Nigeria’s total debt in seven years outweighed the revenue generated by the Federal Government by N13.26tn,
The findings were based on data from the Central Bank of Nigeria and the Debt Management Office.
The Federal Government recorded revenue of N43.06tn between 2016 and 2022 as the country borrowed N56.32tn within the same period.
The debt included borrowing by the Federal Government and…
The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria.
The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN expanded in February, due…
Arla Foods, maker of Dano Milk has advised Nigerians to ensure a measured consumption of milk on a consistent basis as recommended by health experts.
The clarion call was made by the Dano Category Manager — Powder, Dominic Orimogunje, on the occasion of this year’s World…
The prices of imported used cars have spiked by 100 per cent in the last year, on the back of a tariff hike by the Nigeria Customs Service in 2022.
When our correspondent visited some of the car marts in Lagos, including Berger and Alimosho, it was observed that cars such as Toyota Corolla, Camry, and Honda Accord products were about N1m higher than their former prices before the Customs raised…
The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mele Kyari, on Thursday, allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, known better as petrol across the country.
The NNPC boss said competition among major…
The Central Bank of Nigeria has debunked the claim that it has devalued the naira.
A statement signed by Acting Director Corporate Communications, Isah AbdulMumin, said the dollar traded at N465/$1 contrary to reports.
The statement partly reads, “We wish to state…
United Bank for Africa Plc has revamped the UBA Alumni Network Programme, aimed at fostering stronger connections and providing exclusive benefits to its esteemed former employees.
According to the statement issued by the bank, in enhancing its initial promises, the revamped UBA Alumni Network now offers a broad range of advantages to empower ex-staff members.
UBA’s Group Managing Director…
First City Monument Bank has unveiled an innovative product called FCMB Airtime Advance, which allows customers to borrow funds from their bank accounts.
A statement from the bank said it allowed borrowings ranging from N200 to N5,000 directly from their bank accounts for…
Arla Foods, maker of Dano Milk, says it has inaugurated a state-of-the-art dairy farm in Kaduna State as part of the company’s efforts to ensure sustainable milk production in Nigeria.
According to a statement, the farm, located in Damau village, Kubau Local Government…
The Central Bank of Nigeria has partnered with Benson Idahosa University, Benin, Edo State, to deepen adoption of eNaira as a payment system and medium of exchange.
Branch Controller, CBN, Benin, Michael Mbeze, stated this during a three-day training of students of the institution on the application of eNaira.
Mbeze said that the eNaira, just like the physical Naira, was also an official legal…