News

N77tn Debt Not Manageable, Says OPS

Published

3 years ago

January 8, 2023

The Lagos Chamber of Industry as well as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have expressed dismay at the recent revelation that Nigeria’s debt could hit N77tn if the National Assembly agrees to the Federal Government proposal to restructure its N22.7tn Central Bank of Nigeria loan.

Reports say Nigeria’s public debt burden might hit N77tn if the National Assembly approves the request by President Muhammadu Buhari to restructure the Ways and Means Advances.

This followed comments by the Director-General of the Debt Management Office, Patience Oniha, who spoke during the public presentation of the 2023 budget organised by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed.

Speaking in an interview with The PUNCH, the Deputy-President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, said the government ought to find creative solutions to revenue generation beyond its frequent recourse to taking loans.

He also noted that government borrowing, especially when it is as frequent as it has been with the current administration, ends up stifling the private sector’s ability to take loans from the banking system.

He said, “The issue of sustainability is no longer being considered by the government. This government just wants to borrow its way out of the remaining term and then leave the problem for the next government. That’s just to put it mildly. So, the bigger picture of sustainability and structure will have to be addressed by the incoming government because the level of borrowing now is not sustainable by our revenue.

“As a country we are not generating enough revenue to service our debts and still run a government. Since last year, we have been living on borrowed money because the debt servicing has crossed 100 per cent of our revenue. If you look at our budget every year, when you look at the debt servicing, it is higher than the estimated revenue. So we just borrow on top of all that to run the government. That is what we are doing now. It is not sustainable.”

News

JUST IN: FCT Head Of Service Is Dead

Published

2 hours ago

September 1, 2025

Editor

The Pioneer Head of the Civil Service of the Federal Capital Territory, Mrs Grace Adayilo, is dead.

The late Adayilo reportedly died in the early hours of Monday, 1st of September, 2025.

The Special Assistant on Media to the HoS, Anthony Odey, confirmed the reports to our correspondent in a short text.

“Yes, please,” the text message read.

Odey, however, gave no further details surrounding the circumstances of her death.

Recall that President Bola Tinubu approved the appointment of Grace Adayilo as the Head of the Civil Service of the FCT on the 6th of October 2024, with the appointment taking effect immediately.

She made history as both the first HoS and the first female HoS of the FCT.

Before her appointment, Adayilo served as the Permanent Secretary of the Agriculture and Rural Development Secretariat.

As of the time of filing this report, no official statements have been made by the family or the FCT Administration.

News

JUST IN: Finnish Court Jails Simon Ekpa Six Years For Terrorism Offences

Published

4 hours ago

September 1, 2025

Editor

The Päijät-Häme District Court on Monday sentenced Nigerian-born Finnish, Simon Ekpa, to six years in prison for terrorism-related crimes and other offences, according to official court documents seen by BBC News Pidgin on Monday.

The 40-year-old former municipal politician from Lahti was convicted on multiple charges, including participation in the activities of a terrorist organisation, incitement to commit crimes for terrorist purposes, aggravated tax fraud, and violations of the Lawyers Act.

The court ordered that Ekpa remain in custody.

According to the judgment, between August 2021 and November 2024, Ekpa attempted to promote the independence of the so-called Biafra region in southeastern Nigeria through illegal means.

“He used social media to gain a politically influential position and took advantage of the confusion within a key separatist movement in Nigeria to play a significant role in it,” the court statement stated as reported by BBC News pidgin.

Ekpa denied all the charges against him.

The court also found that Ekpa was instrumental in founding and developing the separatist movement into a more organised structure, working alongside others.

It was revealed during the trial that armed groups were established under the movement, which the court classified as terrorist organisations.

“Ekpa equipped the groups with weapons, explosives and ammunition through his contact network. He also urged and enticed his followers on X (formerly Twitter) to commit crimes in Nigeria,” the court said.

The trial was conducted over 12 sessions between May 30 and June 25, 2025, with a panel of three judges unanimously delivering the verdict.

Finnish authorities arrested Ekpa in December 2024 on charges linked to terrorism.

He was held on probable cause and suspicion of publicly inciting people to commit crimes with terrorist intent.

