•Tinubu addressing lawmakers at NASS The National Assembly has been slammed over the speedy approval of loan requests presented by President Bola Tinubu. Experts warned that the continuous plunge of the country into debt without scrutiny could put the country into serious trouble, reports Saturday PUNCH. Both the House of Representatives and t...
The federal government has spent $1.36 billion to service outstanding debts owed to 12 international and multilateral creditors in the first six months of 2024. This is according to an analysis of data from the public debt reports released by the Debt Management Office. The figure for payments made between January to June 2024 represents [&hel...
Nigeria’s external debt is the largest amongst all sub-Saharan African nations, despite the fact that it received debt waivers from the Paris Club, London Club or from Independent Creditors. The arrears of this debt have accumulated inexorably, putting Nigeria in the bad books of international financial communities. Also, Nigeria’s huge debt p...
•Fuel queue There are indications that the pump price of premium motor spirit, popularly known as petrol, may rise in filling stations as the Nigerian National Petroleum Company Limited finally admitted that it was facing challenges due to a $6 billion debt. After weeks of denial, the NNPC admitted yesterday that it owed its petrol […]...
The Asset Management Corporation of Nigeria (AMCON) has announced that Arik Air and Aero Contractors might be merged and turned into a national carrier because of the huge debts they owe. AMCON’s Managing Director/Chief Executive Officer, Gbenga Alade, shared this information during a meeting with media executives in Lagos yesterday. He explai...
The Anambra State Police Command said it rescued a 27-year-old man, identified as Alozie John, from attempted suicide in Umunnachi community, Dunukofia Local Government Area of the state. The young man, a livestock dealer, who hails from Isielu LGA of Ebonyi State, was said to have attempted suicide over the indebtedness of N1.2million to his ...
•Cultists A bloody clash between Aye and Bagger cult groups has claimed no fewer than four lives at different locations in Ughelli, Delta State. The clash, it was gathered, was caused by an unpaid drug debt in Ughelli North Local Government Area, reports Nigerian Tribune. It was learnt that the four people killed within 24 […]
•Arik Air The Nigerian Airspace Management Agency (NAMA) has grounded some aircraft belonging to Airik Airline over a $2.5m debt. A statement by the management of the agency today said the move was a sequel to an order by the enforcement department of the FCT High Court, regarding a debt of $2.5m owed by Arik […]
An Abuja High Court has issued a major ruling mandating the sale of aircraft, hangars, and other movable assets owned by Arik Air Limited. Specifically, the court directed sale of the aircraft with the registration numbers B737-700/5N-MJF, B737-800/5N-MJQ, DASH8-Q400, and 5N-BKX, reports Saturday Independent. This decision comes as a result of...
•Agbakoba The Senior Partner, Olisa Agbakoba Legal, Dr. Olisa Agbakoba, today, said Nigeria’s public debt rose to $91.46 billion (N121.67 trillion), despite its ability to generate $ 1 trillion in 40 years. Dr. Agbakoba identified the alleged exclusion of Nigerians from key value chains, weak enforcement of Local content laws, incorporation of...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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