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Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.

NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.

Senate Approves ₦1.81 Trillion Budget to Tackle Security, Infrastructure in Nigeria’s Capital

KEY POINTS The Nigerian Senate approved a ₦1.81 trillion budget for the FCT in...

6 Everyday Struggles of the Nigerian Middle Class

KEY POINTS Rising living costs impact the middle class. Poor infrastructure hinders daily life. ...

Nigeria’s Cocoa Plants Struggle, Operating at Just 8% Capacity

Nigeria's cocoa processing plants struggle with infrastructure and financial challenges, operating at just 8% capacity. Efforts to revitalize the sector are underway.

Obasanjo Meets Southeast Governors: Focus on Regional Development

Former Nigerian President Obasanjo clarifies his meeting with Southeast governors, stating the focus was on regional development issues like security, infrastructure, and economic growth, not Nnamdi Kanu's release.

Nigerian Minister Defends Lagos-Calabar Highway Project

Nigerian Works Minister David Umahi defends the Lagos-Calabar Coastal Highway project, calling critics who question its funding and economic viability "unpatriotic." The project is expected to improve connectivity between Nigeria's economic hubs and boost national growth.

Lagos Slips to 5th Place Among Africa’s Wealthiest Cities

Lagos, Nigeria's economic powerhouse, has seen a decline in its ranking among Africa's wealthiest...

Tinubu Receives South-South Monarchs, Promises to Address Their Grievances

Nigeria’s President Bola Tinubu met with a delegation of traditional rulers from the South-South...

Senate Pushes for Modern Rail Line in Eastern Nigeria

The Nigerian Senate has urged the federal government to upgrade the Eastern Rail Line...

Lagos to Build Africa’s Second Longest Bridge by 2027

Lagos, Nigeria’s commercial capital, is set to construct a 38-kilometer-long bridge that will connect...

FEC Greenlights N2.17trn 2023 Supplementary Budget

The Federal Executive Council (FEC) approved a N2.17 trillion supplementary budget for 2023. This...

FEC Greenlights Ijora Workshop Concession, Eyes N28.1bn Boost

The Federal Executive Council (FEC) has endorsed a landmark concession, entrusting the Central Workshop...

EU Pledges €150 Billion for Nigeria and Africa’s Infrastructure Development by 2027

The European Union (EU) has announced a new initiative to boost infrastructure development in...

Latest articles

Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.

NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.

Suspected Boko Haram terrorists kill 15 farmers gathering firewood in Borno’s Marte area, three still missing

Suspected Boko Haram terrorists have killed 15 farmers working their fields and gathering firewood in Marte, Borno State, with police searching for three still missing.

N50 million each: Families of 19 abducted NYSC graduates face N950 million ransom demand

Kidnappers are demanding N950 million, or N50 million each, for 19 prospective corps members abducted on the Owerri-Onitsha Road in Imo State on Thursday.