As the governor of Sokoto deposed 15 traditional rulers, the Muslim Rights Concern (MURIC) has expressed concern over the sour relationship between the governor and the Sultan of Sokoto as well as the rumour of impending dethronement of the Sultan.

According to the human rights organization, Nigerian Muslims reject any thought of deposition of the Sultan.

MURIC’s position was articulated in a press statement issued on Monday, 24th June, 2024 by its Founder and Executive Director, Professor Ishaq Akintola.

He said, “The governor of Sokoto State, Ahmed Aliyu, deposed 15 traditional rulers on 23rd April 2024. That was two months ago.

“However, feelers in circulation indicate that the governor may descend on the Sultan of Sokoto any moment from now using any of the flimsy excuses used to dethrone the 15 traditional rulers whom he removed earlier.

“MURIC advises the governor to look before he leaps. The Sultan’s stool is not only traditional. It is also religious. In the same vein, his jurisdiction goes beyond Sokoto. It covers the whole of Nigeria. He is the spiritual head of all Nigerian Muslims.

“Therefore, any governor who tampers with the stool of the Sultan will have Nigerian Muslims to reckon with because the Sultan combines the office of the Sultan of Sokoto and that of the President General of the Nigerian Supreme Council for Islamic Affairs (NSCIA).

“Governor Ahmed Aliyu should not force Nigerian Muslims to take a drastically revolutionary measure. Having a traditional ruler as leader has been a condition Nigerian Muslims accepted a long time ago as a necessary weakness in the structure which they have to live with.

“A military governor, Colonel Yakubu Muazu, exposed this soft underbelly when he deposed Sultan Ibrahim Dasuki on 20th April, 1996. Nigerian Muslims will be forced to make a hard decision if Sokoto governors continue to diminish the authority of the Sultan.

“For the avoidance of any doubts, Sultan Muhammad Sa’d Abubakar is not only the Sultan of Sokoto but the Sultan of the Nigerian people. His performance and style of leadership have warmed him into the hearts of Nigerians.

“Nigerian Muslims North and South of the country may be constrained to pick Islamic scholars only as President General of the NSCIA and overall leader of Nigerian Muslims. It will be farewell to the leadership of traditional rulers over the NSCIA and an irreversible departure from Sokoto’s priviledged leadership position. But history will not be kind to Colonel Yakubu Muazu and Ahmed Aliyu for ruining the chances of Sokoto.

“That will make it impossible for any governor to harass or intimidate the leader of Nigerian Muslims. The power and influence of governors over traditional rulers have become absolute and totalitarian in recent time. Nigerian Muslims must be given space to breathe some air of freedom like all other associations.

“Once is happenstance, twice is a coincidence, the third time is enemy action. If the deposition of a Sultan and NSCIA leader happens a second time, Nigerian Muslims will not allow the embarrassment to happen a third time.

“MURIC reiterates its call on the Sokoto State House of Assembly to either repeal or review the state’s chieftaincy laws by adding the phrase ‘except the Sultan of Sokoto’ to Section 6, Cap 26 of the Laws of Northern Nigeria which empowers the state governor to depose the emirs including the Sultan.

“We urge Northern elites and Islamic scholars based in the North to intervene before it is too late. This is the time to lobby the Sokoto State House of Assembly and the governor himself. If the chieftaincy laws of Kano State can be repealed within 24 hours, nothing stops that of Sokoto State from being reviewed in favour of immunity for the office of the Sultan in a single day to save Nigerian Muslims from humongous embarrassment.

“It is arbitrary, irrational and condescending for a state governor to possess the power to dethrone the leader of all Muslims in Nigeria when even an ordinary chairman of a local government cannot sack the president of a campus students union. It is unacceptable. Enough is enough.

“In the same manner, it is tactless, reckless, myopic and senselessly audacious for any governor of Sokoto State who has the power to remove the Sultan of Sokoto and head of all Nigerian Muslims to actually use that power. Well, once bitten, twice shy. Nigerian Muslims travelled this road once, under military rule. We will not ply the same road again.”

