In less than a month, Nigeria under President Bola Ahmed Tinubu’s administration has managed to accomplish what many considered a positive economic milestone: clearing off Nigeria’s debt with the International Monetary Fund (IMF). But no sooner had this news begun to settle than the same government turned around to request approval from the National Assembly to borrow a whopping $21.5 billion and issue a ₦758 billion pension bond. To say this move is contradictory would be an understatement; it is downright confusing and raises a crucial question: Where is the prudency?

Clearing the IMF debt was lauded by many observers and rightly so. The repayment of $3.4 billion in IMF loans, including the Covid-19 Rapid Financing Instrument, was seen as a fiscal credibility booster for the Tinubu administration. The move was hailed as an indication that Nigeria was turning a new leaf in financial discipline and economic responsibility. Statements from the presidency suggested that the country was strengthening its fiscal position to attract sustainable foreign investments.

Yet, the celebration was short-lived. In what feels like a cruel twist of logic, the administration has now approached the National Assembly to approve a new loan plan worth $21.5 billion and a domestic bond issuance of ₦757.9 billion to settle pension arrears. This raises critical questions about the government’s financial strategy. Why repay debt only to plunge deeper into it almost immediately afterward? Is this financial prudence or a cleverly disguised economic charade?

Let us be honest: Nigeria’s economic woes are not new. From oil price shocks to policy inconsistency and corruption, the nation has struggled to find a sustainable path to economic growth. Debt, unfortunately, has become a recurrent crutch. However, the issue now is not about debt in itself, as borrowing is an accepted economic tool. The concern lies in the sheer lack of a coherent strategy and the brazenness with which contradictions are paraded as policy.

It is important to understand what this new loan request implies. A $21.5 billion loan is not a small amount by any measure. Added to this is the proposed ₦758 billion bond meant to clear pension liabilities. While addressing pension arrears is necessary and overdue, should it be done through more borrowing when the government just made a song and dance about fiscal discipline? How sustainable is this cycle of clearing one debt only to amass more?

Let us revisit President Tinubu’s promise of fiscal responsibility. This term, by definition, entails sound budgeting, cutting down waste, increasing revenue, and borrowing only when necessary. The recent IMF repayment may have been seen as an effort in that direction, but it appears more like a smokescreen when viewed alongside the latest borrowing request. The administration seems to be more concerned about optics than actual economic stability.

Some will argue that the proposed loans are needed for infrastructure, agriculture, and power. But we have heard this before. Successive governments have justified massive borrowing with grand plans of infrastructure development, yet the results remain underwhelming. Nigeria’s roads are still riddled with potholes, power supply remains epileptic, and agricultural productivity is stifled by insecurity and outdated systems.

Moreover, the lack of transparency in how these borrowed funds are managed only compounds public skepticism. Where are the audit reports for past loans? What happened to the loans taken during the Buhari administration? Have those projects been completed, and if so, what value have they added to the economy? Until there is a culture of accountability and transparent implementation, every new loan will be seen as another round of fiscal misadventure.

Even more worrying is the proposed issuance of a ₦758 billion bond to offset pension liabilities. Pensioners are among the most vulnerable in our society, and neglecting their dues is unjustifiable. However, funding pensions through more borrowing sends a worrying message. It suggests that the government has not built adequate reserves or planned long-term strategies to honor its obligations. It reflects a hand-to-mouth approach to governance, an unsustainable financial model.

This back-and-forth economic strategy also affects investor confidence. One day, the government is praised for repaying debt, and the next day, it is in the news seeking to accumulate more. Investors are not just watching economic actions; they are also evaluating consistency, policy clarity, and long-term viability. What signal does this send to them?

We must also consider the impact on ordinary Nigerians. The majority are still reeling from inflation, unemployment, and a depreciating naira. Food prices are through the roof, transportation costs are unbearable, and many families are struggling to survive. To these Nigerians, headlines about billions in loan repayments and new borrowing mean little unless they translate into tangible economic relief. How does this fiscal acrobatics benefit them?

This administration must be reminded that fiscal prudency is not a PR tool. It is a governance principle that should reflect in policy decisions, budgetary allocations, and debt management strategies. If indeed the Tinubu administration is committed to economic reform, it must go beyond token gestures. It must present a comprehensive and transparent debt sustainability plan. Nigerians deserve to know the long-term economic blueprint. What are the repayment terms for the new loans? What projects will they fund? What is the expected return on investment?

Furthermore, the National Assembly must rise above partisan loyalty and play its oversight role effectively. Rubber-stamping every loan request without thorough scrutiny is tantamount to mortgaging the country’s future. The legislative arm should demand detailed project breakdowns, implementation timelines, and performance indicators before approving any new loans.

In conclusion, it is time the Tinubu administration matches its rhetoric with action. Fiscal credibility cannot be achieved by merely paying off debts. It requires consistent, strategic, and transparent economic management. It involves planning for the long term, cutting unnecessary spending, increasing internally generated revenue, and ensuring that every borrowed kobo is used for productive ventures.

The question remains: where is the prudency in paying off debt today only to plunge into even deeper debt tomorrow?

