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Why FG Is Borrowing Fresh $3bn From World Bank -Minister

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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said the $3billion loan being sought by the Federal Government from the World Bank would be deployed for reforms in the power sector.
She said this during an interview with journalists on the sidelines of the World Bank/International Monetary Fund meetings holding in Washington DC, United States.
Ahmed, who is leading the Federal Government’s delegation to the meeting, said she would be holding further discussions with the management of the Bank to present how the fund would be disbursed for the project.
She said based on the plan of the Federal Government for the power sector, the loan would be used for the development of transmission and distribution networks to enhance the delivery of electricity.
Ahmed also said the loan would be used in addressing some of the challenges that the country is currently facing in the power sector.
She said, “There is a proposed $2.5billion to $3billion facility for the power sector development programme in Nigeria and this will include development of the transmission networks and the distribution networks as well as removing the challenges that we currently have now in the electricity sector.
“We are going to have a full meeting to discuss the power sector recovery programme and back home we have been working a great deal with the World Bank to design how this programme will be implemented.
“So, we have an opportunity now to have a direct meeting with the leadership of the bank and to tell them the plan we have and how much we need from one to five years.”
The finance minister explained that the government would be pushing for the disbursement of the $3billion facility in two tranches of $1.5billion each.
When asked to comment on concerns being raised by the IMF about Nigeria’s debt which stands at N25.7trillion the finance minister insists that Nigeria does not have a debt problem.
She said what the government needed to do is to increase its revenue-generating capacity in order to boost the revenue to about 50 per cent of Gross Domestic Product.
She said with Nigeria’s current revenue to GDP ratio standing at just 19 per cent, it’s underperformance is significantly straining the government’s ability to service its debt obligation.
The minister said, “Nigeria does not have a debt problem. What we have is a revenue problem.
“Our revenue to GDP is still one of the lowest among countries that are comparable to us. It’s about 19 per cent of GDP and what the World Bank and IMF recommended is about 50 per cent of GDP for countries that are our size. We are not there yet. What we have is a revenue problem.
“The underperformance of our revenue is causing a significant strain in our ability to service debt and to service government day-to-day recurrent expenditure and that is why all the work we are doing at the ministry of finance is concentrating on driving the increase in revenue.”
When asked why the Federal Government decided to increase the revenue projection in the 2020 budget to N8.9trillion at a time when government revenue performance is less than 60 per cent, she said a lot of measures are being put in place to correct the anomaly.
Meanwhile, the Federal Government is considering introducing excise duties on carbonated drinks, according to the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed.
Ahmed gave the indication in an interview with newsmen, yesterday, on the sidelines of the ongoing World Bank/IMF Annual Meetings in Washington DC, United States.
She said the idea was one of other areas, besides the proposed increase in VAT, that the government was looking at to broaden its revenue base.
The minister explained that the government was working hard to ensure efficiency in existing revenue streams while searching for new ones.
She said the government would consult with all stakeholders on the proposal in line with standard policy formulation process.
“Any tax that you are introducing will involve a lot of consultations and also amendments of some laws or introduction of new regulations,” she said.
Carbonated drinks include soft drink brands such as Coca Cola, Sprite and Fanta, while excise duty is a tax levied on locally produced goods.
Ahmed said her ministry was working with all the agencies to ensure that collaboration was strengthened in revenue generation.
“The government is trying to ensure that the work of the agencies is complementing each other as opposed to the past where everybody is working in silos.
“Efforts are ongoing to improve the monitoring performance of the revenue generating agencies, especially government-owned enterprises.
“We have now in place rigorous monthly reconciliation of revenues and that is ensuring that the leakages are minimised.
“There is several cost cutting measures in the SRGI and a number of cost cutting measures initiatives such as innovation and automation as well as capacity building of our people,” she said.
The minister reiterated government’s resolve to sanction revenue generating agencies that fail to meet their targets.

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FG approves 3 critical civil service policies

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The Federal Government has approved three transformative policies aimed at boosting productivity and enhancing service delivery across the civil service. These are the Rewards and Recognition Policy, the Incentive and Consequence Management Policy, and the Civil Service Mentoring Policy.

The approval was granted during the Federal Executive Council meeting presided over by President Bola Tinubu.

The move marks a new era of performance-driven governance, strategic talent development, and enhanced accountability, with the policies designed to work in synergy to motivate staff, foster a culture of excellence, and significantly improve service delivery to Nigerians.

According to a statement signed by MrsEnoOlotu, Director of Information and Public Relations, the Head of the Civil Service of the Federation, MrsDidi Esther Walson-Jack, affirmed that the policies are central to staff welfare and the enhanced value proposition of civil servants and also align with the 2021 Public Service Rules (060101–060111).

She commended the President for his commitment to transforming the civil service and fostering a workplace culture that is efficient, productive, incorruptible, and citizen-friendly. The Head of Service noted that the approval demonstrates the government’s firm resolve to value public servants, reward excellence, and systematically groom the next generation of leaders.

