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Nigerians Oppose Further Borrowings as Tinubu Seeks fresh N1.8trn Foreign Loan

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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.

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FG Supports Tomato, Pepper Sellers Too, Not Just ‘Akara’ — Remi Tinubu

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Nigeria’s First Lady, Senator Oluremi Tinubu, has clarified that the Federal Government’s support for small-scale traders extends beyond ‘akara’ sellers to include tomato and pepper sellers across the country.

Speaking at an event, Mrs. Tinubu emphasized the government’s commitment to empowering various categories of informal traders and food vendors.

“Not only ‘akara’, FG also supports tomato, pepper sellers,” she stated.

The First Lady’s remark appears to address recent discussions and criticisms regarding government intervention programmes for petty traders. She highlighted that initiatives aimed at supporting small businesses cover a wide range of essential food items and vendors, including those dealing in tomatoes and peppers, which are staple commodities in Nigerian markets.

Mrs. Tinubu reassured citizens that the administration remains focused on inclusive economic support for vulnerable groups and market women. She noted that such interventions are designed to cushion the effects of economic hardship and promote self-reliance among small-scale entrepreneurs.

The statement has sparked reactions on social media, with many commending the First Lady’s direct engagement while others called for more visible and widespread implementation of the support programmes.

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Insecurity: NSCIA fumes “Enough is Enough” over attacks on Islam and Muslims in Nigeria

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

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Photo: Sultan of Sokoto Muhammad Sa’ad Abubakar III

The umbrella body of Muslims community in Nigeria (Nigerian Supreme Council for Islamic Affairs (NSCIA) has warned the Federal Government and security agencies to act before Muslims ‘run out of patience’.

According to the NSCIA,the community’s continued restraint amid what it described as persistent attacks, profiling and marginalisation should not be mistaken for weakness.

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

The NSCIA also called on the government to ensure that those responsible for what it described as heinous crimes in Kaduna and Benue states were brought to justice without delay.

“While the NSCIA continues to appeal to Muslims for continuous restraint, it is imperative that government and security agencies should act decisively before the Muslims run out of patience in the light of persistent attacks and unbridled marginalization,” the council said.

The council urged the authorities to rein in what it described as persistent attacks on Islam and Muslims in public spaces, saying that was essential to preserving peace and national cohesion.

“The barrage of open assaults on the integrity of Islam and the Muslims in public spaces should be checked in the interest of peace and order. Enough is enough,” the statement added.

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NYSC to be headed by civilians under new reforms

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

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The Federal Government has approved sweeping reforms to the National Youth Service Corps, NYSC, announcing that the scheme will now be headed by a civilian instead of a military officer.

The approval was announced to State House correspondents after the FEC meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

The Minister of Youth Development, Ayodele Olawande, said that the reforms would also introduce professional training programmes for corps members to enhance their employability and entrepreneurial skills.

He explained that the NYSC would retain its one-year service duration while incorporating flexible, skills-based training programmes into the service year.

Under the new framework, he said, the scheme would remain civilian-led, while the Nigerian military would continue to be responsible for the security of corps members nationwide.

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