Nigerians are watching, and history will remember. It is not enough to clear debts for the sake of headlines. The real test lies in whether these actions bring relief to the masses and set the nation on a path to sustainable development. As of now, this looks more like a fiscal merry-go-round than a credible roadmap to economic recovery.

The world has never been short of demagogues and fools, but the remedies have often matched the supply. In 1990, during President Nelson Mandela’s thank-you tour of the world, he was asked at the City College of New York, Harlem, NY., why he remained friends with Muammar Gaddafi, Yasser Arafat, and Fidel Castro.

He replied that he didn’t think it was the business of any country to choose South Africa’s friends. These people stood by South Africa in its hour of need; why should he betray them now? His interlocutor turned tail, and Mandela received a standing ovation.

British Prime Minister Margaret Thatcher preached “constructive engagement” to dismantle apartheid. In response to her duplicity in 2004, the President of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, pointed out to her that “constructive engagement” favoured England, particularly the Prime Minister, whose son, Mark, was involved in gunrunning and coup plots on the continent. Thatcher had no response.

Castro v. Bush

Castro accused President George Bush of a “pirate mentality.” And he wasn’t being flippant. One of Africa’s worst kleptocrats, Joseph Desire Mobutu, worth $5 billion in the 1980s, visited President Bush in 1989.

Despite Mobutu’s appalling record, Martin Meredith in The Fate of Africa, quoted Bush as saying on the South Lawn of the White House, “Zaire is among America’s oldest friends, and its president – President Mobutu – one of our most valued friends. We are proud and very, very pleased to have him with us today.”

Like Castro, President Olusegun Obasanjo is also reputed not to suffer fools gladly. Stephen Sackur, anchor of the BBC programme HARDtalk, might recall when, in response to what Obasanjo perceived as a rude question, the former Nigerian president asked Sackur if he could pose that question to his prime minister.

In the lion’s den

There is a long list of leaders who confronted bullies without flinching. This quality, which is in demand more than ever before, is falling short, as shown by recent high-profile encounters in the White House since President Donald Trump’s second term. The White House, especially the Oval Office, has become for high-profile visitors what the lion’s den is to straying goats.

After Ukrainian President Volodymyr Zelenskyy’s antagonistic exchange with Trump, South African President Cyril Ramaphosa is the latest target. Almost from the moment the first live footage of the visit began airing, it was clear that Trump wanted only one thing.

He wasn’t interested in resetting trade talks or bilateral issues. He wasn’t interested in repairing ties between South Africa and the US or hearing firsthand the other view about the so-called genocide against white farmers. He wasn’t interested in conciliation. He was interested in only one thing: having Ramaphosa for lunch. And he did, which was painful and difficult to watch.

‘How did you get my number?’

From Trump’s question about “how did you get my number?”, gestures that suggested he valued the presence of the golfers in Ramaphosa’s entourage – Ernie Els and Retief Goosen – more than the president, to dumping piles of fake documents on the South African president and converting the Oval Office into a cinema while Ramaphosa was still speaking, Trump displayed utter contempt and disregard for his visitors.

The encounter made Zelenskyy’s visit appear like a lovefest. Some have argued that it reflects more poorly on Trump and the US that the host treated his guest so shabbily, raking him over the coals with fake and discredited materials, than on Ramaphosa, who kept his smile and rational stance. That is partially correct, but more than anyone else, Ramaphosa has himself to blame for the shambolic treatment.

Yellow flags

There were more than enough yellow flags beforehand. From the Executive Order in February, stopping all US financial assistance to South Africa, to the accusations of “white genocide”, to the expulsion of Ambassador Ebrahim Rasool, and the offer of “refugee” status to white farmers, Trump, mainly instigated by Elon Musk, has never disguised his misguided displeasure against South Africa.

The country’s decision to drag Israel to the ICJ over the war in Gaza and its leadership role in BRICS (which could potentially curtail the influence of the dollar), of course, were also unspoken sources of Trump’s anger.

If a war foretold does not take the disabled person by surprise, how could Ramaphosa have ignored these yellow flags and decided to visit the lair with a golfing picture book as a peace offering, instead of a luxury Boeing 747 jetliner, the perfect sacrifice?

Success. What success?

The South African president has described the visit as “a great success.” Perhaps that would be correct if he were describing his narrow escape. There is no readout or evidence of the “reset” Ramaphosa requested. As of today, the fake video of the crosses on the roadside, supposed to be memorials for about 1,000 murdered white South African farmers, is still playing on the X handle of the White House. Nothing has changed.

If Ramaphosa believes the visit was a success, his opinion has divided his country as much as it has a largely subdued continent. Femi Badejo, a diplomat and professor of Political Science, used the metaphor of a safari to describe the response across the continent. “If a lion grabs an antelope,” he asked me, “what do you think will happen to the rest of the herd?”

South Africa is not just another African antelope; it’s a leader in the pack. Although many African diplomats are publicly spinning Ramaphosa’s visit as measured and dignified, behind the scenes, they are scandalised at the possible fate that awaits them – and the continent – especially with the African Growth and Opportunity Act (AGOA) expiring in September.

