In an apparent reflection of the multidimensional poverty in the country and the impact of continuous reduction in the purchasing power of Nigerians due to rising prices of goods and services, two-thirds of households in the country lack money to eat healthy, nutritious food, a survey by the National Bureau of Statistics, NBS has revealed. […]
The Senate on Thursday approved President Bola Tinubu’s loan request of $2.2 billion to partially finance the ₦9.7 trillion budget deficit for the 2024 fiscal year. The approval followed the presentation of a report by the Chairman, Senate Committee on Local and Foreign Debts, Aliyu Wamakko, during plenary. Presiding over the session, Deputy Senate President […]
Nigeria’s external debt may rise to $45.1bn by the end of 2024 as the Federal Government advances plans to secure additional external funding. The Debt Management Office revealed in its latest report that the country’s external debt stock increased by $780m in the second quarter of 2024, growing from $42.12bn in March to $42.9bn as […]
The Federal Executive Council on Thursday approved a $2.2bn external borrowing plan. This is part of the Federal Government’s external borrowing programme for the 2024 Appropriation Act, the Finance Minister, Mr Wale Edun, told State House Correspondents after the Federal Executive Council meeting at the Aso Rock Villa, Abuja. The financing initiative will combine Eurobond […]
The federal government has proposed N47.9 trillion as the total expenditure in the 2025 budget. Atiku Bagudu, the minister of budget and economic planning, told journalists on Thursday after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu. The approval is part of the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy […]
The Central Bank of Nigeria (CBN,) said it spent $3.57 billion servicing the country’s foreign debt in the first nine months of 2024. According to data obtained from the Central Bank of Nigeria (CBN) report on international payment statistics, the federal government debt service increased by 39.7 percent from the $2.56 billion spent during the […]
Approximately 37 per cent of employed Nigerians are now earning less than N100,000 per month in 2024, representing a 42 per cent increase from the 26 per cent recorded last year, according to the PiggyVest 2024 Savings Report. The report highlights a significant rise in those reporting no income or earnings below the N100,000 threshold. […]
Global food prices rose in October to their highest level in 18 months, with a sharp increase in the cost of vegetable oil, the Food and Agriculture Organization said on Friday. The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a […]
As food scarcity intensifies in Nigeria, the recently released Cadre Harmonisé report on food and nutrition insecurity indicates that 133.5 million Nigerians could be affected by a hunger crisis in 2025. According to a statement issued Thursday by the Food and Agriculture Organization (FAO), the report, led by the Government of Nigeria with support from […]
The National Bureau of Statistics (NBS) yesterday said Nigerians spend an average N10,239.7 on liquefied petroleum gas (LPG) cooking gas monthly. This was contained in its report titled: “Nigeria Residential Energy Demand-Side Survey (NREDSS), 2024, which the Statistician General of the Federation Adeyemi Adeniran launched in Abuja. The report also said 19.4 percent of households […]
