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Amid N30trn budget deficit, Nigeria mulls debt refinancing, fresh funding
Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has disclosed that the Federal Government could turn to debt refinancing and fresh loans in order to bridge its huge budget deficit reaching N30 trillion this year. According…
GenCos reject FG’s N7trn resettlement plan, call for state of emergency in power sector
Federal Government’s debt owed to electricity generating companies (GenCos) have now reached N7 trillion, even as a planned resettlement option has been turned down by the operators, who insist on recovering their money. The GenCos have also called on government to…
Tinubu swears in new Power, Foreign Affairs ministers
President Bola Tinubu, Monday, swore in Mr. Joseph Tegbe as the new Minister of Power, as well as, Mr. Sola Enikanolaiye for that of the Minister of State for Foreign Affairs, at a brief ceremony which held at the Presidential Villa…
Court stops Akpabio, Abass over proposed N110bn vehicle procurement scheme for lawmakers
Federal High Court in Lagos has declared as unlawful the controversial National Assembly (NASS’) N110 billion vehicle and allowance schemes, ruling that the spending of N40 billion on 465 vehicles for lawmakers and N70 billion in support allowances for newly-elected…
FG slashes MDAs’ reimbursable imprest limits to curb spendings
Federal Government has introduced measures to manage spending across Ministries, Departments, and Agencies (MDAs) reducing reimbursable imprest limits and increasing oversight of public funds. The new directives are contained in the 2026 Annual General Imprest Warrant signed by the Minister of…
CBN’s new forex guidelines clears import of up to $10,000 without declaration
Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange (forex) Guidelines which provides that an individual can export $50,000 cash. The only condition, according to the Guidelines, released, Friday, is that such cash must be declared at the point of…
AIICO tops industry rankings, voted 2026 best insurance firm at prestigious Capital Market Awards
AIICO has been voted Insurance Company of the Year 2026 at the Nairametrics Capital Market Awards, emerging as the top performer among its peers in a category designed to recognise excellence across Nigeria’s insurance landscape. The Nairametrics Capital Market…
Algeria kicks off work at own section of $13bn trans-Saharan gas pipeline project
Algeria has officially kicked off work at its own section of the 4,100 km long Trans-Saharan Gas Pipeline (TSGP) project. The TSGP is a separate, competing 4, 128km pipeline project running through Niger and Algeria with an estimated cost of…
Service providers accuse FCCPC of violating court order on enforcement of DEON regulation
Fresh from securing a High Court order restraining the Federal Competition and Consumer Protection Commission (FCCPC) from enforcing the controversial Digital Economy and Online Lending (DEON) Consumer Lending Regulations, the Wireless Application Service Providers Association of Nigeria (WASPAN) has accused the…
NUPRC urges banks to support oil, gas operators
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on financial institutions to support operators in expanding domestic gas production. NUPRC’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, who said this whole receiving top executives of the Rand Merchant Bank (RMB), at the commission’s…
