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  • Top 10 News Updates You Should Know Today

    1. Inflation Rises to 15.93% as Food Prices Continue to Climb

    Nigeria’s headline inflation rate increased to 15.93 per cent in May 2026, up from 15.69 per cent recorded in April, according to the National Bureau of Statistics. The latest figure marks the third consecutive monthly increase and highlights the continued pressure facing households across the country.

    Food inflation remained the biggest driver, rising to 16.96 per cent due to higher prices of staples such as onions, maize, yams, tomatoes, and peppers. While economists note that the monthly inflation rate slowed slightly, many Nigerians continue to grapple with rising living costs as policymakers search for ways to ease economic pressure.

    2. Senate Clears Customs Over ₦62.2 Billion Audit Query

    The Senate has dismissed a ₦62.2 billion under-remittance allegation against the Nigeria Customs Service and established a committee to review dozens of other outstanding audit issues.

    Lawmakers said the decision followed detailed scrutiny by the Senate Committee on Public Accounts. The newly constituted committee is expected to examine 76 unresolved cases and recommend measures to improve transparency, accountability, and revenue generation within the customs system.

    3. FG Identifies 470 Grazing Reserves Nationwide

    The Federal Government has identified 470 gazetted grazing reserves across the country as part of efforts to modernise livestock production and address recurring clashes between farmers and herders.

    Officials say the initiative forms part of broader plans to reduce open grazing, improve agricultural productivity, and strengthen food security. Stakeholders have welcomed the move but stressed that successful implementation will require funding, infrastructure development, and cooperation between federal and state governments.

    4. Tinubu Congratulates Muslims on Islamic New Year

    President Bola Ahmed Tinubu has extended his greetings to Muslims in Nigeria and across the world as the Islamic New Year, 1st Muharram 1448AH, begins.

    In his message, the President encouraged Nigerians to draw lessons from the Hijrah by embracing patriotism, peace, and responsible citizenship. Religious leaders also used the occasion to call for tolerance, national unity, and continued prayers for the country’s progress.

    5. Naira Records Slight Decline at Official Market

    The naira weakened marginally at the official foreign exchange market, closing at about N1,357.18 to the US dollar compared to N1,356.27 recorded previously.

    Despite the slight depreciation, analysts say Nigeria’s strong foreign reserves continue to provide support for the currency. Market observers believe long-term stability will depend on sustained reforms, stronger exports, and improvements in foreign exchange inflows.

    6. Troops Record Fresh Successes Against Bandits

    Security forces have intensified operations against criminal groups in the North-West, leading to the elimination of a suspected bandit kingpin and the rescue of several kidnapped victims.

    The Defence Headquarters described the development as part of ongoing efforts to dismantle criminal networks operating across vulnerable communities. Security analysts say sustained military pressure, alongside economic and social interventions, remains essential to achieving lasting peace in affected areas.

    7. UK Names Peter Vowles as New High Commissioner to Nigeria

    The United Kingdom has appointed Peter Vowles as its new High Commissioner to Nigeria, signalling a continuation of diplomatic engagement between both countries.

    The appointment comes at a time when Nigeria and the UK are deepening cooperation in areas including trade, security, migration, investment, and development. Analysts expect the new envoy to play a key role in advancing economic partnerships and strengthening bilateral relations.

    8. Labour Moves to Reopen Minimum Wage Discussions

    Nigeria Labour Congress has announced plans to engage the Federal Government on a review of the national minimum wage amid rising inflation and increasing living costs.

    Labour leaders argue that workers require additional support to cope with current economic realities, while government officials have indicated a willingness to continue dialogue. The discussions could shape industrial relations and worker welfare debates in the months ahead.

    9. Court Awards Passenger ₦13 Million Against Virgin Atlantic

    A Nigerian court has ordered Virgin Atlantic to pay ₦13 million in compensation to a passenger over a missed flight, reinforcing consumer protection within the aviation sector.

    Legal experts say the judgment could influence future disputes involving airlines and passengers by highlighting the responsibilities carriers owe to travellers. Industry observers believe operators may review customer service policies to reduce similar liabilities.

