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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.
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NMMA shortlist 972 entries for 2026 awards
NMMA was founded by a former Chairman of Daily Times, the late Alhaji Babatunde Jose, who led the organisation for 10 years.
The Nigerian Media Merit Award (NMMA) said that it has shortlisted 972 of 1,112 entries for this year’s awards.
The Chairman of the NMMA Panel of Assessors, Otunba Dele Adetiba, said that the entries for the 34th edition cut across print, radio, and television categories.
Chairman of the NMMA Board of Trustees, Prof. Dayo Duyile, said that the award was established in 1990 to promote professionalism, ethical journalism and excellence among media practitioners.
Duyile, a veteran journalist and academic, said the NMMA was founded by a former Chairman of Daily Times, the late Alhaji Babatunde Jose, who led the organisation for 10 years.
News
Nigerian Law school student dies after falling from hostel rooftop
The deceased was a student of the Nigerian Law School, Enugu campus, who was undergoing externship programme at the Lagos campus.
•Faith Alayande
A Nigerian Law School student identified as Faith Alayande, is dead after she fell from the rooftop at Lagos campus.
In a statement on Monday, Aderonke Osho, secretary to the council and director of administration, said that the deceased was a student of the Nigerian Law School, Enugu campus, who was undergoing externship programme at the Lagos campus.
Osho said preliminary findings revealed that the student died from injuries sustained after falling from the rooftop of the campus hostel around 4am on Friday.
The Nigerian Law School is deeply saddened by this tragic development.
“Management is working closely with the appropriate authorities and the family to establish the circumstances surrounding the incident, ensure that all necessary procedures are duly followed, and provide further information as appropriate.”
News
Ekwulobia Suspends New Yam Festival for Kidnap Billionaire Son
A source from the community said the traditional ruler of Ekwulobia where Ezeokafor hails from, His Royal Majesty, Igwe (Engr) Emmanuel Chukwukadibia Onyeneke, officially suspended the Ekwulobia New Yam Festival, saying there was no need to celebrate while their son remained in captivity.
• Joseph Ezeokafor
Ekwulobia community in Aguata Local Government Area of Anambra State has cancelled its New Yam festival celebration billed for September 4, 2026.
Ohibaba.com learned that this is because of the kidnap of billionaire businessman and owner of Jezco Group of Companies, Chief Joseph Ezeokafor.
Ezeokafor was kidnapped in Awka on Tuesday last week when he stepped out of his house without his security details to attend to his spiritual need, where he goes to offer prays.
Public Relations Officer of Anambra State Police Command, SP Tochukwu Ikenga who confirmed the development said that serious operation is currently ongoing to save the elder statesman.
His kidnap has sent his community into mourning, causing the postponement of the new Yam festival, an annual festival which holds on a static date every year.
A source from the community said the traditional ruler of Ekwulobia where Ezeokafor hails from, His Royal Majesty, Igwe (Engr) Emmanuel Chukwukadibia Onyeneke, officially suspended the Ekwulobia New Yam Festival, saying there was no need to celebrate while their son remained in captivity.
“The Igwe said the community of Ekwulobia cannot celebrate while their son remains in the custody of the kidnappers,” the source said.
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