Who’s next?

For many reasons, primarily economic, the Africa that once stood up to bullies or was even deemed worthy allies has become a thing of the past. The Egyptian leader, Field Marshal Abdel Fattah el-Sisi, may receive red-carpet treatment at the White House due to that country’s strategic importance to the US, just as Burkina Faso’s Captain Ibrahim Traore, Russia’s poster boy, may get flowers in the Kremlin. The others, grappling with internal security challenges, discontent and fragile economies, are on their own as they struggle to navigate a hostile and deeply divided world.

It would be a long time before another leader from the continent visits the White House, that is, if Trump has not closed half of the US embassies in Africa before he marks his first year in office. If, at this time, African leaders cannot find good company among themselves, they may as well learn to sit at home.

Award-winning Nigerian singer, David Adeleke, better known as Davido, has finally reunited with his first daughter, Imade Adeleke.

Naija News reports that the music star has been embroiled in a custody battle with his daughter’s mother, Sophia Momodu, since 2022.

Davido had filed a lawsuit at the Lagos State High Court in April 2024 to seek custody of Imade, after accusing Sophia of denying him access to their daughter.

In response, Sophia filed 102 paragraphs of counter-affidavit to oppose Davido, claiming that the singer failed to fulfil his responsibility as a father after she stopped having sex with him.

Reacting to the messy battle on social media, Sophia’s uncle and journalist, Dele Momodu, in a lengthy Facebook post, disclosed that the court has referred the case for possible settlement by the alternative dispute resolution (ADR).

However, in a new development on Wednesday night, Davido shared a reunion photo with Imade via his Instagram page and wrote, “Best day of my life.”

Meanwhile, Davido has claimed that he has more followers than his colleagues because he is open-minded and interacts freely with his fans.

He asserted that he is the most-followed African artist across social media because he shows a relaxed and free version of himself.

Speaking in a recent conversation with BET Talks, the With You’ hitmaker explained that being open-minded and interacting with fans made him garner more followers than his colleagues

He claimed that a lot of his colleagues are scared to show their authentic selves on social media.

[NaijaNews]

Saudi Arabian officials are in “difficult” talks to keep Cristiano Ronaldo in the country, a source with knowledge of the negotiations told AFP on Thursday, after the star footballer suggested he was leaving Al Nassr.

“There is an ongoing difficult negotiation to convince Ronaldo to stay and play” in the Saudi Pro League next season, said the source from the Public Investment Fund (PIF), a major investor in Saudi football.

“First option is a transfer to Al Hilal with an opportunity to feature in the FIFA Club World Cup or to Asia champion Al Ahli,” the source added.

Ronaldo posted “This chapter is over” overnight Monday, hours after the Saudi Pro League wrapped up with Al Nassr finishing third and trophyless once again.

A special transfer window opens from June 1-10 to allow the 32 teams involved in the Club World Cup to sign players.

FIFA president Gianni Infantino last week said “there are discussions” over the former United, Real Madrid, Juventus and Sporting Lisbon star playing at the enlarged tournament in the United States starting on June 14.

Portuguese forward Ronaldo, 40, joined Al Nassr in 2022 from Manchester United and his contract expires at the end of next month.

“Ronaldo’s presence is a key factor in developing the Saudi league in the last two years and a half. He opens the door for elite and young players to come to Saudi Arabia,” the source added.

[Guardian]

Former Vice President of Nigeria Atiku Abubakar has described the President Bola Tinubu-led administration as a failure, adding that no previous administration has inflicted the level of hardship on the masses while disregarding  transparency, accountability, and responsible leadership.

Atiku said in just two years, Tinubu’s administration has proven to be one of the most incompetent, disconnected, and anti-people governments in Nigeria’s democratic history.

He said the government has not only deepened poverty across the country, but it has also set new records in wasteful public spending.

The former vice president, in a personally signed statement, said at a time when millions of Nigerians are struggling to survive, government officials are living in excess and approving budgets that benefit the elite at the expense of the common man.

“It is sad that apart from being the poverty capital of the world, Nigeria has under this administration emerged as the unenviable position as the capital of  malnourished children in Africa having beaten Sudan, a nation that is at war.

“According to the Global Hunger Index 2024, our country is one of the most affected by hunger and malnutrition, occupying the 18th position.”

He said the administration’s policy has targeted the poor while providing relief and advantage to the rich.

“From healthcare to education to identity management and basic public services, Nigerians are now faced with class-based systems where the wealthy enjoy VIP treatment, and the rest are left behind.

“Just two weeks ago, the National Identity Management Commission (NIMC) hiked its fees by 75%, introducing VIP protocols for services that should be a basic right of citizenship. In education, public university fees have been raised far beyond the reach of poor families, with no adequate support mechanisms in place.

“Even more troubling is the scale of borrowing under this government. When President Tinubu assumed office in 2023, Nigeria’s total public debt stood at approximately N49 trillion. In just two years, that figure has skyrocketed to N144 trillion — a 150% increase — with more foreign loans now being requested, which could push the debt to N183 trillion.