    10. Nigerian Fans Follow African Teams at World Cup 2026

    Although Nigeria is not participating in the ongoing 2026 FIFA World Cup, many football fans across the country continue to closely follow the performances of African representatives at the tournament.

    The competition has generated discussions about player development, coaching standards, and lessons that could benefit the Super Eagles. Sports administrators and supporters alike are watching closely as African teams seek to make history on football’s biggest stage.

     

  • Top 10 News Updates You Should Know Today

    1. CAN Declares ‘Black Sunday’ Over Rising Insecurity

    The Christian Association of Nigeria (CAN) marked Sunday, June 14, as a nationwide “Black Sunday,” calling on churches across the country to observe the day in black attire in honour of victims of terrorism, banditry, kidnappings, and other violent attacks.

    The directive followed an emergency National Executive Council meeting chaired by CAN President Archbishop Daniel Okoh, alongside a three-day national prayer programme held between June 12 and 14. The body said the gesture was aimed at drawing national attention to worsening insecurity across states including Plateau, Benue, Kaduna, and Borno.

    CAN also urged authorities to go beyond prayers and adopt stronger practical measures, including proposals for a possible state of emergency on insecurity, as public frustration continues to grow over repeated attacks and abductions in several communities.

    2. Tinubu Celebrates Abdulsalami Abubakar at 84

    President Bola Ahmed Tinubu joined dignitaries in Abuja on June 13 to honour former Head of State Gen. Abdulsalami Abubakar during his 84th birthday and book launch.

    Tinubu praised Abdulsalami’s role in stabilising Nigeria’s democratic transition, describing him as a statesman whose influence remains significant in national unity discussions. He also directed the FCT Minister to allocate land for an Africa Resource Centre in his honour.

    The event drew political leaders and senior officials, reflecting ongoing efforts to recognise figures who shaped Nigeria’s return to civilian rule.

    3. Nigeria Repatriates Citizens From South Africa Amid Xenophobic Tensions

    The Federal Government has received the first batch of Nigerians evacuated from South Africa following renewed xenophobic tensions targeting foreign nationals.

    Officials say the returnees were part of those who voluntarily requested evacuation as protests and threats escalated in some parts of the country. The Ministry of Foreign Affairs coordinated the airlift and is expected to continue monitoring the situation closely.

    Diplomatic discussions are ongoing as Nigeria seeks to ensure the safety of its citizens abroad while addressing recurring tensions faced by migrants in South Africa.

    4. Insecurity Triggers Protests and Community Reactions Nationwide

    Growing insecurity in parts of the country has continued to trigger public reactions, with protests reported in several states over kidnappings and killings.

    In some areas, residents blocked major roads in protest, demanding stronger government intervention. There were also reports of communities taking matters into their own hands after recent attacks, reflecting rising frustration with the pace of official response.

    Security agencies say they have recorded some successes, including rescue operations along highways, but recurring abductions, especially in rural communities and school environments, continue to fuel anxiety nationwide.

    5. Inflation Climbs as Food and Transport Costs Rise

    Nigeria’s inflation rate increased slightly to 15.69 percent in April 2026, up from 15.38 percent in March, according to the National Bureau of Statistics.

    Food inflation also rose to 16.06 percent, driven by higher prices of essential staples and the impact of fuel costs on transportation and distribution. Analysts link the trend to exchange rate pressures, import dependence, and structural production challenges.

    The development continues to strain household incomes, with many Nigerians reporting reduced purchasing power amid rising cost of living pressures.

    6. Federal Government Inspects South-East Infrastructure Projects

    A presidential communications team has inspected several infrastructure projects in Ebonyi State as part of ongoing efforts to showcase development under the Renewed Hope Agenda.

    Minister of Works Dave Umahi highlighted the expected economic impact of the projects, particularly in improving connectivity and easing transportation challenges in the South-East region.

    The inspection is part of a broader federal push to demonstrate delivery on infrastructure commitments across different geopolitical zones.

    7. Military Intensifies Operations Against Terror Groups

    Nigerian security forces have stepped up coordinated operations against terrorist groups and armed criminal networks in the North-East and North-West.

