loans

We Can Justify Every Debt Incurred Under Buhari – Fashola

August 26, 2022 6:45 am

Nigeria’s Minister of Works and Housing, Babatunde Fashola, has claimed that the Buhari administration has been able to provide validation to all the debts it has borrowed by constructing various infrastructures across the country.

Fashola made this known while speaking at the closing ceremony of the 28th National Council of Works meeting held in Kano on Friday.

He said the ongoing projects across the country had justified the debts, especially when compared with what the previous administrations had done.

‘Our first budget in 2016 was over N250bn, up from the N18 billion we met in 2015. That was an …

Reckless, Endless Borrowing, A Recipe For Disaster – Atiku

August 17, 2022 6:02 am

The Presidential candidate of the Peoples’ Democratic Party (PDP), Atiku Abubakar has expressed sadness that the leadership of the All Progressive Congress was still advocating for reckless borrowing amidst an economic tailspin which Nigeria was currently grappling with.

The Vice President of Nigeria pointed out that despite several warnings by the Peoples Democratic Party Presidential Candidate, Atiku Abubakar, who has consistently earned against the unwise decision by the current administration to engage of such borrowing.

Mr. Paul Ibe who is the Media Adviser to the PDP candidate said this in a chat with reporters on Wednesday, in Abuja, on Tuesday.…

Show Evidence Of Money You Borrowed, Wike Berates FG

December 11, 2021 2:04 am

The Governor of Rivers State, Nyesom Wike has challenged the Federal Government to show evidence where it has deployed all the money it has borrowed so far from external creditors.

He posited that Nigeria has enormous resources and if well managed, can change, not only the fortunes of the country but the life of every Nigerian.

The governor issued the challenge when he spoke at the inauguration of the Rumuola flyover bridge by former governor of Ondo State, Olusegun Mimiko, in Port Harcourt, yesterday.

He pointed out that his administration was propelled by love and commitment to service, which is …

Kenyans Writes IMF To Stop Loaning Their Country

April 6, 2021 4:51 am

Kenyans have begun signing an online petition asking the International Monetary Fund (IMF) not to allow their Government the opportunity to borrow more loans citing corruption.

Kenyans have circulated the online petition link through the hashtag #StopLoaningKenya, while also giving more reasons why no more lending should occur.

The discussion started days after IMF approved a 257B Kenyan shillings ($2.4bn;£1.7bn) loan for Kenya to aid in the Covid-19 response.

Read Also: G20 Reacts To Bill Gate’s Call To Fund COVID-19 Battle

Kenya’s public debt has grown by more than 1 trillion shillings in the last year.

Kenyans online have …

Our Properties Will Be Seized By Banks Over Loans – Ex-Militants

May 24, 2020 1:09 pm

Some Ex-militant leaders in the Niger Delta region have called on the Interim Management Committee of the Niger Delta Development Commission (NDDC), to pay contractors to avoid threats of home and other property forfeiture to banks over unpaid loans.

The group also lamented untold hardship following certified completion of work without pay.

The Ex-militant leaders, under the aegis of the Leadership, Peace and Cultural Development Initiative (LPCDI), called on the NDDC to help stop the psychological pains being inflicted on contractors and commence the payment of contractors who have completed their projects under their contractual obligations, especially ”emergency contracts”.

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Why Nigerians Are Skeptical About Fresh Loans

December 21, 2019 3:44 am

Fellow Nigerians, I have a plea to make very humbly today. But before I do so, allow me to offer some explanations. I have no problems with the government of President Muhammadu Buhari seeking and accepting loans from anywhere on planet earth. I’m a realist and I know Nigeria needs all the grants, aid, loans and whatever financial benevolence it can get to eliminate the atrocious infrastructure deficits currently plaguing our dear beloved country. There is no miracle that can change our squalid state in the shortest possible time. Nigeria is not alone in trying to use loans to rescue …

Bank of Industry disbursed over ₦270 billion loans in 2018

June 16, 2019 12:07 am

The Bank of Industry (BoI) disbursed over N270billion in 2018, the Executive Director, Large Enterprises, Bank of Industry, Mr. Simon Aranonu has said.

Speaking in an interview with The Nation at the weekend, he said, the Bank generated a total of N36billioin as profit within the same period, as against N22 billion made in the previous year.

According to Aranonu, BoI in the last 18 months has also grown its balance sheet from N700b in 2017 to N1.1trillion as of Dec 31 2018.

While commenting on the modus operandi deployed by the Bank to resolve loan repayment, Aranonu revealed that …