Three days ago, Nigeria’s Junior Finance Minister, Mr Remi Babalola, said that the Nigerian National Petroleum Corporation is insolvent. The Beeb: “NNPC is insolvent as current liabilities exceeded current assets by 754bn naira ($5bn; £3.3bn),” Mr Babalola said at a government finance meeting. He said the NNPC owed about $3bn (£2bn) to Nigeria’s Federation Account,… Read More »
From NEXT: The governor of Nigeria’s central bank, Sanusi Lamido Sanusi, has criticized the Federal Government’s continued spending on reducing fuel cost, renewing the call for the removal of a subsidy programme that has gulped trillions of naira but has failed to reach ordinary people as intended. Mr. Sanusi was speaking on Monday at a… Read More »
The president of Rice Importers and Distributors Association of Nigeria (RIDAN), Gbadamosi Mufutau, urged the federal government to harmonize the duty on rice with the neighbouring countries to discourage smuggling. “You observed that any increase in duty, tariff, levies and benchmark always cause increase of importation of such products to Republic Benin and Togo ports… Read More »
Nigeria’s debt profile at the end of last year stands at $3.97 billion, the Minister of Finance, Mansur Mukhtar said yesterday at the beginning of a two-day public hearing on the loans and debt collected by federal and state governments organised by an ad-hoc committee of the House of Representatives in Abuja. Mr Mukhtar said… Read More »