FG To Pay N272.9bn Maturing Bonds   The Federal Government allocated 2.6 per cent of its total expenditure totalling N272.9bn to settle pending contract obligations in the 2020 budget, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has said. This is 148 per cent higher...

2020: FG Targets 56% Revenue From Non-oil Sources   To demonstrate its determination to diversify the economy, and attendant revenue streams, the Federal Government hopes to generate about 56 per cent of its 2020 projected revenue from the non-oil sources. This target is probably being buoyed by...

FG Defends $22.7bn Loan, Admits Debt Service Budget High   The Federal Government has said Nigeria cannot service its debts with the current revenue generation capacity. The government insisted that debt to Gross Domestic Products ratio is still within the threshold but admitted that the debt to...

FG, Oil Firms Owe NDDC N1.27trn, $73m — National Assembly     The National Assembly has said it is set to invite some Federal Government officials and 17 local and international oil companies over alleged indebtedness to the Niger Delta Development Commission to the tune of N1.27trn...

Nigeria’s Problem Is Revenue, Not Debt, Says Zainab Ahmed   Minister of Finance, Zainab Ahmed, has said that Nigeria does not have a debt problem, despite misgivings amongst experts over the country’s rising debt profile. Ahmed, who decried what she termed ‘insensitivity’ concerning the country’s debt situation,...

FG To Finance 2019 Budget Deficit With New Taxes, Concessions   The Federal Government plans to finance Nigeria’s N1.859tn budget deficit in 2019 by introducing new taxes and adopting a concessionary financing system under its privatisation programme. The government also stated that the projected deficit, at 1.33...