A group of suppliers of fertilizers to Nigerian farmers under the President Goodluck Jonathan administration has faulted the claim by the Presidency that N65 billion owed the suppliers have been paid by the current administration. Growth Enhancement Scheme Agrodealers Association of Nigeria (GESAAN) said only N25 billion of the amount was paid, contrary to the […]
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An acute shortage of foreign currencies across the country may have forced some overseas suppliers of Premium Motor Spirit (PMS) popularly called petrol to suspend further supply of the commodity to Nigeria, over a $985 million debt overhang, Daily Sun reports. Their decision to cut supplies to Nigerian customers may not be unconnected with the […]
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It has been revealed that the Federal Government deducted a total sum of N32bn from allocations of states from the Federation Account in the month of April 2016 for different debts they incurred especially through loans. In a report by the Economic Confidential, Osun state was worse hit by the development and ranks number one, […]
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Consumer Rights Advancement Organisation has appealed to the Federal Government to stop electricity generation companies from shutting down their operations over N156 billion debts. The GenCos, in newspaper advertisements on Aug. 8, threatened to shut down their plants over N156 billion debts owed by some government agencies. Mr Adeolu Ogunbanjo, the President of CRADO, a […]
Read More The Federal Government spent a total of N446.44bn to service the nation’s domestic and external debts between January and April this year, figures obtained from the Federal Ministry of Finance have revealed. In a report by Punchng, the figures are contained in the Consolidated Income and Disbursement Account of the Federal Government for the first […]
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Nigerian National Petroleum Corporation’s (NNPC’s ) debt overhang in cash calls to multinational and indigenous oil companies it operates Joint Venture (JV) project with, has reached about $7billion, The Nation report. Cash calls is the counterpart funding the NNPC pays yearly for the 60 per cent equity shareholding it owns in various oil and gas […]
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RAPPER and fashion designer Kanye West, who says he is $53 million in debt, has asked Facebook Inc’s Chief Executive Officer Mark Zuckerberg to invest $1 billion into his “ideas.” West asked his Twitter followers to urge Zuckerberg to support him. “World, please tweet, FaceTime, Facebook, Instagram, whatever you gotta do to get Mark to […]
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