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Report: Naira Devaluation Added N43tn To Nigeria’s Debt Stock, Not Excessive Borrowing

Report says naira depreciation inflated Nigeria’s foreign debt valuation without equivalent increases in actual borrowing obligations. Nigeria’s debt sustainability concerns are driven more by elevated interest rates and exchange rate volatility than excessive new borrowing, according to a report by The Briefing – Macro & Markets.  The report countered growing...
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Tinubu Demands Global Financial Reforms, Says Africa Cannot Develop Under Current System

President Tinubu says Africa’s industrial future is being undermined by punitive global financial structures and unfair borrowing costs. President Bola Tinubu on Tuesday called for urgent reforms to the global financial architecture, warning that the current system is frustrating Africa’s industrialisation efforts and slowing the continent’s economic development. Speaking at...
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VP Shettima Commissions Akure Flyover, Hails Fasoranti’s Democratic Legacy At 100

Vice President Shettima has commissioned Akure’s first flyover and praised Pa Fasoranti’s lifelong commitment to justice and democracy. Vice President Kashim Shettima on Monday commissioned the Onyearugbulem–Shagari/Irese Road Flyover and Junction Improvement Project in Akure, describing it as a strategic infrastructure intervention expected to ease persistent traffic congestion and stimulate...
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