Nigeria will need 15 years to transform economy – World Bank VP
The World Bank says that Nigeria must sustain its current economic reforms over the next 10 to 15 years to position itself as a leading global economic power, not only in sub-Saharan Africa but worldwide.
Nigeria raises $1.25b Eurobonds
By Emma Ujah, Abuja Nigeria, yesterday, raised a $1, 25 billion Eurobond in the International Capital Market. A statement by the Debt Management, last night indicated that the Eurobond had a seven-year tenor and singled out Nigeria as the first African nation to access funds from the International Capital Market, in 2022. The statement read: […]
Nigeria’s public debt up 20.2% to N39.56trn
By Emma Ujah, Abuja Nigeria’s total public debt rose by 20.2 percent to N39.56 trillion ($95.77 billion) as at December 31, 2021, up from N32.92 trillion ($86.392 billion) in 2020, the Director-General (D-G) of the Debt Management Office (DMO), Ms. Patience Oniha, has stated. Oniha disclosed this at a media interactive session in Abuja, yesterday, […]
$195m Deep Blue contract attracted $19.5m mgt fee — NIMASA DG
By Levinus Nwabughiogu The Director-General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh, revealed yesterday that the $195 million Deep Blue contract attracted a management fee of 10 percent, which is $19.5 million. Jamoh was responding to questions on the actual cost of the project awarded to HLS International Company, raised by the […]
IMF warns of soaring food prices, says poor nations to be hit hardest
By Emma Ujah, Abuja Global food prices are poised to keep climbing even after jumping to a record high in February, 2022, the International Monetary Fund (IMF) has said. The world body, in a blog, yesterday, warned that poor nations of the world would be hit hardest by the impending food crisis, occasioned by the […]
Nigeria’s import bill on used vehicles rises 12% to N617.5bn
By Elizabeth Adegbesan Nigeria’s spending on importing used vehicles rose by 12.6 per cent to N617.48 billion in 2021from N548 billion in 2020 on the back of reduction in import duty on used vehicles. Vanguard’s findings from the National Bureau of Statistics (NBS) Foreign Trade data in Goods Statistics report showed that the import bill […]