The Rewards and Recognition Policy establishes a comprehensive framework designed to attract, nurture, develop, and retain top talent within the service. It seeks to promote excellence, innovation, and continuous improvement, thereby strengthening overall institutional performance.

The Incentive and Consequence Management Policy introduces a clear, transparent, and equitable system where exceptional performance is rewarded and under-performance is addressed through structured corrective measures. It aims to entrench fairness and accountability at all levels while providing developmental support to staff requiring improvement.

The Civil Service Mentoring Policy, described as a strategic investment in the future of the service, is intended to bridge experience gaps and ensure the systematic transfer of institutional knowledge.

“It will equip the next generation with the requisite skills, values, and ethical grounding for strategic leadership, while preserving invaluable institutional memory against the tide of retirements, thereby ensuring continuity and sustained excellence,” the statement added.

MrsWalson-Jack reiterated that the President’s approval for the implementation of these policies is not merely an administrative milestone, but the foundation upon which a modern, agile, and empowered civil service will be built. She assured civil servants that their dedication will be recognised, excellence rewarded, and personal growth supported.

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RSG CHARGES JOURNALISTS TO SHOWCASE GOVT PROGRAMMES 

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The Rivers State Government has charged journalists to serve as a bridge between the government and the people by reporting effectively on government’s policies, projects, programmes and achievements, thereby keeping the public informed on its activities.

 

The Secretary to the State Government, Dr. BeniboAnabraba, gave the charge during a courtesy visit by the Nigeria Union of Journalists (NUJ), Rivers State Council, led by the Chairman, Mr. Paul Bazia-Nsaneh, in Port Harcourt.

 

Dr. Anabraba emphasized that as the fourth estate of the realm, journalists owe the public a duty to provide a platform for constructive criticism of government and serve as watchdog of society.

 

He indicated that public opinion via the mass media is significant to help the government appreciate public perception, and also to create awareness on government initiatives, programmes and policies as they affect the citizenry.

 

“As a Government, we also appreciate the fact that you are our partner in conveying government policies and activities to the people, for their consumption, appreciation and review. We implore you to continue to publicise matters of importance in governance and encourage civic participation particularly on issues such as civil rights, voters’ registration, actions against gender-based violence, etc.

 

“You also have an obligation to promote morality and balanced criticism of government,” he stated

 

The chairman of the Rivers Council of NUJ, Mr. Paul Bazia-Nsaneh thanked the State Government for receiving them and intimated him of their desire to work with the government.

 

He explained that the union is poised to positively portray the State through an agenda of development communications, adding that the union has also outlined strategic projects to this effect.

 

“As a union, we need to change the narrative and to talk about development communications. If we don’t put out the opportunities that are available in River State, then we can not have people who will be interested in investing in the opportunities that are available to us. So we decided to put out some key areas that we need to focus on development communication trajectory,” he added.

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Police Arrest Sex Trafficking Syndicate, Rescue 15 Young Girls InOndo

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The Police Command in Ondo State says it has  dismantled a notorious sex trafficking syndicate exploiting young women under the guise of job recruitment and social media content creation.

This is contained in a statement signed and made available to newsmen, yesterday, in Akure by the command’s spokesperson, DSP OlusholaAyanlade.

Ayanlade said one Jayeola Joshua was arrested along with two others, while 15 young girls aged 20 to 26, accommodated in an apartment in Alagbaka, Akure, for illicit activities, were rescued. 

The Police spokesperson, who said the sex syndicate was arrested by the command’s Special Weapons and Tactics (SWAT), explained that efforts were on to apprehend the remaining accomplices.

According to him, investigations revealed that the syndicate lured victims across the country with false promises of lucrative employment, including domestic work, ushering services, and overseas placements.

He said the syndicate’s arrangement not only facilitated exploitation but also highlighted how organised criminal elements prey on the vulnerability of unsuspecting young women seeking legitimate opportunities.

“Further inquiry uncovered that the victims were manipulated into sending nude images and videos, which were subsequently transmitted to clients procuring sexual services.

“The principal suspect reportedly received the largest share of the proceeds, while the operation was disguised as producing “relationship content” on social media, misleading the public and masking criminal intent.

“Following the rescue, the 15 victims were taken to the Police Hospital, Akure, for medical care, psychological evaluation, and counseling,” he said.

Ayanlade explained that evidence indicated the apartment was specifically rented to facilitate these activities, prompting the Commissioner of Police (CP) to direct the landlord’s invitation for questioning as part of the ongoing investigation.

He also stated that the CP directed the case be transferred to the command’s Gender Desk for further investigation, counseling, and the reintegration of the victims into society.

According to the spokesperson, the CP issued a marching order that all arrested suspects must be prosecuted to demonstrate the command’s zero-tolerance stance on human trafficking and sexual exploitation.

“This reaffirms the command’s determination to eradicate criminal and sex networks engaged in human trafficking and sexual exploitation,

“The CP has urged parents and guardians to verify job offers and recruitment agents before allowing their wards to travel.

“He also encouraged the public to remain vigilant and provide credible information that can aid in preventing and detecting crime across the state, underscoring the vital role of community partnership in maintaining public safety,” he said.

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