Tanzania holds the top spot with a debt-to-GDP ratio of 41.8%, reflecting its prudent financial decisions.

Contrary to common belief, the International Monetary Fund (IMF) has ranked Nigeria’s debt-to-GDP ratio, a key indicator of a country’s financial strength, as the second lowest in Africa, underscoring its economic stability.

This ranking underscores the importance of evaluating a country’s financial strength through metrics like the debt-to-GDP ratio.

A lower ratio suggests economic stability, while a higher ratio raises alarms about debt sustainability.

Tanzania, a model of careful debt management, holds the top spot with a debt-to-GDP ratio of 41.8%, reflecting its prudent financial decisions.

Nigeria follows closely with a ratio of 41.3%, signifying its crucial role in Africa’s economy, even though its external debt stood at $41.59 billion or N31.98 trillion as of December 2023.

Nigeria’s relatively modest debt levels are due to several reasons, including its diverse economic sectors and efficient debt management practices.

According to the Nigerian Tribune, the Debt Management Office (DMO) reports that Nigeria’s total debt is approximately N97.34 trillion.

Through careful debt management, Nigeria has maintained economic stability and boosted investor confidence, resulting in a favourable debt position despite its significant role in Africa’s economy.

African nations with low debt levels, like Nigeria, are not only more attractive to investors but also stand a higher chance of receiving additional financial support from global and local creditors, thanks to their reduced economic risk.

Nigeria’s higher ranking than Cameroon, Chad, Comoros, Equatorial Guinea, Guinea, Ethiopia, Botswana, and the Democratic Republic of Congo highlights its strong debt standing.

Former Commander of the Force Intelligence Response Team, DCP Abba Kyari, has been granted two weeks’ bail by an Abuja Federal High Court.

Naija News understands that Kyari was granted bail to enable him to return home and complete the burial rites of his late mother.

The court subsequently set Friday, May 31 for determination of his bail application in trial over drug-related charges filed by the National Drug Law Enforcement Agency, NDLEA following his arrest over two years ago on February 14, 2022

Kyari is currently facing drug-related charges filed against him by the National Drug Law Enforcement Agency (NDLEA).

The Kano State House of Assembly has insisted that there is no going back on plans to amend the law Abdullahi Ganduje used to dethrone Sanusi Lamido as Emir when he was the Governor of Kano State.

This was made public on Wednesday by a high-ranking official of the Assembly, who expressed confidence that nothing can prevent the lawmakers from amending the law.

Recalls the Kano State House of Assembly has decided to revise the state emir’s deposition and appointment law.

The motion was put forward by Hussien Dala, the majority leader and representative of the Dala constituency, during the plenary session on Tuesday.

In 2020, former Governor Abdullahi Ganduje removed Alhaji Muhammadu Sanusi, the 14th Emir of Kano.

Giving an update on plans by the current crop of lawmakers in the state to revise the law, the high ranking official of the Assembly informed BBC Hausa that they have been ready a long time ago.

He added that the assembly would consider and pass the amendment on Thursday.

He said, “We were ready for this longtime ago and Only God can stop this amendment. We wanted all these emirs to go 20 days after this administration was inaugurated but here we are. So tomorrow(Thursday) there would be special session of the assembly to consider and pass the amendment.”

A few members of the assembly, including Abdul Labaran Madari, informed BBC Hausa that 12 All Progressives Congress (APC) members are currently against the proposed amendment.

Their opposition is based on the condition that none of the 5 Emirates will be disbanded, and that the Emir of Kano, Aminu Ado Bayero, should remain in office without being replaced by Muhammad Sanusi.

Although the New Nigeria Peoples Party (NNPP) lawmakers in the assembly have sufficient numbers to make the amendment, the opposition members will voice their dissent.

Madari mentioned that the governing party has successfully finalized its strategy for dismantling the Bichi emirate and reinstating the ousted Emir Sanusi.

He mentioned that the remaining Emirates would have jurisdiction over three local government areas each.

An Ikeja Special Offences Court on Wednesday reserved judgment until Sept. 10 in the case of an American, Marco Antonio-Ramirez, charged with $1.2 million fraud.

The News Agency of Nigeria reports that Justice Mojisola Dada will also, on Sept. 10, deliver judgment in another charge bordering on $368,698 fraud against the same Antonio-Ramirez.

