Economy
Why Borrowing Under Buhari Has Increased—Finance Minister

By Modupe Gbadeyanka
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has explained why the administration of President Muhammadu Buhari has embarked on huge borrowing since he came into power on May 29, 2019.
The Minister, in a statement issued by her Special Adviser on Media and Communications, Mr Yunusa Tanko Abdullahi, on Monday disclosed that the borrowing has increased because of Mr Buhari’s desire to invest in public infrastructure, which will boost the economy and attract foreign investors like MoneyBrighter and others.
Mrs Ahmed said the President, recognising the importance of infrastructure from his first day in office, prioritised infrastructure provision and upgrade by ensuring that resources are adequately mobilised for infrastructure provision. If you are unaware of how to get an llc, then consider checking out startmyllc website.
She noted that engaging in such huge public investment in infrastructure requires a management system and structure that will ensure that government gets value for money spent, hence, the need to set up public investment management units.
“In a developing economy such as ours, the provision of infrastructure is usually a cardinal objective. This is mainly due to the multiplier effect of the provision of roads, rails, schools, hospitals, etc. on the growth and development of the economy,” she said.
“This is even very compelling given that the government has had to increase its borrowing to fund these public investments in infrastructure owing to revenue challenges. Thus, because public investment refers to government’s spending on infrastructure, its management literally means the process of handling expenditures to ensure that government gets value for its investments,” Mrs added when she spoke at a two-day retreat held last week by the Budget Office of the Federation (BOF)/National Assembly Appropriation Committee on the Budget Process with focus on Strengthening Public Investment Management (PIM).
The Minister submitted that strengthening public investment will come easy with commitment, loyalty and collaborations between the parliament and the Ministry.
“For us to have a strong public investment management system that will help us reduce our infrastructure deficit, deepen our PFM reforms and assist in achieving the goals of our medium to long-term development plans, the executive and the legislature must perform their separate roles effectively while also collaborating to ensure overall success.
“The role of both the executive and legislative cannot be overemphasised. As we all know; the budget is the main fiscal policy instrument through which public investment in infrastructure is carried out by the government.
“Besides, ensuring adequate provisions of resources for public investment in infrastructure in key sectors of the economy is one of the key points of our medium-term expenditure framework which forms the basis for preparing the annual budget in line with provisions of the Fiscal Responsibility Act 2007,” she said.
“Since the coming on board of this administration, the BOF has taken several steps aimed at ensuring allocative efficiency of resources as well as transparency in budget implementation and reporting.
“For example, the government’s commitment to achieving transparency in public expenditure is reflected in the progress that we have made since the country signed up to the open government partnership (OGP) in May 2016 as the 70th member country,” she added.
The Minister also noted that the oversight role of the legislative arm of government is particularly important for strengthening the public investment management system.
“Irrespective of the budgetary allocations, the lack of quality spending will erode the objectives of such high allocations.
“As such, the legislature, using its instrumentality of the oversight function, can help improve the quality of government’s spending on infrastructure. This usually complements the monitoring efforts of the Ministry of Finance, Budget and National Planning,” she noted further.
Mrs Ahmed disclosed that PIM Units have now been established across the Sub-Saharan Africa (SSA) region, noting that, “These units are usually located in a country’s Ministry of Finance or the Ministry of Planning or Economic Development.
“Their purpose is to strengthen the appraisal, selection and implementation of infrastructure projects that many countries are (or will be) using to boost the economic recovery from the COVID-19 pandemic.”
Economy
Why It’s the Best Bitcoin Wallet and Best Crypto Wallet for 2025

In a fast-evolving world of cryptocurrencies, where innovation and security are paramount, choosing the right wallet can make all the difference. With hundreds of options available, finding a platform that balances functionality, safety, and user experience is no easy feat. Among the contenders, Guarda Wallet has consistently risen to the top, earning a reputation as the best bitcoin wallet and arguably the best crypto wallet on the market today.
Whether you’re a seasoned trader, a long-term investor, or someone just stepping into the realm of digital currencies, Guarda Wallet offers a compelling solution for managing your digital wealth.
What is Guarda Wallet?
