Connect with us

News

$6billion loan:  History will judge Tinubu and ‘carry-go’ Senate – Atiku

Published

on

For the umpteenth time, Atiku Abubakar, Nigeria’s former Vice President, on Tuesday, cried out over how President Bola Ahmed Tinubu is plunging Nigeria into the abyss of economic helplessness – citing the fresh $6 billion external loan the President is on his way to obtaining.

The former VP, a chieftain of the African Democratic Party (ADC), is not only worried about the amount involved or the implication to the heavy debt profile of the country, but the record speed with which it was approved by the Senate, indicating total absence to official scrutiny.

Phrank Shaibu, spokesman of the former presidential candidate of the Peoples Democratic Party (PDP), who conveyed his position on the development, quoted his boss to have described the development as not just troubling but alarming.
Atiku, Shaibu, Senior Special Assistant on Public Communication, noted warned that the development would have profound national consequence, adding that a situation capable of not only further burdening an already strained economy, but mortgage the future of generations yet unborn, could not be treated with such reckless urgency.
“What Nigerians have witnessed is not legislative diligence, but a disturbing erosion of oversight responsibility,” the former VP was quoted as saying, stressing that the National Assembly must stop functioning as a mere rubber stamp but as a constitutional safeguard meant to interrogate, scrutinise, and protect the interests of the Nigerian people.

The statement added: “The Senate, which ought to serve as a constitutional safeguard, has instead reduced itself to a conveyor belt—processing requests of grave national consequence without due diligence. Borrowing decisions that will bind generations yet unborn cannot, and must not, be treated with this level of casual urgency.
“Where was the debate? Where was the rigorous analysis? Where was the accountability? Approving a multi-billion-dollar borrowing request in record time, without visible scrutiny, raises serious questions about due process and the commitment of the legislature to its constitutional duty.
“While these objectives may appear routine on the surface, they expose deeper structural weaknesses in the nation’s fiscal management. Resorting to fresh borrowing to service existing debts, plug budget gaps, and meet routine obligations is not a strategy—it is a dangerous cycle. It reflects a troubling absence of fiscal discipline, clear prioritisation, and sustainable economic planning.”

Advertisement

Further expressing concerns on emerging fiscal indicators, Atiku particularly cited the World Bank report earlier in the year, which stated that Nigeria’s exposure to the International Development Association (IDA) had risen to $18.7 billion—placing the country among the largest recipients of concessional loans globally.
His words: “In March 2026 alone, the President is requesting an additional $6 billion external loan, even as the Debt Management Office continues aggressive domestic borrowing through high-volume bond auctions, as evidenced by the March 2026 FGN Bond Offer Circular, largely to finance immediate government obligations and service existing debt.

“This pattern reflects an unsustainable borrowing trajectory that places the country on a dangerous fiscal path. Is this development signals a deliberate attempt to mortgage the future of the country? Because that is what it suggests.
“What does a government that appears to be preparing for electoral rejection in 2027 intend to do with an additional $6 billion in borrowed funds—on top of the mounting obligations it has already accumulated in just the first quarter of 2026?

“At a time when Nigeria’s debt profile continues to rise and debt servicing consumes a significant portion of national revenue, prudence—not haste—should guide fiscal decisions. Borrowing is not inherently wrong, but reckless borrowing, enabled by legislative complacency, is dangerous. The speed of the approval suggests a troubling sense of desperation—one that does not inspire confidence in the long-term economic direction of the country.
“Nigeria is not a private enterprise to be leveraged at will. The future of our nation cannot be signed away in a matter of hours.
“I call on the Senate to remember its constitutional role as a check on executive excesses, not an extension of it, insisting that Nigerians deserve transparency, accountability, and responsible governance. History will record this moment—and the choices made.”

 

Advertisement
Share this story:

News

Tinubu to Nigerians: You’re in heaven compared to suffering of your neighbours

Published

on

President Bola Tinubu on Friday, told Nigerians to take a look at the situation in neighbouring countries to ascertain what true suffering really means, insisting that he has made the country better for everybody.

The President, who spoke against the backdrop of the massive groaning in the country, was particular about the hardship occasioned by the cost of petroleum products, made so by the conflict in the Middle East, where Iran is facing attacks from Israel and the United States.

Urging for patience among the people, Tinubu, in Yenagoa, Bayelsa State, where he inaugurated some projects, said: “I hear you from various angles of the economy. The fuel price is biting hard, but look around, let’s just thank God together that you are better off

“Listen to them in Kenya, in other African countries, what they are going through. We will not look back. We will continue to find ways to ameliorate the suffering of the vulnerable. This is a government that cares.

