Connect with us


BIG STORY

Don’t Judge My Administration By Debt Profile Alone, Look At Our Assets, Investments — Buhari To Nigerians

Published

on

President Muhammadu Buhari has asked Nigerians to take the country’s assets and investments into account when considering the debt profile.

The president said his administration doubled Nigeria’s stock of infrastructure to gross domestic product (GDP) from about 20 percent to over 40 percent.

In a statement posted on Twitter on Saturday, the president said the growth is “no small undertaking”.

He said this occurred amid a plunge in global oil prices, a recession in the country, and a war in Europe.

“So, as we look at Nigeria’s debt profile, I urge us to also look at the assets and investment profiles, some of which was paid for by debt and some by investment income,” he said.

“The wealth and prosperity of many nations, especially post-war Europe, was built largely on infrastructure and on debt redeemed over decades. Some of the projects are commercially self-liquidating.”

Buhari added that without investing in infrastructure, the road out of poverty is a much tougher one.

The Debt Management Office (DMO) had said Nigeria’s total public debt reached N46.25 trillion at the end of the fourth quarter (Q4) of 2022.

Patience Oniha, director-general of DMO, said the debt stock is increasing due to a combination of several factors, including borrowings and the continued issuing of promissory notes by the federal government.

Oniha said several loans have been contracted from multilateral and bilaterals, while the federal government keeps issuing promissory notes to settle obligations for which it does not really have the revenue.

A promissory note is a legal instrument through which one party promises in writing to pay a sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions.

Ngozi Okonjo–Iweala, director-general of the World Trade Organisation (WTO), had also warned that governors should monitor their states’ debt, and keep careful control of expenditures.

Okonjo-Iweala said it has become imperative for governors to focus on debt management because the country has challenges on the fiscal, debt, and monetary policy fronts.

The governors subsequently called for a quick intervention to curtail the nation’s rising debt profile.

BIG STORY

Protest Rocks Lagos Over Alleged Killing Of Marwa Driver By NURTW Boss

Published

on

A 55-year-old transport union leader on Lagos Island, Shamsideen Oladiti, widely known as Shamelon, has been taken into custody over accusations of assault and murder.

The Lagos State Police Command confirmed his arrest in a statement on Friday, noting that Oladiti is being detained at the State Criminal Investigation Department (SCID), Panti-Yaba, where investigations into both incidents are ongoing.

Information made available indicates that on September 17, 2025, around 3 p.m., the suspect attacked a dispatch rider in Lagos Island, allegedly using his fists and a helmet to inflict serious injuries.

The rider was rushed to a hospital and is said to be receiving treatment on oxygen support.

It was gathered that Oladiti had earlier been accused in another case linked to an altercation on August 28, 2025.

In that encounter, he allegedly used a metallic ring to repeatedly strike a man on the head and face, causing severe wounds.

Despite medical attention, the man passed away on September 17, 2025, and his body has since been deposited in a mortuary for autopsy.

News of the victim’s death sparked protests at the suspect’s office in Sandgrouse Market, Lagos Island, where mourners of the deceased set two motorcycles ablaze, escalating tensions in the area.

Lagos State Commissioner of Police, CP Olohundare Jimoh, led a team of mobile policemen, tactical squads, and regular officers to the scene to restore calm.

He assured residents that the suspect remains in custody and would face charges once investigations are finalized.

The commissioner also appealed for calm, urging Lagos residents to remain peaceful and law-abiding while stressing the police command’s commitment to delivering justice.

Meanwhile, the command’s spokesperson, SP Abimbola Adebisi, clarified that the dispatch rider attacked on Wednesday is still alive, contrary to earlier reports of his death.

She said: “We have confirmed from the family that he is still alive. He is not dead, although he is currently breathing with the aid of oxygen.

“The one who died passed on September 17th. He was also beaten by Oladiti on August 28th but died on Wednesday, September 17th.”

Continue Reading

BIG STORY

Fubara To Address Rivers People At 6pm

Published

on

The reinstated governor of Rivers State, Siminalayi Fubara, resumed duty at the Government House, Port Harcourt, on Friday and announced plans to address residents of the state by 6 p.m.

His return comes after the expiration of the emergency rule imposed on the state by President Bola Tinubu on March 18.

Earlier on Friday, Fubara arrived at the Port Harcourt International Airport, Omagwa, accompanied by his wife, Deputy Governor Prof. Ngozi Nma Odu, Chief of Staff Edison Ehie, and other officials.

He was warmly received by former commissioners, local government chairmen, and other political leaders who gathered to welcome him.

Upon his arrival at the Government House, the governor expressed gratitude to Rivers people for their overwhelming show of support.

He said: “I know everybody wants to hear something from me. In fact, I expected it when I landed.

“Let me first of all appreciate the wonderful people of Rivers State. I am really humbled by what I saw at the Airport.

“I was thrilled by the photographs of what happened here yesterday. That reception really humbled me.

“It shows love, confidence and solidarity. I want to say that it is not just a celebration. It is a show of the reactivation of the bond between this government and the people of Rivers State.

“I want to assure you that we will, by the grace of God, continue to give those things that made you people love us. I want to thank everybody and to say that we love you, but God loves you more.”

Continue Reading

BIG STORY

BREAKING: Fubara Arrives Port Harcourt Airport

Published

on

Rivers State Governor, Siminalayi Fubara, returned to Port Harcourt on Friday, touching down at the Port Harcourt International Airport, Omagwa, just two days after President Bola Tinubu lifted the emergency rule on the state and directed his reinstatement.

The governor’s aircraft landed at exactly 11:50 a.m.

He was welcomed by a large crowd of supporters and political allies, including former Information and Communications Commissioner, Barr. Emma Okah; ex-Health Commissioner, Dr. Adaeze Oreh; former Nigerian Ambassador to the Netherlands, Oji Ngofa; ex-Environment Commissioner, Sydney Gbara; and Victor Oko-Jumbo, former factional Speaker of the state assembly.

Others at the airport included former Youth Commissioner, Chisom Gbali; ex-Physical Planning Commissioner, Evans Bipi; former NUPENG President, Igwe Achese; ex-Education Commissioner, Dr. Tamunosisi Gogo-Jaja; as well as past chairmen of Port Harcourt City and Obio/Akpor councils, Ezebunwo Ichemati and others.

 

More to come…

Continue Reading


 

 


 

 

 

Join Us On Facebook

Most Popular