State Debt Rises by N94.79bn in Three Months
Nigeria's 36 states and FCT saw domestic debt rise to N3.96tn in Q2 2025. Experts warn of a structural crisis as debt servicing eats into funds for health and education. Read the full analysis.
Category : Search result: Lagos debt
Lagos Parks Free for Christmas: 25th-27th Dec
Lagos State announces free entry to all state-managed parks from Dec 25-27, 2025, with extended hours until 8 PM. Enjoy family fun and festive lights!
Lagos to Cut Taxes from 65 to 9 in Major 2026 Reform
Lagos State plans a sweeping tax overhaul, reducing levies from 65 to just 9 by 2026. The reform aims to ease business burdens and boost compliance. Learn what's changing.
Lagos Fire: Sanwo-Olu Issues Update, No Lives Lost
Lagos Governor Babajide Sanwo-Olu assures citizens after a major fire at the GNI Building on Lagos Island. Firefighters responded swiftly; no casualties. Read the latest details.
LCCI: N15.52tr Debt Service a Huge Fiscal Burden
LCCI warns Nigeria's N15.52 trillion debt service allocation threatens economic stability. DG Chinyere Almona calls for stricter borrowing, revenue mobilisation. Read the full analysis.
Power Grid Crashes to 3,000MW, N5 Trillion Lost
Nigeria's power crisis deepens as grid output averages 3,000MW, far below 13,625MW capacity. Experts blame N4 trillion debt and poor remittance, leaving many in darkness this Christmas. Read the full analysis.
N2.7 Trillion Spent on External Debt Service in Q2 2025
Nigeria's debt burden deepens as 45.2% of Q2 2025 revenue goes to servicing external loans. Experts warn of fiscal risks and crowding out of critical spending. Read the full analysis.
DMO Sells N1.6tn T-Bills, Bonds Demand Spikes in November
Nigeria's debt market surged in Nov 2025 with DMO selling N1.6tn in T-bills. FGN Bonds & OMO Bills saw massive oversubscription as the Naira appreciated. Full market analysis inside.
Fire Outbreak at Great Nigeria Insurance House in Lagos
A major fire has gutted the 22-storey Great Nigeria Insurance House on Lagos Island. Emergency services are battling the blaze as the number of casualties remains unknown. Get the latest updates.
Nigeria's Q2 2025 External Debt Service Hits N2.70tr
Nigeria's external debt service consumed 45.2% of Q2 2025 revenue, as total public debt stock rises to N152.40 trillion. Experts warn of exchange-rate risks and financing conditions.
Lagos to Regulate Informal Spaces Under New Plan
Lagos State Government announces decisive steps to regulate informal spaces like road setbacks and under-bridge areas. Commissioner Dr. Oluyinka Olumide outlines plan for safety and sustainable urban growth. Read more.
DMO Issues Fresh Warning to States Over Borrowing Rules
The Debt Management Office urges state governments to strictly comply with borrowing laws to avoid loan approval delays. Learn the key guidelines for responsible debt management.
Social Critic Calls for CCTV on Lagos Roads After Bodies Found
Social critic Scott Iguma urges Lagos government to install CCTV cameras on major roads following repeated sightings of dead bodies. He calls it a public safety necessity.
ADC: 2026 Budget Built on Quicksand, More Debt
The African Democratic Congress (ADC) criticizes Tinubu's 2026 budget proposal, calling it fiscally reckless and a debt trap that mortgages Nigeria's future. Read their full analysis.
Telefonica Cuts 5,500 Jobs in Spain
Telefonica announces a massive voluntary departure plan affecting 5,500 employees in Spain, costing €2.5 billion. The move is part of a new strategic focus. Read more.
Man arrested for dumping refuse on Lagos road
Lagos State Task Force arrests Makinde Rasaq for indiscriminate waste disposal. Commissioner Tokunbo Wahab warns of zero tolerance for environmental infractions. Read more.
Supreme Court rules for Fidelity Bank in N30bn debt suit
Nigeria's Supreme Court has delivered a final judgment in a two-decade debt dispute, ruling in favour of Fidelity Bank. The court set key terms for the N30 billion repayment. Read the full details.
Lagos, NIOB Partner on Physical Planning and Development
Lagos State Government commits to collaboration with NIOB to enforce building standards, ensure safety, and promote sustainable urban growth. Learn about the new regulatory push.
Sanwo-Olu: Collaboration Key to Bridging Lagos Housing Deficit
Governor Babajide Sanwo-Olu says strong government-private sector collaboration is critical for affordable housing in Lagos. Learn about the state's strategy.
New Lagos Bill: Jail, Fine for Abusive Landlords
Lagos State's new Tenancy Bill proposes severe penalties, including N1m fines and jail, for landlords who harass tenants or evict without court orders. Read the full details.
5 Arrested in Lagos for Staged Kidnapping, Extortion Plot
Lagos police have arrested five suspects for orchestrating a fake kidnapping to extort N1.7m from a victim's mother. The staged video caused public panic. Read details of the police investigation.
Nigeria's Debt, Salaries Exceed Revenue in 2025
Nigeria's Federal Government spent more on debt servicing and salaries than it earned in 2025's first seven months, with a N10.19tn revenue shortfall. Oil earnings slumped over 60%. Read the full analysis.
Gas Issues, N6tr Debt Cripple Nigeria's Power Generation
Nigeria's electricity supply plummets due to gas constraints and a massive N6 trillion debt owed to power generation companies. Find out why the grid remains unstable.
Agbero Flees With Woman's Bottle of Fanta in Lagos
A Lagos woman was left distressed after a tout, known as an 'agbero', snatched her bottle of Fanta and fled. The incident, captured on video, has ignited discussions on public safety. Read the full story.
FG Issues N1.23tr Bond to Settle Power GENCO Debt
The Federal Government plans a N1.23 trillion bond to clear debts owed to power generation companies and restore liquidity in the electricity market. Read more.
DMO to States: Comply with Fiscal Responsibility Act on Loans
The Debt Management Office has urged state governments to strictly adhere to the Fiscal Responsibility Act when borrowing. DMO DG Patience Oniha says compliance is non-negotiable for sustainable public finance. Read more.
Reps summon 3 DisCos over N100bn debt to FG
The House of Representatives Public Accounts Committee has summoned IBEDC, BEDC, and PHEDC over an alleged N100 billion debt. The companies have 72 hours to appear or face sanctions. Read more.
LP to Sue Ogun State Over N1.669 Trillion Budget Loan
Labour Party warns Governor Dapo Abiodun against borrowing to fund Ogun's 2026 budget, threatens court action. Details on the N518.9bn debt plan and political showdown.
Sanwo-Olu Backs Food Entrepreneurs for Lagos Food Security
Governor Babajide Sanwo-Olu commits to empowering food innovators at the 2025 Lagos Food Festival. Read how the state is strengthening its food value chain and celebrating culinary diversity.
Smirnoff Ice Fuels 5 Major Lagos Raves in Weekend Takeover
Lagos experienced a cultural takeover as Smirnoff Ice powered five distinct raves across the city from Monochroma to Bioskey's Playhouse, uniting scenes with music, flavour, and energy. Discover how the brand became the weekend's heartbeat.
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