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President Muhammadu Buhari may be among the very few Nigerians with the blood of nationalism running in their veins, but his Democracy Day pledge to lift 100 million citizens out of poverty over the next 10 years appears empirically doubtful going by the realities of the nation’s economic fundamentals.
The Ekiti State chapter of the Peoples Democratic Party National New Media Group (PDP-NNMG) has accused the State Governor, Dr. Kayode Fayemi, of plotting to plunge the State into another round of debt, disclosing that the governor was about taking N5 billion loan from a new generation bank.
Governor Emeka Ihedioha of Imo State says his predecessor, Rochas Okorocha, operated 250 bank accounts as opposed to the Treasury Single Account being implemented by the Federal Government and many other states.
Former Vice President Atiku Abubakar, has called on the Federal Government to halt the nation’s descent into another era of unsustainable domestic and foreign borrowings which he said has become the hallmark of the Muhammadu Buhari administration.
Nigeria’s total public debt rose to N24.947 trillion as at March 31, from N24.387 trillion as at December 31, 2018, growing marginally by 2.30 per cent, the Debt Management Office (DMO) said.
About 22 sectors capable of generating foreign exchange for the federal government in place of crude oil have been identified, the Executive Director, Nigerian Export Promotion Council (NEPC), Segun Awolowo, has said.
The Executive Director, Nigerian Export Promotion Council ( NEPC), Mr Segun Awolowo, says plans are on by the Council to raise 150 billion dollars revenue from sources outside the nation’s oil sector in the next 15 years.
The Federal Government has offered for subscription two-year savings bond at 11.19 per cent and three-year savings bond at 12.19 per cent per annum, the Debt Management Office (DMO) said.
Following media reports insinuating that the Federal Government has no plans to issue Eurobonds as part of its external borrowing in 2019, the Debt Management Office (DMO) on Wednesday clarified that there was no such foreclosure.
A statement from the Debt Management Office (“DMO”) on Thursday said: “The proceeds of the Green Bond will be used to finance projects in the 2018 Appropriation Act, which will contribute to Nigeria’s commitments to the Paris Agreement on Climate Change.”
The federal government has offered for subscription two-year savings bond at 11.41 per cent and three-year savings bond at 12.41 per cent per annum.
The Bayelsa State Government on Tuesday said the state remained the least indebted among other states in the South-South geopolitical zone.
The Rivers State Government has declared that the administration of Governor Nyesom Wike is not indebted to any Bank in Nigeria.
The long awaited results from the forensic audit into Oando PLC, was finally released on Friday, May 31, 2019 on the website of the Securities and Exchange Commission (SEC) indicating weighty infractions with attendant sanctions leveled against the Company.
The Federal Government of Nigeria (FGN), is set to issue a second Green Bond up to N15 billion following the successful debut Green Bond Issuance of N10.69 billion in December 2017 – by which Nigeria became the first African country to issue a Green Bond.
Finance Minister, Mrs. Zainab Ahmed, has revealed that the sum of N649 billion, the final tranche of the Paris Club Refund, is available to be shared by the 36 States of the federation.
Investors on the Nigerian Stock Exchange (NSE) on Wednesday reacted positively to the inauguration and assignment of ministers to various portfolios by President Muhammadu Buhari.
President Muhammadu Buhari on Wednesday in Abuja, cautioned new cabinet Ministers against unnecessary altercation while discharging their responsibilities.
The National Assembly Election Petitions Tribunal in Kaduna has dismissed the petition challenging the election of Senator Uba Sani as the lawmaker representing Kaduna Central Senatorial District at the National Assembly.
President Muhammadu Buhari has approved the appointment of aides for the Office of the First Lady, occupied by Hajia Aisha Buhari.
The presidents of Rwanda and Uganda on Wednesday signed an agreement in Angola to end months of tensions after the two leaders exchanged accusations of spying, political assassinations and meddling.
Pierre-Emerick Aubameyang believed Arsenal’s aim in the 2019-20 season will be to qualify for the Uefa Champion League and challenge for the Premier League title.
The Swearing-In of 35 commissioners of Lagos state is ongoing at the Adeyemi Bero hall, Alausa Ikeja.
The Depot Nigerian Army, Zaria, Kaduna State says it will begin its 2019 Annual Range Classification from Aug. 20 to Aug. 28 and advised residents to keep-off the range area.
Academic activities have fully resumed at the Federal University Wukari in Taraba State after two weeks break, following the protest by Tiv students over the killing of two of their members.
Immediate past Governor of Imo State, Rochas Okorocha, on Sunday cautioned against further attacks on his personal property by the state government.