The Federal Government has borrowed a total of $4.95bn in loans from the World Bank in the past 12 months, pushing the total public debt to N101tn/ amidst worries about the increasing costs of servicing external debt. The nation’s public…
In a significant move to bolster Nigeria’s infrastructure and social programs, the World Bank has approved a series of loans totaling $2.7 billion for the West African nation. The administration of President Bola Tinubu has secured this financial package amid…
…To defend 2024 budget, borrowing plan at joint plenary session Nigeria’s President, Asiwaju Bola Ahmed Tinubu has again sought the approval of the National Assembly for fresh loans to the tune of $8.7billion and €100 million. In a letter to…
President Bola Tinubu has approached the Senate for the approval of another $7.8billion and €100million loans, barely 24 hours after seeking approval of the N2.18trillion supplementary budget. The request of the President was contained in a letter to the Senate…
In the spare of hike in borrowed costs, personal loans declined to N1.75trillion in the fourth quarter of 2022 from N1.85trillion in the previous quarter, according to the Central Bank of Nigeria (CBN). The CBN, in its economic report for…
The Nigeria Deposit Insurance Corporation (NDIC) has issued verification notice to depositors of Post Service Savings and Loans in-liquidation. The NDIC on its official Twitter handle on Saturday, said the verification was to effect payment of insured deposits to the…
By Abimbola Abatta Osun State Governor, Adegboyega Oyetola has approved the resuscitation of Vehicle Refurbishing Loans obtainable for various categories of public servants. This initiative is part of the commitment of the present administration to the welfare of workers in…
The outcry over borrowing in Nigeria has continued to generate traffic. The concern became more disturbing when it was revealed recently that over 90 per cent of the Country’s revenue now goes into debt servicing. Following the combined approval of…
