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Nigeria incurred N24.33trillion debt in just three months — Debt Management Office

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The Debt Management Office (DMO) has said that Nigeria’s total public debt has surged to N121.67trillion, marking an increase of N24.33trillion or 24.99 percent over a span of three months.

The DMO’s new figure of Nigeria’s public debt contrasts with a total debt of N97.34 trillion recorded as of December 2023.

According to the revelation made by the Office in a statement issued on Thursday in Abuja, the current public debt figure encompasses both domestic and external debts of the Nigerian government, the 36 state governments, and the Federal Capital Territory (FCT).

The DMO report states, “Nigeria’s total public debt stood at N121.67 trillion (USD91.46 billion) as of March 31, 2024. The comparative figure for December 31, 2023, was N97.34 trillion (USD108.23 billion). Total Domestic Debt amounted to N65.65 trillion (USD46.29 billion) while Total External Debt stood at N56.02 trillion (USD42.12 billion).”

Also, on Thursday, it was reported that the government had secured loans totaling $4.95billion from the World Bank over the past 12 months, amid concerns about rising costs associated with servicing external debt.
Meanwhile, the government anticipates the approval of fresh loans amounting to $4.4 billion from both the World Bank and the African Development Bank within the coming year.

Nah una way be citizens of dis kontry go pay for the money ????????????????

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Politics

“I’m not a fraudster”, Hope UZODINMA media aide Ambrose Nwaogwugwu affirms

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Ambrose Nwaogwugwu
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Governor Hope UZODINMA Senior Special Assistant on creative media have narrated part of his history and travails in politics and media, in his Facebook page he stated “I joined Facebook in 2010, started following current affairs in 2011, and began writing about politics in 2012. Since then, I have remained consistent to this day.

I was awarded “The Most Vibrant and Social Media Informer of the Year” by Imo Social Media Searchlight Concept, an event organized by Mc Tboy Samuel and his boss, MC Banana Mouth….the first in Imo state social media community.

Same year, April 2014, I received my first political appointment as a media consultant to the Speaker of the Imo State House of Assembly, Rt. Hon. Benjamin Uwajumogu (may God continue to rest his beautiful soul).

This marks 15 years on Facebook and 13 years of political engagement here. And in all these years, not a single person can claim that Ambrose Nwaogwugwu has defrauded them of even 1 kobo.

When you mention my name, people may call me all sorts of things—praise singer, sycophant, data boy, or even Uzodimma’s slave—and I wear these names as a badge of honor. However, no one can associate my name with any form of scam or fraud.

Were it not for politics, my name would have remained completely unblemished. But in life, one must be known for something. Nevertheless, if my name is mentioned in my absence, it will never be linked to fraud or dishonesty.

You are defined by how people speak of you in your absence, not by what they say when you are present.

I urge young people to be cautious in their dealings and avoid anything that could tarnish their reputation. There are individuals whose names, when mentioned, immediately bring to mind multiple accusations of fraud and scam—and when several people say the same thing, they can’t all be wrong.

Young people must do better.

I was raised with the fear of God, and I have always refrained from anything that could bring dishonor to my name. While growing up, my mother constantly reminded us that our name is NWAOGWUGWU, a prestigious name that must never be stained….that out name is not good in mkporo ghieghie (whilstling). She emphasized that stealing, fraud, and deception are not in our lineage—a principle I uphold to this day.

Apart from politics, no human born of a woman can accuse me of any wrongdoing.

Young people must strive for a better way of life.

Yes, times are tough, but there is dignity in honest labor. Defrauding and scamming others is not labor—it makes you nothing but a thief.” he  said

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Minister of the Federal Capital Territory, FCT, Nyesome Wike, has said that he has no plan to stop members of the Rivers State House of Assembly from performing the constitutional duties.

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Minister of the Federal Capital Territory, FCT, Nyesome Wike, has said that he has no plan to stop members of the Rivers State House of Assembly from performing the constitutional duties.

Part of the legislative functions of the Assembly is to impeach the governor if he is found wanting for going against stipulations of the law.

The lawmakers, about 27 of them, have been at loggerheads with Governor Siminalayi Fubara as they try to maintain their loyalty to the FCT minister.

The lawmakers led by Martin Amaewhule recently obtained victory at the Supreme Court, which ordered that they should resume their legislative duties.

The governor was also ordered to re-present the 2025 budget to the full House of the Assembly and reconduct the local council elections.

There are speculations about the majority lawmakers plotting the governor’s impeachment.

“I’m not going to stop the Assembly from performing their constitutional duties. People who love peace don’t threaten people,” Wike told a large number of Kalabari people on Saturday.

“Assembly must do their work, whatever they deem necessary and fit, that it is constitutional, they should do.”

He continued, “Let them tell me what initiative they have put on the ground. It is not to abuse us. You can abuse me as much as you want; I never bother myself. abuse Dey kill anybody?

“You don seen who abuse don kill? What is important is the result. Na who get high blood pressure now; no be them?”

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Prominent Rivers Monarch Rejects Wike’s Thanksgiving Service In His Domain, Cites Political Tension.

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message is because I called you and your PA severally in order to inform you of the latest development but no response. I’m very conscious of insecurity because of my old age & for the safety of my people.”

Declaring Abalama a non-partisan community, the king stated, “I and my people disassociate ourselves from the said event because we are not aware of the recent update. I think I was deceived with the letter I received earlier from Dr. D. A. Kelly, FNIQS, not knowing it was a different event that is upcoming.”

He urged the Commissioner of Police to take immediate action, warning that the organisers had no right to proceed without his approval.

“Abalama is an autonomous Community with a King and nobody has the right to organize such an event without my knowledge and the consent of my council of chiefs,” he emphasised.

 

The monarch concluded by reaffirming the community’s stance. “I and my people have resolved that the organisers of the event should take the event to anywhere of their choice,” he said, making it clear that Abalama would not be part of it.

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