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Nigeria’s Public Debt Stock Hits N42trn

Published

3 years ago

September 21, 2022

Nigeria’s total public debt stock, which was N41.60trillion ($100.07billion) in March rose to N42.84trillion ($103.31billion) by June.
This is contained in a statement obtained from Debt Management Office’s website, yesterday.
According to the statement, the total debt represents the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 state governments and the Federal Capital Territory (FCT).
It, however, said that while the foreign component of the debt remained at the same level of N16.61trillion ($39.96billion), the local component increased to N26.23trillion ($63.24billion).
The local component of the country’s borrowings was N24,98trillion ($60.1billion) as of March 30.
The DMO said that a larger percentage of the external debts were concessional and semi-concessional loans.
“Over 58per cent of the external debt stock are concessional and semi-concessional loans.
“They were obtained from multilateral lenders such as the World Bank, International Monetary Fund, Afrexim and African Development Bank, and bilateral lenders including Germany, China, Japan, India and France.
“The total domestic debt stock increased from N24,98trillion ($60.1billion) in March to N26.23trillion ($63.24billion) in June.
“This is due to new borrowings by the FGN to part-finance the deficit in the 2022 Appropriation (Repeal and Enactment) Act, as well as new borrowings by state governments and the FCT,” the DMO said.
It said that the total public Debt-to-GDP ratio remained within limits, at 23.06per cent, while Debt-Service-to-Revenue was still high.
It added that the federal government was committed to increasing revenue to reduce the amount that went into debt servicing.
“The Debt-to-GDP as of June 30, was 23.06per cent compared to the ratio of 23.27 as of March 30. It remains within Nigeria’s self-imposed limit of 40per cent.
“While the Federal Government continues to implement revenue-generating initiatives in the non-oil sector and block leakages in the oil sector, Debt Service-to-Revenue ratio remains high,” it said.
Meanwhile, the DMO is set to take its FGN Securities Awareness Programme to Yola on Wednesday and Umuahia on September 29.
According to the DMO’s Director-General, Patience Oniha, the programme is designed to sensitise Nigerians on the huge investment benefits in FGN securities, thereby boosting financial inclusion.

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RSG Approves Full Rehabilitation of State Secretariat …Unveils Housing Scheme for Civil Servants, Honours Veterans

Published

1 day ago

September 12, 2025

The Tide

Rivers State Administrator, Vice Admiral Ibok-Eteh Ibas (Rtd), has approved the complete rehabilitation and modernization of the Rivers State Secretariat Complex to enhance efficiency and productivity in the civil service.

Ibas made the announcement at the 2025 Civil Service Week Gala and Awards Ceremony held at Banquet Hall, Government House, Port Harcourt, on Wednesday,.

He disclosed that “initiative is designed to transform the secretariat into a modern, efficient and conducive work environment, directly supporting the civil servants who form the backbone of the state’s governance.”

The Administrator also approved the provision of 106 housing units for civil servants in the State.

Ibas paid glowing tribute to retired Heads of Service and Permanent Secretaries, describing them as the bedrock of the state’s administration.

He stated that the awards ceremony was a symbol of deep appreciation for decades of sacrifice, resilience, and commitment.

“These interventions are designed to not only recognize your service, but also to improve your welfare in tangible and lasting ways,” the Administrator stated.

“We must build an administration that is efficient, effective, and truly citizen-centric,” he added.

The Administrator urged serving officers to draw inspiration from their predecessors and strive to make a meaningful impact in the lives of citizens.

He emphasized the importance of embracing innovation, technology, and continuous training to build a civil service equipped for the future.

The Acting Head of Rivers State Civil Service, Dr. (Mrs.) Inyingi Brown, in her welcome address, described the civil service as the “engine room of government” and expressed profound gratitude to the Administrator for his unwavering support and commitment to its modernization.“

“A society that does not honour its heroes is not worthy of emulation,” Dr. Brown remarked, lauding the retirees as torchbearers of discipline and loyalty.

She pledged to build on their legacy through reforms and innovation, projecting that the Rivers State Civil Service would become a model of efficiency and transparency by 2030.

Speaking on behalf of the retirees, President of the Association of Retired Permanent Secretaries, Sir Promise Njowhor,

expressed heartfelt appreciation for the historic recognition.

“For once, since the creation of the State, we are being honoured,” Njowhor said, adding, “Our morale has been lifted.”

He pledged the association’s continuous support for government programmes, describing the body of experienced retirees as a resource available to contribute to state development.

The rehabilitation of the State Secretariat and the new housing scheme represent a major investment in the infrastructure and dignity of public service in Rivers State, signaling a new era of support for the civil servants who drive the government’s policies and programmes.

The Tide reports that the Administrator also conferred awards of meritorious service on retired Heads of Service and Permanent Secretaries in the State

Featured

Rivers LG Poll: APC Wins 20 chairmanship seats, PDP Clears Three

Published

2 weeks ago

September 1, 2025

The Tide

The All Progressives Congress (APC) has won 20 out of the 23 local government areas in the just concluded local government election in the State, while the Peoples Democratic Party (PDP) clinched three local governments.

According to the results released by the Rivers State independent Electoral Commission (RSIEC), yesterday, the APC won the chairmanship seats in Abua/Odual, Andoni, Opobo Nkoro, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana local government areas.

APC also won in Gokana, Tai, Oyigbo, Bonny, Eleme, Etche, Omuna, Akuku Toru, Asari Toru, Degema, Ikwerre and Emohua local government areas.

