FG Expenditure Exceeds Revenue by N4.5tn– Report The Federal Government’s expenditure exceeded its accrued revenue in the first six months of 2024, resulting in a budget deficit of N4.53tn, a new report from the budget office has indicated. The deficit spending was driven by a 73.91...

FG Offers $2.2bn Eurobonds to Three US Lenders   Nigeria is returning to the international capital markets for the first time in over two years, issuing Eurobonds to bridge its growing fiscal deficit. According to a document presented to potential investors, the government will offer a 6.5-year...

African Countries Pay 500% More on Global Debt – AfDB African nations are grappling with a staggering 500 per cent increase in debt servicing costs when borrowing from global markets. The African Development Bank’s Vice President and Chief Economist, Prof Kevin Urama, said this at the...

FEC Approves $2.2bn External Borrowing Plan The Federal Executive Council on Thursday approved a $2.2bn external borrowing plan. This is part of the Federal Government’s external borrowing programme for the 2024 Appropriation Act, the Finance Minister, Mr Wale Edun, told State House Correspondents after the Federal...

FG to Nigerians: Economic Reforms now at Result Delivery Stage The Federal Government on Thursday said that it appreciated the endurance of Nigerians on side effects of economic reforms which according to it, have started yielding results. The Minister of Finance and Coordinating Minister of the...

FG Offers Nine-month Window for Forex Deposit without Tax, Scrutin The Federal Government on Thursday announced a nine-month programme beginning on October 31, 2024, that allows individuals to deposit dollar bills held outside the formal banking system without scrutiny. It said the new initiative aims to...