By SOLA SHITTU WHEN President Bola Tinubu’s administration announced the approval of a staggering ₦4 trillion debt refinancing package for the power sector last week, it was framed as a bold effort to stabilize a struggling industry. The debts owed to generation companies (GenCos) between 2015 and 2023 had long threatened the survival of operators […]
By JOSEPH CHIBUEZE THE Federal Government has unveiled a new strategy it hopes will help it better manage its public debts. The new strategy, the Medium-Term Debt Management Strategy (MTDS) 2024-2027 succeeds the elapsed MTDS 2020-2023. MTDS is a Public Debt Management (PDM) tool that links borrowing with the macroeconomic framework of a country to […]
FRESH details have emerged on the official earnings of Nigeria’s top political office holders, following data released by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and corroborated by other government sources. The figures, which cover salaries and allowances for key executive, legislative, and judicial officials, provide insights into the cost of governance in Africa’s […]
THE Federal Government is currently discussing a loan funding of $238 million from the Japan International Cooperation Agency (JICA) to expand Nigeria’s national electricity grid network, especially the transmission segment of the power value chain. This was part of the outcome of deliberations at the just-concluded Ninth Tokyo International Conference on African Development (TICAD 9) […]
DESPITE multibillion-dollar investments in rice mills to boost local processing and production, many mills are closing or producing below capacity due to many reasons, as revealed in this piece. The Nigerian rice economy was worth an estimated ₦2.5 trillion in 2018, growing from ₦1.1 trillion in 2016, according to KPMG market analysis. According to the […]
By FORTUNE ABANG THE International Institute of Experts on Political Economy and Administration (IIEPEA) has underscored the need for collective commitment by the citizenry toward bolstering political decisions and economic strategies globally. Executive President of the IIEPEA, Dr. Tunji Asaolu, disclosed this at a one-day 2025 Political and Leadership conference on Friday in Abuja. The […]
By GRACE ALEGBA THE National Institute of Credit Administration (NICA), Chartered, and the National Credit Guarantee Company (NCGC) have called on financial institutions and other stakeholders to collaborate in entrenching a robust credit culture in Nigeria. They made the call on Friday at a sensitisation seminar organised by NICA in Lekki, Lagos. The two-day event […]
By JOSEPH CHIBUEZE, Abuja The Debt Management Office (DMO) is offering the ₦200 billion Federal Government of Nigeria (FGN) bonds in August for subscription by auction. The DMO, in a statement posted on its official website yesterday, announced that the auction would take place on Monday 25 August 2025, with settlement fixed for Wednesday 27 […]
By BUKOLA ARO-LAMBO NIGERIA’S external reserves have surged to $41 billion, marking the highest level in four years and signalling a promising boost for the country’s economic stability and currency strength. According to the latest data released by the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves stood at $41.046 billion as of 20 […]
TRAXPORT Rail Services Ltd has signed a Technical Support and Investment Agreement (TSIA) with Belgian rail operations and management company, Vecturis, marking a major milestone in Nigeria’s rail transport transformation. The agreement underscores Vecturis’ commitment to building a modern, efficient, and sustainable freight rail system in West Africa, with Nigeria at the forefront. Through the […]