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The federal government spent $3.57 billion servicing the country’s foreign debt in the first nine months of 2024. According to data obtained from the Central Bank of Nigeria (CBN) report on international payment statistics, the federal government debt service increased by 39.7 percent from the $2.56 billion spent during the same period in 2023. The data showed that the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.36 million, while the highest monthly expenditure in 2023 was $641.69 million recorded in July. A monthly breakdown of international debt figures for 2024 showed that in January, debt…
The Nigerian Railway Corporation (NRC) has announced an increase in its Abuja-Kaduna train services from four to six trips daily, running from Monday to Friday. This expansion is aimed at meeting the growing demand for train services on the route. The acting Managing Director of the NRC, Ben Iloanusi, confirmed the development in a statement issued on Wednesday in Lagos. The statement, signed by Yakub Mohmood, Deputy Director of Public Relations at the NRC, highlighted the corporation’s commitment to improving customer satisfaction and addressing complaints of ticket racketeering. “The Nigerian Railway Corporation (NRC) has increased the number of train services…
Olubunmi Tunji-Ojo, minister of interior, says the ministry’s command and control centre established to curb the illegal entry of foreigners into the country is fully active. Speaking on Tuesday during his appearance on Politics Today, a Channels Television programme, Tunji-Ojo said the centre has commenced 24-hour operation since Monday. On October 28, the minister said the federal government planned to establish a command and control centre to check irregular migration into the country. He noted that the centre would be responsible for the rigorous screening of individuals entering Nigeria via land borders. “We did the induction programme about two weeks…
The The Nigeria Civil Aviation Authority (NCAA) has restricted licensed flight crew members from operating multiple airlines. NCAA issued the restriction, saying its findings shows that pilots and other crew members render services to different airlines. In a circular NCAA/DGCA/AOL dated November 6th 2024 and signed by the Ag. Director-General, Civil Aviation, Chris Najomo, declared the act as illegal. According to the circular, instances where pilots operate for more than one airline concurrently pose risk to safety. It said the licence issued to pilot or any member of the flight crew is operator-specific based on the approved Standards Operating Procedures…
Nigeria’s fiscal deficit continues to swell, with recent figures showing a budget deficit of 7.6% of GDP as of August 2024, outpacing the approved 3.8% target for the year. This was revealed in the personal statements of Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) members, who voiced concern over the growing gap between revenue generation and spending. At the start of 2024, the National Assembly approved a budget of N28.7 trillion with a revenue target of N19.5 trillion, leaving a budget deficit forecast of N9.1 trillion equivalent to about 3.8% of GDP. However, the deficit has surged well…
PRESS RELEASE My attention has just been drawn to a very saddening and worrisome development in Lagos State where some masked people were going about private schools inflicting five rounds of injections on underage children without parental consent. The US and its agents are notorious for spreading their LGBTQ+ and WOKE Agenda all over of Africa for the main purpose of killing off millions of Africans both male and female, young and old. A case in point is the visit of these masked individuals who were brought to the premises of Zrak Institute of Arabic Studies at Isheri Lagos and…
Despite widespread economic hardship and soaring inflation across the country, the Federal Government has allocated N5 billion towards the renovation of the vice president’s official residence in Lagos State. In the N2.17tn supplementary budget passed in November 2023, the Federal Government had budgeted N3bn for the renovation of the vice president’s official residence in Lagos State and another N2.5bn for the renovation of his official residence located within the Aso Rock Villa in Abuja. However, checks by our correspondent using GovSpend, a civic tech platform that tracks and analyses the Federal Government’s spending, showed that a total of N5,034,077,063 was…
Canada has announced that it will no longer automatically grant 10-year multiple-entry visas to tourists. The new guidelines, released by Immigration, Refugees and Citizenship Canada (IRCC), empower immigration officers to issue visas with shorter durations based on individual assessments, moving away from a default extended validity period. According to the IRCC, the change is part of a broader strategy to manage temporary immigration levels, address housing shortages, and control the rising cost of living. Under this revised policy, frequent visitors to Canada may face increased application costs and shorter-term visas, potentially affecting those who regularly travel for work or leisure.…
The national grid has collapsed for the second time in 72 hours, leaving Nigerians in total blackout. Data obtained from the Nigerian system operator’s portal showed that the grid recorded zero megawatts (MW) as of Thursday. TheCable observed that the generation power dropped from 3,743MW at 10am to 2,709MW at 11am. As of noon, the grid only recorded 3.70MW and 4.10MW at 1pm. The Transmission Company of Nigeria (TCN) has confirmed the incident. Ikeja Electric Distribution Company (IKEDC) said it is experiencing a system outage affecting its supply. “Please be informed that we experienced a system outage today 07 November,…
Nigeria was plunged into darkness on Tuesday after the national power grid collapsed for the tenth time in 2024, disrupting electricity supply across the country. The latest failure, which occurred around 1:52 pm, affected both northern and southern regions, causing widespread outages that continued into the afternoon. This latest collapse follows a troubling pattern of instability in the national grid. Since the beginning of the year, the grid has experienced multiple failures, including three separate collapses in just one week in October alone. On Tuesday, power generation dropped significantly from 3,631 megawatts at noon to 0.00 megawatts between 2 pm…
March 12, 2025

Nigeria's car imports fell 14.3% in 2024 amid economic woes

Nigeria experienced a significant decline in passenger vehicle imports in 2024, with total import value…
March 14, 2025

I know individuals in Tinubu’s govt who bought ministerial positions, El-Rufai claims

Former Kaduna State governor, Nasir El-Rufai, has revealed that he knows individuals who paid to…
March 14, 2025

How leaders train themselves to rethink and adapt faster

Paola Cecchi-Dimeglio Recognizing the value of rethinking is one thing—making it a habit is another.…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 14, 2025

What to know after Day 1114 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin lists guarantees Moscow wants for 30-day ceasefire Russian President Vladimir Putin has…
March 12, 2025

From chatbots to intelligent toys: How AI is booming in China

Laura Bicker Head in hands, eight-year-old Timmy muttered to himself as he tried to beat…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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