“While the federal government racks up debt, state governments have shown more discipline, reducing their debt levels from N5.86 trillion to N3.97 trillion. The implication is clear: the federal government, under Tinubu, is the primary driver of Nigeria’s current debt crisis.

“President Tinubu’s justification — that new borrowing is needed to fund the 2025 budget and soften the impact of fuel subsidy removal — is both weak and dishonest. It was the reckless and insensitive way his government removed the subsidy that created much of today’s economic hardship in the first place.

“Today, Nigeria is a nation where the rich get richer, and the poor are punished for trying to survive. This reality can not and will not be ignored.

Atiku added that as opposition leaders and partners committed to the future of Nigeria, they will not stand by and watch democracy be reduced to a tool for elite control.

He added that the coalition rejects any attempt to turn Nigeria into a one-party state where dissent is silenced and power is abused.

“We are building a strong, united opposition coalition — one that will challenge the excesses of this administration, restore accountability, and return government to the people. We will protect the right of every Nigerian to freely choose their leaders, and we will continue to fight for economic justice, political freedom, and national progress.

“We are here to rescue Nigeria. And we will not stop until that goal is achieved,” he said.

[Leadership]

Super Eagles striker Cyriel Dessers has said that he sees himself as a full-blooded Nigerian.

The Rangers of Scotland striker made this comment while expressing delight at his return to the national team.

He said his mirror always reminds him of his roots, adding that he is looking forward to helping the West African giants secure more victories.

Dessers, who qualified to play for Nigeria because of his Nigerian mother, made his senior international debut in October 2020.

The Belgian-born attacker scored for Nigeria in the 2-1 win over Ghana in the Unity Cup clash at the Gtech Community Stadium in London on Wednesday.

“When you look in the mirror, you see Nigeria,” he told the Super Eagles media team.

“At the moment I got the call, I didn’t have to think about it for long. When you get the call, you want to go, I went.”

He said he hopes to represent Nigeria in major tournaments.

[DailyPost]

The borrowing plan submitted by President Bola Ahmed Tinubu to the National Assembly represents a proposal and consists of projected borrowings by the federal and state governments over the next two years.

The Presidency and the Ministry of Finance yesterday clarified that it is an all-inclusive national plan that comprises proposed loans by several states across the various geopolitical zones and the loan component of the Federal Government’s expenditure plan.

The clarification came against the misconception that the Federal Government intends to borrow under the current fiscal year.

President Tinubu on Tuesday sought approval from the National Assembly for the 2025–2026 External Borrowing Rolling Plan, totalling some $20 billion.

In three separate letters, the President sought approval for the borrowing of $2 billion for capital grazing funds, $21,543,647,912; 2,193,856,324.50 Euro, 15 billion Japanese yen, a grant of 65 million Euro and N757,983,246,571.

The Ministry of Finance explained that the rolling borrowing plan should not be confused with actual borrowing for any given year.

According to the ministry, the actual borrowing for each year is contained in the annual budget.

It said the external borrowing component of the 2025 budget, valued at $1.23 billion, is yet to be accessed.

The ministry explained that the rolling plan encompasses borrowing needs for the Federal Government and several state governments across geopolitical zones, including Abia, Bauchi, Borno, Gombe, Kaduna, Lagos, Niger, Oyo, Sokoto, and Yobe.

The ministry noted that the inclusion of projects in the borrowing plan does not imply an immediate or automatic increase in the nation’s debt burden, pointing out that, given the structure of the rolling plan, funding is drawn in phases depending on project timelines.

According to the government, many of the projects captured in the plan have financing arrangements spread over five to seven years and are specifically tied to projects in strategic sectors.

These strategic investments include national power grids and transmission lines, irrigation schemes to bolster food security, a nationwide fibre optic backbone, the acquisition of fighter jets to improve national security, and major rail and road projects.

A majority of the financing for these initiatives will be sourced from Nigeria’s development partners.

These include the World Bank, African Development Bank (AfDB), French Development Agency (AFD), European Investment Bank (EIB), Japan International Cooperation Agency (JICA), China EximBank, and the Islamic Development Bank (IsDB).

These institutions offer concessional loans with favourable terms and long repayment tenures, providing a relatively low-cost way for Nigeria to fund its development goals.

Special Assistant to the President on Social Media, Dada Olusegun, added that the document transmitted to the National Assembly outlines a comprehensive framework that spans a two-year period between 2025 and 2026, covering both federal and state governments’ external financing plans.

He said: “Periodically, nations come up with expenditure frameworks to guide how budgets will be executed over time.

“For the latest development, Nigeria’s MTEF covers a period of two calendar years: 2025–2026.”

According to him, the request by the President included details on how Nigeria, through the Federal Government and the 36 state governments, plans to access external funding for various development projects.

He noted that for the Federal Government, one of the core proposals is the raising of $2 billion from the domestic market targeted at infrastructure investments, the first of its kind among several other initiatives aimed at bridging the country’s infrastructural gap.

He also clarified the constitutional and procedural context of the financing plan, stressing that state governments are not permitted to seek international funding without federal backing.

