Nigeria’s Public Debt Rises To N149trn

Published

4 months ago

June 28, 2025

Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, according to the latest data released by the Debt Management Office (DMO).

The nation’s public debt represents the indebtedness of the federal and state governments, as well as the Federal Capital Territory.

The Federal Government owes N74.89 trillion, while the 36 states and the Federal Capital Territory (FCT) owe the balance of N3.87 trillion.

The figure represents about 4. 72 trillion or 3.3 percent increase over the preceding quarter, with a debt stock figure of N144.67 trillion.

The data showed that external debt rose minimally by 0.5 percent between the end of 2024 and the end of March 2025 (N344 billion).

Although the nation’s external borrowing has been quite low since the last quarter of 2024, the Naira depreciation has had a very negative effect on the stock.

Domestic debt stood at N78.76 trillion as of the end of the first quarter compared to N65.65 trillion in March 2024.

Review Forest Farming Policy, Ondo Cocoa Farmers Beg Aiyedatiwa

Published

20 minutes ago

November 4, 2025

Editor

The cocoa farmers in Ondo State have appealed to the state Governor, Lucky Aiyedatiwa, to review the planned forest farming policy of the state to enable them to stay in the business.

It was gathered that under the proposed framework, each farmer would be required to pay a levy of N250,000 per hectare, N150,000 for polygon mapping and N100,000 for agro-forestry with a farming permit valid for only five years.

According to the concerned farmers, the proposed policy, though well-intentioned, would pose several challenges to them in terms of affordability to pay the amounts.

The farmers, in a letter made available to our correspondent on Tuesday, and addressed to the governor by their lawyer, Olugbenga Oke-Samuel, appealed to the state government to review the forest farming policy.

The letter read in parts, “We write on behalf of our clients, the indigenous cocoa farmers operating within the forest areas of Idanre and Akure, to respectfully seek your compassionate intervention regarding the newly proposed Government Policy on farming activities in forest reserves, particularly the Polygon Mapping initiative and the Agro-Forestry programme, introduced in compliance with the European Union’s Deforestation Regulation.

“While our clients appreciate the state government’s commitment to environmental sustainability and global trade standards, the financial and structural implications of the policy are deeply burdensome and threaten their livelihoods.

“Under the proposed framework, each farmer is required to pay a levy of N250,000 per hectare, N150,000 for polygon mapping and N100,000 for Agro-Forestry with a farming permit valid for only five years. This policy, though well-intentioned, presents several critical challenges.

“Some of the challenges the farmers would face in the new policy, according to the letter, include economic hardship, disparity in mapping costs, agro-forestry charges and infrastructure burden, among others.

“In light of the above, our clients respectfully request a downward review of the N250,000 per hectare levy to reflect the economic realities of peasant farmers. Subsidisation or full sponsorship of the polygon mapping exercise to ease compliance with EUDR.

“An extension of the farming permit to at least 50 years, allowing farmers to fully benefit from their long-term investment in cocoa cultivation. A review of Agro-Forestry charges to align with the actual market costs of tree planting.

“Your Excellency, our clients believe in your commitment to equity, sustainability, and inclusive development. We trust that you will consider their plight and act in the interest of fairness and economic justice,” the letter concluded.

It was earlier reported that the cocoa farmers farming in the forest reserves in Odigbo Local Government Area of the state staged a protest on the plan by an agro-firm to take their land.

However, the Aiyedatiwa-led administration, in a statement by the Chief Press Secretary to the Governor, Ebenezer Adeniyan, said some of the farmers were occupying part of the forest, saying an investigation was ongoing to identify genuine farmers with verifiable claims, separate from speculators and unlawful occupants.

News

JUST IN: Reps Make U-turn, Reconvene For Plenary Wednesday

Published

2 hours ago

November 4, 2025

Editor

The House of Representatives has reversed its earlier decision to suspend plenary for a week until local contractors owed various sums of money by the Federal Government are paid.

