Politics
Nigeria Can’t Continue In Path Of Rising Debts – Experts Tackle Tinubu

Economic experts have said Nigeria cannot continue on the path of indebtedness amid incompetence and inefficiency.
The economic analysts were reacting to the All Progressives Congress, APC, presidential candidate, Bola Ahmed Tinubu’s recent comment on Nigeria’s 2023 appropriation bill.
Recall that Tinubu remarked in his interaction with business stakeholders, in Lagos, that budget deficits are not necessarily bad.
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However, Nigeria’s rising debt profile has been a source of apprehension for many economists and ordinary Nigerians.
Certainly, for a country struggling on all fronts, a N77 trillion debt if the National Assembly approves President Muhammadu Buhari’s 23.7 trillion Ways and Means advance, according to the Debt Management Office, DMO recent statement, should raise dust.
With the country’s dwindling revenue portfolio and overbearing debt repayment burden, the fear continues to escalate.
In perspective, a breakdown of this year’s appropriation bill with N21.51 trillion expenditures and expected revenue of N9.73 trillion, shows that a whooping N6.31 trillion representing over 70 per cent of its aggregated revenue would be gulped by debt servicing and shooting up the country’s budget deficit to N10.78 trillion.
In plain economics, Nigeria’s debt situation does not look good.
Reacting to the development in a chat with DAILY POST, a financial inclusion/wealth management expert, Mr Idakolo Gbolade said budget deficit financing cannot translate to economic growth in Nigeria.
He stated that the budget deficit is causing Nigeria double digit inflation and depreciation of naira.
He added that historically, the budget deficit has not been productive because some of the projects financed by it are not economically viable. He cited Nigeria railway currently crippled by insecurity as an example.
“Budget deficit financing cannot translate to economic growth in Nigeria because deficit financing has led to double digit inflation with the country also battling chronic food inflation.
“The deficit financing has consistently weakened the Naira and has led rating agencies to downgrade Nigeria’s credit rating, thereby affecting flow of investment opportunities and ability of the private sector to source funding from foreign institutions.
“The deficits spending by Nigeria cannot be said to be totally productive because some of the infrastructural projects financed by the government are not commercially viable projects that can repay the loans used to fund them.
“A major example is the railways which have been rendered unproductive by insecurity that has affected their operations.
“Continuous deficit spending by the government would leave the government unable to undertake key social and infrastructural projects in the long run”.
Also, an Accounting and Financial Development don at Lead City University, Ibadan, Prof Godwin Oyedokun said Nigeria is having budget deficits owing to inefficiency and incompetence.
He said it was not good for a country to use a larger part of her income (revenue) on debt serving, as it is the case of Nigeria.
Also, he disclosed that the country’s budget deficit on recurrent expenditure would only plunge her unborn generation into debt trap.
He said the budget deficit becomes laudable if it is meant to finance capital expenditures.
READ ALSO: 2023: Arise TV Cameraman Sent Out Of Tinubu’s Event
“Yes, the budget deficit is not bad at all. My stand has always remained that the country shouldn’t use a larger part of her income to pay debt, that is where the problem comes. Another problem is how sincere are the government deficits in terms of budget? We are having a deficit where recurrent expenditure is not lower than the capital expenditures. It means we are going into debt to make a certain class of Nigerians to be wealthy. It won’t be an issue if most people in the economy are productive. You pay a salary for a job for twenty people instead of two people.
“We are deficiting on inefficiency and incompetence. Such will not develop the economy. If the budget deficit is on capital expenditures, this will bring about future cash flow into the economy. If the Central Bank of Nigeria’s 23 trillion ways and means is added, Nigeria’s debt profile would hit N77 trillion, this means that generations yet unborn will be using their income to pay the debt of their fathers who decided not to take governance seriously,” he lamented.
Politics
Tinubu Under Fire Over Presidential Pardon For Drug Offenders

Opposition parties and political figures, including the African Democratic Congress and former Vice President Atiku Abubakar, have condemned President Bola Tinubu’s recent decision to grant presidential pardons to dozens of convicted criminals, including drug traffickers, describing the move as a grave setback to Nigeria’s anti-drug campaign and a dangerous affront to justice and morality.