“States cannot access international funding without the Federal Government as a guarantor, and as such, the Senate must approve all forms of external borrowing through the federal government,” Olusegun said.

He explained that in order to streamline the legislative process and avoid repeated borrowing requests, the government opted to present all projected external borrowing needs, federal and state, within a single framework.

He said: “It reeks of absolute lack of plan to keep going back to the Senate every month to get approval for external borrowings.

“As such, all planned borrowings—covering all 36 states and the federal government—over the next two years, have been presented as one to the National Assembly.”

He pointed out that approval by the National Assembly does also not equate to automatic disbursement or utilisation of the entire sum.

According to him, while it is still subject to approval, it also does not mean all such approvals by the National Assembly will be fully utilised by the various levels of government.

The Ministry of Finance explained further that the rolling borrowing plan is an integral part of the country’s Medium-Term Expenditure Framework (MTEF) structured in line with both the Fiscal Responsibility Act of 2007 and the Debt Management Office (DMO) Establishment Act of 2003.

It noted that the plan serves as the medium-term external borrowing guide, outlining the terms and implementation timelines of associated projects in five comprehensive appendices.

According to the ministry, through this structured approach, the government aims to maintain fiscal discipline while ensuring adequate investment in critical sectors.

It said the rolling plan also enables forward financial planning and prevents the inefficiencies and unpredictability of emergency or reactive borrowing practices.

On the issue of Nigeria’s debt sustainability, the Ministry of Finance noted that the debt service-to-revenue ratio, which exceeded 90 per cent in 2023, is already on a downward trend.

This improvement, it said, followed major fiscal reforms, including the discontinuation of inflationary ways and means financing from the Central Bank of Nigeria (CBN).

The government stated that it expected significant revenue growth from the Nigerian National Petroleum Company Limited (NNPCL), alongside increased remittances from government-owned enterprises (GOEs) and key revenue-generating ministries, departments, and agencies (MDAs), aided by technology-driven monitoring and enforcement mechanisms.

Also, legacy debts owed to the federal purse are also being recovered as part of the revenue enhancement drive.

With macroeconomic conditions showing signs of stabilisation, the Federal Government said it is now focused on moving the economy towards a trajectory of accelerated and inclusive growth.

Achieving this objective, it explained, requires sustained capital investment in transportation, energy, infrastructure, agriculture, and other priority sectors of the economy.

The ministry stated that the overarching goal is not to borrow indiscriminately but to ensure that loans are directed at projects with clear economic value and measurable impact.

“Our debt strategy is, therefore, guided not solely by the size of our obligations, but by the utility, sustainability, and economic returns of the borrowing.

“Ensuring that all borrowed funds are efficiently utilised and directed toward growth-enhancing projects remains a top priority,” the ministry stated.

The government reiterated its commitment to responsible borrowing, stating that all external loans will remain within the manageable thresholds outlined in the DMO’s Debt Sustainability Framework.

In addition, the ministry said that Nigeria’s ongoing tax reform agenda and related revenue mobilisation initiatives will further strengthen public finances, reduce dependency on debt, and promote financial prudence.

The Federal Government reaffirmed its commitment to fiscal discipline, openness in financial transactions, and responsiveness to public concerns.

It called for continued public engagement and strong legislative oversight as essential components of Nigeria’s long-term path to economic stability and national prosperity.

Olusegun reiterated that loans, when used judiciously, remain a vital tool for financing public development efforts.

“Loans in themselves are not bad instruments of financing public services.

“What Nigerians must focus on is how such loans are being utilised by the government. These are the questions that should be asked,” Olusegun said.

He reaffirmed President Tinubu’s commitment to his electoral promises and developmental agenda, stressing that the administration will not shy away from difficult but necessary decisions.

[TheNation]

In the travel notes of Thomas Malcolm Knox, a British philosopher, there was a searing description of Lagos as “a town of unspeakable squalor…filth everywhere”. Knox was the secretary to Lord William Hesketh Lever, one of the founders of Lever Brothers. What struck me the first time I read this portion of his journal entry in Stephanie Newell’s book, Histories of Dirt: Media and Urban Life in Colonial and Postcolonial Lagos (published in 2019), was the date the comment was recorded: the mid-20s of the last century. That was roughly one hundred years ago. If Knox and other British fellows who made unsavoury comments about Lagos while travelling through should wake up from their graves today and see the city still sizzling in its putrid juices, they would either be shocked or pleased that their racist projections of Africans had been vindicated.

Some of the cringey comments made about Lagos a century ago cannot be extricated from the racism, elitism, and imperialism of the writers, yet the description of the city they provided is uncannily familiar. Lagos is still everything it was, despite the passage of time. The Lagos of the early 20th century, as described in the book, was also a crucial economic hub and a magnet for people eager to capitalise on the business opportunities it offered. Houses and shacks sprang up at the most unsuitable sites, and it did not help that many migrants to Lagos brought their village practices (such as shunning pit latrines to defecate in the bush) to the heart of Nigerian civilisation. As another traveller recorded, Lagos was “a filthy, disgusting, savage place” where it was “unsafe to wander about in the streets”. The only places that were recorded as sane were the Brazilian quarters and the habitations of the Europeans.

