Economy

Nigeria’s Debt Interest Soars 124% Above Revenue as Capital Spending Drops to N700bn

By The Insight Team October 15, 2026 103 0

Key Points: FG spent N7.7trn on interest, exceeding N6.2trn revenue by 124% — World Bank. Interest up 37.5%, capital spending down to N700bn — 11 times less. Interest and salaries gulped 74% of FG’s total N16.1trn spending. Nigeria’s debt now N177trn, up from N67trn in 2021.   By Emmanuel Kwada The Federal Government spent N7.7tn […]Continue Reading

Banking

Infinity Trust Secures N5bn from  MREIF to Expand Mortgages

By The Insight Team June 11, 2025 760

Infinity Trust Mortgage Bank Plc (ITMB) has secured a N5bn facility from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to boost access to affordable housing across Nigeria. The Federal Government-backed initiative, administered by ARM Investment Managers, is designed to improve mortgage availability for low- and middle-income earners and aligns Continue Reading

Banking Blogs Business Media Photos Top Story

FIRS breaks Its 2021 record, collects N10.1 trillion In 2022

By The Insight Team January 23, 2023 849 0

By Daniel Adaji The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded in its history.   The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami, and […]Continue Reading

Arts Banking Blogs Business Education Entertainment Fact Check Interviews Investigations Media Opinions Top Story Zenith Bank, Cross Rivers, Nigeria, Banking, Economy

Data show inflation is high in debt-ridden Kogi State

By The Insight Team August 24, 2022 1306 Post a comment

By Daniel Adaji The National Bureau of Statistics (NBS) data from January to June, 2022 indicate that inflation rate is higher in Kogi State than in relatively developed states like Kano, Lagos, Port Rivers and even the Federal Capital Territory (FCT), Abuja. An agrarian state, with a lot of civil servants, it is surprising that […]Continue Reading

Blogs Features Investigations Media Opinions Top Story

Sad Return to Broken Chains

By The Insight Team February 3, 2021 1068 0

By Eric Teniola In June 2005 we were so ecstatic in celebrating the debt relief offered us, a relief of over $20billion, which was beyond the total revenue of Nigeria for one year. So happy were we that President Olusegun Obasanjo, GCFR, had to make a broadcast to the nation on June 30, 2005. He […]Continue Reading

Business Fact Check Features Investigations Opinions Top Story

Nigeria-China loans: This is my story

By The Insight Team August 11, 2020 945 0

By Theophilus Abbah A hot and deadly arrow flying across Nigeria over Chinese loans hit my heart and mind last Friday, destabilizing my weekend, and leaving me with bleary eyes. The arrow was very devastating because, like every victim of misfortune, I did not forecast it. As the debate on the sovereignty clause in Chinese […]Continue Reading