Nigeria’s external debt service obligations surged to $1.08 billion in Q4 2024, according to data from the Debt Management Office (DMO), as reported by Nairametrics. This marks a significant rise compared to the previous quarter, underscoring the growing strain on the nation’s debt profile. Earlier reports from the DMO showed that Nigeria’s total debt servicing…
Nigeria’s total public debt increased to N144.67 trillion ($94.23 billion) as of December 31, 2024, marking a significant 48.58% rise from the N97.34 trillion ($108.23 billion) recorded at the end of December 2023. This was revealed in the latest report on the nation’s debt profile, released by the Debt Management Office (DMO) on Friday,…
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has voiced concerns over the new tariffs imposed by the United States, warning that these, along with earlier tariffs introduced earlier this year, could result in a 1% contraction in global merchandise trade volumes in 2025. “I’m deeply concerned about this decline and the potential…
The Federal High Court in Abuja has set a date for judgment in the lawsuit filed by MultiChoice Nigeria Limited against the Federal Competition and Consumer Protection Commission (FCCPC). Justice James Kolawole Omotosho scheduled the judgment for May 8, after the parties involved presented and argued their written addresses during the hearing on Thursday.…
The Trans-Niger Pipeline (TNP) in the Bodo community, located in the Gokana local government area of Rivers State, has resumed operations after a fire broke out on Monday night, February 17. The fire occurred on a segment of the pipeline along the Bodo-Bonny road, with videos circulating on social media showing flames reaching into the…
Aliko Dangote, President of the Dangote Group, has accused former Ogun State Governor, Senator Ibikunle Amosun, of demolishing his cement plant twice during his tenure. Dangote made the statement during a meeting with the current Ogun State Governor, Prince Dapo Abiodun, on Monday, March 17, 2025. According to a release from the Ogun State Government,…
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), also known as petrol, to N860 per litre. The new price took effect on Monday, March 3. This follows last week’s decision by the Dangote Petroleum Refinery to lower the ex-depot price of petrol from…
Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre, starting from February 27, 2025. The N65 price cut was revealed in a statement issued by the refinery on Wednesday, February 26. Under the new pricing structure, customers in Lagos…
The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025. According to the World Bank’s project list, the $2.2 billion will be distributed across six different projects. The global institution has allocated $500 million for the ‘Community Action for Resilience and Economic Stimulus Programme,’…
The Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27.5%. CBN Governor, Olayemi Cardoso, made this announcement following the conclusion of the Monetary Policy Committee (MPC) meeting. He stated, “The committee was unanimous in its decision to maintain all parameters, including retaining the MPR at 27.50%, keeping…
