The Nigeria Communication Satellite Limited (NigComSat) has partnered with Hotspot Network Limited to bring internet access to rural communities in Nigeria. The CEO of NigComSat, Mrs. Jane Egerton-Idehen, shared this news over the weekend while discussing her recent activities. She explained that NigComSat and Hotspot Network will use their combined strengths to provide internet connections […]

The Debt Management Office (DMO) has clarified the factors contributing to the recent increase in Nigeria’s debt stock, attributing the rise primarily to approved new borrowings and changes in the naira exchange rate. In a statement obtained yesterday, the DMO noted that the debt growth resulted from authorized new external and domestic borrowing, alongside the […]

The World Bank plans to supervise Nigeria’s $500 million electricity loan from July 8 to 12, 2024, aimed at enhancing the country’s electricity distribution sector. The Nigeria Distribution Sector Recovery Program was approved by the World Bank Board on February 4, 2021, and became effective on February 2, 2023. According to the latest Implementation Status […]

Segun Aremu, a financial expert, stated that the increase in Nigeria’s Foreign Exchange Reserve and its growing debt are not necessarily linked but may intersect in the long run. Segun made these comments in an exclusive interview with our correspondent in response to reports that Nigeria’s foreign exchange reserves had reached $33.58 billion – the […]