Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (...
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
Dr Obafemi Hamzat, Lagos State Deputy Governor on Tuesday urged religious leaders to propagate peace and morals so as to avoid disintegration but engender unity among Nigerians. Hamzat made the appeal during the 40-day Fidau prayer for late Alhaji Lateef Jakande, former governor of the state. He said that religion, being the strongest pillar in Nigeria, had the people’s heart and respect. He charged the clerics to help the citizens to act in accordance with the norms of the society and shun all anti-social vices. The deputy-governor also implored the clergymen to propagate the gospel of a better use of Lagos roads by urging motorist to avoid driving against traffic. “People respect their religious leaders and they do listen to them. “So, please do not leave the preaching of moral values to...
Some environmentalists on Monday said that unwholesome human activities had reduced the nation’s forest resources to less than 25 per cent. The environment experts made the assertion during an event in Lagos State to commemorate the 2021 World Forest Day, held every March 21, to raise public consciousness on conservation of forests. Newsmen report that the theme of the 2021 edition is “Forest Recovery, a Path and Wellbeing’’. The environmentalists, who envisaged danger as a result of depletion of forests, advised Nigerians to always replenish nature, whenever their activities caused violation of nature. At the event, Executive Director, Sustainable Research and Action for Environmental Development, Nigeria, Dr Leslie Adogame, said “with reduced forestry resources the human habitat is under...
The Anti Crime Patrol team attached to Ilasan Division of the Lagos State Police Command, Saturday, arrested two suspected armed robbers on Lekki-Epe Expressway by Jakande area of Lagos State. The suspects are: Okorocha Covenant, 28; and Adigun Jeremiah, 27, both of Badagry Area of the state. The police operatives were said to have intercepted three gang members on a motorcycle. While two got nabbed, one escaped with the motorcycle at about 9.30pm of Saturday. “Upon arrest, one Beretta pistol with ammunition was recovered from them”, the State PPRO, CSP Olumuyiwa Adejobi, said in a statement issued on Sunday March 21 this year. In his reaction, the State Commissioner of Police, Hakeem Odumosu, ordered that the suspects be taken to the State Criminal Investigation Department, Panti, Yaba fo...
Member of the Lagos State House of Assembly, Mr AdbulSobur Olawale, has commended the Executive Chairman of Ajeromi Local Government, LG, Mr. Fatai Ayoola, management and staff members for the resilience to rebuild the Secretariat that was destroyed during the aftermath of the ENDSARS protest. Olawale, who is also the Chairman of, House Committee on Local Government and Community Relations, disclosed that the Secretariat was among those government facilities that were destroyed by hoodlums during the aftermath of the ENDSARS protest. In the same view, the lawmaker applauded Council Chairman of Ifelodun Local Council Development Area, LCDA, Mr Shaibu Ajidagba for building the legislative chamber during his tenure in office. Speaking with journalists, after the oversight function to both Aje...
The Transmission Company of Nigeria (TCN) says it has completed the construction of a new transmission tower in Ajah, Lagos state. The TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, disclosed this in a statement in Abuja on Thursday. Mbah said that TCN has also strung the old and a new 330 kilovolts Egbin – Ajah transmission lines, adding that both lines have been energised. She said that the new line increased the transmission lines capacity on that line route by 600 Megawatts (MW) bringing it to a total of 1,200MW. “The old line was re-energised on March 13 while the new line was energised on March 15. “Prior to resuscitation of the second Egbin-Ajah Transmission Line, the Aja 330/132/33kV Substation operated through a single circuit 330kV transmission line. “Within the period, t...
The Department of Petroleum Resources (DPR) says it has intensified surveillance of filling stations in Lagos State to ensure compliance with the approved pump price band for Premium Motor Spirit (PMS). Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos, made this known after an inspection visit to some petrol stations located in Ikoyi, Victoria Island and Lekki areas of the state. Newsmen report that the Federal Government had on March 12 denied the increment of petrol to N212 per litre and had directed marketers to revert to the old price regime. Cardoso said the seven petrol stations inspected were selling fuel to customers between N162 to N165 per litre which was the approved price band. “This surveillance visit is part of our regular function and we are coming out today to c...