By  Ayo Kehinde The Federal Government recorded fresh borrowings of N11.89 trillion in the first nine months of 2025 but spent only N3.10 trillion on capital projects within the same period, highlighting a widening gap between debt accumulation and infrastructure execution. This is according to the 2025 Third Quarter Budget Implementation Report released by the Budget Office of the Federation. The report showed that total borrowing exceeded the government’s three-quarter projection of N10.34 trillion by N1.54 trillion, representing an increase of 14.91 percent. However, capital expenditure performance remained significantly weak. Out of the N17.58 trillion budgeted for capital projects during the period, only N3.10 trillion was utilised, representing just 17.66 percent implementation and leaving a shortfall of N14.48 trillion. The …
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By Ayo Kehinde Nigeria recorded a sharp surge in foreign portfolio investment inflows in January 2026, with speculative capital, popularly known as hot money, rising to $3.37 billion and accounting for nearly 96 percent of total capital imported into the economy. According to the latest Economic Report released by the Central Bank of Nigeria (CBN), total capital inflows climbed to $3.52 billion in January, representing a remarkable 181.6 percent increase from the $1.25 billion recorded in December 2025. The report attributed the massive inflow largely to growing foreign investors’ appetite for Nigerian bonds and money market instruments, driven by improving macroeconomic conditions, exchange rate stability, easing inflationary pressures, and stronger external sector fundamentals. The United States and the United Kingdom …
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