Economy
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FG issues N590bn bond to settle N4trn debt owed to GenCos
The federal government has issued the first N590 billion bond under the presidential power sector debt reduction programme. The minister of power, Bayo Adelabu, recently said President Bola Tinubu had approved a N4 trillion bond to settle verified debts owed to power generation companies (GenCos) and gas suppliers. In a statement on Friday, the office of the special adviser to…
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Security tops 2026 budget as President Tinubu proposes N5.41trn allocation
By Kunle Sanni – President Bola Tinubu has proposed N5.41 trillion for security in the 2026 budget, marking the largest allocation across all sectors and continuing a three-year trend of prioritising defence and safety since his administration began presenting national budgets in November 2023. The president announced the figures on Friday while presenting the N58.18 trillion 2026 Appropriation Bill to…
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Debt service raises by 72% of FG revenue in 7 months 2025
The Federal Government spent nearly 72 per cent of its total revenue on debt servicing in the first seven months of 2025, highlighting the intensifying pressure Nigeria’s debt obligations are placing on public finances. An analysis of the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper released by the Budget Office of the Federation shows that between January and July…
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IMPI attributes 14% year-end inflation forecast to Tinubu’s economic reforms
The Independent Media and Policy Initiative (IMPI) has credited its forecast of a 14 per cent inflation rate by the end of 2025 to an in-depth analysis of President Bola Tinubu’s economic policies over the past year. In a statement signed on Thursday by its Chairman, Dr Omoniyi Akinsiju, IMPI said its analysts were able to refine their predictions using…
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Depositors’ reimbursement to receive major boost as NDIC, NIBSS set to sign MoU
The Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) Plc. are set to sign a Memorandum of Understanding (MoU) aimed at ensuring a more efficient process of reimbursement of depositors in the event of bank failure. This development was disclosed by the Managing Director/Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, during a courtesy visit…
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Lagos ports drive Nigeria’s export push as NPA records strong Q3 performance
Lagos ports have strengthened Nigeria’s export-focused economic agenda following a robust performance by the Nigerian Ports Authority (NPA) in the third quarter of 2025. Data released by the NPA showed that total cargo throughput rose to 33.52 million metric tonnes in Q3 2025, representing a 16.2 per cent increase from the 28.84 million metric tonnes recorded in the same period…
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Senate approves N54.46trn, fixes capital expenditure at N20.131trn for 2026 budget
The senate has approved N54.46 trillion for the 2026 budget as President Bola Ahmed Tinubu is set for the presentation of the Federal Government’s 2026 expenditure plan. The approval of the 2026 – 2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) was after the Senate in plenary granted approval on Tuesday. The lawmakers also pegged capital expenditure at…
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Akinsanya unveils N7.91bn 2026 budget to drive grassroots development in Igando-Ikotun LCDA
The Chairman of Igando-Ikotun Local Council Development Area (LCDA), Mr. Lasisi Akinsanya, has presented a proposed ₦7.91 billion budget for the 2026 fiscal year to the Legislative Council. The budget presentation took place at the council’s legislative chamber under heightened security and was witnessed by members of the executive council, legislative councillors, traditional rulers, community stakeholders, and council officials. The…
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Dangote petitions ICPC, demands NMDPRA CEO prosecution for alleged fraud
The chairman of Dangote Group, Aliko Dangote, on Tuesday petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC), demanding the arrest, investigation, and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Ahmed Farouk, over alleged corruption and abuse of office. In the petition through his lawyer, Ogwu Onoja, SAN,…
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Okpebholo presents N939.85bn 2026 ‘Budget of Hope, Growth’ to Edo Assembly
Edo State Governor, Sen. Monday Okpebholo, on Tuesday presented a ₦939.85 billion 2026 Appropriation Bill, christened the “Budget of Hope and Growth,” to the Edo State House of Assembly at a plenary session presided over by the Speaker, Rt. Hon. Blessing Agbebaku. Presenting the budget estimates, Okpebholo commended the Speaker and members of the Assembly for their cooperation and support,…
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