ABUJA — President Muhammadu Buhari has again shown that he is a compassionate leader with his approval of a 4th multi-billion naira bailout for states in six years. The Buhari Media Organisation said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, that the decision to disburse N656billion to be shared among the 36 States as budget support facility was totally unexpected. According to the group, “we were pleasantly surprised when...

A sum of N5000 will be given to citizens monthly for transportation when fuel subsidy is removed according to Zainab Ahmed, minister of finance, budget, and national planning. The minister disclosed that the FG intends to remove fuel subsidies by 2022 and replace them with a N5000-a-month transportation grant to the poorest Nigerians. Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister explained that the grant will go...

LAGOS — Some financial analysts have urged the Federal Government to tackle the supply-side constraints in the productive sector to further reduce the country’s inflation rate. They said this in separate interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos. They said that supply-side constraints such as foreign exchange illiquidity, transport, and logistics cost, currency depreciation, and agriculture-related insecurity, and others were the driving forces of inflation. Mr. Titus Okurounmi, a former...

LAGOS — Senate President Ahmad Lawan has disclosed that the National Assembly will pass the 2022 Appropriation Bill before Christmas. Lawan made the disclosure on Friday night, while receiving the New Telegraph’s Lifetime Achievement Award in Politics, alongside other Nigerians who had distinguished themselves in public service and the private sector. “ This is my fourth term in the Senate; when we came in 2019, our colleagues decided to give us the opportunity to serve...

ABUJA — A total of N150 billion bonds will be offered for subscription in November on behalf of the federal government according to the Debt Management Office (DMO) In a circular issued on Thursday, the agency said the bonds will consist of three equal tranches worth N50 billion each. The tranche is a 10-year reopening which will mature in January 2026 at the rate of 12.50%; the second is a 20-year reopening which will mature...