    Authorities say recent missions have led to arrests, neutralisation of some fighters, and rescue of kidnapped victims in states including Katsina and Kaduna. Intelligence-sharing with international partners is also reportedly being strengthened.

    However, continued attacks and abductions in some regions highlight the evolving and fragmented nature of the security threat across the country.

    8. Democracy Day Reflections Dominate National Conversations

    Discussions continue following Nigeria’s Democracy Day commemorations on June 12, marking 27 years of uninterrupted civilian rule.

    President Tinubu used the occasion to call for unity and resilience, while acknowledging the importance of constructive criticism in governance. Public reactions have remained mixed, with praise for democratic stability alongside concerns about insecurity and economic hardship.

    The moment has once again reignited debates on institutional reform, governance delivery, and the future direction of Nigeria’s democracy.

    9. US-Iran Peace Deal Sends Signals to Global Oil Markets

    The United States and Iran have reached an agreement aimed at easing recent tensions, with provisions reportedly including the reopening of key shipping routes such as the Strait of Hormuz.

    The deal, announced by  US President Donald Trump, is expected to influence global oil flows, given the strategic importance of the region to international crude supply.

    Analysts say the development could affect oil prices and foreign exchange earnings for oil-dependent economies like Nigeria, which closely monitors global energy market shifts.

    10. Calls Intensify for Food Security and Economic Reform

    Stakeholders across the economic and agricultural sectors are calling for stronger interventions to address rising food prices and structural vulnerabilities in Nigeria’s economy.

    While recent GDP figures show modest growth, concerns remain over how macroeconomic gains translate to household welfare. Experts are urging increased investment in agriculture, local refining capacity, and targeted social safety nets.

    The focus, they say, is shifting toward long-term stability that can cushion citizens from persistent inflation and supply chain pressures.

     

  • Peter Obi Raises Alarm Over Nigeria’s Rising Debt Profile, Questions Borrowing Transparency

    The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has raised concerns over what he described as excessive borrowing by the Federal Government, alleging that Nigeria’s debt profile has climbed to about N200 trillion within three years.

    Obi made the claims in a statement shared on his verified X account, where he questioned the transparency and accountability surrounding the utilisation of borrowed funds.

    Concerns Over Rising Debt

    He alleged that Nigeria’s total debt has increased by over N100 trillion under President Bola Tinubu’s administration, comparing it with borrowing levels recorded under former President Muhammadu Buhari.

    Obi described the trend as unsustainable, warning that it could place additional pressure on the country’s economy and future generations.

    Borrowing Targets and Fiscal Questions

    Citing data from the Budget Office of the Federation, Obi claimed the government borrowed about N11.89 trillion between January and September 2025, exceeding its projected target of N10.34 trillion.

    He questioned the rationale behind the additional borrowing, arguing that such deviations should require public explanation and scrutiny.

    Questions on Capital Spending

    The former Anambra State governor also claimed that only a fraction of the borrowed funds was directed towards capital projects within the same period.

    He said about N3.10 trillion was allocated to capital expenditure, raising concerns over how the remaining funds were utilised.

    According to him, the gap between borrowing and infrastructure spending raises accountability questions that Nigerians deserve answers to.

    Call for Accountability

    Obi further questioned what became of the unaccounted portion of the borrowed funds, insisting that transparency is essential in public financial management.

    He called for greater scrutiny of government borrowing and expenditure practices.

    The Federal Government has not responded directly to the specific allegations at the time of filing this report.

    Ongoing Debt Debate

    Nigeria’s debt profile continues to generate national debate, with supporters of government borrowing arguing it is necessary for development financing, while critics warn of long-term fiscal risks.

    The discussion remains central to ongoing conversations about economic reforms and public accountability.

  • FG Ends Mandatory Three-Month Pre-Retirement Leave for Civil Servants

    The Federal Government has directed all Ministries, Departments and Agencies (MDAs) to stop placing civil servants on mandatory three-month pre-retirement leave, clarifying that the practice is not recognised under the Public Service Rules.

    The directive was issued by the Head of the Civil Service of the Federation, Didi Walson-Jack, in a circular addressed to ministers, permanent secretaries, service chiefs and heads of government agencies.

