News
Nigerians Oppose Further Borrowings as Tinubu Seeks fresh N1.8trn Foreign Loan
Civil Society Organisations (CSOs) in Nigeria and experts have opposed President Bola Ahmed Tinubu’s plans to borrow an additional N1.767 trillion.
The CSOs have questioned the Tinubu-led government’s continuous borrowing even as the president has written to the National Assembly, seeking approval to borrow the said amount.
Tinubu is seeking approval for a N1.767 trillion ($2.209 billion) new external borrowing plan in the 2024 Budget (Appropriation Act).
Tinubu’s request was contained in a letter entitled “Request for a Resolution of the National Assembly for the Implementation of the New External Borrowing of N1.767 trillion (About $2.209 billion) in the 2024 Appropriation Act” and addressed separately to the
Senate President, Godswill Akpabio and the Speaker of the House, Rt Hon Abbas Tajudeen. The President said the borrowing was to part-finance the 2024 budget deficit of N9.179 trillion.
Tinubu said that the 2024 Appropriation Act approved N7.828 trillion in new borrowings, of which domestic borrowing stood at N6.061 trillion and new external borrowing was pegged at N1.767 trillion, to part-finance the N9.179 trillion budget deficit.
The Right Honourable Speaker may wish to recall that the 2024 Appropriation Act approved the sum of N7,828,529,477,860.00 as new borrowings to part-finance the 2024 budget deficit of N9.179 trillion.
The total new borrowings of N7.828 trillion was further subdivided into new domestic borrowing of N6.061 trillion and new external borrowing of N1.767 trillion,” part of the letter read.
Tinubu explained that the external borrowing funds were needed to give more impetus to the ongoing implementation of the projects and programmes in the 2024 Appropriation Act, which were designed to stabilise the economy and put it on the path of sustainable growth and development.
Gov. Umo Eno of Akwa Ibom has approved an increment in the monthly state allowance for corps members serving in the state from N5,000 to N20,000.
Mr Eno made the announcement on Friday during the state delivery meeting, held at the Banquet Hall of Government House, Uyo.The increment will take effect from Aug. 1st.
The governor said that the increment was to support the Federal Government’s N77,000 monthly allowance, toward helping corps members meet their basic needs.“
More than 10, 000 corps members are posted to Akwa Ibom annually. We must continue to encourage and support them,” Mr Eno said.
It would be recalled that the governor, last week, approved the reconstruction of the NYSC orientation camp at Ikot Itie Idung, as part of efforts to improve the welfare of corps members in the state.
(NAN)
Troops of the 3 Division of the Nigerian Army in conjunction with the Operation Safe Haven (OPSH) under Operation Lafiyan Jama’a have neutralized several bandits during joint operations in Bokkos Local Government Area of Plateau State.
A statement issued on Friday by the Defence Headquarters (DHQ) stated that the clearance operation which took place on Thursday, July 3, led to the killing of scores of bandits.
The statement reads: “In continuation of ongoing efforts to rid the Joint Operations Area (JOA) of criminal elements, troops of 3 Division/Operation SAFE HAVEN under Operation LAFIYAN JAMA’A have sustained aggressive kinetic operations in Bokkos Local Government Area of Plateau State, yielding commendable outcomes.
“On 3 July, 2025, troops carried out a clearance operation in the rugged terrains of Tulus and Hokk Communities, located along the Plateau–Nasarawa State border.
“During the mission, contact was made with armed militias in Hokk, leading to a brief but decisive firefight. Several bandits were neutralised, while others fled into surrounding forests.
“Troops conducted a thorough exploitation of the area and, though no further contact was established, have maintained control through mobile and static patrols to disrupt any regrouping attempts.
“These successful actions reaffirm the resolve of security forces to dismantle criminal syndicates and prevent the proliferation of illicit weapons threatening peace and security within the Joint Operations Area.”
After 13 days in captivity, Justice Ebiyerin Omukoro, a Bayelsa State High Court Judge, who was kidnapped by gunmen, has been released.
The judge was abducted on June 21, 2025, around 7pm by gunmen dressed in combat fatigue in front of a popular eatery at the Ekeki suburb of Yenagoa.
It was gathered that Justice Omukoro was released on Thursday evening and is still with security operatives.
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