The Presidency on Saturday released a detailed list of 175 individuals granted the 2025 presidential pardon, among them the late nationalist Herbert Macaulay, the late Major General Mamman Vatsa, and Maryam Sanda, who was sentenced to death for killing her husband.
The pardon, which also included presidential clemency, covered more than 30 convicted drug offenders and several others jailed for crimes such as homicide, fraud, and illegal mining. The development has sparked widespread criticism and debate across the country.
In a statement on Sunday, ADC National Publicity Secretary, Bolaji Abdullahi, described the move as “pathetic and a national disgrace,” arguing that it undermines the nation’s war against drugs, encourages criminality, and damages Nigeria’s international reputation.
“The African Democratic Congress finds as pathetic and an act of immense national disgrace the recent presidential pardon and clemency granted to several convicted criminals by President Bola Ahmed Tinubu,” the statement read.
READ ALSO:JUST IN: Council Of State Meets As Tinubu Presents Nominees For INEC Chair
“It amounts to a most irresponsible abuse of the presidential power of prerogative of mercy to grant express pardon to dozens of convicts held for drug trafficking, smuggling, and related offences—especially when most of these convicts have barely served two years in jail for crimes that attract life imprisonment.”
The party said the decision sends a disturbing message that remorse and token rehabilitation are now sufficient grounds for freedom, even for serious crimes.
“According to official statements, it appears that all it takes to get presidential clemency for even the worst of crimes in Nigeria—including drug trafficking, gun running, and murder—is to show remorse and learn skills,” ADC said.
It added that the purpose of pardon and clemency is to correct miscarriages of justice and reintegrate those who have genuinely paid their debt to society, not to excuse dangerous offenders.
“We wonder what Nigeria stands to gain from this act of clemency to convicts serving life sentences who have barely served two years.
READ ALSO:Tinubu Grants Presidential Pardon To Herbert Macaulay, 174 Others
“For years, NDLEA officers have risked life and limb to combat this problem,” the party said. “Granting clemency to individuals convicted under such laws makes a mockery of their sacrifice and gives the world the impression that Nigeria, under President Tinubu, is sympathetic to drug dealers and a safe haven for traffickers.”
Also, Atiku said the pardon had “rightly sparked nationwide outrage.”
Atiku said while the presidential power of mercy is intended to balance justice with compassion, its misuse weakens confidence in the rule of law.
“Regrettably, the latest pardon issued by the Tinubu administration has done the very opposite,” Atiku said. “Extending clemency to individuals convicted of grave crimes such as drug trafficking, kidnapping, murder, and corruption diminishes the sanctity of justice and sends a dangerous signal to both the public and the international community.”
He described the decision as “shocking and indefensible” at a time when Nigeria is grappling with insecurity, moral decay, and a surge in drug-related crimes.
READ ALSO: FULL LIST: 175 Beneficiaries Of Tinubu’s Pardons
“Particularly worrisome,” he added, “is the revelation that 29.2 per cent of those pardoned were convicted for drug-related offences, even as our youth are being destroyed by narcotics and our nation continues to battle the global stigma of drug offences.”
In a pointed criticism, Atiku said the pardon raises “moral irony” given the lingering questions about Tinubu’s past in relation to a U.S. drug-related forfeiture case, noting that “it is therefore no surprise that this administration continues to show tolerance for individuals associated with criminal enterprise.”
“A presidential pardon should symbolise restitution and moral reform. Instead, what we have witnessed is a mockery of the criminal justice system, an affront to victims, and a demoralization of law enforcement.
“Clemency must never be confused with complicity. When a government begins to absolve offenders of the very crimes it claims to be fighting, it erodes moral authority and emboldens lawlessness.”
Atiku called for a review of the clemency process to ensure transparency, fairness, and respect for public interest, insisting that “Nigeria needs leaders who defend justice, not those who undermine it.”
