World Bank Says Nigeria Spent 96% Of Revenue On Debt Servicing In 2022   The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the...

Customs Rake In N54bn Revenue In Three Months   The Nigerian Customs Services (NCS) says it generated over N54 billion revenue from its operations in Area 2 Command, Onne Port, Rivers State, between January and March, 2023. The Comptroller, Baba Imam, who stated this during a briefing...

Fed Govt Reopens Shut Oil Wells, Projects N29trn Annual Revenue   The Federal Government is reviving shut-in crude oil wells in a bid to produce about 2.1 million barrels of oil daily, with an estimated worth of N2.4tn monthly, from various drilling facilities in the Niger...

FG Projects 82% Of Revenue For Debt Servicing – IMF The International Monetary Fund (IMF) says the Federal Government has projected to spend 82 per cent of its revenue on interest payments in 2023. According to the IMF, external debt (including that of the private sector)...

World Bank Says CBN Loan Repayments To Gulp 62% Of Revenue   The World Bank has projected that interest payments on the Federal Government’s borrowing from the Central Bank of Nigeria will gulp about 62 per cent of government revenue by 2027 despite the restructuring plan. The...

Revenue: TETFund Records N68bn Shortfall In 2022   The Tertiary Education Trust Fund has revealed that its revenue collection for 2021 used for its operations in the 2022 fiscal year dropped by N68billion. The executive secretary of the fund, Sonny Echono, disclosed this in a one-day meeting...