High cost of borrowing: FG targets domestic market to fund N9.05trn budget deficit
The apparent high cost of borrowing internationally, following the massive fall in the value of the naira, may have forced the federal government to reverse its borrowing plan to fund the N9.05trillion deficit budget from the domestic financial market as indicated in the Medium Term Expenditure Framework, MTEF, 2024-2026, released at the weekend. The FG […]
Nigeria’s Foreign Debt Service Up 18% Year-on-Year to $2.56bn
Debt servicing has continued to constitute a major threat to Nigeria’s economy as the Central Bank of Nigeria (CBN) disclosed that it has spent $2.56 billion to service the federal government’s foreign debt obligations in nine months of 2023. This represents 18 per cent Year-on-Year (YoY) increase from $2.17 billion in nine months of 2022. […]
Central Bank: Money Supply Increased to N66.42trn in September
The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s money supply increased to N66.42 trillion in the month of September 2023, a marginal growth of about 1.94 per cent from N65.15 trillion in August 2023. The figures come from the latest data released by the CBN as captured in its money and credit statistics. […]
Without subsidy, most Nigerians can’t afford cost of electricity –DisCos
The Association of Electricity Distributors of Nigeria (ANED) has said that without electricity subsidy, most Nigerians will not be able to afford the actual cost of power supplied them. This was even as it said that the Federal Government will continue to pay electricity subsidy until the industry is fully mature and attains a status […]