The Economic and Financial Crimes Commission (EFCC) had arraigned Antonio-Ramirez on an amended 16-count charge bordering on $1.2 million fraud.

People Talk: On sale of new Naira notes at Nigerian parties0:00 / 1:00
EFCC, in one of the counts, alleged that the defendant dishonourably converted to his personal use, an aggregate sum of $545,000 belonging to one Mr Godson Echegile.

The anti-graft agency also alleged that the defendant, between July 12, 2012, and Nov. 7, 2012, in Lagos, dishonourably converted to his personal use, an aggregate sum of $314,800 belonging to one Alhaji Abubakar Umar.

The commission also submitted that the defendant, between Feb. 19, 2013, and April 18, 2013, in Lagos, dishonourably converted to his personal use, an aggregate sum of $230,000, also property of Umar.

In the separate charge, EFCC alleged that the defendant obtained $368,698 fraudulently.

The defendant is charged on nine counts in the amended separate charge.

In one of the counts, EFCC stated that the defendant, with intent to defraud, obtained $250,000 from one Mr Gabriel Edeoghon under false representation that the sum was his investment in his company.

EFCC also allegsd that the defendant, with intent to defraud, obtained $50,281 from one Mr Oludare Talabi under the false representation that the sum was to procure U.S. L1 Visa, a representation he knew to be untrue.

Antonio-Ramirez, however, pleaded not guilty to the charges, on arraignment.

Akpabio is Publisher, Adaramodu Editor- in - Chief as 10th Senate launches magazine
The trial suffered several adjournments occasioned by absence of defence counsel, Mr Lawal Pedro (SAN).

However, adoption of final written addresses by counsel to both parties has taken place.

Following the adoption, the judge adjourned the two cases until Sept. 10 for judgment.

Chadian Prime Minister Succes Masra said he had handed in his resignation, just over two weeks after his defeat to junta chief Mahamat Idriss Deby Itno in presidential elections.

“I’ve just submitted my resignation and that of the transition government, which became irrelevant with the end of the presidential election,” Masra said on his Facebook page in a message authenticated by his team to AFP on Wednesday.

The move, he added, was also in accordance with the constitution.

Deby, 40, was proclaimed transitional president in April 2021 by a junta of 15 generals after his father, iron-fisted president Idriss Deby Itno, had been shot dead by rebels after 30 years in power.

He won the May 6 presidential vote with 61 percent of the ballot, according to final results.

Masra, also aged 40 and once a fierce Deby opponent before becoming prime minister four months ago, won 18.5 percent of the vote but contested the results.

He claimed victory in the ballot, which his party called a “masquerade” and which international rights groups had said would be neither credible nor fair.

The immediate-past National Vice Chairman of the ruling All Progressives Congress APC, Salihu Moh. Lukman has written President Bola Tinubu, threatening a lawsuit against the leadership of the party for serial violations of its constitution.

In the letter dated May 21, 2024 and titled ‘APC and Subversion of Nigerian Democracy’, Lukman said he was compelled to write the letter since the party is operating almost blindly without recourse to provisions of the APC Constitution.

According to him, it was deeply concerning to note that the APC since inception in 2013 has operated without a Board of Trustees BoT.

He said, “Meetings of organs as specified by relevant provisions of the APC Constitution are not taking place. Decisions, which established organs of the party are expected to take, are being taken by individual leaders outside those organs.

“One of the critical organs, the Board of Trustees, which is renamed National Advisory Council has not been inaugurated since the formation of the APC in July 2013. With such reality the National Working Committee NWC of the party has appropriated the powers of all organs and in its name the National Chairman is taking discretionary decisions.

“With such reality, many of the decisions taken not only violate sections of the APC Constitution but also undermine Sections 221 — 229 of Part Il of the 1999 Nigerian Constitution as amended as well as the Electoral Act 2022.

“As things are, we have been regressing democratically as a nation. Due to inability to comply with statutory provisions regulating the conduct of political parties, we are embarrassingly running governments that don’t value principles of consultations and respecting valid agreements contracted through diligent political negotiations.

“Consequently, all the serial decisions taken without references to organs of the APC and complying with subsisting internal agreements have resulted in outright violation of relevant provisions of the 1999 Nigerian Constitution as amended, which imposes the requirement to ensure the establishment of an inclusive governments at all levels.