    FG Clarifies Public Service Rule

    In the circular titled “Correct Interpretation of Public Service Rule 120243 on Pre-Retirement Activities,” Walson-Jack said several MDAs had wrongly interpreted the retirement notice period as automatic leave, resulting in officers leaving their posts before their official retirement dates.

    She explained that the rule only requires civil servants approaching retirement to provide three months’ notice, attend a one-month pre-retirement workshop or seminar, and complete pension and documentation processes before retirement.

    “The so-called ‘mandatory three-month pre-retirement leave’ has no basis in the Public Service Rules,” she stated.

    Retiring Officers Must Remain on Duty

    According to the Head of Service, the three-month period is strictly a notice requirement and should not be treated as a leave entitlement.

    She noted that retiring officers are expected to continue carrying out their official responsibilities during the period, except when attending approved pre-retirement seminars or when granted leave under existing regulations.

    “A retiring officer must give three months’ notice before their effective date of retirement. This is a notice requirement, not a leave entitlement,” the circular stated.

    The directive further stressed that officers remain active members of the service until their official retirement date.

    MDAs Directed to Comply

    Walson-Jack instructed permanent secretaries, directors-general, chief executives and heads of agencies to ensure full compliance with the clarification.

    Under the new directive, retiring civil servants are expected to remain at work while completing pension documentation, reconciling records and attending approved retirement programmes.

    The clarification is expected to affect thousands of federal workers approaching retirement each year, as many MDAs had previously treated the notice period as a form of pre-retirement leave.

    Retirement in Nigeria’s federal civil service is based on either attaining 60 years of age or completing 35 years of service, whichever comes first.

  • NLC Rejects Proposed ₦100,000 Minimum Wage, Says Nigerian Workers Deserve More

    The Nigeria Labour Congress (NLC) has rejected a proposed ₦100,000 national minimum wage reportedly being considered by state governors, insisting that the amount is not enough to meet the realities of Nigeria’s worsening economic situation.

    The labour union said rising inflation, fuel costs, electricity tariffs and the continued depreciation of the naira have significantly reduced the value of workers’ earnings.

    Governors Reviewing Wage Structure

    The debate followed comments by the Chairman of the Nigeria Governors’ Forum and Governor of Kwara State, AbdulRahman AbdulRazaq, who revealed that governors were discussing a possible review of the national minimum wage.

    According to him, ₦100,000 is among the figures being considered as governments seek ways to respond to the growing cost-of-living crisis affecting workers across the country.

    He stated that consultations were ongoing between state governments, the Federal Government and organised labour to ensure any wage adjustment remains sustainable.

    NLC Says ₦100,000 Is Not Enough

    Reacting to the proposal, NLC spokesperson Benson Upah described the amount as inadequate.

    He argued that the economic realities facing workers today make the proposed figure unrealistic, noting that the cost of transportation, food, housing and other essential services has risen sharply in recent years.

    According to him, the purchasing power of workers has continued to decline despite previous wage adjustments.

    Labour Pushes for Higher Wage

    Upah maintained that any meaningful wage review must reflect the actual cost of living in Nigeria.

    He said the current economic environment requires a much higher benchmark than ₦100,000, adding that workers are struggling to cope with increasing expenses.

    The labour leader also argued that improved government revenues should translate into better welfare packages for workers.

    Fresh Debate Over Workers’ Welfare

    The latest disagreement comes amid renewed calls for wage adjustments following the removal of fuel subsidy and foreign exchange reforms, which have contributed to higher prices of goods and services.

    Nigeria’s current minimum wage of ₦70,000, approved in 2024 after extensive negotiations, has faced criticism from labour groups who argue that inflation has already eroded its value.

    As discussions continue, organised labour insists that any new wage structure must provide genuine relief for workers battling economic hardship.

  • AY Makun Speaks on Oyo School Kidnapping, Says Political Loyalty Should Not Silence Nigerians

    Nigerian comedian and filmmaker Ayodeji Richard Makun has called on Nigerians to engage in sincere reflection over the country’s growing challenges, particularly the recent kidnapping of students and teachers in Oyo State.

    The entertainer made the remarks in a statement shared on social media amid increasing concerns over insecurity across parts of the country.

