With the new data released by the National Bureau of Statistic, it is estimated that each Nigerian currently owns N396,376.19 in terms of debt per capita. NBS did its analysis of Nigeria’s Public debt stock to arrive at this shocking truths. In the stock report published, it reveals that the country’s total public debt increased by 75.27 per cent from N49.85 trillion in the first quarter of 2023 to N87.38 trillion at the end of the second quarter of 2023. In monetary terms, this is an increase of N37.53 trillion in three months. Breaking down the Cost and Debt Implications…
Author: Editor Francis
At the US–Nigeria Economic Relationship Forum held at the Lagos Business School, Wally Adeyemo, the US Deputy Secretary of the Treasury, emphasised that Nigeria’s economic challenges cannot be resolved swiftly or effortlessly. According to him, one key issue is the absence of a comprehensive macroeconomic framework that can effectively draw increased dollar-denominated foreign direct investments into the country’s economy. “There is no quick and easy solution to those challenges, I want to be honest about that. That is what true partners are,” Adeyemo remarks “But ultimately, we know that by helping to make investments in the Nigerian economy in your…
Иногда инвестор может получить налоговые льготы, если откроет индивидуальный инвестиционный счет либо передаст такой счет на доверительное управление. В зависимости от применения одного из способов у акционера появляются различные последствия. Для защиты своих прав инвестор может обратиться в соответствующие органы и оспорить нарушения. Поскольку наиболее незащищенной категорией является миноритарный акционер, рассмотрим риски. Закон определяет, какие права возникают у акционера в зависимости от его доли в обществе. Обычно ключевое право блокировать любые внесенные на собрании акционеров предложения появляются уже с доли в 25% + одна акция — это называется блокирующим пакетом. «В тех случаях, когда контрольный пакет не консолидирован в одних руках,…
Mr Robert Piper, the Special Adviser to the United Nations (UN) Secretary-General on solutions to internal displacement, says the body is a critical partner towards achieving Nigeria’s humanitarian response. Piper said this on Monday when he led the UN delegation to the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, in her office in Abuja. The special adviser told the minister that his mission in Nigeria was to follow up on the UN Secretary-General’s action plans on internal displacement. Piper also said, “the visit was to renew our commitment towards supporting Nigeria in areas of Humanitarian needs. He…
Germany has officially joined the ranks of nations signing the Artemis Accords, marking its position as the 29th nation to pledge commitment to the principles of peaceful space cooperation. The signing ceremony, presided over by German Ambassador to the United States Andreas Michaelis, witnessed Dr. Walther Pelzer, Director General of the German Aerospace Center, sign the Artemis Accords on behalf of Germany. Notable figures, including Acting Assistant Secretary of State Jennifer Littlejohn, NASA Administrator Bill Nelson, Executive Secretary of the U.S. National Space Council Chirag Parikh, and Federal German Coordinator of German Aerospace Policy Dr. Anna Christmann, delivered remarks at…
Deputy Secretary of the Treasury, Wally Adeyemo, is embarking on a crucial visit to Lagos, Nigeria, from September 17 to 19, 2023, as part of the Biden Administration’s commitment to enhancing economic and trade relations with Africa. This visit aims to deepen the strong bonds between the United States and Nigeria, focusing on cultural and economic ties. Deputy Secretary Adeyemo, the highest-ranking Nigerian-American official in the Biden Administration, will emphasize the potential for strengthening business, investment, and partnerships in Nigeria, with a particular focus on entrepreneurship, youth development, and women’s empowerment. The visit follows Secretary Yellen’s groundbreaking trip to Senegal,…
The Central Bank Of Nigeria is set to recover all loans granted as part of the COVID-19 intervention to some categories of Nigerians to cushion the harsh socio-economic realities, but some beneficiaries of the facility are showing concern about the “act” of recovery. A beneficiary, Fatimah Alli, said that the sudden move to recover her N500,000 COVID-19 loan had worsened her financial challenges. “I got a loan of N500,000 in 2020 to cushion the economic effects of COVID-19. But at that time, we were assured that we would not be required to repay the money. “But recently, all the money…
Nigerian teacher John Obot, hailing from Akwa Ibom State, has achieved a remarkable milestone by breaking the existing Guinness World Record for the longest marathon reading aloud by an individual. This achievement surpasses the previous record set by Isakov of Turkey, which stood at 124 hours. John Obot’s incredible endeavour is currently unfolding in Uyo, the capital of Akwa Ibom State, and is anticipated to conclude around 1 a.m. on Tuesday. At that point, Mr. Obot will have completed an astonishing 145 hours of continuous reading aloud, establishing a new world record in the process.
The National Identity Management Commission (NIMC), of Nigeria has introduced a self-service solution that enables citizens to register for their National Identification Number (NIN), conveniently using their smartphones. This innovation was unveiled during the commemoration of the 5th Identity Day, jointly organized by the NIMC and the Ministry of Interior in Abuja. Abisoye Coker-Odusote, the Acting Director General/CEO of the NIMC, emphasised the vital role of identity in the country, highlighting that it extends beyond a mere card or number. She stated that identity signifies individuals’ existence, entitlements, and place in society. Moreover, it provides access to essential services, social…
President Bola Tinubu has discreetly appointed Hakeem Muri-Okunola as the Principal Secretary in his office. The announcement, though not officially publicized, was confirmed by reliable sources within the Presidency. Muri-Okunola received his appointment letter on Friday and is scheduled to assume his new role on Monday. Hakeem Muri-Okunola, 51, brings a wealth of experience to his new position. He holds a Bachelor’s degree in law from Lagos State University (LASU) and a Master’s degree in International Business Law from Queen Mary & Westfield College, University of London. Throughout his career, Muri-Okunola has served in various public administration roles and has…
The military leaders of Mali, Burkina Faso, and Niger signed a mutual defence pact on Saturday, ministerial delegations from the three Sahel countries announced in Mali’s capital, Bamako. The Liptako-Gourma Charter establishes the Alliance of Sahel States (AES), as Mali’s junta leader Assimi Goita posted on X, the social network. Its aim is to “establish an architecture of collective defence and mutual assistance for the benefit of our populations”, he wrote. The Liptako-Gourma region — where the Mali, Burkina Faso, and Niger borders meet — has been ravaged by jihadism in recent years. “This alliance will be a combination of…
In relation to the dilapidation of sections of the Third Mainland Bridge that raised the concerns of motorists over safety reasons and that the Lagos state government promised on Thursday to start fixing, the repair of the pothole-riddled sections of the bridge will be carried out on September 17 and 24. The state had asked commuters to take alternative routes during the repair of the bridge. The Lagos state Government has postponed the plan to work on the failed section of the old bridge The state also announced that the scheduled traffic division arrangement for the bridge has been postponed.…