loan

Top 5 Stories Of The Day | Saudi Arabia Announces Start of Dhul Hijjah

Top 5 Stories Of The Day | Saudi Arabia Announces Start of Dhul Hijjah

Across Nigeria’s 36 states and the Federal Capital Territory, these are the top five Nigerian news stories you shouldn’t miss. Saudi Arabia announces start of Dhul Hijjah Saudi Arabia has confirmed the sighting of the crescent moon, marking the beginning of Dhul Hijjah, the final month of the Islamic lunar calendar. According to a Tuesday... Read More

Dhul Hijjah, el rufai, entertainment, information, loan, News, sallah

Top 5 Stories of The Day | Nigeria's Debt to World Bank Set to Hit ₦9.2 Billion as FG Considers Six New Loans

February 26, 2025

Top 5 Stories of The Day | Nigeria’s Debt to World Bank Set to Hit ₦9.2 Billion as FG Considers Six New Loans

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss. Nigeria’s debt to World Bank set to hit ₦9.2 billion as FG considers six new loans The Federal Government is expected to request six additional loans worth $2.23 billion from the World Bank in 2025... Read More

chinese, economy, EFCC, INEC, inflation, information, loan, News, Politics, World Bank

National Assembly approves of emergency rule, Tinubu applauds their efforts Ibok-Ete Ibas assumes the role of sole administrator in Rivers State, demands civility Nigerian passport rises in global ranks, secures 91st position Atiku announces coalition of parties against 2027 general election Minister of Interior reveals that FG pardoned 4,000 prisoners, saving ₦1 billion on feeding Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn't miss. National Assembly approves of emergency rule, Tinubu applauds their efforts The National Assembly has approved President Bola Tinubu’s request to impose emergency rule in Rivers State, leading to the dissolution of the state government and the appointment of a sole administrator for a six-month period. In response, President Tinubu expressed appreciation to the National Assembly for what he described as a “patriotic decision.” His comments were shared in a statement released by his special adviser on information and strategy, Bayo Onanuga. “The situation in Rivers State had reached a critical point, posing a serious threat to essential oil and gas infrastructure security. This instability risked undermining the national economy and jeopardising the progress achieved through the reforms implemented since our administration began in May 2023,” Tinubu stated. Ibok-Ete Ibas assumes the role of sole administrator in Rivers State, demands civility Ibok-Ete Ibas, the sole administrator of Rivers State, has warned that his administration will not allow anyone to disrupt the peace and stability of the state. Speaking in a state-wide address from Port Harcourt, the state capital, Ibas said there would be no place for disorder under his leadership. He explained that his main goal is to bring back law and order while creating the right conditions for democracy to return to the state. “Let me be clear, under my leadership, people’s rights and freedoms will be respected and protected. The rule of law will be strictly followed,” Ibas said. Nigerian passport rises in global ranks, secures 91st position Nigeria has climbed one spot to 91st place in the latest global passport ranking out of 199 countries. While this marks a small improvement in the country’s global standing, travel remains challenging for Nigerian citizens, as visa-free access is still limited to 45 countries, the same as last year. According to the Henley Passport Index for 2025, Nigeria shares the 91st position with Ethiopia and Myanmar, both of which are dealing with conflicts involving armed groups. Atiku announces coalition of parties against 2027 general election Former Vice President Atiku Abubakar has announced forming a coalition to remove President Bola Ahmed Tinubu from office in the 2027 elections. Speaking at a meeting of key opposition leaders in Abuja, Atiku made the declaration during a press conference attended by several opposition figures, including former APC members who have defected. When asked if this new coalition would serve as the main opposition against the APC in 2027, Atiku responded, “Yes, this marks the beginning of the opposition coalition ahead of 2027.” Minister of Interior reveals that FG pardoned 4,000 prisoners, saving ₦1 billion on feeding The Minister of Interior, Dr. Olubunmi Tunji-Ojo, has announced that the Federal Government released over 4,000 inmates from correctional facilities as part of efforts to reduce overcrowding, saving ₦1 billion in feeding costs. Tunji-Ojo explained that many of those released had been jailed over minor fines, and the initiative ensured their swift freedom. “Last year, just over 4,000 inmates were released in one day. We conducted a detailed analysis and found that many inmates were there due to petty fines. This project allowed us to release over 4,082 inmates, saving the government ₦1 billion in feeding costs,” he stated.

