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Nigeria’s Debt Profile Hits N17.36trn

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In less than 20 months, Nigeria’s total debt profile has risen to N17.36  or $57.39billion  from  N2.03trillion ($10.32billion)  as at the end ofJune 2015.
This  revelation was made  yesterday  by the Director General of the Debt Management Office (DMO), Dr Abraham Nwankwo during the budget defence session for his agency   before the Senate Committee on Foreign and Local Debts.
According to the DMO’s DG, the total debt
profile of the country which comprises of both local and foreign debts has been on the increase since July 2015 due to prevailing economic challenges at both the federal and state levels.
He said while the Federal Government’s domestic debt as at December 31, 2015 was N8.84trillion, it rose to N11.06trillion as at December 2016.
Nwankwo  explained  that the total debt profile of $57.39billion is made up of external debt stock of $11.41billion (N3.48trillion and domestic debt stock of $45.98billion(N13.88trillion) out of which  the 36states of  the federation and the Federal Capital Territory accounted for about 32.45%  and the federal government accounting for the remaining 67.55%.
Worried by the rising debt profile, the Chairman of the committee, Senator Shehu Sani (APCKaduna Central) and other members, asked the DMO’s DG why the federal
government  had not sought for debt relief from the creditors as was the case during the Olusegun Obasanjo administration.
as once did.
The DG in his response incurred the wrath  of the committee members by declaring that Nigeria despite
the high debt profile is still strong economically.
”In  our humble view, Nigeria is not in a position to beg for debt  forgiveness. Nigeria is still a very strong economy.  We have some challenges. But Nigeria has not reached a stage that it needs to beg for debt forgiveness.We are not in that
position, Sir”.  the DG said
It was a submission that made a  member of the committee, Senator Obinna Ogba,  to fire back at him, by asking him whether Nigeria was in bad situation when the Obasanjo-led administration  sought debt write – off .
In response,  the DG  said  the question was
too big for him to answer.
Angered by the DMO’s DG’s  response ,Senator Shehu Sani  accused him of being careless  and insensitive to the plights of ordinary Nigerians going by his stance against seeking for debt relief.
His words “It is shocking that in 2006, people found it easier to feed  their families and pay the fees of their children and rents.  Now, things are in a very bad shape. But you’re speaking in a way not  typical of somebody who lives with the people but like somebody who is speaking from an ‘expert’ point of view.
“You said we are not in a bad position to ask for debt  forgiveness. If you are talking from the point of how our people live nowadays, you would not be able to say such  things. But you are speaking naturally as an expert.”

 

Nneka Amaechi-Nnadi, Abuja

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PDP Kicks As APC Wins FCT Council Polls

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The Peoples Democratic Party (PDP) has inaugurated a special legal team to handle election petitions arising from last Saturday’s Area Council elections in the Federal Capital Territory.

This comes as the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

The Tide reports that the council elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali.

Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

In a statement issued yesterday by PDP’s National Publicity Secretary, Ini Ememobong, the party congratulated its candidates, who emerged winners in the chairmanship and councilor elections.

The opposition party acknowledged the victories, noting that the number of wins was lower than expected but significant given the alleged irregularities during the polls.

“We specifically congratulate the Chairman-elect of Gwagwalada Area Council, Mohammed Kasim, and the councillors who have been declared successful by the Independent National Electoral Commission (INEC).

“This victory, though less in number than we anticipated, is particularly gladdening because it is against the background of unprecedented intimidation, high-powered money politics, and brazen executive brigandage,” the statement read.

Ememobong claimed that there are reports and video evidence indicating voter intimidation and unlawful conduct that influenced the outcome of the elections.

“Reports and video evidence abound where armed security personnel were used to cart away result sheets in polling units, intimidate voters, and unduly influence the outcome of the elections.”

To address complaints and litigations arising from the polls, he said the party has set up a legal team headed by its National Legal Adviser, Shafi Bara’u, Esq.

The statement urged candidates with legitimate grievances to contact the Legal Adviser promptly, as delays could jeopardise their chances in election petition cases.

“The incredible voter apathy in these polls is a direct response to the anti-people Electoral Act 2026, where the people have completely lost faith in the electoral outcomes from elections conducted under this Act.

“These Local Council polls may just be a foreshadowing of the forthcoming general elections in 2027 if changes are not urgently made,” the statement added.

The PDP called on the National Assembly and the President to take corrective action to safeguard the integrity of Nigeria’s democracy.

 

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S’Court Gets New Justice As CJN Swears In Oyewole, Wednesday

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The Chief Justice of Nigeria, Kudirat Kekere-Ekun, will on Wednesday swear in Justice Joseph Oyewole as a Justice of the Supreme Court of Nigeria.

The ceremony is scheduled to be held at 2pm at Courtroom Two of the Supreme Court complex in Abuja.

The court urged guests to adhere strictly to the court’s protocols and security measures.

This was contained in a statement issued yesterday by the Supreme Court’s Director of Information and Public Relations, Dr Festus Akande.

The court described Oyewole’s appointment as a step towards reinforcing the capacity of the apex court to deliver fair and timely judgments.

Recall that Oyewole was, until his elevation, a Justice of the Court of Appeal and Presiding Justice of the Enugu Division, and joins the apex court bench as part of ongoing efforts to strengthen the judiciary.

The National Judicial Council recommended Oyewole for the position alongside 35 others for various judicial offices, following its 110th meeting held on January 13, 2026, and presided over by Justice Kekere-Ekun.

The statement partly read, “The Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, will on Wednesday, 25th February, 2026, preside over the swearing-in ceremony of the newly appointed Justice of the Supreme Court, Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA.”

According to the statement, Oyewole served with distinction at the Court of Appeal and as Presiding Justice of the Enugu Division prior to his elevation.

“His appointment underscores the commitment of the Nigerian judiciary to upholding the rule of law, ensuring justice, and strengthening the bench with experienced and dedicated jurists. He brings a wealth of legal expertise and integrity to the apex court to further enhance its capacity to deliver fair and timely judgments,” the statement added.

The apex court further described the swearing-in as “another significant step in rejuvenating the judiciary and ensuring the continued delivery of justice in line with the highest standards of integrity, competence, and impartiality.”

The Supreme Court reiterated its commitment to justice, fairness and judicial independence for the benefit of Nigerians.

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Fubara Mourns Senator Mpigi

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Rivers State Governor, Sir Siminalayi Fubara, has expressed deep shock and sadness over the sudden passage of  Senator Barinada Mpigi, the Senator representing  South East Senatorial District of Rivers State.

In a tribute to mourn the deceased, Governor Fubara described Mpigi as a brother, a consummate politician and one of the leading lights in Rivers State.

He said that Mpigi died at a critical time when his services were still needed by the people of Rivers  State and prayed God Almighty to grant him eternal rest.

The governor  commiserated with his immediate family,  the Rivers South East Senatorial District and the Senate at large, asking them to take solace in the fact that the deceased lived a good life and impacted positively on the people.

Senator Mpigi died  at the age of 64. Until his death, he was the Chairman of the Senate Committee on Works.

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