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Reps Approve Tinubu’s $2.35bn External Loan Request

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The House of Representatives on Wednesday approved President Bola Tinubu’s request to secure a total of $2.347bn from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds.

The approval followed the consideration and adoption of a report presented by the House Committee on Aids, Loans, and Debt Management, chaired by Hon. Abubakar Hassan Nalaraba, during plenary presided over by Speaker Tajudeen Abbas.

Since assuming office in May 2023, President Bola Tinubu’s administration has secured substantial external financing to support government programmes and fiscal operations.

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Between May 2023 and May 2025, Nigeria obtained approximately $7.2bn in external loans from the World Bank, aimed at bolstering key economic reforms and development initiatives. In addition, the government received approval for a $1 billion facility from the African Development Bank, expected to be disbursed between 2024 and 2025.

READ ALSO:Reps Move To Regulate Cryptocurrency, POS Operations

Further strengthening its external financing portfolio, the House of Representatives in October 2025 approved a new borrowing plan, including $1.23bn to part-finance the 2025 budget and a $500m debut Sovereign Sukuk to be issued in the international capital market.

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These financing initiatives form part of the administration’s broader strategy to bridge budget deficits, refinance maturing debts, and stimulate economic growth through targeted investments.

According to the committee’s report, “The new borrowing plan comprises $1.23bn to fund the 2025 budget deficit and $1.12bn to refinance Nigeria’s Eurobond maturing in November 2025.”

The Deputy Speaker, Benjamin Kalu, who presided over the Committee on Supply where the report was considered, put the request before the House at plenary.

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READ ALSO:Reps Move To Regulate Cryptocurrency, POS Operations

The Committee on Supply considered the request of Mr President and made these recommendations. Do we accept these recommendations,” he asked, to which members replied in the affirmative.

Adopting the recommendations of the committee, the House authorised the Federal Government to “Implement the external borrowing component of the 2025 Appropriation Act amounting to ₦1.84tn (approximately $1.23bn) at the budget exchange rate of ₦1,500 to $1.”

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Lawmakers also approved for the government to access the loans through Eurobond issuance, loan syndication, bridge financing facilities, or direct borrowing from international financial institutions.

In addition, the House endorsed President Tinubu’s proposal to issue Nigeria’s first-ever Sovereign Sukuk bond of up to $500m in the international capital market, with or without a credit guarantee.

Recall that President Tinubu, in his earlier correspondence to the National Assembly, explained that the borrowing plan was necessary to bridge the gap between projected revenue and expenditure in the 2025 fiscal year and to enable the government to meet its debt obligations as they fall due.

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IPF Holds Annual Ijaw Media Conference December

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The Ijaw Publishers’ Forum has announced the second edition of its annual Ijaw Media Conference.

The conference themed “Safeguarding Oil and Gas Natural Resources for Future Generations in the Niger Delta” will take place on December 11, 2025, at KFT Place, beginning at 12 noon.

In a statement signed by the IPF National President, Comrade Ozobo Austin, the Forum noted that the conference is intended to strengthen public understanding of the dangers of oil theft, unchecked exploitation, and environmental pollution.

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READ ALSO:IPF Commends Tompolo’s Commitment To Security In Delta, Nigeria

The statement highlighted the severe harm these practices inflict on the region, affecting both ecological systems and human communities and hindering long-term development.

The 2025 planning committee, chaired by Arex Akemotubo, has Tare Magbei as Secretary. The committee is charged with the responsibility of a successful programme.

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Other members of the committee are:
Francis Abai, Financial Secretary while
Ezekiel Kagbala, Sunday Daniel; Mike Ugedi, Dr Kegbe, Sam Dogitimi,
Tam Okumbiri, serve as members.

READ ALSO:US Lawmakers Demand Answers From Trump Administration Over Chinese Chemical Shipments To Iran

The Forum urged leaders, stakeholders, and young people to work with relevant authorities and security groups to support continued public awareness efforts aimed at protecting the region’s natural resources and the wellbeing of its inhabitants.

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The IPF also called for sponsorship and invites all stakeholders and the wider public to attend the conference on December 11, 2025

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2027: Era Of ‘Ghost’ Voters Over, Says INEC Chairman

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The Chairman of the Independent National Electoral Commission, Prof. Joash Ojo Amupitan, SAN, has declared that identity theft and multiple voting, which have plagued Nigeria’s elections for decades, have been effectively eliminated following the deployment of the Bimodal Voter Accreditation System, BVAS.

