A contentious debate is brewing in the House of Representatives as lawmakers prepare to deliberate on President Bola Tinubu’s $2.2 billion (₦1.77 trillion) external loan request to fund the ₦9.7 trillion deficit in the 2024 budget. The Senate has already approved the loan, leaving the House to make its decision this week. EDITOR’S PICKS Japa: … Read more
Donald Trump has nominated Scott Bessent to serve as the next Secretary of the U.S. Treasury, a key position overseeing tax policy, public debt management, international finance, and economic sanctions. The announcement concludes one of the lengthiest deliberations in Trump’s efforts to finalize his cabinet as he prepares for his second term in office. EDITOR’S … 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