The Senate has approved 516,333,700 dollar syndicated financing facility for the construction of Sokoto–Badagry Super Highway. This followed the consideration and adoption of the report of the Senate Committee on Local and Foreign Debts during plenary on Wednesday The approval followed a letter from President Bola Tinubu dated April 20, requesting legislative backing for external…
President Bola Ahmed Tinubu has requested the approval of the National Assembly to borrow ₦1.15 trillion from the domestic debt market to help finance the deficit in the 2025 federal budget. At the same time, the Debt Management Office (DMO) is preparing to raise $2.3 billion from the international capital market this week in what…
The Benue State Council of the Nigeria Union of Journalists (NUJ) has thrown its weight behind the state government’s N100 billion infrastructure development loan, describing it as a transformative initiative with the potential to boost key sectors of the state’s economy. In a communiqué issued at the end of its congress in Makurdi, signed by…
Nigeria’s Minister of Information, Alhaji Muhammed Idris, says the Nigerian Educational Loan Fund (NELFUND) was established to ensure that access to higher education is no longer determined by financial hardship. Speaking at a town hall meeting in Ibadan on Monday, Idris, represented by Oyo State information chief Moses Oyelade, said more than 5,000 students of…
French club Montpellier have announced the signing of Nigerian striker Victor Orakpo on loan from OGC Nice. Orakpo only linked up with Nice in January after impressing for Nigeria’s U-20 side at the 2024 FC Bayern Youth Cup. The youngster was named Most Valuable Player (MVP) at the competition. Orakpo also finished as scorer with…
Turkish giants Trabzonspor are closing in on a permanent deal for Nigerian forward Paul Onuachu, following a productive loan spell in which he netted 15 goals in 21 matches during the 2024/25 season. Sources familiar with the matter suggest the two clubs are nearing an agreement, with Trabzonspor offering €5 million to sign the striker…
The Federal Government says it has secured a loan facility of 134 million dollars from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country. The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made this known at the unveiling of the 2024/2025 National Dry Season Farming in…
President Bola Tinubu has written to the House of Representatives, requesting legislative approval for a new external borrowing plan of 21.5 billion dollars, alongside a domestic bond issuance of ₦757.9 billion for outstanding pension liabilities. The Speaker, Rep. Tajudeen Abbas read the request during plenary in Abuja. President Tinubu in the letter, highlighted the strategic…
The Nigerian Education Loan Fund (NELFUND) has mandated all tertiary institutions to reimburse tuition fees paid by students who were verified prior to receiving their loans. This directive aims to ensure that no verified student within the loan scheme is denied access to academic activities, including examinations, due to outstanding tuition payments. NELFUND’s Managing Director…
Gov Babajide Sanwo-Olu of Lagos State has unveiled the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) to provide access to finance for Small and Medium Scale Enterprises (SMEs) and registered cooperative societies in the state. Sanwo-Olu unveiled the initiative at the Adeyemi Bero Auditorium, Alausa, Ikeja, on Wednesday in partnership with Bank…
