Economy

The Federal Government spent a total of N609,134,926,039.42 in debt service between January and March, 2020. The data obtained from the website of the Debt Management Office, DMO, on Thursday indicated interest on NTBs stood at N111.605 billion; interest on FGN Bonds, N488.935 billion; FGN Savings Bonds debt servicing took N392.794 billion while; Rentals amounted […]

Organized Labour on Thursday rejected the new pump price of fuel announced by the Petroleum Products Price Regulatory Agency, PPPRA, and demanded immediate reversal, contending that the new price amid COVID-19 pandemic, will kill businesses and worsen poverty level across the country. This came as PPPRA defended the new price, saying it was not as […]

President Muhammadu Buhari has affirmed that the recently developed Economic Sustainability Plan, ESP, aimed at stimulating the economy amid the COVID-19 pandemic, will extend protection to very poor Nigerians and other vulnerable groups through pro-poor spending. A statement issued on Wednesday in Abuja by the Special Adviser to the President on Media and Publicity, Chief […]

President Muhammadu Buhari, on Tuesday, emphasised Nigeria’s commitment to the timeline delivery of the Ajaokuta-Kaduna-Kano (AAK) pipeline project, within projected budget. To this end, he had charged the partners in the project, including the Nigerian National Petroleum Corporation (NNPC), to keep focus on the target, reminding them that the AKK project was key to the […]

A combination of collapse in oil prices and the COVID-19 pandemic is expected to plunge the country’s economy into a severe recession, the worst since the 1980s, according to the latest World Bank Nigeria Development Update. The World Bank in statement, titled “Nigeria In Times of COVID-19: Laying Foundations for a Strong Recovery,’’ estimated that […]


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