Nigeria’s Foreign Portfolio Records $2.08bn Shortfall In 11 Years   Nigeria’s foreign portfolio equity recorded a $2.08bn shortfall between 2010 and 2021 amid an unfavourable economic environment characterised by forex challenges and loss of investors’ confidence. According to a World Bank report titled, ‘International Debt Report 2022’...

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...

FAAC Allocation: FG, States, LGs Suffered N270bn Shortfall In 2021   The Federation Account Allocation Committee shared a total of N8.16tn among the three tiers of government in 2021. However, data from the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2022-2024 shows that the amount budgeted...

Power Tariff Shortfall Hits N2.4trn In Six Years   Power tariff shortfall hits N2.4trn as power consumers did not pay a total of N2.4trn for the quantum of electricity they consumed between 2015 and 2020, the Federal Government has stated in its latest report on Nigeria’s...

Gencos Record N304bn Payment Shortfall In Nine Months   A Chinese company, Chinese Civil Engineering Construction Corporation, has handled the majority of railway projects in Nigeria worth over $25.51bn (N10.5tn)s, according to the United States-based Fitch Solutions’ latest report on Nigeria railway system. The report, titled ‘Nigeria...

FG Suffers N1.4trn Shortfall Despite Aggressive Revenue Drive       Between January and May 2021, the Federal Government recorded a revenue shortfall of N1.4tn, an analysis of the Medium Term expenditure framework and Fiscal Strategy paper for 2022-2024 has shown. According to the report obtained from the Budget...