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ECONOMY-FINANCE

Today's Headlines: Buhari Borrows N830 Billion from China; Tension In Ibadan as Road Transport Workers Clash

1: Buhari Borrows N830 Billion from China. The President Muhammadu Buhari-led administration has borrowed N830 billion ($2.02 billion) as loans from China since its inception in 2015. According to statistics obtained from the Debt Management Office, Nigeria’s total debt from China as of June 30, 2015, stood at $1.38 billion (N567 billion).

  7 months ago ago
Today's Headlines: Buhari Borrows N830 Billion from China; Tension In Ibadan as Road Transport Workers Clash

ECONOMY-FINANCE

Check out the total amount of money the Nigerian government is owing.

There has been a lot of debate in Nigeria in recent days, especially from the opposition party that the Buhari government is over-indebted. borrowing had always served as veritable financial platforms for many developing countries of the world in running their economies, on the condition of judicious use of loans for the intended projects.

  6 months ago ago
Check out the total amount of money the Nigerian government is owing.

POLITICS

Today's Headlines: 2023 Election Not For Youths - Saraki; Nigeria Serviced Debt With N1.47tn - DMO

2023: This is not time for you to win election, don’t contest – Saraki tells Nigerian youths Dr. Abubakar Bukola Saraki, a former President of the Nigerian Senate, has told youths nursing the ambition to run in the 2023 presidential election to shelve the idea.

  3 months ago ago
Today's Headlines: 2023 Election Not For Youths - Saraki; Nigeria Serviced Debt With N1.47tn - DMO

ECONOMY-FINANCE

FG uncomfortable exceeding borrowing limit – Minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal is extremely uncomfortable with the very fact that it exceeded the borrowing threshold within the Fiscal Responsibility Act. Ahmed, who spoke at the ongoing 27th National Economic Summit in Abuja on Monday, said the Federal Government planned to scale down borrowing in the coming years.

  3 months ago ago
FG uncomfortable exceeding borrowing limit – Minister

ECONOMY-FINANCE

To accommodate new loans, the Federal Government has increased the borrowing limit to N61 trillion

The Federal Government's new borrowing limit allows Nigeria's existing debt portfolio to grow from N33.11 trillion to N61 trillion. Nigeria has increased its borrowing limit from 25% to 40% of GDP, according to a document titled Medium Term Debt Strategy. This disclosure came as the Senate handed the Federal Government additional permission to borrow $8.33 billion and €490 million from outside sources.

  6 months ago ago
To accommodate new loans, the Federal Government has increased the borrowing limit to N61 trillion

ECONOMY-FINANCE

President Muhammadu Buhari Set To Borrow 5 Trillion In 2022

As Nigeria's debt profile continues to rise, President Muhammadu Buhari's government plans to borrow 5.62 million naira in 2022. This follows the approval of the Medium Term Expenditure Framework and the Fiscal Strategy Paper (MTEF/ FSP) by the Federal Executive Committee. Finance Minister Zainab Ahmed announced this after the council meeting chaired by Buhari in Abuja on Wednesday.

  6 months ago ago
President Muhammadu Buhari Set To Borrow 5 Trillion In 2022

POLITICS

Today's Headlines: Buhari' Borrowing, Not A Sin - Fashola, Suspected Land Grabbers Attack Woman

President Muhammadu Buhari's borrowing, according to Minister of Works and Housing Babatunde Fashola, is not a sin, justifying his administration's use of loans to expand Nigeria's infrastructure. Nigeria's national debt stock reached N33.107 trillion (about $87.239 billion) on March 31, 2021, according to the Debt Management Office.

  7 months ago ago
Today's Headlines: Buhari' Borrowing, Not A Sin - Fashola, Suspected Land Grabbers Attack Woman

PERSONAL-INVESTING

Today's Headlines: Buhari's Regime Borrows $2.02bn In Six Years, PDP Govs Drag Buhari Over Huge Debt

Buhari Regime Borrows $2.02bn From China In Six Years The data obtained from Debt Management Office (DMO), on Monday, shows that President Buhari's Administration has borrowed $2.02bn as loans from China within six years of ruling the nation. According to DMO, the loans the current administration collected from China are concessional loans with an interest rate of 2.5% per annum, a tenure of twenty years and a grace period of 7 years.

  7 months ago ago
Today's Headlines: Buhari's Regime Borrows $2.02bn In Six Years, PDP Govs Drag Buhari Over Huge Debt

POLITICS

Obasanjo Calls Out FG Over Incessant Borrowing

Report has it that Olusegun Obasanjo the Former President of Nigeria, said the idea of the Federal Government taking loans, is not a wise decision. According to Olusegun Obasanjo he said that during his tenure in the government, as the elected President of Nigeria, record as it that $3.5bn was spent to pay debts and even with that, the quantum of debt was not going down.

  4 months ago ago
Obasanjo Calls Out FG Over Incessant Borrowing

ECONOMY-FINANCE

Today's Headlines: FG Borrows $29m From Islamic Bank, Ex- South African President Sent To Jail

FG Borrows $29m From Islamic Bank President Muhammadu Buhari’s government has taken loans from about 10 international banks and agencies, including the Islamic Development Bank and the Arab Bank for Economic Development in Africa, plunging the country into a $17 billion multilateral debt crisis.