As academic and non-academic workers in the university system have threatened to embark on another round of industrial action, students and parents have said they don’t want another closure of universities, calling on the workers and the government to find a way out of their face-off.

According to them, incessant closure of universities is one of the reasons the schools are not faring well in global rankings.

The students spoke under the aegis of the National Association of Nigerian Students, NANS, and the parents under the auspices of the National Parent Teacher Association of Nigeria, NAPTAN.

Speaking in a chat with Vanguard newspaper, the National President of NANS, Comrade Lucky Emonefe, noted that students were always bearing the brunt in cases of industrial actions by university workers.

“Government should listen to the lecturers and university workers generally. Some of the things the lecturers are complaining about are genuine.

“Look at the issue of the composition of Governing Councils for higher institutions in the country, many people who have no job being put into such positions were included. Such sensitive positions should be for technocrats in the education sector and academicians.

“Why would the government not honour an agreement it willingly entered into. Honour an agreement you signed.

“However, I would appeal to ASUU members to also give room for mediation and negotiation because in the long run, all parties would still come to the table to talk. Let the parties give room for negotiation and mediation. Students are always at the receiving end of such fight between the sides and nobody wants to waste his or her precious time,” he said.

Also speaking, the Deputy National President of NAPTAN, Chief Adeolu Ogunbanjo, said government should honour its promise to the workers.

“Government should pay them and fulfil their obligations. When they went on strike the other time, part of what was agreed to making the workers suspend their action was that nobody would be victimized on account of the strike.

“So, if you are not paying them their dues, are you not victimizing the workers? If ASUU goes on strike, SSANU and NASU do so, the university system would collapse. The other time parents had to keep their children at home for about a session, that is not good for the system.

“Look at the recent global ranking of universities, the best ranked university in the country was in about 1,000th position. All these incessant stikes are parts of the poor ranking of our universities. Government should just be alive to its responsibilities and avert another round of industrial disharmony, ” he noted.

The Academic Staff Union of Universities, ASUU, is already warming up for another strike, following the inability of the government to meet some of their demands.

The union, last week, started nationwide press briefings and sensitisation on issues it said could disrupt academic activities on campuses.

Top on the list of their demands is the renegotiation of the 2009 Agreement and its implementation.

The agreement is about better welfare packages, funding of the universities, better facilities among others.

Also, ASUU is demanding the payment of four months withheld salaries of members.

Eight months salaries were withheld following the 2022 strike by the union, but only four months have been paid by the Bola Tinubu administration.

On the other hand, non-teaching staff under the umbrella of Senior Staff Association of Nigerian Universities, SSANU, National Association of Academic Technologists,NAAT and the Non-Academic Staff Union of Educational and Allied Institutions, NASU, are also demanding the payment of their withheld salaries of between three and a half months and five and a half months.

They are also calling for the implementation of an earlier agreement entered into by their unions and the government.

The academic and non-academic unions have given various timelines as when their demands must be met or they would go on strike.

A chieftain of the Peoples Democratic Party, PDP, Dele Momodu, has said President Bola Tinubu will fail and sink Nigeria if his administration continues to engage in ongoing insensitivity and jamborees.

Naija News reports that the former presidential candidate made this known in a post shared on his X handle with the caption, “A Nation in Pain,” stating that only a miracle can avert the unpleasant situation that awaits the country.

Momodu said Tinubu must drastically reduce his administration’s insensitivity and ongoing jamborees so that the country does not sink.

The veteran journalist pointed out that those surrounding Tinubu at the Presidential Villa do not tell him how badly the country has deteriorated.

Momodu said that anybody still expecting anything better from the current administration is only deceiving themselves, adding that the Lagos State template used by Tinubu will not work in Abuja.

He said, “It should be obvious to most reasonable Nigerians that the government of President Bola Tinubu is clearly headed in the wrong direction and that only a miracle can avert the cataclysmic conundrum ahead of us.

