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Senate Okays FG s Request for $1 5bn, €995m External Loans

By Deji Elumoye and Udora Orizu The Senate yesterday gave the federal government the nod to borrow a total of $2.7 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May last year. The external loans comprise $1.5 billion, to be sourced from the World Bank, and €995 million ($1.2 billion) from other international agencies, for the federal and state governments. If the loans are accessed, it will jack up Nigeria’s total public debt, which as of December 31, 2020 was N32.915 trillion ($84.574 billion), according to data from the Debt Management Office (DMO). Of this, 37.82 per cent was external, while the balance of 62.18 per cent was domestic.

First Quarter Report: Goods Worth Over ₦1 2bn Seized In Imo

  The Federal Operations Unit (Zone C) of the Nigeria Customs Service (NCS), has seized contraband items valued over ₦1.2 billion in Owerri, the Imo State capital. Briefing journalists in the state on Wednesday, the Customs Area Controller (CAC), Comptroller Yusuf Lawal, said the seizure was made from January to March. The items which included foreign parboiled rice, frozen poultry products, drugs, second-hand clothing, live ammunition, soaps, exotic cars, were intercepted in states of the South-South and South-East, which covers Zone C. “Following our anti-smuggling drives, between January to March 2021, we have intercepted various contraband within our areas of jurisdiction which covers South-South/South-East zones with a duty paid value of ₦1,280,885,011,” he said.


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Scarcity of foreign rice hits markets in Abuja, Jigawa

Scarcity of foreign rice hits markets in Abuja, Jigawa
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