Politics
Umahi Fires Back At Makinde Over Lagos-Calabar Highway Cost

The Minister of Works, David Umahi, has fired back at Oyo State Governor, Seyi Makinde, over his recent comments questioning the cost per kilometre of the Lagos-Calabar Coastal Highway, insisting that the governor misunderstood the technical details of road construction and cost evaluation.
Speaking during an inspection tour of the Keffi Bridge and the Nasarawa–Toto Road projects, alongside the state governor, Abdullahi Sule, on Saturday, Umahi said the cost of the highway had been carefully computed in line with global engineering standards and should not be reduced to “political soundbites.”
Governor Makinde had queried the minister’s estimated figures on the cost per kilometre of the Lagos-Calabar Coastal Highway, which is one of the signature infrastructure projects of President Bola Tinubu’s administration.
Makinde, who spoke at an event in a viral video on Friday, said there was no need for the Minister of Works, David Umahi, to be “dancing around the cost” of the project.
READ ALSO:Makinde Calls Out Umahi Over Coastal Highway Cost Analysis
He said, “These are elementary questions. And it makes no sense (sic). A process is ongoing, payment has been made, and you are saying, ‘How has this money been utilised?. The money is meant for the project, and it will be paid according to the work done.
Responding to the inspection tour, the former Ebonyi governor described Makinde as “a brother and friend” but said it was improper for him to publicly accuse him of “dancing around” figures.
“I heard that my brother and friend, Governor Makinde of Oyo state, said something about the cost per kilometre. I don’t want to join issues with him. I think he is an engineer, I think he is an electrician, they call it ‘elect-elect’. But this road construction matter, ‘elect-elect no reach there’,” Umahi said.
He continued, “I am his senior both in governance and in engineering practice. So, anything he doesn’t understand, he should call me and ask. I have great respect for him as my friend and brother, but he should withdraw the statement that I’m dancing around. I never danced around. If he insists, he should come for a debate, which is very important.”
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Defending the project further, Umahi explained that there was no ambiguity in determining the cost per kilometre, stressing that it must be understood in both estimated and average terms.
“There is no ambiguity in cost per kilometre,” he said. “I am teaching them that cost per kilometre can be divided into estimated cost, which has elements of variance, and average cost, which is definitive. The average cost of a definitive project and the estimated cost are probable elements.”
He explained that the estimated cost includes allowances for contingencies and variation of price, which may not eventually be utilised.
“When the project is completed, and you remove what you didn’t use, such as contingencies and VOP, then you have your actual cost,” he added.
READ ALSO:Umahi Terminates Benin–Warri Road Contract, Seeks Refund
Umahi expressed amusement that some critics had resorted to asking Artificial Intelligence to explain the difference between estimated and average cost, only for the AI’s response to align with his explanation.
“When somebody who is dangling without knowledge goes to ask AI what the difference is between cost per kilometre and average cost, I’m happy that AI told him exactly what I said,” the minister quipped.
He also cited the National Universities Commission’s clarification on who qualifies as a professor, noting that practical experience in the field also counts as expertise.
“I’m happy that the NUC programme on who is a professor also made me right. You can become a professor by the reason of your practice. And I think God has made me one when it comes to practical, field engineering programmes, that’s what it is; you can’t take it back,” Umahi said.
Politics
Enugu Gov Mbah Set to Dump PDP

Enugu State Governor Peter Mbah is set to dump the Peoples Democratic Party, PDP, for the ruling All Progressives Congress, APC, next week.
National Chairman and Deputy National Chairman, South-East, of the APC, Nentawe Goshwe Yilwatda and Emma Eneukwu, respectively, broke the news in Abuja on Friday.
The APC national leadership revealed Mbah’s imminent defection to the ruling party while swearing in the newly inaugurated members of the Enugu State caretaker committee, led by former state chairman, Ben Nwoye, at the party’s national headquarters in Abuja.
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The governor is expected to announce his defection at an event schedule to hold in the state next week.
Chairman of the newly inaugurated caretaker committee, Nwoye, who confirmed the development, said the governor will join the ruling party alongside all his appointees.
There are speculations that Taraba State Governor, Agbu Kefas, is also set to join APC.
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