Business articles

Nigeria’s public debt hits N21.73tr, says DMO boss

Nigeria’s public debt hits N21.73tr, says DMO boss

Debt Management Office (DMO) Director-General Patience Oniha, speaking yesterday in Abuja on the country’s Debt Management Strategy (DMS), said the Federal Government’s domestic debt at the end of 2017 was N12.589 trillion. The 36 states and the Federal Capital Territory (FCT) have a domestic debt overhang of N3.348 trillion.   The combined external debt of

BREAKING: At Last Lagos Govt Reduces Land Use Charge

The Lagos State Government has reduced its Land Use Charge, this digital media can confirm. According to the state government, commercial fee charge is reduced by 50 percent, while owner occupier third-party fee is reduced by 25 percent and the owner-occupier fee charge is reduced by 15 percent. This was made known after the executive

US warns Nigeria over loans from China

The United States Secretary of State, Rex Tillerson, on Thursday warned African countries about receiving loan facilities from the Chinese government. Tillerson advised that loans from China should be weighed carefully and admitted that Washington was not trying to keep Chinese investment away from African continent. On Tuesday, Tillerson said China “encouraged dependency, utilised corrupt

Nigeria faces expulsion as global financial body meets today

Today is D-Day as Nigerians wait with bated breath for the outcome of the Egmont Group meeting which kicks off in Argentina to decide the nation’s fate. The question on people’s lips is will the decision be in favour or against Nigeria’s continuous membership of the global anti-graft agency? Asks Ibrahim Apekhade Yusuf A fortnight