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Edo State Governor, Godwin Obaseki, says Nigeria is in huge financial trouble. Obaseki said the FG printed ₦60 billion as part of federal allocation for March. Speaking at the Edo state transition committee stakeholders engagement on Thursday, the governor said the economy is no longer what it used to be. According to the National Bureau of Statistics (NBS), Nigeria’s total public debt stock as of the third quarter of 2020 (Q3 2020) rose by ₦6.01 trillion within a year. The agency’s report noted that Nigeria’s total public debt stock constituting external and domestic debts stood at ₦32.22 trillion ($84.57 billion) as of September 30, 2020. Obaseki said the rising debt profile is worrisome as dependence on crude oil is no longer sustainable. “Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil every day,” he said. “So we have run a very strange economy and a presidential system where the local, state and federal government, at the end of the month, go and earn a salary. We are the only ...
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Edo State Governor, Godwin Obaseki, says Nigeria is in huge ...
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Five more students abducted by bandits from the Federal College ...
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The FG has inaugurated the Police Public Complaints Committee to ...
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South African retailer, Shoprite Holdings, has announced the conclusion of ...
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The upturn in the price of the international oil benchmark, ...
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Ebonyi has imposed a dusk-to-dawn curfew in Effium and Ezza-Effium ...
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Nigeria’s President Muhammadu Buhari travelled to London for a “routine” ...
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Nigeria’s total public debt portfolio stood at ₦32.92 trillion as ...
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Barely 72 hours after electric power was restored in Maiduguri, ...
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The United Bank of Africa (UBA) incurred ₦4.94 billion as ...
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Truckers under the auspices of Tin Can Island Transporter Operators ...
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Nigeria has not changed its foreign exchange policies from a ...
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The FG has said that 122,410 people have received the ...
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An ethnic militia, the Fulani Nationality Movement, FUNAM, has claimed ...
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The Federal Bureau of Investigation ranked Nigeria 16th place and ...
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The Federal Executive Council on Wednesday approved the plan by ...
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The European Union has written a letter to the World ...
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Nigeria’s unemployment rate rose from 27.1% in the second quarter ...
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Six state governments: Akwa Ibom, Anambra, Cross River, Delta, Edo ...
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The United Kingdom has introduced a new policy in a ...
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Zamfara Governor Bello Matawalle has given bandits two months to ...
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Nigeria recorded its worst trade deficit in at least 20 ...
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The Economic and Financial Crimes Commission, on Monday, arraigned a ...
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Following the series of mass abduction of schoolchildren by Boko ...
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