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Economy
FG spends N1.02 trillion on debt servicing in Q1 2021-DMO

FG spends N1.02 trillion on debt servicing in Q1 2021-DMO

The Nigerian government spent a sum of N1.02 trillion on domestic and foreign debt service in the first quarter of 2021, representing a 35.7% year-on-year increase compared to N753.7 billion spent in the corresponding period…

Economy
World Bank blames CBN for Nigeria’s foreign exchange crisis

World Bank blames CBN for Nigeria’s foreign exchange crisis

The World Bank has blamed the Central Bank of Nigeria’s management of the foreign exchange regime as the reason for the FX crisis currently being experienced in the country. The World Bank made this remark…

Economy
World Bank reports say rising inflation push 7m Nigerians below poverty line

World Bank reports say rising inflation push 7m Nigerians below poverty line

The World Bank has revealed that rising inflation in the country has pushed about 7 million Nigerians below the poverty line in 2020 alone. According to a report “Resilience through Reforms” published by the bank…