THE Nigerian National Petroleum Corporation (NNPC) has revealed that it spent N123.73 billion on petrol subsidy in September 2021. The Corporation in its report to the Federation Account Allocation Committee (FAAC) for October meeting said the amount with additional N40 billion differed deduction would be deducted from its contribution to FAAC in November. NNPC also […]
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The International Monetary Fund has projected that Nigeria’s government gross debt to Gross Domestic Product ratio will rise to 42 per cent by 2026 from 35.7 per cent in 2021. The IMF said this in the October 2021 Fiscal Monitor Report published on its website. It said the country’s gross debt-to-GDP ratio would increase from […]
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The Consumer Price Index, which measures inflation, has declined for the seventh consecutive month to 16.63 per cent in September. The Statistician-General of the Federation, Simon Harry, while speaking at a press briefing in Abuja on Friday, noted that the CPI decrease was 0.38 per cent lower than the 17.01 per cent recorded in August 2021. He said […]
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• We’re committed to stimulating Osun economy — Oyetola Osun state Governor, Adegboyega Oyetola, on Wednesday commenced the disbursement of Six Hundred and Thirty-Six Million, One Hundred and Ninety-Five Thousand Naira (N636.195,000.00) as soft loans to the citizens and residents of the State. The initiative, which was actualised through collaboration with the Central Bank of […]
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Budget deficit has risen to N20.64tn under the president Muhammadu Buhari according to analysed data from the budget office. The data covered periods from 2016 to 2020. According to the budget office, more than N7.97tn was borrowed from foreign and domestic sources to fund these deficits. According to Investopedia, a budget deficit occurs when expenses […]
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