Amupitan made the declaration in Abuja at the 2025 Digital Nigeria International Conference and Exhibitions organised by the National Information Technology Development Agency, NITDA.

In a statement issued on Tuesday by his Chief Press Secretary, Dayo Oketola, the INEC Chairman said BVAS had now become a decisive tool in protecting the integrity of votes ahead of the 2027 general elections.

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Represented by a National Commissioner, May Agbamuche Mbu, the INEC Chairman said the era of identity fraud in Nigeria’s elections is over, noting that BVAS has evolved into a foolproof verification mechanism at polling units across the country.

READ ALSO:US Lawmakers Demand Answers From Trump Administration Over Chinese Chemical Shipments To Iran

The BVAS device has become our frontline defence against identity fraud, ensuring that only the rightful and eligible voter can be accredited at the polling unit..

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“With the biometric safeguards now in place, voter impersonation has been effectively eliminated from our electoral system,” he stated.

He backed the claim with data from the recently concluded Anambra Governorship Election, where 6,879 BVAS devices deployed for the exercise recorded what he described as a highly commendable performance.

According to him, more than 99 percent of polling unit results were uploaded to the INEC Result Viewing portal on the same day as voting.

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These outcomes confirm that the deployment of BVAS and IReV is no longer experimental but an entrenched part of Nigeria’s electoral architecture. The figure announced at the polling units is the same figure visible to the public. Technology has safeguarded the vote,” he said.

READ ALSO:Court Orders Permanent Forfeiture Of $49,700 Recovered From Ex-INEC Official

Amupitan also stressed the importance of the legal backing now enjoyed by the Commission’s technological tools.

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He explained that while earlier innovations lacked statutory enforcement, the Electoral Act 2022, particularly Section 47 subsection 2, transformed digital devices from administrative guidelines into what he described as statutorily protected pillars of the electoral system.

This legislative foundation ensures that our digital tools have both operational and legal legitimacy. It has strengthened public trust and enabled the Commission to innovate with confidence,” he added.

Despite the progress, the INEC Chairman admitted that connectivity gaps remain a major challenge.

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READ ALSO:JUST IN: Senate Confirms Amupitan As INEC Chairman

He said the country’s 176,846 polling units, many of which are located in swamps, mountains, and remote communities, make real-time transmission of results one of the most difficult tasks during elections.

He, however, ruled out any possibility of returning to manual accreditation, which he described as vulnerable to human interference and a threat to electoral credibility.

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Amupitan maintained that the era of ghost voters in Nigeria is over, insisting that the Commission is committed to transparent, verifiable, and credible elections.

“The gains we have recorded are too significant to reverse. The Commission will continue to strengthen the system and upgrade to more seamless solutions in future elections,” he said.

“Our mission is simple. Every eligible voter must be accurately verified. Every vote must be properly counted. Every result must be transparently shared. Technology has helped us to secure these foundations of democracy.”

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JUST IN: Wike, Govs Makinde, Bala Mohammed Clash At PDP Secretariat

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Chaos erupted at Peoples Democratic Party, PDP, National Secretariat in Abuja on Tuesday as rival factions, led by Governors Seyi Makinde of Oyo State and Bala Mohammed of Bauchi State on one side, and FCT Minister Nyesom Wike on the other, clashed over control of the party’s headquarters amid the ongoing leadership dispute.

According to ARISE, security operatives aligned with both the FCT minister and governors Seyi Makinde and Bala Mohammed engaged in a chaotic standoff over control of the complex, with teargas reportedly deployed around the premises by both sides.

READ ALSO:BREAKING: Drama As Wike-backed PDP Expels Makinde, Mohammed, Dauda

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Governor Makinde stormed the venue alongside the newly elected National Secretary, Taofeek Arapaja, while Nyesom Wike remained with Samuel Anyanwu, the embattled National Secretary who maintains that his tenure remains valid until December 8, 2025.

Party leaders have expressed deep concern over the incident, accusing the police of failing to maintain neutrality amid the ongoing leadership crisis within the opposition party.

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