Category: Finance

States receive ₦435bn from new FAAC infrastructure, security funds

State governments are receiving billions of naira through a relatively new Federation Account Allocation Committee...

FG borrowed ₦11.9tn in 31 months, says Oyedele

The Federal Government borrowed N11.9 trillion between June 2023 and December 2025, but says the...

States’ 2026 budgets rise 47.5% to ₦40.14tn

Nigeria’s 36 states and the Federal Capital Territory have increased their combined budgets by 47.5...

Gombe approves ₦148.762m monthly subvention for state university

Gombe State Governor, Muhammadu Yahaya, on Wednesday, approved an additional N148.762 million monthly subvention for...

FG spent N9.39tn on wage hike, allowances in 31 months – Oyedele

The Federal Government spent N9.39 trillion on wage adjustments, minimum wage increases and allowances for...

Naira holds steady at ₦1,350/$ in official FX market

The naira remained relatively firm against the United States dollar on Wednesday, August 19, 2026,...

Federal, states, LGs share ₦3.007trn July FAAC

The three tiers of government have shared N3.007 trillion as July 2026 revenue. The revenue...

60% of Africa’s trade costs stem from within — W’Bank

Africa’s biggest trade obstacles are occurring within countries rather than at the border, with about...

Student loan: How to apply for NELFUND

To apply for the Nigerian Education Loan Fund (student loan), applicants should visit the NELFUND...

NELFUND caps loan repayment at 10% of graduates’ monthly income

Repayment of loans obtained from the Nigerian Education Loan Fund has been capped at 10...

Enugu approves ₦32,000 minimum pension for LG retirees

The Enugu State Government has approved a new minimum pension of N32,000 for local government...

RMAFC completes review of Nigeria’s revenue allocation formula

The Revenue Mobilisation Allocation and Fiscal Commission has completed the review of Nigeria’s Revenue Allocation...