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N77trn Debt: ‘Buhari Borrowed Nigeria Back To Stone Age’
Following a recent revelation of the nation’s debt of about N77trillion, the presidential candidate of the African Action Congress (AAC), Omoyele Sowore, yesterday, accused President Muhammadu Buhari of “borrowing Nigeria back to Stone Age.”
Recall that the Director-General of the Debt Management Office, Patience Oniha disclosed recently during a public presentation of the 2023 budget, that Nigeria’s public debt burden may hit N77trillion if the National Assembly approved the request by President Muhammadu Buhari to restructure the Ways and Means Advances.
However, Sowore stated that if elected president in 2023, the repayment of the N77trillion in debt amassed by the previous administration would be suspended until a thorough audit is conducted.
Sowore, who played host to a television presidential interview, in Lagos, also explained that his government would prefer to use available resources on infrastructure development in addition to other urgent needs of the nation rather than paying down the N77trillion debt.
He said: “As President, I am going to pause repayment of debts until I audit the debts, that is what I will do first and foremost when I am sworn in. I am not paying any debt until the audits are properly done.
“This is because we need money to fix the country because Buhari has borrowed Nigeria back to the Stone Age; everybody has agreed on that. But, our problem is not the debt to GDP ratio, our problem is debt to revenue ratio, and the revenue, we will aggressively increase.”
Speaking on his plans to increase the revenue generation of the country, if elected, he said: “I have said this several times and I have identified several other revenue sources that have either been hidden, or have not been harnessed the way they should be.
“I have identified taxes that are owed to the Nigerian states that are up to about N4.5billion by oil companies. We have identified about N3trillion of revenue generating government agencies that are not remitted to the Federal Government’s purse.
“We have identified monies that could come from the NLNG that is the Nigeria Liquefied Natural Gas Company, that is over $5billion that is not remitted directly to the federal government but is remitted to the NNPC and the NNPC just quaff the money.
“So, I have identified several other products that can get into the international market at this time. A lot of mineral resources that are being sold under the table that we have identified that they brought into the official and formal processes that will give you a lot of money.”
Speaking on the subject of subsidies, Sowore claimed that what the country refers to as subsidies is actually a fake conduit set up by political cabals to profit themselves at the expense of the nation’s communal resources.
Against the odds, Sowore said he would maintain subsidy, explaining that: “If you remove the so-called subsidy without any plan to support the poor in the country that means petrol will go to N1000 and you are paying slave wages of N30, 000 per month. How do people survive in this country? That’s the question we should be asking.
“Government should not exist to make life miserable for the citizens? It should exist to find solutions to problems and afflicting the populace and that is what we are saying and that is what we stand for so that they will stop deceiving you every year”, he added.
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NDLEA Intercepts 1.63m Tramadol Pills, Arrests 80-Year-Old Suspect
The National Drug Law Enforcement Agency (NDLEA) has intercepted 1.63 million pills of tramadol concealed in two long trailers heading for Kano as it intensified efforts to dismantle a transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria corridor.
The agency also arrested an 80-year-old suspected drug dealer in Rivers State, a businesswoman linked to cannabis shipments from Canada, a Chadian woman, a couple and other suspects in coordinated operations across Lagos, Edo, Kogi and Rivers states.
The NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a statement, yesterday.
According to the statement, the latest intelligence-led operation came barely one week after NDLEA operatives recovered 558,900 pills of tramadol concealed in the false-bottom compartment of a truck that entered Lagos through the Togo-Benin Republic route.
Babafemi said, “Ongoing efforts to dismantle a transnational drug trafficking syndicate smuggling tramadol from Togo, through Benin Republic into Nigeria have yielded another success with the interception of two long trailers used to move One Million Six Hundred and Thirty (1,630,000) pills of tramadol 250mg concealed in fabricated compartments of the trucks across multiple borders into Lagos.”
He added that one of the two trailers was intercepted on July 2 along the Lagos-Ibadan Expressway, where operatives recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor.
Babafemi said, “One of the two trucks already heading to Kano was tracked and located on 2nd July 2026 along the Lagos-Ibadan Expressway where NDLEA officers recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the trailer and arrested the 22-year-old driver Jabir Kabiru.”
He further disclosed that another trailer was intercepted two days later on the same route.
