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Reps okay Tinubu’s proposed N1.84trn loan

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The House of Representatives has authorized President Bola Ahmed Tinubu’s proposal for new foreign borrowing amounting to ₦1.84 trillion (roughly $1.23 billion) as outlined in the 2025 Appropriation Act to address the national budget shortfall.

The authorization came after reviewing and accepting the findings submitted by the House Committee on Aids, Loans and Debt Management, led by Hon. Abubakar Hassan Nalaraba, during Wednesday’s legislative session.

READ ALSO: Ignore rumour, no plot to remove Abbas as Speaker – Reps

Based on the committee’s guidance, the borrowed funds will help cover the ₦9.27 trillion budget deficit specified in the 2025 financial framework.

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Additionally, the House sanctioned the refinancing of an expiring Eurobond worth $1.12 billion (7.625% USD1.118bn due November 2025) to ease repayment burdens and maintain Nigeria’s external debt sustainability.

Representatives also authorized federal government access to $2.35 billion via various international financing mechanisms—encompassing Eurobond offerings, loan syndications, bridge financing arrangements, and additional external borrowing from credible international financial entities.

To expand Nigeria’s debt portfolio and engage Sharia-compliant investors, the House additionally approved launching a $500 million inaugural stand-alone Sovereign Sukuk in global capital markets, with optional credit enhancement.

According to the legislative decision, this borrowing initiative supports President Tinubu’s comprehensive fiscal approach aimed at bolstering foreign reserves, stabilizing the national currency, and financing critical infrastructure development while managing the nation’s expanding debt commitments.

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Presidency: Tinubu, others to pay N100million for APC nominations

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President Bola Tinubu and others interested in the presidential ticket of the All Progressives Congress (APC) will have to cough out a whopping N100million as fee for the nomination form of the ruling party.

This is coming as the party released details of its scheduled presidential primary election billed for May 15 and 16, 2026, as part of preparations for the 2027 general elections.

Sulaiman Argungu, National Organising Secretary, who released the details of the activities of the party ahead of the nomination for the 2027 polls on its official X handle, including the sale of forms, screening of aspirants, appeals, and primary elections across all elective positions, said informed that the forms go on sale from April 25 to May 2, while the submission deadline was fixed for May 4.

The statement said screening of aspirants would commence on May 6 and end on May 8, with the publication of results slated for May 11 and appeals scheduled for May 12 to 13.

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The primaries for the House of Representatives will be held on May 18, the Senate on May 20, State Houses of Assembly on May 21, and the governorship on May 23.

The party pegged the total cost of forms for presidential aspirants at ₦100 million, comprising ₦30 million for the expression of interest and ₦70 million for nomination.

Governorship aspirants are to pay ₦50 million, while fees for the Senate, House of Representatives, and State Assembly vary.

“Female aspirants, youth and physically challenged aspirants are to pay for the expression of interest and 50 per cent of the prescribed nomination fees for each position,” it added.

In the statement, the APC said the timetable was issued in line with the Constitution of the Federal Republic of Nigeria, the Electoral Act 2026, and the guidelines of the Independent National Electoral Commission (INEC).

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The party reaffirmed its commitment to conducting “credible and transparent primary elections” to strengthen internal democracy.

As of the time for filing this report, no member of the APC has formally declared interest in contesting the presidency.

Some APC leaders and key affiliations of the party have, however, endorsed President Bola Tinubu for re-election.

Although Tinubu has not publicly or officially declared his intention to run for a second term, he had last week dismissed the speculation that he was scared of the opposition ahead of the elections.

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Enough! Pursue, overtake, wipe out! *CDS gives new orders against terrorists

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“The safety of our citizens rests on our shoulders. You must remain resolute and go after these criminals until they are eliminated. We must make Nigeria safe at all cost,” were the words with which Olufemi Oluyede Chief of Defence Staff, read the riot act for the umpteenth time against insurgents terrorising many parts of Nigeria.

