‘There is nothing wrong in states owing debt’
Mr Eyo Ekpo, the Governorship Candidate of Social Democratic Party (SDP) in Cross River, says there is nothing wrong in a state owing debt provided the money is properly invested.
The descent into another debt trap
THE announcement by the Federal Government in November last year that it borrowed N9.18tn in just 10 months should send a shock wave throughout the land. That amount is more than the budget for 2017 and even exceeds the 2018 recently presented to the National Assembly.
IEDI raises alarm over Imo’s N93.27bn debt
OWERRI—CAPTAINS of industry in Imo State, under the aegis of Imo Economic Development Initiative,IEDI, have raised the alarm over rising domestic debt of Imo State, which they allege has hit N93.27 billion.
IGR rises to N396bn, as states incur N4.2tr debt
LAGOS—IN an apparent reflection of increased economic activities mirrored by the country’s recovery from recession in the second quarter of the year, the Internally Generated Revenue, IGR, of 33 states has risen by 17 per cent to N397 billion, year-on-year in the first half of the year (H1 2017).
Anambra to spend N70 million monthly on debt servicing
he Anambra government has said it will spend between N60 and N70 million monthly to service its domestic and external debts.
Total debt rises to N20trn — DMO
THE Senate, yesterday, approved an external loan of $5.5 billion to enable the Federal Government finance the 2017 budget and refinance the foreign debts.
