President Muhammadu Buhari says the country’s debt profile is rising because the federal government had to spend its way out of recessions. Since Buhari assumed power in 2015, Nigeria’s economy has slipped into recession twice. The Debt Management Office (DMO) said Nigeria’s total public debt (federal and state governments) climbed to N35.46Continue Reading
As Nigeria continues to grapple with revenue shortfall and has gone borrowing to finance its huge budget deficit with debt service gulping as much as 98 per cent of its revenue, it has been revealed that 77 oil and gas companies operating in Nigeria are indebted to the country toContinue Reading
Six Nigerians have been named by the United Arab Emirates as financiers of terrorism including Boko Haram and other criminal activities. According to Agency Report, the decision was made when the Emirate federal cabinet met in the capital Abu Dhabi on Monday. The six Nigerians on the list are AbdurrahamanContinue Reading
Seven subsidiaries and business units of the Nigerian National Petroleum Corporation (NNPC) contributed a cumulative N56.177 billion to the national oil company’s total losses in April this year, latest financial and operations data from the corporation have indicated. A THISDAY review of the information released by the NNPC showed thatContinue Reading
Cocoyam contains rich nutrients to fight COVID-19 infection, a Federal Government agency said yesterday. Director-General of the Raw Materials Research Fund Development Council (RMRDC) Prof Hussaini Ibrahim listed the nutritional contents in cocoyam as digestible starch, good quality protein, Vitamin C, thiamin, riboflavin, niacin and high scores of proteins andContinue Reading
The People’s Republic of China weekend expressed its readiness to support Nigeria’s industrial growth especially in the area of automobile manufacturing. Chinese Ambassador to Nigeria, Mr Cui Jianchun, who spoke during a diplomatic fleet delivery by GAC Motor Nigeria and signing of a partnership agreement with the embassy in Abuja,Continue Reading
Morgan Stanley plans to ban people from entering its New York offices if they haven’t been vaccinated against COVID-19, according to a person familiar with the company’s plans. The policy will apply to employees and clients after July 12, and the system will rely on self-attesting. It’ll be enforced inContinue Reading
People who have had the Pfizer-BioNTech jab have lower antibody levels against the Indian Covid variant than those against other strains in the UK, new data suggests. The study also indicates that the level of antibodies against the strain lowers with increasing age and that they decline over time. ResearchersContinue Reading
Rivers State Governor, Nyesom Wike, has said that some of the gunmen responsible for the ambushes and murders of security personnel in the state have been arrested and will face the full wrath of the law. Wike in a state broadcast on Saturday evening said the state government had undertakenContinue Reading
The federal government turned down a request by state governors to borrow from the Central Bank of Nigeria (CBN) to augment the N50 billion federation account allocation committee (FAAC) shortfall in March. Zainab Ahmed, minister of finance, budget and national planning, said this while speaking on Good Morning Nigeria programme,Continue Reading
