LAGOS DECEMBER 13TH (NEWSRANGERS)-The Federal Government of Nigeria is to benefit from a Five Hundred Million Dollar loan facility from the World Bank for the Human Capital Opportunities for Prosperity and Equity (HOPE) project in the country. The Honourable Minister of Budget and Economic Planning Sen. Abubakar Atiku Bagudu made this known during a courtesy…
LAGOS JUNE 9TH (NEWSRANGERS)-Nigeria plans to borrow 722.53 billion naira ($1.76 billion) from capital markets for additional security spending, Finance Minister Zainab Ahmed said on Wednesday. As part of Nigeria’s security spending, the World Bank also agreed to allow the government to restructure existing loans of 39.58 billion naira to supplement the funds, she told…
LAGOS MARCH 5TH (NEWSRANGERS)-The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court in Abuja “to restrain and stop President Muhammadu Buhari and the Federal Government from borrowing an estimated N895bn of Nigerians’ money in the form of their unclaimed dividends and balances in dormant accounts, under the guise…
LAGOS JANUARY 7TH (NEWSRANGERS)-Unclaimed dividends and bank account balances unattended to for at least six years will be available as special credit to the federal government through the Unclaimed Funds Trust Fund. According to the Finance Act 2020 recently signed into law by President Muhammadu Buhari, the trust fund will be a sub-fund of the…
LAGOS NOVEMBER 12TH (NEWSRANGERS)- Gov. Douye Diri has secured the approval of the Bayelsa House of Assembly to obtain N17 billion loan from multiple sources. The approval followed a motion moved on Thursday by the House Leader, Monday Obolo, (Southern Ijaw Constituency 2) and seconded by Charles Daniel, (Brass Constituency I). Diri had in three separate…
LAGOS MAY 31ST (NEWSRANGERS)-The vice-presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election and former Governor of Anambra State, Mr Peter Obi, speaks on the economic effects of the COVID-19 pandemic, the 2023 elections and other issues. Excerpts: How would you assess the way the Federal Government has handled the COVID-19 pandemic? The…
LAGOS NOVEMBER 24TH (NEWSRANGRS)-At current levels of over N25 trillion, it means that Nigeria has borrowed in three years more than it borrowed in 30 years previously, and the country to remain peaceful and get the economy working better, it must return to the basics of federalism, as the foundation of her national enterprise. A former…
LAGOS NOVEMBER 13TH (NEWSRANGERS)-The Federal Government borrowed a total of N2.32tn in 2017 to fund deficit in the budget, the Debt Management Office has said. DMO said this in its 2017 Annual Report obtained by our correspondent in Abuja on Monday. According to DMO, the total amount was borrowed from both the domestic and the…