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...

How Nigeria Lost N13trn to Forex Subsidy — World Bank   The Federal Government incurred a significant loss of N13.2tn in foregone revenue as a direct consequence of the implementation of its foreign exchange subsidy policy between 2021 and 2023, the World Bank has stated. It said...

Nigeria Lost 5% of GDP to Petrol Subsidy – Wale Edun The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says petrol subsidy cost Nigeria about 5 percent of its gross domestic product (GDP). On May 29, President Bola Tinubu said the petrol...