The Commission, however, said the PDP won in Port Harcourt City, Obio/Akpor, and Ogba Egbema Ndoni local government areas.

Chairman of the Commission, Dr Michael Odey, who announced the results at the Commission headquarters in Port Harcourt, said Ofori Owolabi of the APC scored 28,755 votes to emerge winner of the election for Abua Odual while Solomon Ochomma, also of the APC, emerged chairman elect for Ahoada East after scoring 54,509 votes.

Odey said Eugene Epelle also of the APC scored 84,125 votes to emerge winner in Ahoada West, while Bob Fubara was elected the chairman-elect for Akuku Toru after scoring 63,593 votes.

Similarly APC chairmanship candidate Lucky Otuo Promise emerged chairman-elect for Andoni after scoring a total of 126,181 votes, APC’s George Onengiyeofori emerged winner in Asari Toru after scoring 56,383 votes, while Pepple Blessing Abinye garnered 13,543 votes to emerge winner in Bonny Local Government Area.

Other APC candidates elected include Michael John Williams who scored 16,536 votes to emerge chairman-elect for Degema Local Government; Obarlllormate Ollor (77,452) for Eleme; Dr Chidi Julius Lloyd (114,380) for Emohua; Njoku Boniface (100,649) for Etche; Confidence Deekor (96,478) for Gokana, while Wobodo Charles got 62,746 votes to emerge winner in Ikwerre Local Government Area.

Other APC winners from the APC include Akuro Tobins (32,285 votes) for Okrika; Hon Obasi Uchechukwu (38,530) for Omuma; James A James (38,822) for Opobo Nkoro; Vincent Nemieboka (36,374) for Ogu/Bolo; Hon Mbakpone Okpe (70,080) for Tai LGA, while in Oyigbo, Okechukwu Akara scored 101,495 votes to emerge winner.

Meanwhile, the RSIEC chairman announced Dr Gift Worlu of the PDP with 328,823 votes to emerge winner in Obio Akpor; Shedrack Ogbogu, also of the PDP, scored 51,051 votes for Ogba Egbema Ndoni Local Government Area, while in Port Harcourt City, Sir Alwell Ihunda garnered 235,054 votes for PDP to emerge winner.

The APC also cleared the councillorship seats in Abua/Odual, Andoni, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana, Oyigbo, Bonny, Eleme, Etche,Tai, Khana Opobo/Nkoro and Degema local government areas.

Similarly APC councillorship candidates also emerged winners in Asari Toru, Degema, Akuku Toru, Gokana and Khana while PDP cleared the councillorship seats in Obio/Akpor, Port Harcourt city, and Ogba Egbema/ Ndoni Local Government Areas

Meanwhile, the Forum of State Independent Electoral Commissions has passed a vote of confidence on the just concluded local government election in the State.

National Chairman of the forum, Hon. Mamman Nda Eri, said this in an interview with newsmen in Port Harcourt.

Eri said all the chairmen across the country were in Port Harcourt to monitor the election as well as gain experience in an election under emergency rule.

John Bibor & King Onunwor

Featured

RSG Commences Revitalization Of 200 Health Centres

Published

3 weeks ago

August 22, 2025

The Tide

The Rivers State Government has commenced the revitalization of over 200 primary health care centres across the state.

Senior Special Adviser to the Rivers State Administrator on Health Matters, Professor Chituru Orluwene, disclosure this during an enrollment sensitization campaign organised by the Rivers State Contributory Health Protection Programme (RIVCHPP) at Ogale in Eleme Local Government Area of the State.

He said the government was also equipping all zonal hospitals as well as revitalizing all General hospitals across the state.

Orluwene said the ongoing programme was in line with the promise by the Sole Administrator, Vice Admiral Ibok Ete Ibas (Rtd), to bring affordable and quality health care services to the door steps of the people.

According to him, the programme will not only increase the average lifespan of the people but also reduce poverty and sufferings.

The Special Adviser called for mass enrollment into the RIVCHPP, and listed some of the benefits to include free and affordable health care services, among others.

Meanwhile, the Executive Secretary, RIVCHPP, Dr (Mrs) Vetty Agala, disclosed that over 108,000 persons have so far enrolled with the RIVCHPP within the last one year.

Dr Agala said the programme which started during the administration of the suspended Governor of Rivers State, Sir Siminalayi Fubara, also has the backing of the State Administrator, Vice Admiral Ibok Ete Ibas (Rtd).

She noted that lack of access to quality health care had not only affected the average lifespan of Rivers people but increased poverty and suffering.

The Executive Secretary who stressed the need for the people to embrace the programme, said free medical treatment would be given to those who enrolled with it, adding that registration will guarantee free and affordable health care services to the people

According to her, government is also ensuring that all vulnerable groups including those with disabilities, widows, pregnant women, the aged, children and the downtrodden benefit maximally from the programme.

She said her team would move round the 23 Local Government Areas of the State to sensitize the people on the benefits of the programme.

The Sole Administrator of Eleme Local Government Council, Dr Gloria Obo Dibiah, announced that the council would sponsor over 2,000 less privilege persons from the area for the RIVCHPP programme.

She said the enrollment of 100 persons out of the 2,000 will start immediately.

According to her, the 2,000 beneficiaries will include people with disabilities, pregnant women, the aged, and children.

Dibiah further promised to assist the would-be beneficiaries to get their National Identity Numbers as soon as possible to enable them register for the programme.

She said the sponsorship was part of her administration’s commitment to improving the health care needs of the people of Eleme, and commended RIVCHPP for choosing Eleme to flag off the sensitization programme.

John Bibor