    AY Questions Political Dependence

    According to AY, many Nigerians who depend on politicians or political structures for their livelihoods often struggle to speak openly about issues affecting the nation.

    He argued that financial ties to political interests can weaken people’s willingness to hold leaders accountable.

    “It’s time we tell ourselves some truths. When your source of livelihood depends on politics or politicians, your conscience dies and telling the truth becomes your greatest fear,” he said.

    Calls for National Reflection

    The comedian stressed that the country’s current challenges should not be viewed through political, ethnic, tribal, or religious divisions.

    Instead, he urged citizens to focus on the broader national interest and work collectively toward solutions.

    “We need to reflect deeply on the state of the nation and our collective responsibility as Nigerians,” AY stated.

    Reaction Comes Amid Security Concerns

    His comments come against the backdrop of public outrage over the abduction of schoolchildren and teachers in Oriire Local Government Area of Oyo State.

    The incident has generated widespread reactions from public figures, activists and concerned Nigerians, with many calling for stronger action to address insecurity.

    AY maintained that the issues facing the country affect every Nigerian regardless of political affiliation.

    “Today, we are dealing with matters that affect the country, not a political party, tribe, or religion,” he added.

    Growing Public Debate

    The filmmaker’s statement has sparked conversations online, with supporters agreeing that national issues should be addressed beyond partisan interests, while others debated the role of citizens and leaders in confronting the country’s challenges.

  • Makinde Tells FG to Stop Delaying State Police Amid Rising Insecurity

    Oyo State Governor Seyi Makinde has called on the Federal Government to stop delaying the establishment of state police, insisting that Nigeria’s worsening insecurity requires urgent decentralisation of policing powers.

    Makinde made the remarks on Thursday in Ibadan during a political gathering, amid growing concerns over recent kidnappings and attacks in parts of Oyo State and other regions of the country.

    Makinde Pushes For State Police

    Speaking during the event, the governor described the South-West security outfit, Amotekun, as only a temporary solution created because the Federal Government failed to approve state police.

    According to him, governors and state assemblies should be allowed to establish and control security structures capable of responding quickly to local threats.

    “FG should stop wasting our time and stop asking the IG of Police to establish State Police,” Makinde said.

    He argued that insecurity challenges affecting communities across Nigeria require localised policing systems rather than complete dependence on federal security agencies.

    Reference To Amotekun And South-West Security

    Makinde also referenced the creation of the Western Nigeria Security Network, popularly known as Amotekun, which was launched by South-West governors in 2020 to tackle rising kidnappings, banditry and violent crimes.

    He noted that Amotekun was introduced because of frustrations over insecurity and delays surrounding the state police debate.

    The governor further stated that Lagos State, under then-Governor Bola Tinubu, did not initially join the regional security arrangement.

    Insecurity Concerns Continue

    The governor’s comments come days after renewed outrage over the abduction of schoolchildren and teachers in Oyo State’s Oriire Local Government Area earlier in May.

    The incident sparked national conversations about the effectiveness of Nigeria’s security structure and renewed calls for decentralised policing.

    Makinde has repeatedly maintained that security remains one of the major priorities of his administration, while urging stronger collaboration between federal and state authorities.

    Debate Over State Police Intensifies

    Nigeria has for years debated the creation of state police as insecurity continues to spread across different regions of the country.

    Supporters argue that governors and local authorities better understand security challenges within their communities and can respond faster than centrally controlled federal forces.

    However, critics have warned that state police could be abused by governors for political purposes or used to intimidate opposition figures.

    Despite those concerns, President Bola Tinubu’s administration has previously expressed support for state police reforms, although constitutional amendments and implementation details remain unresolved.

    Public Reactions Grow

    Makinde’s latest comments have generated mixed reactions online, with many Nigerians supporting his position amid rising insecurity nationwide.

    Others, however, questioned whether state governors can be trusted with full control of police structures without adequate safeguards and oversight mechanisms.

    The growing debate highlights ongoing tensions around Nigeria’s federal structure, security governance and demands for greater autonomy by state governments.