Top 5 Stories Of The Day | Nigerian Passport Gains Visa-free Access to 45 Countries in Global Ranking, Rises to 92nd

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss. Nigerian passport gains visa-free access to 45 countries in global ranking, rises to 92nd The Nigerian passport has slightly improved globally, rising to 92nd among nations with visa-free access to other countries. According to a... Read More

Bobrisky, economy, information, loan, NCS, News, nigerian passport, Politics, TETFund, Visa-free countries

August 18, 2023

FG’s N5bn Subsidy Removal Palliative To States Revealed to be a Loan; Tobi Amusan Cleared of Anti-Doping Violation by AIU | 5 Things That Should Matter Today

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss FG’s N5bn Subsidy Removal Palliative To States Revealed to be a Loan In a strategic move aimed at mitigating the repercussions of the removal of petrol subsidy, the federal government has extended financial assistance to states... Read More

November 5, 2020

Nigeria’s debt profile is a problem for the country’s future

Like many third world countries, Nigeria is enmeshed in a mountain of debt to financing corporations and international finance agencies. The latest news about what has now become Nigeria’s loan-taking culture is about a proposed $1.2 billion agricultural loan to be taken from Brazil. There have been mixed reactions, with many Nigerians criticising the government... Read More

Debt profile, loan

CBN

Wilfully defaulting on your loans is no longer an option, thanks to this new CBN directive

Nigeria has a serious debt problem. It is such a pervasive problem that families will not invest in the businesses of their family members, banks refuse to give loans without collateral and there is an unhealthy amount of distrust when it comes to financial matters. This has persisted largely because there were no instruments to... Read More

Counter Culture Blog

BVN, CBN, Defaulters, loan

Payday Loan: The Power of Now

Yomi, dropping his phone slowly on the table, changed the voice control to a loudspeaker and continued to type slowly on his laptop. His step-brother, Gbade, had just called to inform him of the final installment of N100,000 as school fees, which has to be paid before his exams scheduled to start the following week.... Read More

Access Bank, loan

November 15, 2017

Instead of taking loan, FG should recover $21.7bn from NNPC – Falana

Human right lawyer, Femi Falan has urged the Federal Government to recover unremitted funds from the Nigerian National Petroleum Corporation (NNPC) rather than borrowing. He spoke on Wednesday in Lagos at a national seminar on Promoting Transparency and Accountability in the Recovery of Stolen Asset in Nigeria: Agenda for Reform organized by Socio-Economic Rights and Accountability Project (SERAP)... Read More

$21.7bn, femi falana, FG, loan, nnpc, recover

November 14, 2017

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

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

October 20, 2017

The Late 5: Buhari’s proposed $5.5bn loan could take up to 30 years to repay, FG releases N3.5bn for vaccination programme, and other top stories

Good evening. Here are the top 5 stories that drove conversation today: It’s President Muhammadu Buhari’s second day in Turkey where he is attending the D-8 Summit and, as you’d expect, is doing whatever he can to portray Nigeria in the best light. In a statement, President Buhari outlined how he plans to make Nigeria... Read More

Featured, The News Blog

loan, Muhammadu Buhari, North Korea, rail project, The Late 5, Turkey, united states

October 20, 2017

$5.5bn loan: It may take 30 years to repay – Adeosun

Minister of Finance, Kemi Adeosun has said it may take five to 30 years before the $5.5 billion being sought by President Muhammadu Buhari can be repaid. Background: Buhari had written a letter to the National Assembly seeking approval to borrow $5.5 billion. The President said $3 billion would be used to service domestic debts while $2.5... Read More

$5.5bn, 30 years, kemi Adeosun, loan, repay

October 14, 2017

21,870 Kaduna teachers fail primary 4 test | The 5 numbers that mattered this week

$5.5 billion – President Buhari wrote to the Senate seeking approval for an external loan worth this amount. The fund will be channelled towards funding capital projects in the 2017 budget. 21,780 – About this number of primary school teachers in Kaduna took a primary 4 test and failed. N2.1 billion – An interim report... Read More

