The Federal Government says plans were underway to offset the N4 trillion debt owed to the Power Generation Companies (GenCos) for electricity generated. Special Adviser, Strategic Communications and Media Relations to the Minister of Power, Mr Bolaji Tunji, told the News Agency of Nigeria (NAN) in Abuja on Tuesday that[Read More…]
The Federal Government is engaging in consultations with the United States and World Trade Organisation (WTO) to find mutually beneficial solutions to the recent tariff measures announced by the Donald Trump administration. Minister of Industry, Trade and Investment, Dr Jumoke Oduwole hinted at the consultations in a press statement[Read More…]
The Federal Government has been able to raise a total of N1.09 trillion through the Sovereign Sukuk since 2017, to support infrastructure development. The Director-General of the Debt Management Office (DMO), Patience Oniha, who gave the information on Wednesday in Lagos, during “an all parties meeting” for the issuance[Read More…]
The Federal Government is to spend 47,960,000,000,000 in 2025. The proposed expenditure was given as the Federal Executive Council (FEC) on Monday approved the budget proposals for 2025 with President Bola Tinubu ordering some amendments after its presentation to the Council by the Budget Office. Briefing[Read More…]
The Debt Management Office (DMO), has offered two Federal Government of Nigeria (FGN) savings bonds for subscription in December. The DMO said on Monday that the first offer was a two-year FGN savings bond due on Dec. 11, 2026, at an interest rate of 17.483 per cent per[Read More…]
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has confirmed plans by the Federal Government to raise Value Added Tax, VAT, to 15 percent. However, the minister explained that only luxury goods consumed by the rich would be affected. Edun made the disclosure[Read More…]
Two Federal Government of Nigeria (FGN) bonds have been offered for subscription in October at N1,000 per unit. A Debt Management Office (DMO) statement said the first offer is a two-year FGN savings bond due on Oct. 16, 2026, at an interest rate of 17.084 per cent per[Read More…]
Eid-ul-Mawlid: FG declares Monday as Public Holiday The Federal Government has declared Monday, September 16, 2024, as a public holiday to mark the celebration of the Eid-ul-Mawlid. Eid-ul-Mawlid is the commemoration of the birth of the Holy Prophet Muhammad (PBUH). The Minister of Interior, Dr. Olubunmi Tunji-Ojo,[Read More…]
FG increases fees for Nigerian Passport The federal government has announced an increase in the cost of obtaining the Nigerian Passport effective from September 1, 2024. The Nigeria Immigration Service‘s spokesman, Kenneth Udo, revealed this in a statement posted on the NIS’s X handle on Wednesday. According to the statement,[Read More…]
FG commences Crude oil sales in naira to Dangote, others October 1 The Federal Government has announced that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024, The Punch reports. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun,[Read More…]