    As insecurity continues to dominate public discourse, pressure is increasing on the Federal Government and lawmakers to decide whether Nigeria should fully embrace decentralised policing.

  • FG, World Bank Cancel $717.7m Power Sector Loan Amid Deepening Electricity Crisis

    The Federal Government and the World Bank have jointly cancelled a $717.7 million loan facility meant to support reforms in Nigeria’s struggling electricity sector, amid worsening tariff deficits, rising operational costs and persistent instability across the power industry.

    The cancelled amount formed part of the $1.52 billion Power Sector Recovery Performance-Based Operation introduced to improve electricity supply, strengthen the financial health of the sector and reduce pressure on public funds.

    Programme Cut Short

    According to documents released by the World Bank, the programme has now been formally restructured, with the entire undisbursed balance withdrawn.

    “The restructuring will result in the cancellation of the entire undisbursed balance in the amount of $717.7m equivalent, and no further disbursements will be made under the Program following approval of this restructuring,” the bank stated.

    The facility was initially approved in two phases.

    The first phase, valued at about $752.5 million, was approved in June 2020, while an additional $763.5 million package was introduced in June 2023 to deepen reforms and tackle unresolved weaknesses in the electricity sector.

    World Bank Lists Sector Failures

    The World Bank said Nigeria’s power sector continues to suffer from deep-rooted structural problems despite years of reforms and financial interventions.

    According to the report, weak distribution systems, transmission bottlenecks, underutilised generation capacity and poor financial sustainability remain major setbacks.

    The institution also pointed to high technical and commercial losses, alongside poor cost recovery, as key reasons behind the widening financial crisis in the sector.

    “These constraints have created recurrent financing gaps, most notably in the form of tariff shortfalls, which generate liquidity pressures across the value chain and weaken the operational and financial performance of sector institutions,” the report stated.

    Naira Devaluation Worsened Situation

    The World Bank further linked the worsening crisis to the liberalisation of Nigeria’s foreign exchange market in June 2023, which triggered a sharp depreciation of the naira.

    According to the bank, the falling value of the naira significantly increased the cost of natural gas used for electricity generation since gas payments are denominated in dollars.

    “The liberalisation of the foreign exchange market in June 2023 led to a significant depreciation of the local currency Naira, which resulted in a big increase in prices of natural gas used to produce above 70 per cent of electricity injected in the national power system,” the report added.

    The bank noted that electricity tariffs remained largely unchanged for most consumers despite the rising cost of generation, except for Band A customers whose tariffs were adjusted in April 2024.

    As a result, annual tariff shortfalls reportedly jumped from N140 billion in 2022 to about N1.9 trillion in 2024 and 2025.

    Low Disbursement, Reform Delays

    Although the original programme reportedly achieved some milestones, the additional financing package struggled to meet critical reform conditions.

    The World Bank disclosed that only about nine per cent of the additional financing had been disbursed before the cancellation.

    “Of the AF combination of a loan and a credit totalling $763.5m equivalent, only 9 per cent, corresponding to prior results of the PforR, have been disbursed,” the bank said.

    The institution blamed implementation delays, poor verification processes and the absence of a sustainable financing framework for the poor performance of the programme.

    It also stated that recent financing plans failed to identify enough funding sources to cover the growing tariff deficits.

    “Recent financing plans have not fully identified sufficient sources of funding to cover tariff shortfalls, nor established a credible trajectory for their reduction,” the report stated.

    FG Warns Over Delayed Loan Approvals

    Meanwhile, the Accountant-General of the Federation, Shamseldeen Ogunjimi, recently warned that Nigeria may reject future World Bank loans if approval and disbursement delays persist.

    Speaking during a meeting with a World Bank delegation in Abuja, Ogunjimi stressed that Nigeria expects timely processing of loan facilities since the funds are not grants.

    “If approvals take more than six months, the Nigerian Government may no longer honour such arrangements,” he said.

    Despite the latest cancellation, Nigeria remains the third-largest borrower from the International Development Association, behind Bangladesh and Pakistan.

  • Presidency Defends Nigeria’s Rising Debt, Says Country Can Still Borrow More

    The Presidency has defended Nigeria’s growing debt profile, insisting that the country still has the capacity to borrow more despite mounting public concerns over rising local and foreign loans.

