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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

Anambra Guber: “Soludo to Moghalu: ‘We Know Ourselves’

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As Gov Soludo Welcomes Moghalu with Warm Gesture at Public Event

In a lighthearted moment at a recent event, Anambra State Governor, Charles Soludo, spotted Labour Party governorship candidate, Dr. George Moghalu, in the audience. Soludo, known for his wit, took the opportunity to welcome Moghalu to the stage, saying, “My brother, you’re welcome. I heard you’re contesting for something, but it seems like there’s something you’re shying away from.”

The crowd erupted in laughter as Soludo continued, “Forget it, we know ourselves. After you finish your ‘rigmarole,’ you can come to me; we’re both brothers.” The comment was met with applause and chuckles from the audience.

What followed was even more telling of their relationship. After stepping down from the podium, Soludo walked over to Moghalu, and the two shared a warm moment, laughing and shaking hands. A photo of the encounter has since circulated, showcasing the cordial relationship between the two figures.

The exchange has sparked interest in the dynamics between Soludo and Moghalu, particularly given their political affiliations. While Soludo’s comments seemed lighthearted, they may also hint at a deeper connection or understanding between the two leaders.

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Wike Offered Me Billions Of Naira To Compromise Rivers Election Says General Jamil Sarham

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‎May 21, 2019
‎Sahara Reporters, New York
‎News

‎Governor Wike is accusing Sarham of running a massive oil theft in the state as well as sending troops to assassinate him on the 15 of February 2019.


‎Jamil Sarham, general officer commanding 6 division of the Nigerian army, has said Nyesom Wike Offered him billions of Naira in bribe to compromise the governorship elections in the state.

‎Aminu Iliyasu, the division’s spokesman, Sarham said governor Wike decided to witch hunt him when he turned down the offer.

‎Governor Wike is accusing Sarham of of running a massive oil theft in the state as well as sending troops to assassinate him on the 15 of Febuary 2019.

‎Denying the allegations, Sarham said: “Wike’s resentment against me is based on my choice of professionalism and integrity over the billions of naira offered me by the Rivers state governor to compromise the 2019 general election,” the statement read.

‎“My refusal to be bought over and the rejection of the hefty offer is the genesis of Wike’s hatred and vociferous criticisms of me.

‎“On the mischievous accusation against Maj. Gen. Sarham of leaking proceedings of State Security Council meetings to criminals in Rivers State, Mr. Wike knows well that Maj.-Gen. Sarham is not a member of the Rivers State Security Council, neither has he ever approached the gates of Rivers State Government House, since his assumption of office as the GOC, 6 Division.

‎“Mr. Wike only came face-to-face with Maj. Gen. Sarham on the 15th of January, 2019, during the 2019 Armed Forces Remembrance Day parade at Isaac Boro Park, Port Harcourt.

‎“The Nigerian Army wishes to challenge Wike to provide the public with any evidence of such meetings, with Maj. Gen. Sarham in attendance. Wike’s allegation against Maj.-Gen. Sarham’s selfish involvement in illegal oil bunkering is another reckless, spurious and mischievous accusation.

‎“Hence, Headquarters of 6 Division wishes to request the Rivers governor to take the most civilised way of putting up a petition to the relevant authorities, to make a point.”

Culled from Sahara reporters archive
‎­

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Shettima jets out to New York for 80th UN General Assembly

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Vice-President Kashim Shettima has departed Abuja, Nigeria, to attend the 80th session of the United Nations General Assembly, holding in New York, United States of America.

This is contained in a statement issued by Mr Stanley Nkwocha, Senior Special Assistant to The President on Media and Communications (Office of The Vice President), on Sunday in Abuja.

Ekwutosblog reports that the session will hold between Monday, September 22 and Sunday, September 28.

Nkwocha said Shettima, who is representing President Bola Tinubu, at the global event, would deliver Nigeria’s national statement and join other dignitaries at the UN high-level general debates, among other side events.

He revealed that the vice-president would announce Nigeria’s new Nationally Determined Contributions, NDCs, under the Paris Agreement at this year’s UN special event on climate.

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