•Tinubu Nigeria will spend about ₦15.81 trillion on servicing its public debt in 2026, one of the largest components of a record ₦68.32 trillion budget, according to data from civic tech organisation BudgIT and official government figures. The spending plan, recently approved by lawmakers and signed by President Bola Tinubu, outlines total exp...
•Taiwo Oyedele Contractors and officials of MDAs have called for action by the newly appointed Minister of Finance, Taiwo Oyedele, on backlog of unpaid government obligations. Stakeholders in the public and private sectors said the minister faces an immediate test of leadership, amid calls for intervention to address liquidity constraints thre...
Contractors have laid a coffin at the entrance of the Finance Ministry headquarters in Abuja. The contractors under the aegis of All Indigenous Contractors Association of Nigeria (AICAN) started a non-stop protest at the ministry yesterday over debts being owed by the federal government, reports Daily Trust. They accused the federal government...
•The protesting contractors Members of the Indigenous Contractors Association of Nigeria today staged a protest at the National Assembly gate in Abuja, demanding payment for completed projects. The contractors accused the federal government of failing to pay debts owed for projects executed, completed, and commissioned since 2024, despite repe...
•Some Nigerian professors Some professors in the country have recounted their struggles with poor remuneration, revealing how meagre salaries have forced them into multiple loans and an unending cycle of debt. In separate interviews with our correspondent, the lecturers described how the government’s weak commitment to education has made life ...
Ghana’s state electricity distributor has cut power supply to several state institutions over unpaid bills running to tens of millions of dollars. It said its pleas for payment have fallen on deaf ears, reports AFP. The Electricity Company of Ghana yesterday cut off electricity to Ghana Water Limited’s Weija treatment plant in Accra, citing an...
•Kano Governor Abba Yusuf and ex-Governor Ganduje The Kano State Debt Management Office says it has serviced N63,508,024,580.03 of both foreign and domestic debts incurred by the Abdullahi Umar Ganduje led administration. The Director General, Kano State Debt Management Office, Dr Hamisu Sadi Ali, made this known while briefing journalists on ...
•Nigeria Governors Forum The total debt of Nigerian states has risen to N11.47 trillion as of June 30, 2024 despite higher allocations from the Federation Account Allocation Committee. This is according to an analysis of data from the public debt reports released by the Debt Management Office, reports The PUNCH. The figure for the second [&hel...
•Nigerian debt Sub-national governments continued to grapple with a persistent reliance on borrowing to finance their budgets in 2023, as the total debt stock of the 36 states surged by 38.1%, from N7.25tn in 2022 to N10.01tn. BudgIT’s 2024 State of States report released yesterday revealed that the debt growth was partly driven by a […...
The Nigerian National Petroleum Corporation (NNPC) is in talks for another oil-backed loan to boost its finances and allow investment in its business, its chief executive told our correspondent, as pressure mounts on the state-backed oil company the economy depends upon. NNPC in which the government is the main stakeholder, aims to raise at le...
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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