The All Progressives Congress (APC) in Ekiti have disagreed with Governor Ayodele Fayose over the state’s N56bn debt profile by the Debt Management Office. In a statement by its Publicity Secretary, Taiwo Olatunbosun on Monday, the APC said Fayose was spending recklessly. What the APC said: The party accused Fayose of spending the money on needless... Read More

APC, Ayodele Fayose, borrow, deny, N56bn

November 14, 2017

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Senate approves Buhari’s $5.5bn loan request

The Senate has approved a $5.5 billion loan request by President Muhammadu Buhari. Background: Buhari had asked the upper chamber to approve the borrowing of $2.5 billion to finance the 2017 budget. He also requested to borrow $3 billion to refinance domestic debts. What is happening: On Tuesday, the senate’s committee on local and foreign debts presented its... Read More

The News Blog

$5.5bn, approve, borrow, loan, Muhammadu Buhari, senate

January 20, 2017

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Why we have no choice but to borrow – Adeosun

Minister of Finance, Kemi Adeosun has said oil prices are not returning to $110 per barrel, leaving Nigeria no choice than to borrow. Adeosun spoke at the 14th Daily Trust Dialogue in Abuja on the theme ‘Beyond recession: Towards a resilient economy’. Adeosun said the 2017 budget has a deficit of N2.36 trillion, which could... Read More

The News Blog

borrow, budget, Finance Minister, kemi Adeosun, nigeria

June 4, 2016

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‘Ambitious’ Wike gets the nod for another multi-billion naira loan

The Rivers State House of Assembly, on Friday, granted the request of Governor Nyesom Wike to borrow N12 billion from the Central Bank of Nigeria According to the Punch, the loan request was passed by the lawmakers after an extensive debate was done. Arguing for the loan request, members of the House pointed out that... Read More

The News Blog

approve, borrow, CBN, corruption, Governor, lawmakers, loan, request, Rivers State, wike

May 31, 2016

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Secret account, lavish living and other sins of Fayose… according to the APC

The Ekiti state All Progressives Congress (APC), on Monday, lambasted the state Governor, Ayodele Fayose for plunging the state into needless crisis, saying that Fayose’s governance was “an unconscionable and mindless treatment of Ekiti workers while Fayose enjoys lavish life”. This was contained in a statement signed by the Publicity Secretary of the state APC,... Read More

The News Blog

APC, borrow, debt, Ekiti, Fayemi, Fayose, PDP

February 3, 2016

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Nigeria requests for $1bn loan from AFDB

The African Development Bank has revealed that Nigeria has requested for a $1 billion loan to help fund the budget deficit. The federal government has revealed that it is considering borrowing as much as $5 billion to help fund a deficit due to the drop in global oil prices. According to Reuters, the bank disclosed that it was... Read More

The News Blog

borrow, economy, loan, nigeria

February 1, 2016

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FG hasn’t yet applied for loans from World Bank

Owing to the present state of the economy, speculations have been rife that Nigeria intends to borrow $3.5 billion in emergency loans from the World Bank and African Development Bank (AFDB). The purported loan is expected to help the country shore up the wide deficit in the 2016 budget. US-based news platform- Financial Times reported on... Read More

The News Blog

2016 budget, AfDB, borrow, economy, nigeria, World Bank

November 6, 2012

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TICKER: FG to borrow $9.3billion

The Federal Government has amended its borrowing plan for infrastructural development, reviewing its proposed debt profile up from $7.9bn to $9.3bn between 2012 and 2014. The government will source a total external loan of $9.3bn from this year to 2014 to develop infrastructure, particularly in the agricultural, housing, education, health and transport sectors. Minister of... Read More

borrow, FG

October 3, 2012

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TICKER: Nigeria’s debt rises, to borrow $25bn by 2015

The Federal Government is expected to borrow $25 billion by 2015, Nigeria’s Debt Management Office, DMO, told the House of Representatives yesterday. This disclosure was made at a meeting with the House Joint Committee on Finance, Legislative Budget and Research, National Planning and Aid, Loans and Debt Management scrutinising the 2013-2015 Medium Term Expenditure Framework... Read More

borrow, debt, nigeria

APC says Fayose borrowed N56bn and exploiting Ekiti people but he denies

Senate approves Buhari’s $5.5bn loan request

Why we have no choice but to borrow – Adeosun

‘Ambitious’ Wike gets the nod for another multi-billion naira loan

Secret account, lavish living and other sins of Fayose… according to the APC

Nigeria requests for $1bn loan from AFDB

FG hasn’t yet applied for loans from World Bank

Opinion: Tukur’s exit cannot save PDP from its impending death

TICKER: FG to borrow $9.3billion

TICKER: Nigeria’s debt rises, to borrow $25bn by 2015

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