“Two days later, 4th July, NDLEA operatives acting on processed intelligence successfully tracked and recovered the second trailer from the Lagos-Ibadan Expressway while heading to Kano. A total of 777,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the truck were evacuated and the 22-year-old driver Muhammed Nuhu arrested,” the statement read.
According to Babafemi, investigations established a link between the three intercepted consignments.
He said, “Investigations revealed that all three trucks and consignments intercepted on 21st June, 2nd July and 4th July belong to the same transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria axis.”
The agency also intercepted 4.70 kilograms of Canadian Loud, a synthetic strain of cannabis, at the import shed of the Murtala Muhammed International Airport, Ikeja, Lagos.
Babafemi said, “Two consignments of Canadian Loud, a synthetic strain of cannabis, with a combined weight of 4.70 kilograms have been intercepted at the import shed of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. The cargoes, which arrived the Lagos airport from Canada in cartons with ‘Odugwu’ boldly written on them, came aboard British Airways and Ethiopian Airlines flights on 24th June and 3rd July respectively.”
He said two cargo agents, Ali Rotimi Samson and Orimolade Oluwagbenga, were initially arrested in connection with the shipments, while another suspect, Edeh Onyeamachi Stanislus, was apprehended after arriving at a logistics company to take delivery of the consignments.
News
FG Alerts Nigerians Of N50,000 Allowance Registration Scam
The Federal Ministry of Humanitarian Affairs and Poverty Reduction has denied claims that it has commenced registration for a purported ?50,000 National Support Allowance.
The ministry, in a public notice posted on its official X handle, yesterday, described messages, links and websites advertising the alleged programme as fraudulent.
It urged Nigerians to disregard such claims and verify information only through official government channels.
“The Federal Ministry of Humanitarian Affairs and Poverty Reduction has NOT commenced registration for any ?50,000 National Support Allowance,” the ministry said.
It added, “Disregard fraudulent messages, links and websites claiming otherwise. Verify any info only through official govt channels.”
The alert is in response to a circulating scam flyer that falsely claims the program is ongoing under President Bola Tinubu’s directives.
The fake advertisement, which includes text in Hausa and English, directs victims to a suspicious website (kluspz.com) for applications.
The ministry’s warning comes amid heightened concerns over digital fraud targeting vulnerable populations seeking social support.
Similar scams have previously surfaced around programs like N-Power, prompting questions from citizens in replies to the official post.
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Minimum Wage Review: We’re Battle Ready For Major National Struggle -NLC
The Nigeria Labour Congress (NLC) has expressed its preparedness for a major national struggle for a comprehensive review of the national minimum wage.
NLC President, Comrade Joe Ajaero, hinted at this while making his remarks at the commissioning of the Comrade Godwin Abumisi Pensioners Legacy House and Multipurpose Hall in Abuja.
Ajaero said it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.
He advised workers and pensioners to get prepared for the ideological and economic battles that lie ahead.
According to the NLC president, “The Nigeria Union of Pensioners (NUP) is one of the proud affiliates of the Nigeria Labour Congress. Therefore, your struggle is our struggle, and your welfare remains a priority for the organised labour movement.
“We are currently in the preparatory stages for a major national struggle for a comprehensive review of the national minimum wage.
“However, let me state unequivocally that it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.
“Accordingly, the Nigeria Labour Congress will not only push for a new national minimum wage but will also demand the establishment of a national minimum pension. It is a historical injustice that men and women who devoted their youth, strength and productive years to the service of this nation should be condemned to live below the poverty line after retirement.”
Ajaero noted that the cost of living has risen astronomically as food, healthcare and transportation have become increasingly unaffordable.
“We cannot continue to allow our senior citizens to survive on pensions that have become poverty wages. Every retiree deserves to live with dignity after decades of faithful service to the nation,” he said.
He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”
The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”
He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”
The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”
He said the completion of the project should serve as a clarion call to all workers and lovers of the masses.
“We must not only build physical structures but also build a strong movement capable of compelling government to honour its commitments,” he said.
Ajaero further stated: “We will continue to demand the immediate payment of all outstanding pension arrears and the implementation of a pension regime that guarantees every retiree a life of dignity and security.
“Together, we shall continue to fight until every Nigerian worker and pensioner receives the justice, respect and welfare they deserve.”
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