Guarda Wallet is a non-custodial, multi-platform cryptocurrency wallet that supports a wide range of digital assets. Founded in 2017, Guarda has built a strong reputation based on its core values of user autonomy, security, and convenience. Being non-custodial means that users retain full control over their private keys, reinforcing the true essence of decentralization.
Available as a web, desktop, mobile, and even Chrome extension app, Guarda offers users seamless access to their crypto holdings anytime and anywhere. It supports over 400,000 tokens and 50+ major blockchains, including Bitcoin, Ethereum, Binance Smart Chain, Cardano, Solana, and more.
Why Guarda is the Best Bitcoin Wallet
Bitcoin remains the cornerstone of the crypto world, often referred to as digital gold. As such, any wallet vying for the title of the best bitcoin wallet must deliver exceptional security, fast transactions, ease of use, and robust support for Bitcoin-specific functionalities. Here's why Guarda ticks all the right boxes:
1. Security First, Always
Guarda Wallet takes user security extremely seriously. Since it's non-custodial, no private keys are stored on the company's servers. All keys are generated and stored locally on the user’s device, minimizing the risk of centralized hacks. Additionally, the wallet supports backup encryption, biometric authentication, and password protection, ensuring multiple layers of safety for Bitcoin holders.
2. User-Friendly Interface
Whether you are a beginner or an expert, Guarda’s interface is clean, intuitive, and easy to navigate. It makes sending, receiving, and storing Bitcoin a smooth and hassle-free process. The wallet also offers in-app tutorials and prompts that guide new users step by step.
3. Integrated Exchange and Purchase Options
Guarda goes beyond simple storage. It allows users to buy Bitcoin with a credit card or bank transfer directly in the wallet. You can also swap BTC for other cryptocurrencies without needing to leave the app. These features make Guarda a one-stop-shop for anyone looking to maximize their crypto experience.
4. Multisignature Capabilities and Advanced Features
Guarda Wallet includes multisig functionality, which is especially useful for institutional users or those managing large Bitcoin holdings. Multisig wallets require multiple private keys to authorize a transaction, adding an additional layer of security.
5. Constant Updates and Responsive Support
The development team behind Guarda is highly active and continually updates the platform to support the latest blockchain innovations. They also offer 24/7 customer support, an often-overlooked aspect that elevates Guarda to being the best bitcoin wallet for users who want reliability and peace of mind.
Why Guarda is Also the Best Crypto Wallet Overall
While Bitcoin may be the most well-known cryptocurrency, the world of crypto extends far beyond it. From DeFi tokens to NFTs and smart contracts, the need for a versatile wallet has never been greater. This is where Guarda Wallet shines as the best crypto wallet for managing a wide array of assets.
1. Multi-Asset Support
Guarda Wallet supports more than 50 blockchains and over 400,000 tokens. Whether it’s Ethereum, Litecoin, XRP, Dogecoin, or lesser-known ERC-20 and BEP-20 tokens, you can manage them all in one place. This makes Guarda an ideal solution for diversified crypto portfolios.
2. DeFi Integration
The rise of Decentralized Finance (DeFi) has changed the way users interact with crypto. Guarda integrates seamlessly with DeFi protocols, allowing users to stake, lend, and earn yields directly from the wallet. This makes it not just a storage solution, but a gateway to financial freedom and innovation.
Economy
NEITI Recovers N7.43bn Debt From Oil, Gas Firms

By Adedapo Adesanya
The Nigeria Extractive Industries Transparency Initiative (NEITI) has announced the recovery of N7.43 trillion (approximately $4.85 billion) from outstanding payments owed by oil and gas companies, following its industry-wide financial disclosures.
The recovery is part of the total $8.26 billion identified in NEITI’s 2021 oil and gas audit report.
This was disclosed by NEITI’s Executive Secretary, Mr Orji Orji, while speaking during a press briefing in Abuja over the weekend, noting that the recoveries demonstrate the agency’s commitment to transparency and accountability in Nigeria’s extractive sector.
The NEITI chief noted that while significant progress has been made in recovering funds, unresolved financial liabilities remain a major concern.
“So far, over $4.85 billion was recovered from the disclosures of $8.26 billion (made by NEITI in its 2021 oil and gas report. In the 2023 industry reports released in September 2024, NEITI disclosed liabilities of $6.175 billion and N66.378 billion, showing a significant decline from the liabilities of 2021 reports, yet worrisome because of the need for government to find resources to fund its 2025 budget,” Mr Orji stated.
