Debt

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to a media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted revenues to the…

The Deputy Speaker of the House of Representatives, Benjamin Kalu, has expressed concern about Nigeria’s reliance on debt at 63 years of Independence anniversary. Speaking at a stakeholders’ dialogue on the implementation of…

Information has revealed that, millions of electricity consumers may be plunged into darkness in the coming weeks as the Federal Government through the Transmission Company of Nigeria and the Market Operator have began a massive…

The House of Representatives has approved President Muhammadu Buhari’s request for N819.54 billion domestic loan meant to fix the infrastructure destroyed by floods across the country. The approval followed the adoption of a report…

The total debts of 10 oil-producing states rose from N2.04tn in December 2015 to N3.35tn as of June 2022, according to sub-national debt reports of the Debt Management Office. This means that a total of N1.31tn was borrowed within a…

In his latest public delivery of incoherence, Bola Tinubu, the presidential candidate of the All Progressives Congress for the 2023 elections, says Nigerians against borrowings by the Buhari regime should stop using Mercedes Benz and Lexus…

The Federal Government has proposed to spend N4.5tn on interest charges for domestic debt by 2023, according to the proposed 2023 budget. This is an increase of 243.51 per cent from the N1.31tn proposed allocation for interest charges on…

President Muhammadu Buhari’s regime is looking to acquire funds from the International Monetary Fund (IMF) and is in talks with the World Bank to restructure the country’s debts. Finance minister Zainab Ahmed also disclosed plans to take…

The budgetary allocation to the Presidential Air Fleet has risen by 121 per cent in eight years. Findings indicate that the President, Major General Muhammadu Buhari (retd.) has since 2016 allocated N81.80bn for the Presidential Air…

President Muhammadu Buhari says Nigerians should appreciate massive borrowings by his regime because it provides resources to meet socio-economic needs of citizens. “While citizen concern about borrowing is well understood, our resort to…