“As a committed member of APC and as someone who has worked hard and made so many sacrifices for the growth and development of the party, I find our current reality highly unacceptable. I have made several requests to meet with you for more than a year now since your election as President of the Federal Republic, which, perhaps understandably, you have been unable to grant.

Seventeen members of the Cross River State House of Assembly on Wednesday removed the Speaker of the House, Hon Alvert Ayambem over allegations of mismanagement, Misconduct, financial misappropriation and indifference to welfare of members.

Hon Ayambem’s removal was made public in an impeachment notice signed by 17 out of the 25 members of the State House of Assembly which they later later affirmed in a Press Briefing held at the metropolitan Hotel in Calabar.

Vanguard also learned that consultations, delivration are ongoing as the house was yet to elect another Speaker to succeed the embattled Ayambem at the time of his report.

The 17 members described Ayambem as a tyrant who according to them undermines their interest and has been allegedly involved in various forms of financial misappropriation.

The speaker was impeached via a motion under maters of urgent public importance inline with order 24 of the Cross River State Assembly rules.

His removal according to them was based on the grounds of gross financial misconduct, incompetence and wrong conduct of plenary proceedings, non compliance and total failure to convene leadership meetings.

The impeachment notice reads: “Having met the Constitutional requirements of two-third majority( 17 members)we the under-listed members of the Cross River State House of Assembly hereby pass a vote- of-no- confidence on Rt. Hon. Elvert Ayambem, Speaker of the House of Assembly and he is hereby removed.”

Hon. Ayambem is also accused of “misappropriation of the sum of N48,000,000.00 (Forty-Eight MillionNaira) meant to pay electricity bills for the House of Assembly complex and the House of Assembly Quarters, Misappropriation of 2% of all revenue collected by the Internal Revenue Service (|RS) monthly for oversight functions of the House of Assembly in line
with Section 18(a)(i) of the Cross River State Revenue Administration Law 2011 as amended to the tune of N404,683,855.1 0 (Four Hundred and Four Million, Six Hundred and Eighty-ThreeThousand, Eight Hundred and Fifty-Five Naira, Ten Kobo).”

Other allegations include; “Misappropriation of the sum of N19,437, 844.00 (Nineteen Million, Four Hundred and Thirty-Seven Thousand, Eight Hundred and forty-five Naira) from Local Government deduction and 11 months deductions which he allegedly failed to disclose to members.”

The motion for his impeachment was moved by Honorable Effiong EKarika, representing Calabar-South-1 and was Seconded by Honorable Charles Omang Omang representing Bekwarra state constituency in the Assembly.

Super Eagles coach Finidi George has emphasized his unwavering commitment to victory, regardless of tactical formations.

Finidi, who was appointed coach of the three-time African champions on April 19, was unveiled on Monday, May 13, by NFF President Ibrahim Gusau and Sports Minister Sen. John Owan Enoh at the Moshood Abiola National Stadium in Abuja.

The 53-year-old, who is currently on a media tour, made this known in an interview on Brilla FM on Tuesday.

His words: “My philosophy is to win. For me, formation is not that important, because if players interpret when to attack and when to defend and do it well, there won’t be problems.

“You can play 2-5-2 or 4-4-2, but if the players know they have to attack or defend, the team won’t have problems. That is what Manchester City, Arsenal, and every other team do, but the difference is when players recognise this moment.”

In another interview, Finidi, who was a guest on Arise TV on Wednesday, addressed issues surrounding his contract as Super Eagles head coach.

Finidi stated that regardless of the number of years on his contract, performances on the pitch will determine whether he stays longer as coach, adding that the NFF is not being disrespectful with the terms of his contract.

His words: “It’s not a one-year deal,” he clarified. “It is based on how well we perform. Even if you have given me a five-year deal and I don’t perform, definitely, I will leave before that five years… My focus is on adding value, winning games, and playing attractive football. If I achieve that, the contract length becomes secondary. But currently, it’s a two-year performance-based deal.

“Personally, I don’t think so, even Peseiro who came was given a target; Nigeria has gotten to a level that you can’t bring a coach and say, let him stay for four or five years hoping he will turn things around.”

The Super Eagles will host South Africa in their upcoming 2026 FIFA World Cup qualifying fixture at the Godswill Akpabio International Stadium in Uyo on Friday, June 7th.

The three-time African champions will travel to face Benin at the Felix Houphouet Boigny Stadium in Abidjan three days later.