Featured, The News Blog

boko haram, kaduna, loan, Patience Jonathan, president buhari, primary school teachers, senate

August 10, 2017

Group defrauding entrepreneurs with loan empowerment scam – FG

The Federal Ministry of Industry, Trade and Investment on Thursday said a faceless group was defrauding entrepreneurs under the guise of assisting them with loans. Special Adviser on Media to the Permanent Secretary in the ministry, Babajide Iletogun, said the group is operating through a scheme tagged, “Federal Government 2017 empowerment loan for entrepreneur (Nation... Read More

defarud, empowerment, entrepreneur, FG, loan, scam

Skye Bank seeks to take over Omokore’s assets

The management of Skye Bank Plc is planning to take over some oil wells belonging to Jide Omokore, who is involved in some corruption cases, TheCable reports. The bank said Omokore is indebted to it to the tune of about N110bn at an exchange rate of $1/N315. The loans were said to have been obtained... Read More

assets, Jide Omokore, loan, nnpc, oil wells, Skye Bank

Etisalat to 9Mobile: How did it go from boom to burst, to new beginnings?

by Alexander O. Onukwue It began with zipped green lips, that gradually became unzipped, and was unveiled to us as the Naija Network. Etisalat, from day one, looked like it was going to be different from the existing mobile telecommunications networks that were in existence in the country. There was a targeted appeal to the... Read More

Story of the day, Thinking Through

9Mobile, departure, etisalat, loan, transition

Need a loan to start a business or project as a Corper? Apply for Credit Direct ”EmpowerTheCorp” loan today

Every year, hundreds of thousands of Corp members complete the mandatory one year service to the nation and set out to add value to the society and create the life of their dreams. Some of these young, brilliant and enterprising Nigerians get gainfully employed, while others start their own enterprises. However, due to the high... Read More

corper, Credit Direct, EmpowerTheCorp, loan, nigeria, nysc

‘Court freezes all bank accounts of NDDC boss’

by Azeez Adeniyi A Federal High Court in Uyo has ordered the freezing of all accounts and forfeiture of a property belonging to Nsima Ekere, the managing director of the Niger Delta Development Corporation (NDDC), The Trent reports. Ekere who was a former deputy governor of Akwa Ibom State, had defaulted on a credit facility... Read More

court, freze accounts, loan, NDDC boss, Nsima Ekere

N541.8bn loan, 37 deportees | The 5 numbers that mattered this week

N541.8bn – Three Nigerian banks set to take over telecommunications company, Etisalat for its failure to pay a loan obtained in 2015. 500,000 – The number of jobs to be created by the Lagos-Ibadan railway line project when it is completed in December 2018, according to Vice President Yemi Osinbajo. 37 – The number of... Read More

Featured, The News Blog

AGF, Deportees, Edo state, etisalat, Italy, loan, MMIA, numbers that mattered, Peace corps, railway line, widows, Yemi Osinbajo

February 21, 2017

Nigeria will not seek IMF loan – Adeosun

by Dolapo Adelana Finance minister, Kemi Adeosun has said Nigeria will not apply for an International Monetary Fund (IMF) loan as it is pursuing its own economic reform plan. Adeosun disclosed this during an interview with CNBC, which was aired on Tuesday. “For us the IMF is really a lender of last resort when you... Read More

economy, IMF, kemi Adeosun, loan, nigeria, World Bank

February 18, 2017

N40m wildlife feeding budget, $2.5bn loan | The 5 numbers that mattered this week

N40 million – The amount of money set aside in the 2017 National Budget for feeding and maintenance of wildlife in Aso Rock Presidential Villa. N775 million – The Federal Government has released this amount for the Enumeration Area Demarcation exercise in preparation for the 2018 census programme according to the Chairman of the National... Read More

Featured, The News Blog

2018 census, debt, loan, national budget, numbers that mattered, wildlife maintenance, World Bank

January 13, 2017

Paris Club loan: FG refunds N388.3bn to states

The Federal Government has effected the payment of about N388.3 billion to 35 states as refund of the Paris Club loan over deductions. This action is in line with helping states fulfil their financial obligations due to the economic recession. This figure is different from the budget support facility the states have received on a... Read More

