Nigeria’s Debt May Hit N77tn, Says DMO As FG Spends N5.2tn On Debt Serving In 2022
Nigeria’s public debt burden may hit N77tn if the National Assembly approves the request by the President, Major General Muhammadu Buhari (retd.), to restructure the Ways and Means Advances. Thee Ways and Means Advances is a loan facility through which the Central Bank of Nigeria finances the shortfalls in the government’s budget. This is as the Federal Government spent N5.24tn servicing...
NNPC Discovers Oil In Nasarawa
The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state. It said the discovery was in continuation of its oil exploration activities in the country’s inland basins, adding that it would spud the first oil well...
Inflation Rate Under Buhari Not Highest In Nigerian History — Keyamo
Festus Keyamo, the spokesperson for the presidential campaign council of the All Progressives Congress standard bearer, Asiwaju Bola Tinubu, has said the inflation rate under President Muhammadu Buhari's administration is not the highest in the history of the country. The Senior Advocate of Nigeria, who appeared on Arise TV morning show on Monday, was responding to questions about what Buhari’s...
Ganduje Hits FG: World Bank, IMF Is Against Naira Redesign, You’re Defending It
Kano state governor, Abdullahi Umar Ganduje, has said the Naira notes redesign policy brought by President Muhammadu Buhari-led government is beyond a plot against any presidential ambition but targeted at truncating democracy. Ganduje, who spoke late Wednesday when he met with the Forum of Former Parliamentarians, North-west zone, who came to intimate him of their resolve to support the presidential...
El-Rufai Accuses Emefiele Of Introducing Naira Redesign To Help PDP Win Presidential Election
Governor Nasir El-Rufai of Kaduna State on Friday alleged that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele introduced the naira redesign policy to help the Peoples Democratic Party (PDP) win the 2023 general elections. “Emefiele was appointed Central Bank Governor by the PDP originally. So, let’s not forget where he came from,” El-Rufai said at a...
NSCDC Vows Clampdown On Fake Naira Notes Syndicates, Cautions Nigerians
The Nigeria Security and Civil Defence Corps (NSCDC) says it will continue to arrest and prosecute those involved in the production and circulation of fake redesigned Naira notes. The Commandant-General of the corps, Ahmed Audi, told the News Agency of Nigeria (NAN) on Sunday that the number of cases of circulation of fake Naira notes had become worrisome. He warned perpetrators...
Ghana Announces Removal Of Subsidy On Petroleum
The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country. The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector. The Chief Executive Officer of NPA, Abdul Hamid, said this during a presentation at the ongoing Africa Refiners and Distributers week 2023, in Cape Town, South Africa. Hamid...
Free Internet In Airports, Varsities, Markets To Gulp N24.2bn
The Federal Executive Council yesterday approved two contracts worth N24.20bn for provision of broadband for free internet in 75 public places, including 20 airports, tertiary institutions and markets nationwide to support micro, small and medium enterprises. The Minister of Communications and Digital Economy, Isa Ali Pantami, said the projects would be implemented by the Nigerian Communications Commission. He said the selected...
Relief As Air Peace Commences Direct Flight To India
West and Central Africa’s leading airline, Air Peace, has launched direct, nonstop flight services to Mumbai, the capital city of Maharashtra State in Southwestern India. The airline is starting with two weekly flight frequencies to Mumbai, with plans to commence Delhi operations as soon as the Mumbai service garners significant momentum. This direct, nonstop Mumbai service is a respite to Nigerians...
How Customs Intercepted N2.8bn Worth Of Contraband Goods In Owerri, Nabs 13 Suspects
The Federal Operations Unit, Zone ’C’, Owerri, of the Nigeria Customs Service intercepted contraband goods valued N2.8 billion between January 25 and March 25. The unit also arrested 13 suspected smugglers during the period. Acting Comptroller of the NCS in the zone, Mr Kayode Kolade, a Deputy Comptroller of Customs, made the declaration on Wednesday in Owerri when he addressed newsmen. He...
