Connect with us

News

N187 trillion debt: Obi decrees FG’s continuous borrowing without accountability

Published

on

Spread the love

The Labour Party (LP)’s presidential candidate in the 2023 general election, Peter Obi, has again decried what he described as President Bola Tinubu’s administration’s penchant for reckless borrowing without accountability.

Obi spoke in response to the latest external borrowing plan approved by the Senate.

The Nigerian Senate had approved another external borrowing of $21 billion, €2.2 billion, and ¥15 billion for the 2025–2026 fiscal cycle.

The former Anambra State governor noted that with the latest approval, Nigeria’s debt now stands at N187 trillion with palpable fear that it might climb to N200 trillion before the end of the year.

Writing on his X handle on Tuesday, Obi said, “On July 22, 2025, the Nigerian Senate approved an additional $21 billion, €2.2 billion, and ¥15 billion of external borrowing for the 2025–2026 fiscal cycle.

“It also approved a N750.98 billion domestic bond issuance and a €65.65 million grant. With an already existing public debt of about N149.39 trillion as of the first quarter of 2025, adding the approved loans of about N37.2 trillion brings our current total debt to about N187 trillion, with concerns that our debt might likely be over N200 trillion by the end of 2025.

“As our GDP before rebasing was about N269.2 trillion (about $180 billion), the government has borrowed the equivalent of nearly 70% of our previous GDP. Even after the rebasing, which pushed our GDP to about N372.8 trillion (about $243.7 billion), the government would have borrowed about 50.16% of the new GDP (with the approved loans), the highest debt-to-GDP ratio in our history as a nation.

“While the year-on-year increase is about N27.72 trillion and the quarter-on-quarter increase is about N4.72 trillion, we are accumulating very exponential levels of unsustainable debt with little or nothing to show for it in critical areas such as education, healthcare, electricity generation, security of lives and property, and pulling people out of poverty.

“We still rank low in all major human development indicators. While education is underfunded and the standard is in continuous decline, healthcare remains inaccessible to millions of Nigerians, particularly the poor.

“Security of lives and property has deteriorated, with over 10,217 people killed and 672 villages sacked between May 29th, 2023, and May 29th, 2025, even when security spending has significantly increased from N2.98 trillion in 2023 to N4.91 trillion in 2025.

“Infrastructure decay persists across the country, with about 135,000 km of our 195,000 km of roads remaining unpaved, largely unmotorable, and unusable.

“It is the same depressing situation in almost all sectors of the economy, with the power sector an unquestionable example, with less than 5,000 MW supplied for over 200 million Nigerians.

“Today, over two years after the present government took over and with all the humongous borrowing, we are still confronted with negative reports of worsening poverty with about 133 million (63%) Nigerians classified as multi-dimensionally poor, increasing unemployment, and disheartening news like 652 children dead as the malnutrition crisis worsens in Northern Nigeria.

“Médecins Sans Frontières (MSF), also known as Doctors Without Borders, has just sounded the alarm over an escalating malnutrition crisis in Northern Nigeria, with Katsina State emerging as one of the worst-hit areas

“This is a country blessed with enormous resources, yet nobody should go to bed hungry. Still, a persistent deficiency in leadership has thrown the majority of our citizens into increasing multi-dimensional poverty.

“Borrowing is not inherently bad if it is sustainable and tied to productive investments with measurable outcomes. Unfortunately, this current pattern of borrowing without accountability, without transparency, and without transformational impact is simply mortgaging the future of our children.

“The government should consider the intergenerational consequences of their unsustainable borrowings and show at least a minimum consideration and interest in the future of young and unborn Nigerians.

“We must return to a disciplined and prudent economic management culture, cutting the cost of governance, blocking leakages, investing in human capital, and building a productive economy. Nigeria cannot continue to borrow recklessly while poverty deepens and public trust erodes.

“It is time to stop this fiscal indiscipline. We must build a New Nigeria, where leadership is responsible, development is people-centred, and every kobo borrowed or spent delivers a measurable impact to achieve sustainable and inclusive development and growth.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Malami, son face new terrorism-linked firearms charges

Published

on

Spread the love

Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his son, Abdulaziz Malami, on Wednesday pleaded not guilty to a five-count amended charge bordering on alleged illegal possession of firearms, filed against them by the Federal Government.

The Department of State Services had, on February 3, 2026, arraigned the defendants on a five-count charge bordering on alleged terrorism financing, aiding terrorism, and illegal possession of firearms.

Malami was also accused of failing to prosecute suspected terrorism financiers while in office, in addition to alleged unlawful possession of a Sturm Magnum 17-0101 firearm and ammunition.

They had earlier pleaded not guilty to the charges and were granted bail by the court.

However, at the resumed hearing on Tuesday, prosecution counsel, Akinlolu Kehinde (SAN), informed the court of an amended charge dated April 14, 2026, which he said had been served on the defendants.

Kehinde urged the court to substitute the earlier charge dated February 2, 2026, with the amended one to enable the defendants to take a fresh plea.

Responding, defence counsel, Shaibu Arua (SAN), confirmed receipt of the amended charge.

Consequently, the trial judge, Justice Joyce Abdulmalik, struck out the earlier charge and discharged the defendants in respect of it.

The court thereafter ordered that the amended five-count charge be read to the defendants.

In the amended charge, the defendants were accused of preparing to engage in acts of terrorism by allegedly possessing firearms without a licence, including a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live cartridges, and 27 expended cartridges.

The offences are said to be contrary to provisions of the Terrorism (Prevention and Prohibition) Act, 2022, and the Firearms Act, Cap F28, Laws of the Federation of Nigeria, 2004.

