Presidential panel reveals Nigeria spends 50% of revenue on debt
Nigeria now spends less than 50% of its revenue on debt servicing, down from 97%, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.
Business and Economy
GenCos oppose reduction of Enugu’s Band A electricity tariff o N160/kWh
This tariff issued by EERC has set a precedent, only ₦45 naira is captured for generation cost out of ₦112
High fertiliser prices force farmers to abandon rice, maize farming
You can’t buy a bag of fertiliser with the same amount you sell a bag of maize.
Oil price slump: Fresh threats loom for Nigeria
Setting an overestimated benchmark inflates the deficit beyond the 4% legal limit
FG, states, LGs share N1.818 trillion as June FAAC revenue rises 10%
The Federal Government received N645.4 billion, States N607.4 billion, LGs N444.9 billion, and oil-producing states got N120.8 billion as derivation.
Muhammadu Buhari failed to build a better Nigeria, says the Economist
Former Nigerian president Muhammadu Buhari failed in his two attempts to transform Nigeria, according to The Economist.
Electricity subsidy soars by 220%, nears N2 trillion
Federal Government paid only ₦371.34 million, 0.019 per cent settlement
FG secures new $500m World Bank loan to boost electricity sector
So, clearly, it’s a major step that we have taken. And we will begin to see improved, reliable and steady power supply to Nigerians
Electricity subsidies soar to decade high despite tariff increase
Nigeria’s electricity subsidy bill skyrocketed to a historic ₦1.94 trillion in 2024
Trump warns 100% tariffs on Russia, vows to arm Ukraine
U.S. President Donald Trump on Monday warned Russia of steep economic consequences if it fails to reach a ceasefire agreement with Ukraine within 50 days.