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‘Nigeria’s N6trn Debt Manageable’

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13 years ago

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The Minister of Finance, Dr Ngozi Okonjo-Iweala, says Nigeria’s N6 trillion debt profile was “very manageable’’.

Okonjo-Iweala stated this in Abuja yesterday at the ministerial platform to commemorate the 2012 Democracy Day and the one-year anniversary of President Goodluck Jonathan administration.

She, however, expressed concern over the country’s rising domestic debt.

Quoting the Debt Management Office (DMO),she revealed that Nigeria’s external debt stock is $5.6 billion while the domestic debt stock is put at N5.96 trillion.

The coordinating minister of the economy noted that the public debt at 17 per cent of GDP ratio was still far below the 30 per cent target set by the Federal Government for borrowing.

“We should not be complacent; we want to watch our domestic debt.

“Within that category our foreign borrowing is only about 2 per cent, so we are doing very well in terms of keeping our foreign debts very low.

“But on the domestic side, we have been experiencing a relatively significant increase, that is where we want to watch so that we don’t have a borrowing that is too much of what we can sustain. ’’

Okonjo-Iweala assured Nigerians that government would ensure progressive decline in fiscal deficit in the subsequent budgets up till 2015.

She added that in this year’s budget, domestic borrowing declined from N852.27 billion in 2011 to N744.44 billion.

On revenue, she said government was targeting N400 billion as internally generated revenues from government agencies this year.

“We are expecting revenue generating agencies within government to send to the federal coffers a minimum of 25 per cent of their gross revenue.

“This is what Mr President has asked us to do and we are going to that, ’’ she added.

The minister also projected that the country’s economy would grow by 7.2 to 8 per cent this year, with a low inflation rate of at least 9 per cent.

She expressed the hope that the growth in the economy would be inclusive by providing jobs and reducing the poverty rate in the country.

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Kenyan Runners Dominate Berlin Marathons

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2 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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2 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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2 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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