Supreme Court Calls Out FG Over LG Autonomy
Nigeria's Supreme Court has called on the federal government to implement its judgment granting financial autonomy to 774 local governments. The court dismissed Osun state's suit. Full details inside.
Category : Search result: state government debt
Supreme Court Dismisses Osun's LG Funds Suit
Nigeria's Supreme Court has dismissed Osun State's suit to compel the Federal Government to release withheld local government allocations. Read the full details and implications of the verdict.
FG to Clear N4tr Road Contractors' Debt by Dec 20
The Federal Government has set a December 20 deadline to settle all outstanding payments owed to road contractors, following protests over N4 trillion in delayed project financing. Minister David Umahi announced the presidential directive.
AMCON Repays N3.6trn to CBN, Pursues 3,000 Court Cases
Nigeria's AMCON has repaid N3.6 trillion to the CBN from debt recovery and asset sales since 2010. The corporation still owes N3 trillion and is engaged in over 3,000 lawsuits. Read the full report.
AMCON pays N3.6tn to CBN, hits 87% recovery rate
Nigeria's AMCON has repaid N3.6 trillion to the CBN, achieving an 87% recovery rate. CEO Gbenga Alade reveals plans to trace global assets of debtors. Read the full report.
Contractors Protest N760bn Debt, Disrupt Ministry
Indigenous contractors block the Federal Ministry of Finance in Abuja, demanding payment of N760 billion for completed 2024 projects. The protest disrupts government activities as financial distress deepens.
Nigeria's $2.25bn Eurobond Oversubscribed, Signals Investor Confidence
Nigeria raises $2.25bn via a heavily oversubscribed Eurobond, attracting over $13bn in orders. Analysts credit recent fiscal reforms and FX liberalisation for renewed global investor confidence in Africa's largest economy.
Contractors Protest ₦500bn Unpaid Contracts at Finance Ministry
Indigenous contractors protest at Nigeria's Finance Ministry over ₦500 billion unpaid debts, accusing the government of reneging on promises. They demand payment to save jobs and businesses.
National Debt Rises to N152.4 Trillion
Nigeria's public debt surges to N152.39 trillion as experts warn short-term investments threaten fiscal stability. State debts see historic decline. Read the full analysis.
FG Urged to Unlock N70tr Maritime Revenue for Debt
Olisa Agbakoba Legal urges FG to implement maritime reforms, unlocking N70 trillion yearly to service Nigeria's N152.4 trillion public debt and stop massive revenue losses.
FG Offers ASUU Lecturers 40% Salary Increase
The Federal Government has proposed a 40% salary increase for university lecturers as ASUU's ultimatum expires. Will this avert a nationwide strike?
Africa's $90B Debt Crisis Blocks Climate Action
African countries spent $90B on debt servicing in 2024 while climate finance falls short. G20 summit must deliver debt relief to unlock Africa's green transition and global climate security.
Kenya: Economic Crisis & Political Unrest Deepen
Kenya faces multiple crises: public debt hits 68% of GDP, 41 protest deaths, rising femicide cases, and environmental breakdown. Can President Ruto's priorities save East Africa's powerhouse?
SW States Assure Security During Yuletide Season
Joint security stakeholders from Oyo, Ogun, Lagos, and Osun states reassure residents of adequate security during yuletide. Enhanced patrols and intelligence sharing promised.
Bauchi Governor Presents N878bn 2026 Budget
Governor Bala Mohammed presents a N878 billion 2026 budget to the Bauchi State Assembly, focusing on economic and social sectors. The budget sees a 41% increase from 2025.
Zamfara Settles N67m Debt for 436 Freed Inmates
Zamfara First Lady Hajiya Huriyya Lawal has secured the freedom of 436 inmates by settling their N67.2m debt. The intervention occurred during a mass wedding ceremony for 200 orphans in Gusau.
Nigerian Couple's $88,000 Wedding Loan Costs $158,924
A Nigerian couple borrowed $88,000 for their wedding and will repay $158,924 over 17 years. Shocking details revealed by friend spark wedding cost debate.
G20 Urged: Africa's Debt Crisis Blocks Climate Action
Former Ethiopian PM warns G20: Africa spends $90B on debt servicing while climate finance falls short. Debt relief essential for global climate security. Read more.
Contractors Appeal to Tinubu Over FG Debt Since 2024
Nigerian contractors under ANC appeal to President Tinubu for payment of debts owed since January 2024. They face financial crisis ahead of Christmas due to heavy bank interests.
ECB Warns on AI Bubble and Eurozone Debt Risks
European Central Bank warns AI valuations may be overstretched and sovereign debt levels threaten financial stability. Learn how this affects global markets.
Africa's $163bn Debt Crisis Needs EU Action
African leaders warn Europe must help break debt cycle as countries pay $163bn annually. Unsustainable debt hampers climate resilience and development across the continent.
US Condemns Mass School Abductions in Northern Nigeria
The United States condemns the mass abductions of over 300 students in Niger and 25 schoolgirls in Kebbi, urging the Tinubu government to swiftly capture the terrorists and protect Christians.
Niger State Closes All Schools After Mass Kidnapping
Niger State government orders immediate closure of all schools following abduction of over 300 students in Papiri. Governor Bago announces security measures while rescue operations continue.
G20 South Africa Declaration: Minerals, Debt, Climate
The G20 summit in South Africa endorsed a declaration focusing on critical minerals, climate finance, and debt relief for developing nations. Discover the key outcomes.
Court Orders Police Out of Nestoil Premises
Federal High Court directs Lagos Police to withdraw officers from Nestoil facilities in ongoing debt dispute with FBNQuest Merchant Bank. Latest ruling shifts case dynamics.
Lady's N16k Loan Becomes N365k Debt from Loan App
A Nigerian woman's N16,000 loan from a mobile app escalated to N365,000 repayment demand. Discover the shocking details and public reactions to this predatory lending case.
Japan PM Takaichi defends $135bn stimulus package
Japanese Prime Minister Sanae Takaichi insists the $135 billion stimulus is fiscally responsible despite market concerns. Includes energy subsidies and tax cuts to combat inflation.
IPMAN Warns of Fuel Crisis Over NMDPRA Debt Delays
IPMAN alerts Nigeria of potential fuel disruption as NMDPRA delays debt payments for over 3 years. Association seeks FG intervention while praising NNPC settlement.
Trade Fair Demolition: Economic Waste in Lagos
The demolition of multi-billion-naira shops at Lagos Trade Fair Complex raises critical questions about governance, transparency, and economic waste in Nigeria. Discover the full story and its implications for investors.
Nigeria at Risk of Debt Crisis, Experts Warn
Financial experts warn Nigeria risks another debt crisis without urgent reforms. Learn about the critical measures needed to stabilize the economy and prevent financial distress.
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