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...

Nigeria’s Oil And Revenue Now $742.48bn - NEITI   The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Federal Government has earned $741.48billion revenue from the oil and gas sector. The earnings, according to the Executive Secretary Dr. Orji Ogbonnaya Orji, do not include the ones...

N20.51trn 2023 Budget: Rising Deficit, Declining Revenue Raise Concerns   The success of the N20.51 trillion 2023 budget depends on extensive fiscal and monetary measures to address the wide gap between Nigeria’s declining revenue and productivity levels and its ballooning expenditures. Economic and financial experts yesterday took...