  7 months ago ago
Today's Headlines: FG Borrows $29m From Islamic Bank, Ex- South African President Sent To Jail

PERSONAL-INVESTING

Every Nigerian citizen could be owing approximately N200,000 as the country's debt skyrocket

The sad reality of the state of things at the moment in Nigeria is that, the country is neck deep in debt. The Debt Management Office (DMO) had put Nigeria’s Public debt at N32.915trillion as of December 31, 2020 which is the most recent statistics available.

  6 months ago ago
Every Nigerian citizen could be owing approximately N200,000 as the country's debt skyrocket

POLITICS

Today's Headlines: Senate Okays Buhari’s N2.343trn Request, Father Of 3 Jailed 20 Years

Photo Credit: Google Senate Okays Buhari’s N2.343trn External Borrowing Request. Photo Credit: Naija News The Senate has approved President Muhammadu Buhari’s request for the authourisation of N2.343 trillion ($6.183 billion USD) as External Borrowing in the 2021 Appropriation Act. This was just as it directed the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Director General of the Debt Management Office, Patience Oniha, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, to submit to the National Assembly within ten working days (excluding the day of close of trading), a letter containing the United States Dollars amount so raised and received as a result of the approval together with the applicable exchange rate.

  6 months ago ago
Today's Headlines: Senate Okays Buhari’s N2.343trn Request, Father Of 3 Jailed 20 Years

EDUCATION

Today's Headlines: FG commence repayment of China's Loan, Boko Haram Have Abducted 936 Students Since December 2020

FG Commenced repayment of China's loan Photo Credit: The Cable Rotimi Amaechi, minister of transportation, says Nigeria has commenced repayment of loans obtained from China. The federal government has sought loan facilities from Chinese lenders to implement several infrastructural projects, including standard gauge rail lines.

  7 months ago ago
Today's Headlines: FG commence repayment of China's Loan, Boko Haram Have Abducted 936 Students Since December 2020

POLITICS

Today's Headlines: Senate Approves Buhari’s N2.343trn Request, Senate Reveals N982.7bn Beneficiaries

Photo Credit: Google Senate Approves Buhari’s N2.343trn Request The Senate has approved President Muhammadu Buhari’s request for the authourisation of N2.343 trillion ($6.183 billion USD) as External Borrowing in the 2021 Appropriation Act. Photo Credit: PM News This was just as it directed the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Director General of the Debt Management Office, Patience Oniha, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, to submit to the National Assembly within ten working days (excluding the day of close of trading), a letter containing the United States Dollars amount so raised and received as a result of the approval together with the applicable exchange rate.

  6 months ago ago
Today's Headlines: Senate Approves Buhari’s N2.343trn Request, Senate Reveals N982.7bn Beneficiaries

POLITICS

Deji Adeyanju reacts to the Senate approval of N2.34 trillion loan

Human right activist Adeyanju Deji has taken to his Facebook page to react to the new development of the approval of N2.34 trillion loan for Buhari's government. The activist wrote on his page "Rubber stamp approves another N2.34 trillion loan for Buhari regime". The Debt Management Office has released Nigeria's Public Debt Stock as at March 31, 2021.

  6 months ago ago
Deji Adeyanju reacts to the Senate approval of N2.34 trillion loan

ECONOMY-FINANCE

Nigeria Is Borrowing Sensibly: Zainab Ahmed.

According to the Debt Management Office, Nigeria’s debt hit a total of N31 trillion by the end of June 2020.Between the month of May 2015 and June 2020, (five years under Buhari’s regime) Nigeria’s debts had increased by N18.9 trillion, which stood at 12.12 trillion at the time the Buhari led government came into power.

  5 months ago ago
Nigeria Is Borrowing Sensibly: Zainab Ahmed.

ECONOMY-FINANCE

Nigeria's Total Debt Profile and Where the Loans are Borrowed from.

The President have sought approval from the National Assembly to borrow over four billion dollars, $4,054,476,863.00, €710 million and a grant of $125 million. President Buhari has tabled a fresh request for the approval of another set of loans before the Senate. In a letter read by the Senate president, Ahmad Lawan, President Buhari explained that the loan sought is to finance critical projects in the 2021 budget.

  4 months ago ago
Nigeria's Total Debt Profile and Where the Loans are Borrowed from.

POLITICS

Reactions as Buhari Administration Borrows N830 Billion From China In Six Years

Muhammadu Buhari GCFR who is a Nigerian politician has been president of Nigeria since 2015. On 31 March 2015, former President Goodluck Jonathan called Buhari to concede and congratulate him on his election as president. Buhari was sworn in on 29 May 2015 in a ceremony attended by at least 23 heads of state and government.

  7 months ago ago
Reactions as Buhari Administration Borrows N830 Billion From China In Six Years

PERSONAL-INVESTING

"Nigeria Needs To Keep Borrowing Loans From International Communities" - Fashola

President Muhammadu Buhari The President Muhammadu Buhari led administration, has been heavily criticised by Nigerians over the incessant borrowing of loans from other developed countries like China, and international bodies like World Bank. According to the Debt Management Office (DMO), as at September 2020, Nigeria's bilateral and Multilateral Debts stood at 31.93 billion USD.

  7 months ago ago

ECONOMY-FINANCE

Over a six-year period, the Buhari administration allegedly borrows $2.02 billion from China.

According to statistics received on Monday from the Debt Management Office, President Muhammadu Buhari's administration has borrowed $2.02 billion in loans from China since 2015. On June 30, 2015, Nigeria's overall debt to China was $1.38 billion, according to data collected from the Department of Monetary Operations.

  7 months ago ago
Over a six-year period, the Buhari administration allegedly borrows $2.02 billion from China.