While the oyinbos of the 21st century might have become too politically correct to point out our faults to us, our fellow Nigerians are not shy about calling Lagos “dirty”. The other day, a youth corps member serving in Lagos, Ushie Uguamaye, inflamed people when she described Lagos as dirty and smelly. Trust our people, a comment like that quickly became their opportunity to throw some tribal, generational, partisan, and sexist punches. While the young woman might have lacked tact, everyone knows what she said to be true. It is as true in 2025 as it was a hundred years ago. Recently, social media influencer Scott Iguama, who has been making videos that decry the high cost of real estate in Lagos, also made a similar comment about the poor hygiene conditions of Lagos. This time, he attracted the attention of Lagos State Commissioner of Environment and Water Resources, Tokunbo Wahab, who took to his social media account to take a jab at the people who relocate to Lagos from their home states to find better economic opportunities, only to begin disparaging the state for clout. I guess Wahab would have been less defensive about Lagos’ poor environmental conditions if the comments had come from a Yoruba person.

Wahab wrote, “While constructive criticism is essential for growth, malicious attempts to vilify a state that empowers countless lives daily are counterproductive. Lagos remains a place of opportunity, innovation, and resilience, and it is imperative that we collectively uphold its integrity while fostering unity and progress.” I am genuinely curious to know what the commissioner meant by upholding the integrity of Lagos. What is Wahab’s definition of integrity, and how does pointing out the obvious undermine it? How do you “foster unity and progress” by maintaining a lie?

To some extent, the discomfort of the commissioner and other locals who react to calling out the squalid conditions of the city is understandable. One of the stereotypes other tribes in Nigeria regularly lob at Yoruba is that of hygiene. The trope of the “dirty Yoruba” is the stuff of ethnic jokes, both light-hearted and mean-spirited ones. The thing is, calling other people “dirty” is not always about an objective assessment of their living conditions; it is also about making ethical valuations of them. Who or what we think is “dirty” is as much of a moral judgment of others as it is a description of their physical conditions. That is why the pushbacks by people like Wahab are excusable to some extent.

It is funny when Nigerians insult others based on the foul conditions of their living spaces, when there is virtually nowhere in the country that does not reek of under-maintenance. I have visited more than half of the state capitals, and there are only a few of them that are not in a state of decline despite the superficial improvements of a newly built bridge here and there. While most of our rural areas are filthy because they have hardly ever figured in any agenda of development planning, our urban places—where all governmental efforts are supposedly concentrated—are also perpetually in an unsanitary state. How many of our habitations, rural or urban, have what is akin to a sewage system? How many of our villages, towns, and cities have a regular water supply to begin with? Without an adequate and well-managed water supply system, people cannot maintain proper sanitary conditions. It is even worse for a country like Nigeria, where we do not plan our cities or project how they will grow over time to preemptively develop a management agenda. If more people are pointing fingers at Lagos than other states on these general problems, it is also because its socio-economic and socio-cultural dominance makes its problems far more magnified.

To the best of my knowledge, no state has developed anything close to a sophisticated waste management system, yet Lagos—due to its teeming population—appears to be the one drowning in its own trash. Unfortunately, Lagos also suffers from a severe shortage of water supply. When you watch the cooking videos of our social media “chefs” who live in so-called prime estates like Lekki, you see them using bottled water for cooking.

They cannot turn on the faucets like normal people around the world do and use water because what is pumped by their individual boreholes is contaminated. Since there is no water treatment plant to clean the water and make it potable, they resort to bottled water for their everyday use. The consequence is that plastic waste is everywhere, clogging sewers and swelling up landfills. Without an adequate water supply system, people generate more waste, which exacerbates their existing squalid conditions. The result is a city so filthy that its managers need us to be silent to maintain its “integrity”.

Reading The Histories of Dirt and observing Lagos in the present, I find it rather distressing how we never seem to outgrow our problems. As far back as the 19th century, travellers to Lagos have been bellyaching about its squalor. It is the 21st century, and barely anything has changed. What is even worse is that the rest of Nigeria is so socio-economically impoverished that Lagos, despite its poor conditions, is still considered the country’s crown jewel.

The man who was sworn in as president two years ago today made much political gain because of Lagos. They sold him as the builder of modern Lagos; our people—so used to dysfunctionality—thought he had any magic to replicate at the national level. Today, not only is Lagos still marinating in its own sewage, but the country itself is awakening to the truth of the lie they bought.

Fellow Nigerians, as we mark the second anniversary of our administration, I salute your resilience and undaunted spirit. Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges. Together, we have faced these headwinds with courage and determination.

The economic and general situation of the country I inherited required that we redirect the country’s affairs with a bold and new vision. I immediately implemented two necessary policies to stop our country from further drifting into the precipice. It was apparent that if the federal government and the other two tiers of government must remain viable and cater to the citizens’ welfare, we must do away with decades-long fuel subsidies and the corruption-ridden multiple foreign exchange windows. The two were no longer sustainable and have become a chokehold on our nation’s neck, strangling our nation’s future.

