millions of dollars to a former oil minister convicted for corruption. Nigeria had argued that...

FG Offers 9.2% Return For New Three-year Savings Bonds   The Federal Government has opened application list for the June tranches of its monthly retail bond issuance, otherwise known as Federal Government of Nigeria Savings Bond (FGNSB). The Debt Management Office (DMO), which oversees government’s debt issuance...

Nigeria’s Q1 Trade Surplus Hits N1.2trn - NBS   The National Bureau of Statistics (NBS) says Nigeria recorded N1.2 trillion trade surplus in the first three months of the year. The bureau stated this in its recent report entitled: ‘Foreign Trade in Goods Statistics (Q1 2022)’. A trade...

Nigeria’s Public Debt Increases By N2.04trn in Q1, 2022   The Debt Management Office (DMO) said on Tuesday that Nigeria’s total public debt stock increased to N41.60tn in the first quarter of 2022 from N39.56tn as of December 2021. This shows an increase of N2.04tn within a...

Nigeria, Others Face High Risk Of Food Crisis   Nigeria and 44 other countries around the world are severely exposed to the Ukraine war-induced food crisis, a study by Boston Consulting Group, a global management consulting firm, has shown. BCG, in a report titled, ‘The war in...