FG, loan, N388.3bn, paris club, refunds

December 9, 2016

‘FG not interested in IMF loan’

The Federal Government says it is not sourcing any loan from the International Monetary Fund (IMF). James Akpandem, media adviser to the Minister of Budget and National Planning, Udo Udoma made the clarification on Friday in Abuja. Akpandem said contrary to reports in a national newspaper the minister did not mention that the country was... Read More

FG, IMF, James Akpandem, loan, Udo Udoma

December 8, 2016

Kaduna lawmaker in loan scandal

Details have emerged on how the lawmaker representing Kaduna North Federal constituency in the National Assembly, Honourable Samalia Suleiman borrowed the sum of N130m to offset a N122m loan he got from the United Bank for Africa (UBA). In a letter dated May 10, 2016, the lawmaker 35-year-old lawmaker requested a N130m loan facility to... Read More

Cover Stories, Featured, The News Blog

gtb, Hon. Samaila Suleiman, Kaduna lawmaker, loan, N122m, N130m, UBA

November 7, 2016

Why Iyanya dumped Ubi Franklin’s MMMG label + more on The Slab with Isime

Chuks Okpani, Roqeebah Olaoniye, Ezinne Ajoku and Tolu Omoyeni join Isime Esene on The Slab this week to talk about Iyanya’s move to Mavin Records, Lagos government employing university graduates as bus conductors, and Senate’s ‘rejection’ of Buhari’s $29.9 billion loan application. “What I feel about the whole thing is that he has gotten to a... Read More

Akinwunmi Abode, Don Jazzy, graduates, Iyanya, lagos, loan, MMMG, nigeria, senate, The Slab With Isime, Ubi Franklin

November 5, 2016

Pius Adesanmi: So something positive and sensible can come out of Nigeria’s National Assembly?

by Pius Adesanmi. I just heard with one ear that Senate has rejected President Buhari’s request for permission to borrow $30 billion. Eda o l’aropin o. So something positive and sensible can ever come out of Nigeria’s National Assembly? Allah be praised. In principle and in ideology, I am opposed to the philosophy of domestic... Read More

Buhari, corruption, dino melaye, legislature, loan, national assembly, nigeria, opinion, Pius Adesanmi, senate

Opinion: In Rivers state, the misery is now complete

by Chris Finebone When a governor decides to use expected dividend earnings of his State as collateral security for borrowing as in the case of the N9b Zenith Bank loan secured with Rivers State Government expected dividend from Indorama Petrochemical Company, then you can imagine that the people and their offsprings are all in a ONE... Read More

9 billion, loan, nigeria, opinion, PDP, Port Harcourt, Rivers, wike

CBN to give N3m loan to NYSC members

The Central Bank of Nigeria of Nigeria has disclosed that it set aside N2.5 billion loan for members of the National Youth Service Corps with profitable business ideas. According to the apex bank, the money was set from the N220 billion Micro, Small and Medium Enterprises Development Fund and that it would be given to corp members... Read More

Featured, The News Blog

Business, CBN, certificate, corp, entrepreneurship, loan, nysc

General Electric to invest over $2bn in Nigerian railway sector

The Minister of Transport, Rotimi Amaechi, on Wednesday, disclosed that General Electric (GE) plans to invest $2 billion into the Nigerian railway system. The Minister stated this during an interview with CNBC in Abuja. He noted that government was working to secure Public-Private Partnership (PPP) to help fund the country’s transport sector. Amaechi also said the... Read More

Featured, The News Blog

Amaechi, China, GE, Invest, loan, nigeria, rail way, transport

Simon Utsu: How to identify a young, wicked sadist

by Simon Utsu Any young man/ woman who gloated(or is still gloating) over Senator Ben Murray Bruce’s political travails in the hands of AMCON, is a young, wicked sadist. Before I’m called me an extremist, let me throw some more light on the above. Long before Kennis Music (the Ogungbe brothers and D1) came on... Read More

AMCON, Ben Bruce, loan, majek fashek, MBGN, nigeria, nike oshinowo, Ras Kimono, Regina Askia, Silverbird, simon utsu

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