    Presidential spokesman Bayo Onanuga made the remarks in a post on X while reacting to criticism surrounding the Tinubu administration’s borrowing strategy.

    Onanuga Dismisses Loan Concerns

    According to Onanuga, many Nigerians criticising the country’s debt situation do not fully understand economics and public finance.

    “Nigeria has not over borrowed compared to countries like Egypt, South Africa and West African country of Senegal,” he wrote.

    “Nigeria is credit worthy and can still take more loans to finance infrastructure. The unwarranted alarm against loans is symptomatic of economic and financial ignorance.”

    Debt-To-GDP Comparison

    The presidential aide referenced a post by another X user, Akinwumi, comparing Nigeria’s debt-to-GDP ratio with those of Egypt and South Africa.

    According to the comparison, Egypt’s debt stands at over $400 billion with a GDP of about $390 billion, placing its debt-to-GDP ratio above 100 percent.

    South Africa was also said to have debt estimated at around $580 billion with a GDP of roughly $420 billion, resulting in a debt-to-GDP ratio of about 135 percent.

    Nigeria’s total public debt, however, was estimated at about $110 billion with a GDP of around $340 billion, translating to approximately 35 percent debt-to-GDP ratio.

    “Yet some people keep shouting that Nigeria is the ‘loan capital of the world,’” the post stated.

    Tinubu Government Continues Borrowing

    The comments come amid increasing public concern over the Federal Government’s borrowing pattern under President Bola Tinubu.

    Since assuming office in May 2023, the administration has secured and proposed several local and foreign loans aimed at funding infrastructure projects, stabilising the economy and addressing budget deficits.

    The government recently sought fresh multibillion-dollar loans from international institutions including the World Bank and the African Development Bank.

    Domestic borrowing through treasury bills and bonds has also increased significantly.

    Critics Raise Economic Concerns

    While the Federal Government insists the loans are necessary for sectors such as transportation, agriculture, power and social intervention programmes, critics have continued to warn about rising debt servicing costs.

    Concerns have also been raised over inflation, worsening economic hardship and the continued weakening of the naira.

  • ASUU Threatens Fresh Strike Over Delayed Implementation of 2025 FG Agreement

    The Academic Staff Union of Universities (ASUU) has threatened fresh industrial action over the Federal Government’s alleged delay in fully implementing key provisions of the 2025 FGN-ASUU agreement.

    The warning comes amid growing tension between the union and government over salary arrears, allowances, and funding concerns affecting public universities across Nigeria.

    ASUU Raises Alarm Over Implementation

    According to the union, several aspects of the agreement signed in December 2025 and unveiled in January 2026 have not been fully implemented.

    These include salary adjustments, earned academic allowances, responsibility allowances, and improved funding for universities.

    ASUU also faulted the non-inauguration of the full Implementation Monitoring Committee (IMC), which was meant to oversee compliance with the agreement.

    Key Grievances

    The union highlighted delays in payment of salary components in some institutions, with reports of outstanding arrears running into months in certain zones.

    It also expressed concern over disparities in implementation between federal and state universities, describing the situation as inconsistent and unfair.

    Zonal coordinators across regions including Abuja, Akure, Kano, Sokoto, Benin, Lagos, and Jos have reportedly voiced frustration over what they described as slow government response.

    Government Response

    The Minister of Education, Tunji Alausa, has reportedly dismissed some of ASUU’s claims, insisting that progress is being made and that efforts are ongoing to prevent another prolonged strike in the university system.

    However, ASUU maintains that the situation on the ground does not reflect government assurances, insisting that commitments made in the agreement are yet to be fully honoured.

    Students and Public Reaction

    The development has triggered mixed reactions online, with many students expressing concern over possible disruptions to the academic calendar.

    Some Nigerians have criticised both parties, citing the recurring nature of ASUU disputes and the long history of strikes affecting university education.

    Possible Strike Looms

    While no strike has been declared yet, ASUU warned that continued delays could force it into nationwide industrial action if urgent steps are not taken.

    The situation adds to ongoing concerns about funding, welfare, and stability in Nigeria’s public university system.