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NUC, World Bank sign $65 m deal to boost varsity governance standards

The National Universities Commission on Wednesday signed additional $65m performance contracts with Vice-Chancellors of participating universities under the World Bank-backed Sustainable Procurement, Environmental and Social Standards Enhancement Project, aimed at strengthening procurement, environmental, and social governance standards nationwide. The signing ceremony, held in Abuja, brought together officials of the NUC, the Bureau of Public Procurement, […]

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May 13, 2026
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Breaking News

FG, World Bank in talks over second-largest $1.25bn loan

The Federal Government has stepped up engagement with the World Bank for a fresh $1.25bn loan to support economic reforms, job creation, and competitiveness, as findings by The PUNCH showed that the facility has reached a critical stage in the lender’s approval process. The proposed loan, titled Nigeria Actions for Investment and Jobs Acceleration, is […]

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May 12, 2026
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World

FG Threatens To Cancel World Bank Loans Delayed Beyond Six Months

The Federal Government has called on the World Bank to expedite the approval and disbursement of project funds to Nigeria, threatening to cancel any of the loans delayed beyond six months. A statement by the Director, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, on Friday, noted that the […]

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May 9, 2026
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Breaking News

Senate Approves Tinubu’s $516m Loan Request

The Senate has approved a $516 million syndicated loan request by President Bola Tinubu to fund the construction of Section 1, Phases 1A and 1B of the Sokoto–Badagry Super Highway. The approval followed the consideration of a report during plenary, presented by the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko. […]

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April 29, 2026
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Breaking News

FG borrows N2.69tn from bond market in three months

The Federal Government borrowed N2.69tn from the domestic bond market in the first quarter of 2026, as strong investor demand continued to drive subscriptions above offer levels despite tighter allotments, an analysis of Debt Management Office auction results has shown. Data from the DMO for January, February, and March 2026 indicated that the total was […]

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April 24, 2026
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Breaking News

‘Why are we still borrowing?’, Sanusi questions FG’s debt rise despite subsidy removal

In an assessment of Nigeria’s current fiscal trajectory, the Emir of Kano, Muhammadu Sanusi II, has questioned the Federal Government’s continued reliance on borrowing despite the removal of the petrol subsidy. Speaking in an interview posted by News Central TV on Friday, the former Governor of the Central Bank of Nigeria, stated that while the […]

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April 24, 2026
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Economy

Atiku, economists raise concern over Tinubu’s $516m loan request

Former Vice President Atiku Abubakar and economists have raised concerns over President Bola Tinubu’s request for Senate approval of a fresh $516m external loan to fund sections of the Sokoto–Badagry Super Highway. The President had written to the Senate seeking approval for a $516,333,070 external loan to finance parts of the 1,000-kilometre highway project, a […]

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April 24, 2026
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Economy

UPDATED: Tinubu Seeks Senate’s Approval Of $516m Fresh Loan For Sokoto–Badagry Highway

President Bola Tinubu has formally written to the Senate, seeking approval for a $516.3 million foreign syndicated loan to support the construction of the Sokoto–Badagry highway. In a communication read by the President of the Senate, Godswill Akpabio, on Thursday, President Tinubu requested a resolution in line with Sections 16 and 21 of the Debt […]

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April 24, 2026
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Breaking News

FG plans to borrow N700bn via April bonds

The Federal Government plans to raise N700bn from the domestic bond market in April 2026, extending a gradual reduction in offer size as it continues to navigate elevated borrowing costs. Details from the April 2026 Federal Government of Nigeria Bond Offer Circular issued by the Debt Management Office showed that the auction is scheduled for […]

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April 23, 2026
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