“It is the reason that I wish to put it on record that one of Tinubu’s brothers is about to register his opinion and proffer solutions that are not difficult to activate and actualize if a leader ever meant well.

“Inside the villa, the President is being hero-worshipped. Those around him are painting a picture of ‘things are getting better, only opposition people are complaining and grumbling…’ Truth is, nothing is working.

“Those who wish to remain in the good books of Tinubu can continue to delude him and themselves.

“It is not always because of desperate needs, but due to the despicable greed of man. They were mentored by him and largely emboldened by the sheer audacity of the wealth that paved his way to maximum power.

“Let those who still care to plead with these people to have mercy on Nigeria. No matter how long Tinubu spends, he will fail spectacularly and sink Nigeria, unless he can drastically reduce the insensitivity and the ongoing jamborees in his government… Sadly, he doesn’t seem inclined that way….”

Former Council Chairmen of 21 out of the 23 Local Governments Area (LGA) in Rivers State, on Monday, defied police order and staged a protest at their various council areas.

The pro-Wike former LGA bosses protested in their local councils despite an advisory against protests issued by the Rivers State Police Command.

In Buguma, council headquarters of the Asari-Toru LGA, former Chairman Onengiyeofori George, alongside his supporters, marched through the streets of the town as they gyrate to songs in solidarity with the Minister of the Federal Capital Territory (FCT), Nyesom Wike.

They waved placards with inscriptions asking the police to continue occupying the council headquarters.

Some of the inscriptions read, “Sim Fubara Can’t Continue to Act As He likes” and “There’s No Vacancy in Asari-Toru Council”.

Also, in Abonnema, the Akuku-Toru LGA council headquarters, some persons staged a protest, backing the continued closure of council premises by the police.

The police took over the council secretariats of the 23 LGAs in the oil-rich South-South last Tuesday following the crisis that erupted over the three-year tenure expiration of the former LGA chairmen.

Three deaths have been recorded in the wake of the pandemonium.

The state Governor, Siminalayi Fubara, last week sworn in 23 caretaker chairmen but the police have continued to barricade the council premises in all the LGAs preventing both parties from gaining access to avert possibilities of break down of law and order.

The Ogun state government has cautioned residents as it officially reported 25 cases of Cholera across seven local government areas in the state.

One person, according to the government, died recently in the Ijebu North local government in the Ogun East Senatorial district.

The state commissioner for health, Dr. Tomi Coker, disclosed this information in Abeokuta, the state capital, during a press conference at the Olusegun Osoba press centre.

She mentioned that comprehensive surveillance and emergency medical care have been initiated in all 20 local government areas of the state.

The areas most affected by the outbreak were identified as Abeokuta South, Abeokuta North, Obafemi/Owode, Ijebu North, Ado, and Odo/OTA local government areas.

While ensuring the public of the state government’s and its partners’ readiness, she urged residents to uphold good personal and public hygiene practices to curb the spread of the disease.

“The Ogun State Government is cognisant of these threats hence we are at all times prepared for outbreaks and other Diseases of public health importance.

Our robust preparedness and our resolve to protect the lives and health of all residents have helped minimise the impact of the Cholera Outbreak in the state in comparison to many other states in Nigeria.

“At the inception, we received the alert on June 12th, 2024, about the first 2 cases. Both cases tested positive with a Cholera rapid diagnostic kit and were managed at the State Hospital, Ota.

“The 2 cases had travel history to Lagos state 24hrs before presentation, as of today, 24th, June 2024, the Ogun state has recorded 25 suspected cases of Cholera in 7 LGAs, namely, Adoodo/Ota, Remo North, Odeda, Sagamu, Ijebu North, Ewekoro, and Obafemi Owode, with 9 confirmed case and unfortunately, 1 death.

“Consequent upon these findings, it is imperative to declare an ongoing Cholera Outbreak in Ogun State.

“Before this outbreak, as part of the state preparedness, a robust surveillance system was in place in all 20 local government authorities, which ensured prompt detection of cases.