The alleged offences were said to have occurred between August 23, 2021, and November 2024, primarily in the city of Lahti.

The Finnish National Bureau of Investigation also initially arrested four other men in connection with the case. However, charges against them were later dropped due to insufficient evidence.

Ekpa, who previously served as a municipal councillor in Lahti, is widely known for his controversial role in the Biafran separatist movement.

His online broadcasts and social media activity have drawn both support and condemnation within and outside Nigeria.

News

JUST IN: Doctors Issue 10-day Ultimatum, Threaten Strike

Published

4 hours ago

September 1, 2025

Editor

The Nigerian Association of Resident Doctors issued a 10-day ultimatum to all relevant government agencies on Monday, warning that its members would embark on a nationwide strike if the demands were not met.

NARD disclosed this in a communiqué signed by its President, Dr. Tope Osundara; the General Secretary, Dr. Oluwasola Odunbaku; and Publicity and the Social Secretary, Omoha Amobi, issued after its Extraordinary National Executive Council meeting, which was held virtually on Sunday.

In July, NARD had issued a three-week ultimatum, but in the interest of industrial harmony, the NEC granted the National Officers’ Committee an additional three weeks to engage with all relevant stakeholders, after which it would reconvene to reassess the extent of implementation of its demands.

In Sunday’s meeting, the E-NEC condemned the failure of the Federal Government to fulfil its promises, noting with dismay that a substantial number of resident doctors remain unpaid for their 2025 Medical Residency Training Fund, and the refusal to pay the outstanding five months’ arrears arising from the 25 per cent/35 per cent Consolidated Medical Salary Structure review, as well as other longstanding salary arrears.

It also condemned the government’s failure to pay the arrears of the 2024 Accoutrement Allowance.

“The E-NEC expressed displeasure over the unjust downgrading of the membership certificates of the West African Colleges of Physicians and Surgeons by the Medical and Dental Council of Nigeria, as well as the persistent non-issuance of membership certificates by the National Postgraduate Medical College of Nigeria.

“The E-NEC condemned in strong terms the failure of the Kaduna State Government to honour its commitments to members under ARD Kaduna and Barau Dikko Teaching Hospital, despite earlier agreements and signed Memoranda of Understanding. The E-NEC condemned the failure of the Oyo State Government to address the challenges faced by members of ARD LAUTECH Teaching Hospital, Ogbomosho, despite an ongoing indefinite strike action in the hospital,” it noted.

It, however, commended state governors who have demonstrated commitment to the welfare of doctors by paying the 2025 MRTF.

Meanwhile, the doctors said that if their demands are not met by September 10, 2025, they would embark on a nationwide strike.

E-NEC, however, demands the immediate payment of the outstanding 2025 MRTF to all eligible resident doctors by the Federal Government, as well as the settlement of the outstanding five months’ arrears of CONMESS, alongside other longstanding salary arrears.

The Council also demands, “The immediate payment of the arrears of the 2024 Accoutrement Allowance. The E-NEC demands the commencement of payment of specialist allowances to all doctors without further delay, given their indispensable role in delivering specialist medical care across the nation. The E-NEC demands that the MDCN immediately restore the recognition of the West African postgraduate membership certificates to their rightful status and calls on the NPMCN to commence without delay the issuance of membership certificates to all deserving candidates, in line with international best practices.

“The E-NEC demands the immediate implementation of the 2024 CONMESS and resolution of all outstanding welfare concerns in Kaduna State, noting that the indefinite strike by our members has already resumed and will continue until these demands are met. The E-NEC demands that the Governor of Oyo State, His Excellency Governor Seyi Makinde, immediately resolve the welfare concerns of resident doctors under the employment of the state government, particularly those at LAUTECH Teaching Hospital, Ogbomosho.

“The E-NEC urges all State Governors to prioritise the welfare of doctors in their state-owned hospitals and training institutions, ensure the timely payment of MRTF to their resident doctors, and take proactive steps to curb emigration while maintaining industrial harmony.

“The E-NEC extends the ultimatum by a final 10 days to all relevant government agencies to meet these demands. Failure to do so within this period (expiring on Wednesday, 10th September 2025) will leave the NEC with no other option than to embark on a nationwide strike action.”