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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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JUST IN: 1 Dead, 3 Rescued in Fadeyi Building Collapse, Lagos

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A two-storey building has collapsed in the Fadeyi area of Lagos, resulting in one fatality and the rescue of three people, emergency officials confirmed on Friday morning.

The incident occurred in the early hours, sending residents and nearby traders into panic as the structure suddenly gave way. Rescue teams from the Lagos State Emergency Management Agency (LASEMA) and other first responders quickly arrived at the scene and began extracting victims from the rubble.

According to preliminary reports, one person was confirmed dead at the site, while three others were pulled out alive and rushed to a nearby hospital for treatment. Their conditions have not yet been disclosed.

Security personnel have cordoned off the area to allow rescue operations to continue and to prevent further access by onlookers. Officials are still assessing whether any other persons remain trapped under the debris.

The cause of the collapse has not been established. Authorities have not ruled out structural failure, but investigations are ongoing.

Further updates are expected as the rescue operation progresses and more details become available from emergency services.

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UNILAG School Teachers Begin Work-to-Rule Over Unpaid Arrears

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Teachers at the International School, University of Lagos (ISL), on Wednesday commenced a work-to-rule action over unpaid salary arrears, their removal from the university’s payroll, and delays in implementing a National Industrial Court judgment.

The staff are demanding the payment of outstanding Consolidated Tertiary Institutions Teaching Allowance (CONTTA) arrears, as well as arrears from the 25 per cent and 35 per cent salary adjustments approved in 2024. They also want full restoration to the university’s payroll.

Comrade Razak Yusuf, Chairman of the Senior Staff Association of Nigerian Universities (SSANU), University of Lagos branch, said the industrial action followed prolonged delays in resolving the teachers’ employment status and financial entitlements.

The teachers had approached the National Industrial Court of Nigeria, which ruled in their favour on May 11, 2026. Despite the judgment, they claim the university has yet to fully restore their names to the payroll or settle outstanding benefits.

Protesters carried placards with messages such as “Equal Work, Equal Rights,” “ISL tutors deserve their due,” and “Other UNILAG staff paid, ISL tutors still owed.” The action disrupted teaching and a scheduled mid-term examination at the school.

The teachers called on the university management to restore the affected staff to the payroll, settle all outstanding financial obligations, and provide a clear payment plan with timelines.

They rejected suggestions that any interim arrangement under the university’s Council protocol amounted to goodwill, insisting they were only seeking recognition of their employment rights.

The development continues a pattern of industrial disputes at the University of Lagos over salary and allowance issues.

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JUST IN: Gas Emissions Hit Ogun Schools, Hundreds of Pupils Hospitalised

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Hundreds of students were hospitalised on Wednesday morning after fresh gaseous emissions hit parts of Ogun State, including Ijebu-Ode, Ijebu-Igbo and Ago-Iwoye.

The incident affected pupils at Anglican Girls Grammar School, Obalende, Ijebu-Ode, and Ijebu-Igbo Girls Grammar School. Several schools in Ago-Iwoye suspended academic activities and sent students home as a precaution.

Kehinde Bello, General Manager of the Ogun State Environmental Protection Agency (OGEPA), visited the affected areas and linked the emissions to underground gas previously recorded in Ijebu-Ode since April 2026. He said the situation was under control and attributed the releases to natural geological and tectonic fault lines, ruling out sabotage or a gas pipeline leak.

Bello assured residents that the state government was working on a lasting solution. He advised anyone exposed to the odour to cover their noses and mouths with wet handkerchiefs.

The recurring emissions have renewed concerns about the safety of students and residents in the affected communities.

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