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Full List: 13 New Governors Borrowed N226.8bn In Six Months – DMO

Published

2 years ago

March 31, 2024

Editor

In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers.

This emerged as findings by The PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively.

The external debt was calculated based on the exchange rate of N889/$ used by the Debt Management Office in its report.

This is according to an analysis of the latest sub-national debt reports released by the DMO.

The sub-national debts are classified into domestic borrowings from local creditors and external borrowings from international creditors like the World Bank and the International Monetary Fund.

The domestic and external debts published on the DMO’s website were as of December 30 and June 30, 2023, respectively.

The states, which include Benue, Cross Rivers, Katsina, Niger, Plateau, Rivers, Zamfara, and the Federal Capital Territory, got N115.57bn from domestic creditors, while governors of Ebonyi, Kaduna, Kano, Niger, Plateau, Sokoto, Taraba and Zamfara states borrowed $125.1m (N111.24bn) from external sources.

For the sub-nationals, a further breakdown of the data showed that Cross Rivers Governor, Bassey Otu, took the highest loan, with N16.2bn from domestic and $57.95m from foreign creditors between June and December 2023.

Katsina State followed with the debt surging by N36.93bn from N62.37bn to N99.3bn by December 2023.

Third on the list is Niger State, with a domestic debt of N17.85bn, surging from N121.95bn in June 2023 to N139.8bn by December of the same year.

Plateau got N16.32bn; Rivers borrowed N7.07bn; Zamfara, N14.26bn; and the FCT under the leadership of Nyesom Wike borrowed N6.75bn from domestic creditors.

For foreign debt, Governor Francis Nwifuru of Ebonyi State accumulated external debt of $37.54m, while Governor Uba Sani of Kaduna State borrowed $17.69m from external financiers.

Similarly, the governors of Kano borrowed $6.6m; Niger, $1.27m; Plateau, $831,008; Sokoto, $499,472; Taraba, $1.51m; and Zamfara, $655,563, from external sources.

Despite declarations by the administration of President Bola Tinubu that it would not continue with the massive borrowings of the previous government to fund its expenditures, the latest developments show that the new government is sticking to the controversial policy amidst increased revenue.

In 2023, state governors got the most Federal Account Allocation Committee allocations in at least seven years. The rise in FAAC allocations to the three tiers of government, especially the states, followed the removal of subsidy on petrol and currency reforms by the Tinubu administration. The reforms have reportedly led to a 40 per cent boost in income.

An analysis of the 2023 FAAC monthly allocations revealed that the sub-national and local government councils got the highest allocation of N627.73bn in September, followed by N610.5bn in December, N555.75bn in August, N533bn in November, N514bn in July and N497.97bn in October.

PUNCH

Headline

Taliban Attacks Kill 23 In Northwestern Pakistan

Published

3 hours ago

October 11, 2025

Editor

The Pakistani Taliban on Saturday claimed responsibility for deadly attacks in several northwestern districts that killed 20 security officials and three civilians.

The attacks, which included a suicide bombing on a police training school, were carried out on Friday in several districts of Khyber Pakhtunkhwa province that borders Afghanistan.

Militancy has surged in Khyber Pakhtunkhwa since the withdrawal of US-led troops from neighbouring Afghanistan in 2021 and the return of the Taliban government in Kabul.

Eleven paramilitary troops were killed in the border Khyber district, while seven policemen were killed after a suicide bomber rammed an explosives-laden car into the gate of a police training school, which was followed by a gun attack.

Five people, including three civilians, were killed in a separate clash in Bajaur district, security officials told AFP on Saturday.

The Pakistani Taliban, the Tehreek-e-Taliban (TTP), claimed responsibility for the attacks in messages on social media. The group is separate from but closely linked with the Afghan Taliban.

The attacks came hours after Afghanistan’s Taliban government accused Pakistan of “violating Kabul’s sovereign territory”, a day after two explosions were heard in the capital.

Pakistan did not say if it was behind the blasts in Kabul, but said it had the right to defend itself against surging border militancy.

Islamabad accuses Afghanistan of failing to expel militants using Afghan territory to launch attacks on Pakistan, an accusation that authorities in Kabul deny.

The TTP and its affiliates are behind most of the violence — largely directed at security forces.

Including Friday’s attacks, at least 32 Pakistani troops and three civilians have been killed this week alone in the border regions.

AFP

Headline

US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

Published

3 hours ago

October 11, 2025

Editor

The United States on Friday threatened to impose sanctions and take other punitive action against any country that votes in favor of a carbon tax on maritime transportation to be implemented through a UN agency.

“We will fight hard to protect our economic interests by imposing costs on countries if they support” the Net Zero Framework, said a joint statement by US Secretary of State Marco Rubio and his counterparts at the departments of energy and transportation.

Members of the London-based International Maritime Organization (IMO) are set to vote next week on the adoption of the Net Zero Framework (NZF) agreement aimed at reducing global carbon emissions from the shipping sector.

Washington, however, described the proposal as imposing “a global carbon tax on the world.”

Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.

In the statement, Rubio, Energy Secretary Chris Wright and Transportation Secretary Sean Duffy said the Trump administration “unequivocally rejects” the NZF proposal.

They threatened a range of punishing actions against countries that vote in favor of the framework, including: visa restrictions; blocking vessels registered in those countries from US ports; imposing commercial penalties; and considering sanctions on officials.

“The United States will be moving to levy these remedies against nations that sponsor this European-led neocolonial export of global climate regulations,” the statement said.

Headline

Top 10 Most Powerful Countries In The World In 2025 And Why

Published

3 hours ago

October 11, 2025

Editor

Power in the global arena is no longer measured by military strength alone; for powerful countries, it encompasses economic resilience, political influence, technological advancement, cultural impact, and the ability to shape international alliances.

A new ranking by US News, developed in partnership with the BAV Group (a division of WPP) and Professor David Reibstein from the Wharton School, University of Pennsylvania, highlights the countries that command the greatest global influence in 2025.

How the Rankings Were Compiled
The Power Sub-Ranking by US News was determined based on an equally weighted average of five key attributes that signify a country’s global might:

Top 10 Most Powerful Countries in the World (2025)

United States – With a GDP of $30.34 trillion and a population of about 347 million, the U.S. remains the world’s most powerful nation, driven by its unmatched military, technological innovation, and global leadership.

China – The Asian powerhouse holds the second spot with a $19.53 trillion GDP and 1.415 billion people, maintaining significant influence in global trade, manufacturing, and diplomacy.

Russia – Despite economic challenges, Russia retains its strategic importance and military dominance, with a GDP of $2.2 trillion and a population of 143.8 million.

United Kingdom – The UK’s global clout stems from its strong economy ($3.73 trillion GDP) and active role in international politics and defense alliances.

Germany – As Europe’s largest economy, Germany boasts a GDP of $4.92 trillion and a population of 83.9 million, solidifying its leadership in technology, industry, and diplomacy.

South Korea – With a $1.95 trillion GDP and a population of 51.6 million, South Korea’s rise reflects its technological innovation and growing military strength.

France – A key European player with a $3.28 trillion GDP, France continues to wield influence through its diplomatic reach, defense capabilities, and global culture.

Japan – Boasting a $4.39 trillion GDP and 123.7 million people, Japan remains a technological and economic force in Asia.

Saudi Arabia – The kingdom’s $1.14 trillion economy and control over global energy markets reinforce its growing geopolitical importance.

Israel – With a $550.91 billion GDP and a population of 9.38 million, Israel earns its place among the top 10 thanks to its advanced military and leadership in innovation and technology.