He decried that despite NEITI’s efforts to ensure financial accountability in the oil and gas sector, several companies have continued to default on payments.
He called on relevant government bodies, including the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to take stronger enforcement actions against defaulters and adopt more stringent measures to prevent future revenue leakages.
“Analyses of how these liabilities, when paid, could support the federal government’s domestic revenue mobilization reveals that the liabilities, when converted at N1,500 to one dollar, would amount to N9.33 trillion.
“The sum is more than the federal government’s total budget for health, education, agriculture and food security, which totaled N8.73 trillion. Further analyses show that the sum is also more than the total budget for national security at N6.11 trillion, health at N2.48 trillion and social welfare of N724 billion all put together. The liabilities can also knock off about 72 per cent of the federal government’s budget deficit of N13 trillion for 2025.”
He called on relevant agencies responsible for collecting these revenues to do what is needed and support our governments at all levels to provide the much-needed infrastructure for our citizens,” he stated.
Mr Orji further disclosed plans to broaden the initiative’s industry-wide reports to include dedicated sections on divestments, forward sales of oil and gas assets, and environmental remediation.
This move, he noted, is aimed at strengthening transparency and accountability in the extractive sector.
He stated that while the agency’s current Beneficial Ownership data is up-to-date as of 2023, more work is needed to deepen engagements and public disclosures on companies acquiring divested assets.
Mr Orji highlighted challenges such as institutional constraints, funding limitations, and resistance to change.
He called for collective efforts from the media, civil society, and stakeholders to ensure that Nigeria’s oil, gas, and mining revenues are managed prudently for the benefit of all citizens.
“Transparency is not just a policy; it is a responsibility. NEITI remains steadfast in ensuring that Nigeria’s extractive revenues are accounted for and utilized effectively,” he added.
Economy
Nigeria Rakes N7.68trn Exporting Gas Products in 2024

By Adedapo Adesanya
Nigeria earned N7.68 trillion from the export of natural gas, liquefied petroleum gas and other gas products in 2024.
This showed an increase of 105.1 per cent from the N3.746 trillion earned from the sale of the commodities in 2023, data from the National Bureau of Statistics (NBS) in its Foreign Trade Statistics for the Fourth Quarter of 2024 noted.
It was revealed that gas export earnings accounted for 9.92 per cent of total exports recorded in the year under review versus the 10.42 per cent posted a year earlier.
Giving a breakdown of gas exports in 2024, the NBS reported that in the first quarter, the country recorded N1.437 trillion, N2.881 trillion was earned in the second quarter, while in the third and fourth quarter of 2024 stood at N35.845 billion and N3.329 trillion, respectively.
In comparison, the NBS stated that the country earned N668.119 billion, N711.1 billion, N1.109 trillion and N1.257 trillion from gas exports in the first, second, third and fourth quarter of 2023, respectively.
The NBS noted that the during the period under review, the country earned N1.943 trillion from natural gas exports, followed by other petroleum gases with N1.117 trillion, while Liquefied Petroleum Gas (LPG) trailed with N269.074 billion.
The agency disclosed that Nigeria exported Liquefied Petroleum Gas valued at N112.71 billion and Natural gas worth N83.655 billion to the Netherlands in the fourth quarter of 2024; while natural gas valued at N135.21 billion was exported to France.
It added that Spain purchased N345.118 billion worth of natural gas from Nigeria and N131.289 billion worth of other petroleum gas, while India purchased other petroleum gas and natural gas valued at N337.085 billion and N209.159 billion, respectively.
In Africa, the NBS noted that Nigeria sold N10.81 billion worth of Liquefied Petroleum Gas to the Ivory Coast in the fourth quarter of 2024.
Based on the entire data, the stats office disclosed that total foreign trade stood at N138.033 trillion in 2024; rising by 106.6 per cent, compared with N66.825 trillion in 2023.
It added that total exports stood at N77.442 trillion in 2024, rising by 115.3 per cent compared with N35.962 trillion in 2023; while total imports stood at N60.59 trillion in 2024, rising by 96.3 per cent from N30.863 trillion recorded in 2023.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN