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Director-General of the Budget Office of the Federation, Mr Tanimu Yakubu, says President Bola Tinubu’s economic reforms, widely referred to as Tinubunomics, were never designed or presented as a guarantee of instant abundance. Yakubu, in a statement on Sunday, said critics were drawing the wrong conclusions about the expected pace and nature of the reforms, […]
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NIGERIA held a $2.35 billion Eurobond sale on Wednesday to raise funds to meet several needs. But it was oversubscribed and attracted a record $13 billion orders mostly from international investors who wanted to participate in the market. This means that the nation wanted $2.35 billion from investors but received buy orders to the tune […]
PRESIDENT Bola Tinubu claimed on Tuesday in Abuja that Nigeria had met its revenue target for 2025 ahead of schedule and was no longer borrowing from local sources. Addressing stakeholders of the Buhari Organisation who visited him at the Presidential Villa in Abuja, President Tinubu boasted: “Today I can stand here before you to brag: […]
NIGERIA may be getting several things wrong but it is resilient when it comes to taking debt and repaying it, especially at rates that can be considered prohibitive. In the first quarter (Q1) of 2025, Africa’s most populous nation, repaid $759.577 million borrowed from international lenders, including the African Development Bank (AfDB), Exim Bank of […]
THE Bola Ahmed Tinubu administration has put Nigeria in huge debt as it has borrowed nearly N96 trillion in two years, sending shockwaves among citizens. He has submitted proposals at the National Assembly to borrow nearly N39 trillion from multilateral agencies in one fell swoop, taking the nation’s debt profile to nearly N183 trillion. On […]