News
Nigeria’s Debt Profile Hits N17.36trn
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
News
Senate Holds Emergency Meeting ‘Morrow
The Senate has announced that it will hold an emergency plenary sitting tomorrow (Tuesday).
The announcement was made yesterday in a statement signed by the Clerk of the Senate, Emmanuel Odo, who said all senators have been requested to attend.
“The President of the Senate, Godswill Akpabio, has directed the reconvening of plenary for an emergency sitting on Tuesday, February 10th, 2026,” the statement read.
The session is scheduled to commence at 12 noon.
This comes just days after the Senate passed the amendment bill on February 4, but voted down Clause 60(3), which would have required presiding officers to electronically transmit results from polling units directly to the Independent National Electoral Commission’s Result Viewing portal in real time.
The rejected clause aimed to make the process mandatory.
The lawmaker replaced it with the current discretionary “transfer” of results, which allows electronic transmission only after votes are counted and publicly announced at polling units.
Civil society groups and opposition figures in the country have condemned the Senate’s decision, labelling it a setback for Nigeria’s democratic progress.
Senate President Akpabio has, however, defended the Senate’s actions, insisting during a public event that the Senate did not reject electronic transmission and vowing not to be intimidated.
Tomorrow’s emergency sitting could see the Senate reconsider the rejected amendment amid public outcry and potential legal challenges from figures such as lawyer Femi Falana, with possible implications for Nigeria’s democratic processes and the balance between incumbency protections and verifiable voting technology.
News
Probe Senate Over Electoral Act, Tax Laws, SERAP Tells CCB
The Socio-Economic Rights and Accountability Project (SERAP) has petitioned the Code of Conduct Bureau (CCB) to investigate members of the Senate and other public officers over alleged irregularities in the passage of the Electoral Act Amendment Bill and the Tax Reform Laws.
According to a statement issued yesterday by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation is seeking a prompt, thorough, and effective probe into claims that some senators removed provisions on electronic transmission of election results from the Electoral Act Amendment Bill during plenary, despite a majority having voted for their inclusion and without any debate on the proposed removal.
“According to our information, certain members of the Senate allegedly removed the provisions on electronic transmission of election results from the Electoral Act Amendment Bill during plenary after the majority of the senators had voted for the inclusion of the provisions and without any debate on the proposed removal of the said provisions,” SERAP said.
The organisation also requested the CCB to investigate alterations in the Tax Reform Bills, which reportedly led to discrepancies between the harmonised versions passed by the National Assembly and the copies signed into law and gazetted by the Federal Government.
“Similarly, the National Assembly recently alleged that there are unlawful alterations and some material differences between the tax reform bills passed by the legislative body and the tax reform laws gazetted by the Federal Government.
“A Sokoto lawmaker, Abdussamad Dasuki, raised the issue under a matter of privilege, drawing the attention of the House to the alleged discrepancies between the harmonised versions of the tax reform bills passed by both chambers of the National Assembly and the copies gazetted by the Federal Government.
“The lawmakers said the alterations contained in the gazetted copies did not receive legislative approval. These alleged unlawful alterations raise questions over the legality and legitimacy of both the law-making processes and the versions of the tax laws circulated by the Federal Ministry of Information,” the petition added.
The Senate had denied removing the provisions on electronic transmission of election results, saying it only removed the term “real time” from the sentence, citing judicial concerns.
Similarly, the National Assembly had initiated investigations into the alleged discrepancies in the tax bill and released a “certified” version of the Acts to address the contradictions. The law took effect on January 1, 2026.
SERAP said the petition is submitted under paragraphs 1 and 9 of the Code of Conduct for Public Officers contained in the Fifth Schedule, Part 1 of the 1999 Constitution (as amended), and sections 5 and 13 of the Code of Conduct Bureau and Tribunal Act.
It alleged that the processes leading to the passage of the Electoral Act Amendment Bill and the signing of the Tax Reform Laws were marked by alterations to bill provisions without debate and due process of law, as well as alterations to the Tax Reform Bill without the approval of the National Assembly.
“The petition raises issues of conflict of interest, abuse of office, non-disclosure of interests, lack of due process, and erosion of the Code of Conduct for Public Officers in the exercise of legislative power.
“There are also allegations that certain amendments may have been removed or introduced to the Electoral Act Amendment Bill and the Tax Reform Laws to serve private or political interests rather than the public interest,” the petition reads.
Citing the Constitution, SERAP noted that public officers must not place themselves in situations where personal interests conflict with official duties.
