LAGOS JULY 23RD (NEWSRNAGERS)-The Senate on Tuesday approved President Bola Tinubu’s external borrowing plan of over $21bn for the 2025–2026 fiscal cycle, paving the way for the full implementation of the 2025 Appropriation Act. The comprehensive borrowing package includes $21.19bn in direct foreign loans, €4bn, ¥15bn, a $65m grant and domestic borrowing through government bonds…
LAGOS MAY 15TH (NEWSRANGERS)-The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced the appointment of 12 banks as Primary Lending Institutions (PLIs) for the disbursement of the over $360 million Cabotage Vessel Financing Fund (CVFF). Daily Trust reports that the agency, had in 2023, appointed five banks as PLIs for the disbursement of the…
LAGOS DECEMBER 16TH (NEWSRANGERS)-Leaders of the West African regional grouping, Ecowas, have approved the withdrawal of three countries ruled by the military from the bloc, but have offered a six-month grace period for them to reconsider. Mali, Burkina Faso and Niger plan to withdraw from Ecowas in January after refusing the bloc’s demand to restore…
LAGOS JUNE 28TH (NEWSRANGERS)-President Bola Tinubu has approved an uplift grant under the National Construction and Household Support Programme for 3.6m Nigerian families. This initiative will deliver N50,000 to 100,000 families in each state for three months. The disbursement of the Tinubu uplift grant to families will occur over a three-month period, according to presidential…
LAGOS JUNE 16TH (NEWSRANGERS)-Nigerians have expressed concerns as the World Bank announced the approval of a new loan worth $2.25 billion for the administration of President Bola Tinubu. The World Bank tweeted on Thursday, June 13, that the loan had been approved and was meant to support President Bola Tinubu’s reforms in the country The…
LAGOS NOVEMBER 28TH (NEWSRANGERS)-The Federal Executive Council (FEC), yesterday, approved a total expenditure of N27.5 trillion for next year, endorsing the continuation of spurious appropriation benchmarks and unambitious public spending. Details of the appropriation may be laid before the National Assembly tomorrow. With the 2024 – 2026 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP),…
LAGOS SEPTEMBER 25TH (NEWSRANGERS)-The World Bank has approved a fresh $700m loan for Nigeria to enhance adolescent girls’ learning and empowerment. It disclosed this in a statement published on its website on Friday. The new loan is to provide additional funds for an ongoing project known as the Adolescent Girls Initiative for Learning and Empowerment….
LAGOS SEPTEMBER 22ND (NEWSRANGERS)-The Federal Government, through the National Salaries, Wages and Income Commission, has approved the payment of a newly approved percentage increment in salaries for academic and non-academic staff of all its tertiary institutions across the country, The PUNCH has learnt. This is as the percentage increment for junior staff of tertiary institutions…