Against the backdrop of renewed attacks in parts of the country days after the killing of Oseni Omoh Braimah a Brigadier General and I.A. Muhammed, a Colonel, each commanding troops in Borno State, one of the hotbeds of the nearly two decades onslaught in separate outbreaks, the CDS told troops of Operation FANSAN YAMMA to intensify ongoing operations against the terrorists and other criminal elements in the North-West region, stressing the need to ensure security across the country.

At an operational visit to the Headquarters Theatre Command, Joint Task Force North West, Operation FANSAN YAMMA (OPFY), in Gusau, Zamfara State, the military boss who said the visit was aimed at assessing operational readiness, addressing challenges confronting troops, and boosting morale in the ongoing campaign to restore peace and security in the region, commended their resilience, courage, and sacrifices in defence of the nation.

Urging the troops to remain disciplined, professional, and relentless in the fight against banditry and terrorism, the CDS, whose encounter was conveyed by Samaila Uba, a Major General and spokesman, at the Defence headquarters was said to have assured the troops of continued support in the areas of welfare, training, and provision of necessary operational equipment to enable them to discharge their duties effectively.

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Uba, Director of Defence Information, quoted his boss as reaffirming the commitment of the Armed Forces of Nigeria to sustaining pressure on criminal groups until lasting peace is restored across the North West and the entire nation, acknowledging the importance of air support in ongoing operations.

The Defence Chief, while noting that efforts were underway to enhance operational capabilities through additional platforms and improved coordination across theatres of operations, was said to have paid a courtesy call on the Governor of Zamfara State, Dauda Lawal, appreciating him for his continued support of Operation FANSAN YAMMA and the military.

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Jandor: Tinubu didn’t endorses Hamzat *I’ve briefed President on my ambition

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It is not true that President Bola Tinubu has settled for Obafemi Hamzat, currently Deputy Governor, as his choice to replace Babajide Sanwo-Olu, his boss in next year’s governorship election in Lagos.

This angle came from Abdulazeez Adediran, who is also eying the number one job in the state after missing it in 2023, when he contested for it on the platform of the Peoples Democratic Party (PDP), coming third behind Sanwo-Olu the winner and Gbadebo Rhodes Vivour of the Labour Party (LP).

Against the backdrop of emerging stories in recent days that both the President and the powerbrokers in Lagos, had settled for the Hamzat, Adediran, popularly known as “Jandor,” told his host while appearing on Politics Today, a public affairs programme on Channels Television he would be one of the first to know about such a development, being very much keen for the job.

His words: “He (Hamzat) hasn’t even said to us himself that he is running. He is the deputy governor of Lagos, qualified, with over 20 years of experience in that space. As we speak, the party says it’s going to be direct primaries. If tomorrow it says this is what we are doing, we will fall in line. The party is supreme.

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“No, the President hasn’t endorsed anyone. I am an aspirant, and we are a few people also gunning for this. We will be the first set of people to know if there is anything like that because communication will come.”

Revealing his own encounter with the President over the matter, the former PDP candidate, who defected to the All Progressives Congress (APC), last year, admitted that Tinubu neither discouraged him from contesting nor promised him the party’s ticket.

He said his earlier attempt to poach for the job was based on his belief that he could deliver adding that even Tinubu made his own ambition to run for offices open before going for them.

Jandor, who spoke on the political profile in the state, also announced the death of any opposition to the ruling APC structure, adding that though he trusted in his own ability to take over from Sanwo-Olu, he would support any candidate the party produced if he was not favoured.

Hear him: “Absolutely, because if you don’t believe in yourself, nobody will believe in you. When the President was running for the ticket, he came out to say he wanted to run. Lagos politics is increasingly consolidating. There is nothing like opposition again in the state. I will support the party if I fail to secure its ticket.

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With Governor Babajide Sanwo-Olu serving his final term, the race for the 2027 Lagos governorship is gathering pace within the APC.

Prominent figures who have been rumoured to be intersted in the seat include Hamzat, former governor Akinwunmi Ambode, Tokunbo Abiru, an aide to the President, Hakeem Muri-Okunola; Chief of Staff to the President, Femi Gbajabiamila, and Minister of Education, Tunji Alausa.

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