While our administration has implemented the reforms to restore and reinvigorate our national economy and strengthen our social fabric as a strong and united country, I must thank my fellow citizens for your unrelenting support and belief in the grand vision we share to uplift our nation and renew our collective hopes and aspirations.

We are halfway through the journey that began 24 months ago. Today, May 29, 2025, offers our administration the opportunity to share again how far we have gone and our progress in steering our country along the critical path of socio-economic development.

When we embarked on this journey, propelled by a burst of hope and abiding faith in Nigeria’s unity and progress, I made a pledge before God and fellow countrymen and women to confront Nigeria’s challenges head-on by rebuilding trust, fostering prosperity, and restoring our nation’s economic health. Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation.

Under our Renewed Hope Agenda, our administration pledged to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift our people out of poverty.

While implementing the reforms necessary to strengthen our economy and deliver shared prosperity, we have remained honest by acknowledging some of the difficulties experienced by our compatriots and families. We do not take your patience for granted. I must restate that the only alternative to the reforms our administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall.

Despite the bump in the cost of living, we have made undeniable progress.

Inflation has begun to ease, with rice prices and other staples declining. The oil and gas sector is recovering; rig counts are up by over 400% in 2025 compared to 2021, and over $8 billion in new investments have been committed. We have stabilised our economy and are now better positioned for growth and prepared to withstand global shocks.

In 2025, we remain on track with our fiscal targets. Gross proceeds per barrel from crude oil are broadly aligned with our forecasts as we intensify our efforts to ramp up production. Our fiscal deficit has narrowed sharply from 5.4% of GDP in 2023 to 3.0% in 2024. We achieved this through improved revenue generation and greater transparency in government finances. In the first quarter of this year, we recorded over N6 trillion in revenue.

We have discontinued Ways & Means financing, which has been a major contributor to high and sticky inflation. The NNPC, no longer burdened by unsustainable fuel subsidies, is now a net contributor to the Federation Account. We are also achieving fuel supply security through local refining.

Our debt position is improving. While foreign exchange revaluation pushed our debt-to-GDP ratio to around 53%, our debt service-to-revenue ratio dropped from nearly 100% in 2022 to under 40% by 2024. We paid off our IMF obligations and grew our net external reserves by almost 500% from $4 billion in 2023 to over $23 billion by the end of 2024.

Thanks to our reforms, state revenue increased by over N6 trillion in 2024, ensuring that subnational governments can reduce their debt burden, meet salaries and pension obligations on a timely basis, and invest more in critical infrastructure and human capital development.

One of our administration’s most impactful achievements is our bold tax reform agenda, which is already yielding results. By the end of 2024, our tax-to-GDP ratio rose from 10% to over 13.5%, a remarkable leap in just one year. This was not by accident. It results from deliberate improvement in our tax administration and policies designed to make our tax system fairer, more efficient, and more growth-oriented.

We are eliminating the burden of multiple taxation, making it easier for small businesses to grow and join the formal economy. The tax reforms will protect low-income households and support workers by expanding their disposable income. Essential goods and services such as food, education, and healthcare will now attract 0% VAT. Rent, public transportation, and renewable energy will be fully exempted from VAT to reduce household costs further.

We are ending the era of wasteful and opaque tax waivers. Instead, we have introduced targeted and transparent incentives supporting high-impact manufacturing, technology, and agriculture sectors. These reforms are not just about revenue but about stimulating inclusive economic growth.

There is a deliberate focus on our youth, who a friendlier tax environment for digital jobs and remote work will empower. Through export incentives, Nigerian businesses will be able to compete globally. Our National Single Window project streamlines international trade, reduces delays, and enhances Nigeria’s competitiveness.

To promote fairness and accountability, we are establishing a Tax Ombudsman, an independent institution that will protect vulnerable taxpayers and ensure the system works for everyone, especially small businesses.

Most importantly, we are laying the foundation for a more sustainable future by introducing a new national fiscal policy. This strategic framework will guide our approach to fair taxation, responsible borrowing, and disciplined spending.

These reforms are designed to reduce the cost of living, promote economic justice, and build a business-friendly economy that attracts investment and supports every Nigerian. Together, we are creating a system where prosperity is shared, and no one is left behind.

We have breathed new life into the Solid Minerals sector as part of our efforts to diversify the economy. Revenue has increased phenomenally, and investors are setting up processing plants as the sector dumps the old pit-to-port policy and embraces a new value-added policy.

We have also repositioned our health sector despite all odds.

Over 1,000 Primary Health Centres are being revitalised nationwide. An additional 5,500 PHCs are being upgraded under our Renewed Hope Health Agenda. We are establishing Six new cancer treatment centres. Three are ready. We offer free dialysis services in pilot tertiary hospitals and subsidise the service in others. Under the Presidential Maternal Health Initiative, over 4,000 women have undergone free cesarean sections. Lastly, we have expanded Health Insurance Coverage from 16 million to 20 million within two years.

As a result of our bold and deliberate policies, the economy is growing stronger again. Real GDP rose by 4.6% in Q4 2024, with full-year growth of 3.4%. This is one of the strongest in a decade.

