IN THE NEWS

Daily Watch – Nigeria’s debt hit ₦27.4 trillion in 2019, OPEC basket price reaches record low

Data from the Debt Management Office has shown that the FG and the 36 states, including the Federal Capital Territory, owed a total of ₦27.4 trillion as of December 2019. This indicates an increase in the country’s public debt portfolio from September 2019, when it was reported that it owed a total of ₦26.22 trillion. The ₦27.4 trillion included the total external and domestic debt portfolios of the Federal Government and the states. The breakdown of the data showed that domestic debt amounting to ₦18.3 trillion accounted for 67.07 percent of the total debt stock, of which the FG’s share of domestic debt portfolio was ₦14.2 trillion, or 52.09 percent, while the states and FCT owed ₦4.1 trillion or 14.99 percent. Nigeria’s total external debt was ₦9.02 trillion, of which the DMO said, the FG owes ₦7.5 trillion, or 27.50 percent, while the states and the FCT owe ₦1.4 trillion, about 5.43 percent of the total debt portfolio. According to the debt office, the CBN official exchange rate of US$1 to ₦326 as of 31 December 2019 was used in converting the domestic debts to dollars. Nigeria’s Department of Petroleum Resources has ordered oil and gas companies on Thursday to ...
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NEWS

Daily Watch – Dangote backs border closure despite hit, FG tracks 100 over COVID-19 fears

Nigerian authorities have been in touch with around 100 people ...
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Daily Watch – Coronavirus reaches Lagos, Border closure forces Dangote to look outward

Dangote Cement said on Wednesday it planned to start exports ...
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Daily Watch – ISWAP grab CJTF leader, Zenith Bank credit effort to slow

Data from the Nigerian National Petroleum Corporation has shown that ...
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Daily Watch – Port congestion soars, Mubarak bows out

Nigeria has selected a consortium including Egypt Air to set ...
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Daily Watch – Police brutality in focus as protesters killed in Ogun, Q4 growth surprises

Nigeria’s economic growth rose to an annual rate of 2.55% ...
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Daily Watch – NIPC records huge investment drop, Mambila Power back on track

Data from the National Pension Commission shows that the Pension ...
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Daily Watch – ECA dwindles to lowest point, Borno asks for 100k extra troops to end Boko Haram

The Nigeria Customs Service, in Kano and Jigawa states, has ...
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Daily Watch – Manufacturers kick against border closure, FG draws line with DisCos

The World Bank has approved about $2.2 billion (₦700 billion) ...
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Daily Watch – Inflation flirts with 2-year high, Nigeria loses big to oil theft

Nigeria’s state oil company and its joint venture partners have ...
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Daily Watch – National security tussle intensifies, Courts halt INEC’s deregistration

Data from the Advisory Power Team in the Office of ...
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Daily Watch – FG removes duties on same-owner transfers, Palm import rises as border closure bites

Data from Malaysian Palm Oil Council has shown that the ...
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Daily Watch – Supreme Court yanks Lyon, Crisis turns Cameroon trickle into a flood

The Supreme Court on Thursday nullified the election of Bayelsa ...
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Daily Watch – NSE takes final IPO steps, PMI growth track slows

Nigeria is considering a Eurobond sale of between $2.8 billion ...
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Daily Watch – CBN restricts forex on milk importation to 6 big boys, Nigeria, South Africa clash over AU position

One of South Africa's top trade negotiators has emerged as ...
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Daily Watch – Terrorists burn passengers to death, ECOWAS to investigate border closure

West African countries have agreed to conduct an investigation into ...
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Daily Watch – FG faces labour opposition over CPS designs, CDC investigates ‘unknown’ Benue disease

The Nigeria Centre for Disease Control said it is investigating ...
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Daily Watch – INEC prunes political parties, Mobile users to endure new restrictions

There are indications that network subscribers in Nigeria may no ...
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Daily Watch – Govt weapons help fuel Pastoral Conflict, Dangote Tomato comes back online

Nigeria expects its mining sector to account for 3% of ...
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Daily Watch – Reps reject China coronavirus repatriations, Gokada suffers major employee sweep

The federal government has introduced a multiple-entry, multi-year visa for ...
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Daily Watch – Interest rates head towards all-time low, FG sues Kebbi farmers

A Nigerian airline has launched daily flights between the capital, ...
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Daily Watch – Rail to see cargo boost, IFC downgrades Nigeria on investment

The International Finance Corporation has announced the downgrade of Nigeria ...
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Daily Watch – FG issues China travel advisory, Fintech is FDI’s hot magnet

The Debt Management Office said Nigeria’s debt to the World ...
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FG moots new seaports, Coronavirus fears spark Abuja supermarket closure

Spot demand was slim owing to the Chinese New Year ...
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Daily Watch – Boko Haram surprises Buhari, FG tosses fire into NDDC melee

Nigeria had no warning from Washington that it could be ...
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