FG collects ₦20.59tn in 8 months Govt eyes $1.75bn new World Bank loans Economists warn total debt could hit ₦180tn The Federal Government plans to increase its borrowing despite a remarkable 40.5 per cent surge in revenue for the first eight months of 2025. According to a statement by Presidential Adviser Bayo Onanuga, the government’s … Read more
Money Mistakes Keeping You Broke Without Realizing It. Ignoring retirement savings and investments prevents long-term wealth growth. Cutting hidden costs and setting goals can improve financial health. Managing money is more about habits than how much you earn. Many people unknowingly fall into financial traps that make it harder to save, invest, or build wealth. … Read more
Disagreements emerged among National Assembly members on Monday over President Bola Tinubu’s requests for foreign loans, despite significant revenue surpluses reported by federal agencies for the 2024 fiscal year. The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, revealed during an interactive session with the National Assembly’s joint Committees on Finance, Budget, and … Read more
The Senate has approved President Bola Tinubu’s ₦1.77 trillion ($2.2b) loan request following a voice vote in favour of the proposal. The approval came after the Senate Committee on Local and Foreign Debts, led by Senator Wammako Magatarkada (APC, Sokoto North), presented its report. This loan request, submitted by the President on Tuesday, is part … Read more
The Nigerian Army has denied reports of a mass resignation by soldiers due to allegations of corruption and low morale. EKO HOT BLOG notes that in a statement released on Sunday, Army spokesperson Major General Onyema Nwachukwu called the reports misleading and accused them of being a deliberate attempt to create disaffection and damage the … Read more
Renowned Professor of Political Science, Bolaji Akinyemi, has urged President Bola Tinubu’s administration to exercise caution when engaging in deals with China. Speaking on Channels Television’s Sunday Politics programme, Akinyemi, who is also a former Director-General of the Nigerian Institute of International Affairs (NIIA), emphasized the importance of careful debt management. “Of course, we need … Read more
The Nigerian presidency has addressed recent concerns regarding the country’s debt situation under President Bola Tinubu. Contrary to reports suggesting an increase in Nigeria’s debt, the presidency revealed that the nation’s debt stock actually fell by 15% in dollar terms during the first quarter of 2024. This clarification was provided by Dada Olusegun, Special Assistant … Read more
The Federal Government raised N284.26 billion in its latest Treasury Bills auction amidst escalating debt levels, reflecting strong investor demand for safe-haven investments amid economic uncertainties. EKO HOT BLOG reports that The Federal Government, through the Central Bank of Nigeria (CBN), has successfully raised N284.26 billion in its latest Nigerian Treasury Bills auction, highlighting robust investor … Read more
Governor Otti reveals inheriting significant debt from predecessor, emphasizes responsible financial management. Pension arrears cleared, commitment to timely payment of entitlements reiterated. Focus on infrastructure development evident, with restoration efforts underway in neglected local government areas. EKO HOT BLOG reports that Abia State Governor, Alex Otti on Friday revealed that he inherited a debt of N192.2 … Read more