Connect with us

News

Nigeria’s Debt Profile Hits N17.36trn

Published

on

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

Continue Reading

News

CAN President Tasks Christians On Unity

Published

on

Against the backdrop of rising economic challenges and global uncertainties, the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, has called for calm, unity, and responsible leadership as Christians across the country mark Palm Sunday, yesterday.
In a statement released yesterday, Okoh reflected on the significance of Palm Sunday, saying that it is a moment that symbolises peace, humility, and hope, even in times of tension and uncertainty.
He further explained that Jesus entered Jerusalem with calm resolve, not as a display of force, but with a message of peace and purpose.
The CAN President noted, “The message of the Christian observance is particularly relevant as many Nigerians grapple with economic hardship, including rising cost of living, increasing fuel prices, and escalating food costs.”
He attributed part of the economic pressure to global developments, especially geopolitical tensions involving Iran, Israel, and the United States that are already impacting energy markets and, by extension, everyday life in Nigeria.
He stressed that across the country, families are feeling the weight of these times, with transport costs rising, food prices climbing, and daily life becoming more difficult.
He stated that Nigerians are primarily concerned with survival and stability, appealing to leaders at all levels to be mindful of the tone and impact of their words and actions.

According to him, when life feels uncertain, people need reassurance, they need stability and the confidence that those in authority understand their struggles. He stressed that the lessons of Palm Sunday should guide leadership, as true leadership is defined not by force or rhetoric, but by empathy, restraint, and a commitment to the common good.
He stressed that it is a time for decisions that ease burdens, calm anxieties, and bring people together, and called on the Church and Nigerians of all faiths to embrace their responsibility in promoting peace and unity.
He said Palm Sunday serves as a reminder of a time when people from diverse backgrounds came together in shared hope and purpose, pointing out that the same spirit is needed now to stand for peace, strengthen unity, and support one another, especially in a season that could easily tilt towards tension.
Okoh encouraged young Nigerians and those most affected by the current economic realities not to lose hope, acknowledging that while the challenges are real, they are not insurmountable.

Continue Reading

News

Acting Provost Dismisses Alleged Missing Equipment Claims At Rivers Health College

Published

on

The Acting Provost of the Rivers State College of Health Science and Management Technology, Dr. (Mrs.) Peace Chigozirim Amadi has refuted claims circulating in the media suggesting that laboratory equipment went missing from the college.
In a recent statement, Dr. Amadi described the reports—particularly those attributed to certain publications—as false and misleading. She emphasized that all laboratory equipment at the college remain intact.
“I am here to set the record straight. No laboratory equipment disappeared from my college. Nothing is missing,” Dr. Amadi said, challenging anyone with contrary claims to provide evidence, including the names of the equipment and their supposed locations.
She further noted that the college recently underwent an accreditation exercise, during which significant investments were made in laboratory equipment. According to Dr. Amadi, these items are fully accounted for, and the college maintains a robust security system to protect its assets.
“Everything is intact. Nothing disappeared. The information being circulated is false and should be discarded,” she reiterated.
Beyond addressing the allegations, Dr. Amadi also called on media practitioners to exercise professionalism and verify stories before publication. “I want to plead with journalists to always verify their stories. Junk journalism does not help anyone. No matter the information you receive, it is important to hear the other side before publishing,” she said.
While social media posts have occasionally raised concerns about various issues in the region’s health education sector, including extortion and examination malpractice at related institutions, there is no independent evidence from credible news sources confirming that equipment went missing from Rivers State College of Health Science and Management Technology.
The college, a public tertiary institution based in Port Harcourt, Rivers State, is accredited to offer a variety of health-related programs, including Nursing, Midwifery, Laboratory Technology, and Environmental Health. It has consistently emphasised integrity, safety, and transparency in its operations.
Dr. Amadi’s statement seeks to reassure the public, students, and stakeholders that the college remains secure, well-managed, and free from the alleged equipment losses, while urging journalists to prioritise accuracy in reporting.

Continue Reading

News

Hausa Leader Lauds Fubara For Sustaining Peace, Security In Rivers

Published

on

The Chairman of the Arewa Traditional Council of Chiefs in Rivers State, Alhaji Hussaini Isa Madaki, has commended Governor Siminalayi Fubara of Rivers State for his efforts in sustaining peace and security of lives and property across the state.
Madaki, who is also the Sarkin Hausawa in Rivers State, described the governor as a leader who has embraced the Hausa community as part of the larger family in the state.
Speaking with journalists at his office in Port Harcourt during the 2026 Eid al-Fitr celebration, Madaki noted that Governor Fubara has demonstrated fairness and inclusiveness by not segregating any ethnic group, particularly the Hausa community.
He added that the governor’s peaceful disposition has positioned Rivers State as one of the most accommodating and peaceful states in the country.
Madaki further assured that the Hausa community would continue to give maximum support to the Fubara-led administration until the end of its tenure.
He also urged members of the community to remain peaceful and law-abiding as they go about their lawful activities.
On community development, Madaki disclosed that district and ward heads have been appointed and crowned across Hausa settlements in the State to ensure proper coordination and profiling of residents. According to him, the initiative is aimed at strengthening security, enhancing identification, and improving crisis management at the grassroots level.
He explained that the move became necessary due to recurring security concerns, including disturbances allegedly caused by some scavengers and cart pushers.
Madaki called on the newly appointed leaders to promote inclusiveness, harmony, and peaceful coexistence in the discharge of their responsibilities.
Those appointed include Alhaji Abubakar as Port Harcourt City District Head; Alhaji Buba Usman (Eleme axis); Malam Adamu (Eagle Island); Alhaji Tanlasuki (Gborokiri Yam Zone); Abdullahi (Rumukwurushi); Adamu Suleiman (Aboloma); and Useni Umaru (D-Line).
He appealed to Governor Fubara to formally recognise the efforts of the Hausa leadership structure in the State and extend further support in the spirit of inclusivity and unity.

Continue Reading

Trending