“The initial 8 cases originated from Lagos state, the reported epicentre of the Cholera outbreak and a state that shares a border with 4 of our local governments. The 8 cases had travel history to Lagos and 6 of them reported taking tiger nut drink while in Lagos. Furthermore, we also promptly diagnosed cholera in 5 of the contacts of the patients with a travel history to Lagos State,” Coker noted in the press release on Monday.

In response to the situation, she mentioned that the state’s Epidemiology team is on heightened alert and that every Local Government Area (LGA) Disease Surveillance and Notification Officer has also ramped up their monitoring efforts throughout all 20 LGAs.

The statement added: “Our private health facilities and citizens have been sensitized to heighten their index of suspicion and report any suspected case immediately to the LGA DSNO, and the State response Team by calling the following phone numbers 08038642812, 07034214893, and 08084250881.

“All our 20 LGAs have trained rapid-response teams ready to respond to your call at short notice in collaboration with Ogun State Emergency and Ambulance Service.

“Also, cholera test kits and other consumables needed for treatment have been distributed to all LGAs and designated treatment centres to ensure prompt diagnosis and treatment. The treatment of Cholera is free across all government facilities in Ogun State.

“Ogun State Ministry of Health is coordinating this outbreak response in collaboration with stakeholders from the Ministry of Environment, Information, and Education, WES at the LGA (water, environment, and sanitation), RUWATSAN (Rural water and sanitation), Water cooperation, Private hospital owners, Emergency services (OGSAES) and partners.

“The Emergency Operations Centre was activated earlier and is now in the response mode, tracking evolving situations and acting accordingly. Each ministry’s Departments and agencies involved in the response are carrying out its statutory responsibilities to curtail and control the outbreak. The Ministry of Environment and LGA Waste and Environmental Sanitation department is carrying out activities to curb open defecation and improve environmental hygiene.”

According to Coker, Cholera sensitisation materials are being shared via all electronic platforms, including social media, Radio, and Television. The Ministry of Information and the risk communication pillar of the EOC are working hard to engage the public on prevention practices, good hygiene, and sanitation.

“Medications and essential consumables have been prepositioned at LGAs and other strategic health facilities to provide hitch-free, quality treatment that is free in all government health facilities.

“Some of its LGAs have been identified as high-risk LGAs and hotspots in Ogun state, these are Abeokuta South, Abeokuta North, Ijebu North, Obafemi Owode, Ifo, and Adoodo Ota.

“As a way of warning, the Risk factors for cholera include eating contaminated food and drink, unhygienic sanitary conditions, and poor personal hygiene,” She added.

Naija News reports that symptoms of Cholera include diarrhoea, which may or may not be accompanied by vomiting.

Cholera can lead to intense, watery diarrhoea that can be fatal within hours without proper treatment. Symptoms can appear between 12 hours and 5 days after exposure.

To prevent and control Cholera, a comprehensive strategy is necessary, involving monitoring, access to safe water, sanitation, hygiene practices, community engagement, medical care, and the administration of oral cholera vaccines.

However, she emphasized the importance of maintaining high standards of personal and environmental cleanliness among the community members.

“Our Expectation from the public is Proper personal hygiene ( particularly Hand Hygiene), Washing food/fruits/vegetables properly before eating, Drink only clean water (Boil if the source is not trusted), Discourage Open defaecation, cook food thoroughly, go to the nearest health facility if you pass watery stool more than twice within 8 hours and report any suspected case in your locality. Please call the following phone numbers 08038642812, 07034214893, and 08084250881,” she added.

Naija News reports that the Chairman of the Nigerian Medical Association in Ogun State, Kunle Ashimi, highlighted the extensive reach of cholera in a press release issued on Thursday, noting its presence in 30 states nationwide, including Ogun.

Meanwhile, Kemi Ogunyemi, the Special Adviser to the Lagos State Governor on Health, reported that the death toll from the cholera outbreak in the state has climbed to 24, with 350 suspected cases.

Former Catholic Archbishop of Abuja, Cardinal John Onaiyekan, has declared that clergymen must continue to speak the truth to those in power, adding that silence means compliance.

