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Increased foreign borrowing will put more pressure on Nigeria’s debt service burden, the Nigerian-British Chamber of Commerce has said. According to the chamber, the country’s debt service burden currently stands at 35 per cent owing to low government revenue and that additional external loans will certainly raise the figure. In ...

 ’Femi Asu The Nigeria LNG Limited, the biggest gas exporter in the country, said it earned a total of $4.723bn last year, the lowest in seven years. The company, which was created to harness the nation’s vast natural gas resources and produce Liquefied Natural Gas and Natural Gas Liquids for ...

Ifeanyi Onuba, Abuja The Nigeria Deposit Insurance Corporation on Wednesday said the Task Force on the Implementation of the Failed Bank Act would soon begin to re-arrest for prosecution directors and officers of licensed banks who had committed malpractices and had absconded. The task force is made up of representatives ...

Some top lawyers have suggested to the various anti-corruption and law enforcement agencies how the trend of losing high-profile corruption cases can be reversed, ADE ADESOMOJU reports On April 3, 2017, which was Monday, the first working day of the week, the Federal High Court in Lagos lifted the order ...

Oyetunji Abioye with agency report Nigeria needs to reform its finance to ensure it can hedge against any future foreign exchange crisis, the World Bank Chief Economist for Africa, Albert Zeufack, has said. Zeufack said on Wednesday that exchange rate adjustments could lead to higher inflation but continued monetary policy ...

Everest Amaefule, Abuja Although Nigeria’s total current debt is relatively low compared to the Gross Domestic Product, the interest rate payment is not sustainable by current revenues, the World Bank has said. READ: Nigeria’s debt burden to hit N19.3tn by December Senior Economist at World Bank office in Nigeria, Yue Man ...

President Muhammadu Buhari yesterday ordered an investigation into the allegations of violations of law and due process made against the Secretary to the Government of the Federation (SGF), Mr David Babachir Lawal, in the award of contracts under the Presidential Initiative on the North East (PINE). The President also directed ...

KADUNA State Governor Nasir El-Rufai was under fire yesterday for denigrating the contributions of Asiwaju Bola Ahmed Tinubu and his Southwest base to the victory of the All Progressives Congress (APC) in the 2015 elections. The Chairman of the Senate Committee on Local and Foreign Debts, Senator Shehu Sani, took ...

The Nigerian rice revolution began with the immediate past administration’s foray into the diversification of the Nigerian economy, with special focus on agriculture and solid minerals. Today, the President Buhari’s administration has taken the gauntlet with the administration revolutionising the nation’s economy from being oil dependent to an agro focused ...

World Economics, a London-based organisation, declared yesterday that after a few quarters of negative growth that saw the death of businesses, the Nigerian economy has wriggled out of recession. According to the organisation, which focuses on producing financial analysis on world economy, Nigeria’s “Market Growth Index grew to 58.5 in ...