After the charge was read, the defendants pleaded not guilty to all counts.

Following the plea, Kehinde urged the court to fix a date for trial.

However, the defence counsel prayed the court to allow the defendants to continue on the bail earlier granted to them.

The prosecution did not oppose the application.

In her ruling, Justice Abdulmalik granted the request and fixed May 26 and June 16, 2026, for trial.

The amended charges read: “That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court, did engage in preparation to commit acts of terrorism by having in your possession and without license, a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar and thereby committed an offence contrary to and punishable under Section 29 of the Terrorism (Prevention and Prohibition) Act, 2022.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court did conspire amongst yourselves in preparation to commit acts of terrorism by having in your possession and without a license a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar, contrary to Section 26 (1) of the Terrorism (Prevention and Prohibition Act) 2022 and punishable under Section 26 (3) (a) and (b) of the Terrorism (Prevention and Prohibition Act) 2022.

2022 and punishable under Section 26 (3) (a) and (b) of the Terrorism (Prevention and Prohibition Act) 2022.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession a Sturm Magnum 17 – 0101 firearm and thereby committed an offence contrary to Section 3 of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Twenty-Seven (27) expended Redstar AAA 5’20 live rounds of cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.”

 

Continue Reading

News

UNICAL first female SUG president graduates with First Class

Published

on

Spread the love

A former President of the Students’ Union Government of the University of Calabar, Blessing Alims, has called on Nigerian youths to embrace discipline and the spirit of resilience as essential tools for success.

Alims, who gained admission in 2020, said she funded her studies through menial jobs, including shoemaking and fashion designing at the Cross River Garment Factory, while volunteering with the Girls’ Power Initiative in Calabar.

She graduated as one of the best graduating student recently at the university’s 38th convocation.

Speaking on Tuesday in Calabar, Alims stressed that while the country presents numerous challenges, young people must resist the temptation to solely blame external factors for their setbacks.

According to her, discipline remains the defining factor that separates successful individuals from those who remain stagnant despite having opportunities.

She added, “You must be consistent and focus. In my 300 level, I broke barriers as the first female SUG President, leading over 45,000 students. During my tenure, I improved campus transportation with five mini buses, awarded N1,000,000 to the best graduating student, sponsored 50 students through the SUG President scholarship scheme, secured a solar-powered borehole to improve hostel water access and championed advocacy that led to the university’s first gender policy”.

The union leader also highlighted the importance of education, skill acquisition, and entrepreneurship, urging young Nigerians to invest in personal growth and development.

She further encouraged students and graduates to be intentional on discipline and make productive use of digital platforms, describing the internet as a powerful tool for learning, networking, and economic empowerment.

“Discipline is not just about avoiding distractions; it is about making the right choices daily, even when it is inconvenient. The internet is a powerful tool for learning, networking, and economic empowerment. Utilize it effectively.”

“In 2020, I got admitted; in 2024, I made history as the first female SUG President in UNICAL since 1975. In 2026, I graduated with a First Class. Let my story inspire you.

“Today, I am the number six overall best graduating students  at the University of Calabar 38th Convocation and the overall best from my faculty, department  and LGA”, she said.

Continue Reading

News

Katsina Prepares 1000 Couples Ahead Of Massive April Wedding

Published

on

Spread the love

The Katsina State Government, in collaboration with an NGO, Al-Usra Marital Support Foundation, on Thursday organised an intensive pre-marital counselling and training for about 1,000 intending couples.

The exercise, held in Katsina, Daura and Funtua zones, was part of preparations for a mass wedding, ‘Auren Gata’, an initiative of the state government, scheduled for April 25.

The chairperson of the foundation, Dr Murjanatu Ibrahim-Duwan, said that the training was aimed at strengthening family values and reducing divorce in the society.

She said the foundation was partnering with relevant authorities to prepare couples, representing 2,000 individuals, for the planned mass wedding.

Ibrahim-Duwan added that the initiative was designed to equip the intending couples with the knowledge and skills required to build stable and successful marriages.

She said the couples were earlier screened by the state Ministry of Women Affairs to ensure they are fit and ready for marriage.

She said the training exercise had been divided into three zones, Malumfashi, Daura and Katsina, to allow participants from different locations conveniently attend the sessions.

“The training is to prepare the couples for a successful married life by educating them on their responsibilities to one another and the importance of mutual understanding in marriage,” she said.

Ibrahim-Duwan added that the sessions also provided guidance on Islamic perspectives on marriage, conflict resolution and ways to maintain harmony in the home.

She noted that participants would receive certificates, which would serve as a requirement for participation in the mass wedding.

The chairperson further explained that the ministry of women affairs compiled and verified the list of screened couples after conducting medical tests and other necessary evaluations.

She expressed optimism that the initiative would contribute significantly to reducing marital disputes and strengthening family institutions in the state.

Earlier, the Hisbah Commander in the state, Dr Aminu Usman (Abu Ammar), said the initiative, the first in the state, would help in reducing immorality.

He said the state government would also provide the couples with all the necessary support needed for marriage, and also a capital for the groom to start a business.

Usman said after the wedding, the board would continue to monitor the couples, to ensure a true and peaceful marriage.

The Commissioner for Women Affairs, Aisha Aminu-Malumfashi, said the initiative was to prevent the beneficiaries, especially women, from falling into immorality.

Represented by Amina Sada-Mashi, the Spokesperson of the ministry, the commissioner said the beneficiaries were made to undergo a thorough screening, such as genotype, HIV and other health issues.

 

Continue Reading

Trending