Advertisement

“I am glad the Head of Service is here. Look at the numbers with the finance, economic planning, and budgeting, and we will see what we can do to ease the burden.

“But that is the development; the burden of it is what we are facing today. The challenge of the war we didn’t call for, but the effect of the interrelated world that we share. Both the joy and pain of it are universal.”

The President’s position came on the heels of another sharp rise in the price of Premium Motor Spirit (PMS), now put at close to N1, 400 per litre from the about N870 before the hostilities in the Iran, which led to major difficulties in the operation of global oil industry.

The situation was particularly worsened by the decision of Iran to restrict the movement of vessels carrying crude through the strait of Houmous, a major transit hob for the commodity to various parts of the world.

Advertisement
Share this story:
Continue Reading

News

Nafiu Gombe: Yes, I have sponsors! *I can’t fight ADC big men alone!

Published

on

Nafiu Bala Gombe, the man on whose behalf the African Democratic Congress (ADC), is currently in a prostrate state, has admitted to getting outside help in prosecuting his legal matters against the David Mark camp.

Recall that Mark, former Senate President and Rauf Aregbesola were, last week, derecognised by the Independent National Electoral Commission (INEC), and had their names struck out based on the case filed by Gombe on September 2, 2025.

The commission had relied on the pronouncement of the Court of Appeal, which ordered parties in the case to maintain status quo ante bellum, which it interpreted to mean that it should not deal with either side.

Against the backdrop of the dust the matter had raised across the country, the embattled ADC leadership, had accused the former Deputy Chairman of being sponsored by the All Progressives Congress (APC) to play the spoiler role to enable President Bola Tinubu have no challenge in the 2027 presidential election.

Advertisement

Bolaji Abdullahi, spokesman of the Mark camp, had last week, stated this much when he wondered how Gombe, who on his own could not afford an ordinary lawyer, going by his financial status, would now be hiring more than three Senior Advocates of Nigeria (SANs) to represent him, which would probably run into tens of millions of naira.

Reacting on Tuesday, Gombe admitted getting outside help, but added that such assistance was not coming from government quarters or the APC, but from public-spirited individuals and Nigerians averse to the injustice being meted out to him.

Abimuku Monday, spokesman to Gombe, who spoke during an appearance on Morning Briefs, a breakfast programme on Channels Television, on Tuesday, told his host: “Before now, they were saying these people are big weights and we’re light weights. Now, we’re suddenly being seen as human beings. Earlier, we were seen as nobodies – as boys who don’t have capacity to challenge this in court.

“They say Nafiu Bala does not even have money to pursue his case. You see, that’s how they reduce people by their own estimation. They don’t find out who people. They have forgotten that for you to seek legal actions, there are so many ways to go about it.

“It is either you use your own money or your personal relationship with people. Does it mean that somebody in politics cannot have his own friends or cannot have lawyers as his friend or cannot have other members of the society as his friends.

Advertisement

“These are not members of the APC. They don’t belong to any party. They’re citizens of this country, who mean well for Nigeria. Nobody is scuttling the coalition. The fact remains that if you have a challenge, people will rally around you knowing it’s a good cause you’re fighting. People will rally around you to give you the necessary support that you need. They even called my principal a small boy.”

Share this story:
Continue Reading

News

Woman returns N1million discovered in purchased items to owner  

Published

on

Serah Luca, a Christian woman, has returned N1 million she unknowingly took along with goods purchased from a trader at Terminus market in Jos, Plateau state capital.

Luca, a petty trader, reportedly said she made the purchase on Friday and only discovered the hidden cash after getting home.

She said her decision to return the money was driven by fear of God and her belief that she could not keep what did not belong to her, especially knowing the hardship that comes with losing money in business.

“I am a petty businesswoman. I know what it means to suffer loss. If I put that kind of money into my business, I believe God would punish me,” Daily Trust quoted her as saying.

Advertisement

The trader, Abubakar Dola, who deals in polythene bags at Terminus market, expressed surprise at the woman’s honesty, noting that he had no idea where the money went after mistakenly placing it inside the bag she bought.

Dola said he had planned to transfer the cash through a point of sales (POS) operator but became worried when he could not see the polythene bag where the money was kept.

“I mistakenly included it in what she bought. I didn’t realise until days later, and I had already given up hope. For her to return it after three days is remarkable. I pray Allah rewards her and gives us more people like her.”

Advertisement
Share this story:
Continue Reading

Trending