Nigeria’s 2021 spending plan published by the budget office suggests a higher deficit as its expected government revenue is pegged at 7.49 trillion naira as against an estimated 12.65 trillion naira expenses.
Nigeria is requesting for a total of $6.9 billion loan from multilateral lenders to counter the impact of the coronavirus outbreak. With Nigeria's total debt at 27.4 trillion naira, can the economy sustain more debt at these levels? Egie Akpata, Director of UCML Capital joins CNBC Africa for more.
An International Monetary Fund (IMF) team on a technical assistance mission recently met with Nigeria's Debt Management Office to discuss Nigeria's Medium Term Debt Management Strategy. Meanwhile, Nigeria is aiming to earn at least 80 per cent of revenues from non-oil sources in the next three years. Egie Akpata, Director of Union Capital Markets joins me to discuss these stories and more.
Nigeria’s President Muhammadu Buhari is currently in South Africa where talks on trade, human capital development, security and more are being held with South African President Cyril Ramaphosa. To assess Nigeria and South Africa’s trade relations Egie Akpata, Director at Union Capital Markets and CNBC Africa reporter Karabo Letlhatlha give insight into this state visit.
Despite concerns on the state of Nigeria’s debt, the country’s Finance Minister Zainab Ahmed, has said that Nigeria has a revenue problem and not a debt problem. Egie Akpata, Director of Union Capital Markets joins CNBC Africa for more.
Nigeria’s Monetary Policy Committee says tightening the monetary policy should not be an option right now, as all members voted unanimously to hold the benchmark interest rate at 13.5 per cent. Egie Akpata, Director of Union Capital Markets joins CNBC Africa for more.
Nigeria’s Monetary Policy Committee has asked the Central Bank of Nigeria to design a comprehensive, legal and regulatory framework that will improve the recovery of non-performing loans in the banking system. Egie Akpata, Director at Union Capital Markets joins CNBC Africa to discuss this story.
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