Specifically, the organisation asked the Bureau to formally register the petition and “promptly, thoroughly, transparently, and effectively investigate the conduct of the lawmakers and officers of the executive branch allegedly involved;
“Examine whether inducements, benefits, or promises were offered or received in connection with those acts;
“Examine whether the alleged cumulative conduct of lawmakers and officers of the executive branch amounted to abuse of legislative power, conflict of interest, and breach of due process, contrary to the Code of Conduct for Public Officers;
“Refer any substantiated violations to the Code of Conduct Tribunal; and
“Take all necessary steps to uphold the principle that public office is a public trust.”
The petition requested that the Bureau consider the complaint within seven days, warning that legal action could follow if there is no response.
Dated February 7, 2026, the petition was signed by Oluwadare and sent to the Chairman of the Code of Conduct Bureau, Mr Abdullahi Bello.
News
Red Cross Unveils New Generation Of Humanitarians In PH
The Nigerian Red Cross Society (NRCS), Rivers State Branch, has expanded its humanitarian footprint in Rivers State with the formal inauguration of student volunteers at Command Children School (CCS), Bori Camp, Port Harcourt, marking a significant step in promoting humanitarian values among young Nigerians.
The ceremony, which took place at the school premises, officially admitted CCS students into the Nigerian Red Cross Society.
The Rivers State Branch Representative of the Red Cross Society, Mr Noah Idegbesor, disclosed this in his opening remarks at the occasion.
In a symbolic display, the students marched to the flag stand alongside members of the high table and the Branch Representative, where the Red Cross flag was hoisted, signifying the school’s full induction into the Nigerian Red Cross Society.
With the flag raised, CCS was formally declared a member institution of the NRCS.
As part of the inauguration, a certificate of affiliation was presented to the school by the Nigerian Red Cross Society and received on behalf of the school by the Head Teacher, Mrs Onwuzuruigbo Taiwo.
Speaking as Chairman of the occasion, the Acting Director, Nigerian Army 6 Division Education Services, Port Harcourt, Lt. Col. A. Sadiq, described the event as very unique and significant.
Represented by Staff Sergeant Arisa Eberechi, the Director assured of the support of his team in ensuring success of the endeavour.
Also speaking, the Chairman of the Parents Teachers Association (PTA) of the school, Mr Zuru Daniel, said the establishment of the Red Cross unit in the school was a welcome development and assured of the support of the body to ensure its sustainability.
The event also featured a parade by the volunteers, freewill donations from dignitaries and parents in attendance, underscoring community support for the humanitarian initiative.
Speaking earlier, the Head Teacher, Mrs Onwuzuruigbo Taiwo, described the inauguration as an emotional and fulfilling moment.
“It was awesome. We thought it would not be possible, but today it was glorious,” she said.
Taiwo explained that the school’s participation in the Red Cross Society began when management decided to introduce clubs and societies.
“I told my assistant that I wanted the Red Cross to be one of them. The Red Cross signifies many things; it is service to humanity,” she added.
Also, the Assistant Head Teacher, Mrs Bawo Agbana, expressed appreciation to dignitaries, officials of the Nigerian Red Cross Society and parents for their support and presence.
The Assistant Head Teacher (Administration) described the programme as overwhelming and exciting, expressing gratitude to God for its success.
She said the school’s decision to embrace the Red Cross Society was driven by the need to instill values of love, kindness and service in children from an early age.
“Our impression of the Red Cross is being good to people, showing love and kindness. As the children grow, we want to build the spirit of humanity in them so they can show love and care in school, their communities and Nigeria at large,” she said, adding that early training was crucial given current challenges in the country.
She also delivered the closing remark, after which a photo session was held with the newly inaugurated student volunteers.
Other dignitaries at the occasion include Chairman, Python Officers’ Mess, 6 Division, Port Harcourt, Chief Dan Harrison, and the Sualla 1 of Adagbabiri Kingdom, Chief Col. K. Agbana (Rtd.),
Speaking in an interview at the event, 10-year-old primary five pupil, Precious Ote, said she volunteered to join the Red Cross Society because of her desire to help and care for people.
Similarly, 11-year-old Eno Marvellous of Primary Four expressed excitement at becoming a member of the Red Cross Society, noting that her hope is “to save” lives.
The inauguration highlights ongoing efforts by the Nigerian Red Cross Society to nurture a culture of volunteerism, compassion and humanitarian service among schoolchildren in Port Harcourt and beyond.
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