Without a responsive and reliable national security infrastructure that can protect lives and properties, our economy will not perform optimally, and those who seek to harm us will impair and disrupt our way of life. Our administration is committed to the security and safety of our people. For our government, protecting our people and their peaceful way of life is the utmost priority.

Since I assumed our country’s leadership, our administration has improved collaboration among security agencies, increased intelligence-driven operations, and better ensured the welfare of our armed forces and security personnel. I use this opportunity to salute the courage and everyday sacrifice of our service men and women. We may not always witness the tremendous efforts they make to keep us safe, but we benefit every day from the results of their dedication. Even if we do not thank them often enough, they willingly face danger so we can go about our lives freely and without fear.

Our military, police, and intelligence agencies are committed to always responding to emerging security threats and new challenges because it is the patriotic duty they owe a grateful nation.

Amid the new security challenges, we can report some successes. In some areas of the northwest, hitherto under the control of bandits, our gallant armed forces have restored order, reducing and eliminating threats to lives and livelihoods. With the success achieved, farmers are back tilling the land to feed us. Highways, hitherto dangerous for travellers, have become safer. Our security agencies have succeeded many times in rescuing the abducted citizens from the hands of their tormentors. I promise you, we shall remain vigilant, as I told security chiefs during the last meeting to up their game and collaborate to end this plague of evil men. Every Nigerian deserves to live without fear.

Outside of Security, we have prioritised human capital development as a central pillar of our national development strategy.

To this end, we have significantly expanded access to quality education through infrastructure investments and the student loan scheme to support indigent students in tertiary institutions. Through the Renewed Hope Health initiative, our administration has begun equipping health facilities and deploying skilled personnel to unserved areas. We are also strengthening our response to public health threats and implementing targeted social investment schemes.

Our youth empowerment initiatives include access to funds, skill development, and creating employment opportunities. Through our MSME support, we empower the next generation and bridge inequality. In our mission to empower the next generation, we have taken bold steps to place young Nigerians at the heart of national development. Nowhere is this more evident than at the National Agency for Science and Engineering Infrastructure (NASENI), where the current management is making giant strides. NASENI has embraced a digital-first approach, introduced real-time dashboards, and implemented end-to-end e-procurement through its Unified ERP System—setting a new governance benchmark for public institutions.

Through bold, high-impact programmes like Innovate Naija, Irrigate Nigeria, the Asset Restoration Programme, and the Renewable Energy and Innovation Park in Gora, NASENI drives inclusive industrialisation at scale. From assembling electric vehicles and reviving idle assets to launching Africa’s most advanced Rapid Diagnostic Kit Factory and training female drone engineers through the NASCAV programme, these initiatives are creating jobs, restoring dignity to work, and opening up a future of possibilities for our youth. This is the movement we promised—a government of action powered by the energy and innovation of young Nigerians.

Agriculture and food security are top priorities of our Renewed Hope Agenda. We have launched aggressive initiatives to boost local food production, support farmers, and stabilise food prices. We have also invested in mechanised farming by procuring thousands of tractors, other farming tools, and fertilisers.

Under the Renewed Hope Agenda, the federal government has continued with major road construction and rehabilitation projects across all geopolitical zones, from the Abuja-Kaduna-Zaria-Kano Dual Carriageway, the 9th Mile-Oturkpo-Makurdi Road, the Lagos-Calabar Coastal Highway, Abuja-Lokoja-Benin Road, Enugu-Onitsha Expressway, Oyo-OgbomosoRoad, Sokoto-Badagry Road, Enugu-Port Harcourt Expressway, Second Niger Bridge Access Road to Bodo-Bonny Road among hundreds of ongoing road projects across the country.

We have launched initiatives to improve electricity generation by upgrading generation and transmission infrastructure and investing in off-grid solar energy to power our homes, business premises, industries, schools and hospitals.

In the spirit of democracy and national renewal, we are preparing to welcome the world to Nigeria soon for the Motherland Festival. This landmark gathering will spotlight our rich heritage, dynamic creative industries, and the vibrant energy of our people. It will showcase Nigeria’s beauty through tourism, culture, and innovation, inviting the world to rediscover our nation.

The Nigerian diaspora plays a vital role in our national transformation. Their expertise, investment, and global perspective are key to shaping the future we seek. In recognition, the government has introduced policies like the diaspora bond and the non-resident Bank Verification Number to make it easier for Nigerians abroad to invest, engage, and contribute meaningfully to the country’s progress.

The Motherland Festival will bring together voices from across the continent and the diaspora in a decisive moment of unity and purpose, affirming that Nigeria is not only a leader in Africa but a committed global partner ready to engage, inspire, and lead.

Once again, I acknowledge the sacrifices many Nigerians have made and continue to make as we reposition our country, not just for today but for generations yet unborn. Our journey is not over, but our direction is clear. So is our resolve to tackle emerging challenges. By the Grace of God, we are confident that the worst is behind us. The real impact of our governance objectives is beginning to take hold. The future is bright, and together, we will build a stronger, more inclusive Nigeria that we can all be proud of.

Thank you all, and May God continue to bless the Federal Republic of Nigeria.