• Obasanjo has no shame, he is becomimg a laughing stock, says Fayose

    Obasanjo has no shame, he is becomimg a laughing stock, says Fayose

    According to reports, the Ekiti State Governor, Ayodele Fayose, has blamed the current spate of corruption in Nigeria on former President, Olusegun Obasanjo.

    The fiery governor who used to be in close affinity with the former President but strained relationship after accusing the elder statesman of attempting to impeach him in 2006, described Obasanjo as a laughing stock.

    In an interview with the Newsmen, the governor alleged that Obasanjo bribed lawmakers with N50m each for his failed third term bid.

    Wondering if the […]

  • Nigeria’s total debt stock is N16.3 trillion – Minister

    Nigeria’s total debt stock is N16.3 trillion – Minister

    Nigeria’s total national debt stock for both the Federal Government and the States stood at N16.3 trillion as at June 30, this year.

    The Minister of Budget and National Planning, Udoma Udo Udoma, who disclosed this said it is made of foreign liabilities of N3.2 trillion and domestic liabilities of N13.1 trillion.

    According to the Media Aide to the Minister, James Akpandem, it was necessary to correct a misconception carried in the media regarding the Minister’s response to the country’s debt status […]

  • External debt now 18% of N16trn debt stock – DMO

    External debt now 18% of N16trn debt stock – DMO

    Debt Management Office (DMO) has revealed that as at June 2016, Nigeria’s external debt accounted for only 18.33 per cent of the country’s total debt stock of about N16 trillion.

    Director General of DMO, Dr Abraham Nwankwo, who disclosed this in a statement recently, said that within that very small external debt, concessional debt (with average interest rate of about 1.25 per cent per annum and average tenor of about 40 years), accounted for about 80 per cent of the total.

    He […]

  • Stop panic buying, we have 45-day oil consumption in stock – NNPC assures Nigerians

    Stop panic buying, we have 45-day oil consumption in stock – NNPC assures Nigerians

    The management of the Nigerian National Petroleum Corporation, (NNPC) has assured that there is adequate petroleum products and advised that people should not embark on panic buying.

    A statement signed by Alhaji Garba Deen Muhammad, Group General Manager, Group Public Affairs division, on Friday in Abuja, said the Corporation had commenced talks with the leadership of the industrial unions to address their grievances.

    “The Corporation has in stock enough products to satisfy local consumption requirements for the next 45 days.

    “There is no […]