The Debt Management Office (DMO) has reported that Nigeria’s total public debt stock increased to N42.84 trillion as of June, up from the N41.60 trillion it stood at the end of March this year. The latest figures represent an increase of N1.24 trillion in three months and reflected the challenge facing the fiscal authorities to […]
The National Bureau of Statistics (NBS), on Tuesday urged Nigerians and other stakeholders to support its ongoing National Agricultural Sample Census (NASC) aimed at producing a credible statistical data on agricultural and other critical socio-economic activities in the country. According to the Bureau, the survey, which is organized in collaboration with the Federal Ministry of […]
The Debt Management Office (DMO) on Thursday disclosed that Nigeria’s total public debt rose by 20.2 percent to N39.56 trillion ($95.77 billion) as at December 31, 2021, up from N32.92 trillion ($86.392 billion) in 2020. The Director-General of the Office, Ms. Patience Oniha, gave these figures at a media interactive session in Abuja, adding that […]
The Philippines Government may have alerted the World Bank on plans to draw from a $500 million catastrophe contingent line-of-credit it can receive through its Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4. The Philippines government had in November signed up to the $500 million catastrophe contingent line-of-credit. The financing facility is designed to provide […]
The House of Representatives has approved President Muhammadu Buhari’s loan request of $5.8 billion. The approval of the request followed the adoption of the report of the House Committee on Aids, Loans and Debt Management at Tuesday’s legislative plenary session. The Chairman of the Committee, Hon. Ahmed Safana, while presenting the report, said that the […]
The Centre for the Study of Economies in Africa (CSEA) has charged the federal and state governments on the need to ensure that borrowed funds are utilized for capital projects with great value-addition potential for the nation’s sustainable development. The economic research think-tank gave the charge in its ‘Nigeria Economic Update Issue 37’ sourced by […]
Nigeria is set to conduct the Multiple Indicator Cluster Survey (MICS6)/National Immunization Coverage Survey (NICS) with an inaugural meeting of the National Steering Committee virtually held yesterday. The task of the committee is to oversee the whole process of MICS6/NICS2020 to ensure that all activities concerning the survey are effectively carried out for a successful […]
The Office of the Auditor-General for the Federation (OAuGF) and the Federal Ministry of Finance Budget and National Planning have signed a Letter of Understanding (LoU) singalling the formal launching of the State Fiscal Transparency, Accountability and Sustainability (SFTAS) programme. The SFTAS is a $750m programme of the Federal Government to reward states for meeting […]
The Federal Government is expected to rake in about N6 billion from the concession of 20 silos in different parts of the country to private sector operators. The Minister of Agriculture and Rural Development, Audu Ogbeh, disclosed this to State House correspondents in Abuja after Wednesday’s Federal Executive Council (FEC) meeting, saying that the decision […]
The Federal Government has formally requested for the extension of the tenor of the World Bank-assisted $160 million job creation grant by 12 months due to its inability to fully implement the Growth and Employment in States (GEMS) projects. The objective of the GEMS project, which is being supervised by the Ministry of Finance and […]