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Reforms attract over $10bn investment in upstream oil

  • 10th April 2026

FG begins assessment of $200bn integrated infrastructure proposal

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CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown

CBN warns banks against excessive risk-taking after recapitalisation

  • 10th April 2026

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Tag: FG

Power crisis worsens as National grid collapses again
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FG’s debt to Egbin Power hits N1.6tn, Senate steps in

The Senate Committee on Privatisation has committed to addressing the ₦1.6 trillion debt owed to Egbin Power Plc by the Federal Government. Egbin Power is one of Nigeria’s largest power generation companies. Recall that In March, the Chief Executive Officer of Egbin Power Plc, Mokhtar Bounour, revealed that the Federal Government owed the GenCo ₦1.4 […]

Nigeria to phase out diesel, embrace hybrid energy — Shettima
News

FG secures $1.27bn in capital from BRICS countries – Shettima

Vice President Kashim Shettima has revealed that Nigeria attracted $1.27 billion in foreign capital from BRICS countries by June 2024, a significant increase from the $438.72 million recorded during the same period in 2023. The BRICS bloc, which includes Brazil, Russia, India, China, and South Africa, has expanded to include newer members such as Iran, […]

News

PCNGI, unions partner for discounted hybrid CNG bus routes

The Presidential Compressed Natural Gas Initiative in collaboration with key transport unions, has launched a partnership to introduce hybrid high-capacity CNG buses in Abuja. This initiative, facilitated by the Federal Ministry of Transport, involves unions like NARTO, RTEAN, and NURTW. The goal is to provide affordable, environmentally friendly transportation with discounted fares on selected routes. […]

News

$500M W’Bank loan to benefit 25 Nigerian states

The newly approved $500 million World Bank loan will benefit at least 25 state governments, aimed at improving water resource management for hydropower and irrigation. On Tuesday, the Federal Government, through the Ministry of Water Resources and Sanitation and the Ministry of Power, signed a Memorandum of Understanding with the World Bank to implement the […]

News

FG to implement international cargo tracking to boost revenue

The Federal Government, through the Nigerian Shippers Council, has announced plans to implement the International Cargo Tracking Note to enhance Nigeria’s security and increase revenue generation. The Executive Secretary of the council, Mr. Pius Akutah, made this disclosure at a recent event in Lagos. Represented by the Director of Special Duties at the Nigerian Shippers […]

Lagos tops list of states with most external debt
News

Capital expenditure declines as FG spends N7.4tn on debt servicing

The Federal Government’s expenditure report for the first eight months of 2024 highlights the significant impact of debt servicing on Nigeria’s finances. Between January and August, ₦7.41tn was spent on debt servicing, surpassing the pro-rata budget of ₦5.51tn by 34.4%. This amount represents 89.6% of the ₦8.27tn budgeted for debt servicing this year, with the […]

News

Nigeria-Brazil agribusiness agreement to attract $4.3bn investment

The Federal Government, through the Ministry of Agriculture and Food Security and Fundação Getulio Vargas of Brazil, has signed a Memorandum of Understanding to promote private sector development in fertiliser production, hybrid seed technology, and agricultural finance. The MoU was signed by the Permanent Secretary of FMAFS, Temitope Fashedemi and the President of FGV, Prof. Carlos […]

News

Tinubu saved Nigeria N20bn with subsidy removal, naira floating – Edun

The Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun, announced that the full implementation of market-based pricing for Premium Motor Spirit and exchange rates had saved the federal government approximately $20 billion, or 5% of the country’s GDP, as of October 2, 2024. He made this statement on Friday during the validation […]

News

FG generates N346bn from November bond auction

The Federal Government raised over N346.155 billion in its November 2024 bond auction, with higher allotments despite offering a reduced amount. The auction, held by the Debt Management Office (DMO) on November 18, 2024, included reopenings of the 19.3 per cent FGN APR 2029 (5-Year Bond) and the 18.50 per cent FGN FEB 2031 (7-Year […]

FG deducts N256.5bn for gas projects in six months
News

Tinubu sacks PTAD boss

President Bola Tinubu has removed Dr. Chioma Ejikeme from her position as Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), 13 months into her reappointment. Miss Tolulope Odunaiya has been named her successor and officially assumed office on November 18, 2024, according to a statement from PTAD’s Corporate Communications Unit. This was disclosed in […]

News

FG pays $1.36bn to service debt

The Federal Government spent $1.36 billion to service debts owed to 12 international and multilateral creditors in the first half of 2024. This amount reflects a significant 216.07 per cent increase compared to the $431.23 million spent during the same period in 2023, as reported by the Debt Management Office. Findings show that the increase […]

News

Nigeria, India finalize key agreements to boost trade

President Bola Tinubu and India’s Prime Minister, Narendra Modi have directed their officials to finalize key trade agreements aimed at boosting economic cooperation. This was disclosed in a joint statement issued in Abuja at the end of Modi’s state visit. The leaders emphasized the importance of the Economic Cooperation Agreement, Double Taxation Avoidance Agreement, and […]

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