Three-year blueprint: FG plans N26tn borrowing, N29tn for debt servicing

Three-year blueprint: FG plans N26tn borrowing, N29tn for debt servicing

Nigeria’s total public debt may hit N118.37tn in the next three years, The figure was based on analysing Nigeria’s current debt profile and the debt projections in the Medium Term Expenditure Framework and Fiscal Strategy Paper 2024-2026. According to the new MTEF/FSP, the Federal Government plans to take N26.42tn loans between 2024 and 2026. The fiscal policy also indicates that debt servicing will gulp N29.92tn in three years. The data […]

October 23, 2023 63

NEWS

Contributory pension: NLC, retirees lament as 26 states fail to join scheme

•Lagos, five others in full compliance, contributory pension scheme inevitable, says PenCom •Withholding pension immoral, says NLC, retirement now death sentence, retirees kick Only six states and the Federal Capital Territory have fully implemented the Contributory Pension Scheme as of the end of June 2023, according to the National Pension Commission. According to PenCom’s second quarter report for 2023, apart from the FCT, states fully implementing the CPS are Lagos, Osun, […]

October 19, 2023 97

SPORTS

How Eagles can end 15 games winless streak

Nigeria head into today’s encounter against Mozambique with a win in their last 15 friendly games, Punch Sports Extra takes a look at what must be done to end the winless streak Moffi, Boniface partnership Victor Osimhen picked up an injru against Saudi Aarabi and has been given permission to return to Italy. In his absence, Victor Boniface is expected to lead the attack and fans will hope to his more […]

October 16, 2023 19

SPORTS

Undefeated Makhmudov vows to ‘destroy’ Fury, Joshua

Tyson Fury and Anthony Joshua remain two of the biggest names in the heavyweight division, with clear targets on their backs for any man looking to make a statement as the next big thing. Fury remains undefeated in his campaign, a two-time heavyweight champion who is just one fight away from challenging to become the first undisputed titlist in the division since Lennox Lewis. That was always a goal of Joshua’s, […]

October 16, 2023 29

BUSINESS

Investors record N409bn gain on NGX in one week

Equities market investors gained N409bn in the past week as the Nigerian Exchange Limited saw a marginal increase in trading activities with the All-Share Index rising by 1.12 per cent week-on-week to reach 67,200.69 points. Market capitalisation of listed equities also increased by 1 per cent week-on-week to reach N36.919tn and the year-to-date return of the ASI rose to 31.12 per cent. Analysts at Cowry Assets Management Limited in their […]

October 16, 2023 25

BUSINESS

Sahara Group promotes intra-African collaboration

Leading energy conglomerate, Sahara Group is set to reinforce its call for more intra-African collaboration and investments towards enhancing access to energy on the continent at the Africa Energy Week 2023 scheduled to hold in Cape Town from October 16 – 20. An annual event, the AEW brings together leaders, innovators, and experts in the energy sector to discuss and shape the future of energy in Africa. The 2023 theme […]

October 16, 2023 80

NEWS

Fleeing driver rams into stationary truck, dies

A yet-to-be-identified driver has reportedly died while trying to escape from being attacked on the Lagos-Ibadan Expressway. The accident reportedly involved one blue Mercedes Benz truck with number plate RBC110XJ and one ash Toyota Sienna car with number plate EKY240HA.

October 16, 2023 41

BUSINESS

Fuel imports gulp N843bn, stakeholders lament inactive refineries

Oil marketers said the average ex-depot price of petrol from the only importer of the commodity was N580/litre. NNPCL is the sole PMS importer currently. Other marketers stopped importing the product due to their inability to access foreign exchange, among others. With the average daily consumption of petrol at 48.43 million litres and an average ex-depot price of N580/litre, the national oil company would spend N28.1bn daily on PMS imports. […]

October 16, 2023 77

NEWS

NDLEA seizes N80m worth of drugs, arrests 134 suspects in Q3

The Federal Capital Territory command of the National Drug Law Enforcement Agency has seized 3,988.74 kilograms of assorted drugs with a monetary value of N80 million. The FCT commander, Commander of Narcotics, Kabir Tsakuwa, disclosed this in an interview with the News Agency of Nigeria on Monday in Abuja. Tsakuwa, however, said that 134 suspected drug traffickers, peddlers and abusers were also arrested in the same period. He named the […]

October 16, 2023 42

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