The lawmakers had on Tuesday during an executive session expressed displeasure at the poor implementation of the capital component of the 2024 and 2025 budgets and vowed to take strict measures against the Minister of Finance, Wale Edun, his Budget and National Planning counterpart, Atiku Bagudu and the Accountant-General of the Federation, Shamsedeen Ogunjimi if debts owed to the contractors were not settled within a week.

A few hours after the ultimatum was issued, the House, through its spokesman, Akin Rotimi, said the decision to down tools had been reversed owing to what he cited as “positive developments arising from engagements and interventions across various levels of government.”

The statement read, “The House of Representatives will reconvene for plenary on Wednesday, November 5, 2025, contrary to the earlier resolution to adjourn sittings until Tuesday next week.

“This decision follows positive developments arising from engagements and interventions across various levels of government concerning issues that informed the earlier adjournment, particularly matters relating to contractors’ agitations and the non-release of funds under the 2024/2025 budget.

“The development was formally conveyed to Honourable Members by the Clerk of the House of Representatives, Dr Yahaya Danzaria, Esq., via an internal memorandum issued on Tuesday evening.

“According to the communication, the early resumption will allow the leadership of the House to brief members on progress recorded in resolving these issues and other related matters of national importance.

“At Wednesday’s plenary, the House is expected to formally rescind its earlier adjournment resolution to enable proceedings to continue.

“The leadership urges all honourable members to make the necessary arrangements to be in attendance.”

News

Film Premiere: Edo In Talks With Embassies To Promote Safe Migration —Agazuma

Published

6 hours ago

November 4, 2025

Editor

The Edo State Government has opened talks with various embassies to establish modalities and strategies aimed at reducing or completely eliminating irregular migration, while promoting safe migration practices.

The Director General (DG) of the Edo State Migration Agency, Lucky Agazuma, disclosed this during the premiere of the film “Cold Dishes” held in Benin City.

He emphasized the need for stakeholders to work together to end the scourge of irregular migration in Nigeria.

Agazuma, who was part of the audience that watched the movie, said the Edo State Government has made remarkable progress in tackling irregular migration.

He noted that the Monday Okpebholo-led administration has continued to deliver good governance to the people of the state.

According to him, the government is creating jobs, regularising teachers’ appointments, improving the educational system, and intensifying public enlightenment campaigns to educate citizens on the dangers of embarking on irregular migration.

He expressed appreciation to the governor for prioritising the issue of irregular migration and for working tirelessly to curb it in the state.

Agazuma described irregular migration as “dangerous and deadly,” and assured that the agency would continue to assist intending travelers on safe and legal travel options.

“We are discussing with embassies in Nigeria to help promote safe migration and ensure Nigeria is a VISA free nation as it will help reduce the process of embarking on illegal migration.

“For the film that has been premiered today, it talks about migration and irregular migration and the dangers surrounding it.
As an agency we are working to check traffickers in the State and we have a government that is accountable to it’s citizens, working to improve their lives”

“The last administration relegated Edo people bringing in consultants to do the job here but the Governor Monday Okpebholo led administration has changed the narrative creating the atmosphere for Edo people to fix Edo themselves,” he said.

Agazuma further revealed that the agency has continued to rescue Edo indigenes from the hands of traffickers, including those who have been held in captivity for years in their search for greener pastures.

He called on citizens to shun irregular migration and ensure that they only travel through legal means to avoid falling prey to traffickers.

“Our work and focus as an agency is bringing the world to Edo. The administration of Monday Okpebholo is bringing good governance to Edo and in the long run eliminating irregular migration.”

A lead actor in the premiered film “Cold Dishes” and an Edo indigene, Osas Ighodalo, also expressed appreciation to Okpebholo for creating an enabling environment for the entertainment industry to thrive.

“Edo State is taking the lead in the fight against irregular migration and the government has continued to support all efforts to eliminate the scourge. I thank the Edo State government and the migration agency for standing with our returnees and rehabilitating them. The film is a call on all Stakeholders to do more,” she said.