The Senate has warned of imminent nationwide protests by Nigerians except the Federal Government immediately moves to address the acute food crisis in the country. It also revealed that the various Federal Government-owned food reserves across the country were empty, warning that Nigerians could no longer bear the acute hunger. The issues were raised when the Senate considered a motion tagged: “Urgent need to address food insecurity and market exploitation of consumables in Nigeria,” co-sponsored by Ali Ndume. Ndume in his argument, said beside Sudan, “in the North, we have started seeing hunger. People can’t go to the farm. Even…

In the first half of 2024, the Federal Government significantly ramped up its borrowings from the capital market, which stood at N8.48 trillion. This marks an 11.9% increase from the N7.58 trillion borrowed in the same period of 2023. According to Cordros Securities’ H2 2024 Outlook titled “Bridging Reforms to Recovery/Financial Market Review and Outlook,” the borrowings were divided between bond auctions and net treasury bills (NTBs) issuances. The report detailed that bond issuances amounted to N3.83 trillion, representing 69.7% of the volume borrowed throughout the 2023 fiscal year. Meanwhile, net primary market treasury issuances totaled N4.65 trillion, 122.9% higher…