According to him, it is wrong to keep quiet in the face of injustice, even if it attracts criticisms from politicians and those in government, noting that politics is for everyone and not just politicians.

The clergyman made this submission over the weekend while speaking at the inauguration of the Catholic Social Teaching, CST, programme at the Catholic Secretariat of Nigeria, CSN, in Abuja.

He stressed that clerics must do the right thing at all times because it is part of their responsibilities.

“As Catholic Bishops, we are often interviewed and make powerful political statements. Nobody can stop us from doing that because it is part of our job. We have a responsibility to teach the right things, even if it means facing criticism from politicians.

“We cannot afford to remain silent in the face of injustice. Silence is complicity, and we must speak out against injustice wherever we see it.

“Whenever we speak nicely, politicians hail us, but when we criticize them and warn them that they are not doing well, they get angry with us, accusing us of dabbling in politics. But politics is not for politicians alone; it’s for everyone.

“We teach the right things, but it’s up to those concerned to take the teaching and work on it. We don’t have the facility to force politicians to do the right thing; we only have the word of mouth, our message.

“Even Jesus taught for three years, and it was the same people he taught who rallied around and crucified Him on the cross. They heard His message, but they didn’t take it. It’s the same today: those who listen to good wisdom will do well, and the people will profit from them,” the Emeritus Archbishop said

Former Senator representing Kaduna Central Senatorial District, Shehu Sani, has alleged that the recent visit by certain prominent Northern politicians to former President Muhammadu Buhari was an attempt to undermine President Bola Tinubu in 2027.

Naija News reports that the Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, on Saturday, visited former President Muhammadu Buhari in his hometown, Daura, Katsina State.

It was learnt that the two held a closed-door meeting in the company of some associates, including the immediate past governor of Sokoto State, Aminu Waziri Tambuwal, now a senator representing Sokoto South.

Similarly, former Governor of Kaduna State, Nasir El-Rufai, paid a visit to ex-President Muhammadu Buhari in Daura, Katsina State

In response to the recent visitation, Sani described the move as an effort to regroup Northern political forces for the next general election, predicting that it would ultimately fail.

Sani criticized the attempt to revive Buhari’s political influence and mobilize support, cautioning against stirring Arewa sentiment without regard for the potential chaos it could cause.

On his verified Facebook page, Sani remarked that Buhari, who led Nigeria for eight years, left the North in a worse state than he found it, and that it is too soon for people to forget this reality.

He wrote, “The recent visits by some prominent Northern politicians to Daura appear to be the usual Eid homage, but looking deeper and beyond the facade, it’s surreptitiously a new attempt to build a strong northern alliance using ex-President Buhari as a rallying point to challenge and evict President Tinubu’s government in 2027.

“It’s a regrouping of Northern political forces for the next general election. A project that will eventually kiss the dust.

“They want to resurrect Buhari’s political charm, fanaticism, and mobilize the gullible to another hollow and bewildering end. They want to stock up and light up the Arewa sentiment without considering the inferno it would eventually generate.

“By the time he left power, poverty and insecurity were at their peak more than at any time in Nigeria’s history.

“They had power and wasted it; what do they want to do with it again?”

Sani emphasized that a Southerner has been in power for just one year, and it is too early for Northern elites to start plotting.

He noted that the South did not undertake such actions against Buhari during his tenure. Sani warned that these efforts could destabilize Nigeria’s fragile unity and damage the democratic process.

He condemned the Northern politicians’ obsession with power, stating that opposition to Tinubu’s policies and administration is a democratic right, but inciting Northern sentiments for political gain is a perilous venture.

“A Southerner has been in power for just one year. It’s too early for the desperate and power-hungry northern elite to start plotting. The South never did that to Buhari. Their intended action has the capacity to ruin the democratic process and wreck the fragile unity of the country when the South is awakened to this reality.

“Their obsession with power is condemnable. Opposition to Tinubu from the point of policies, promises, and programs of his administration is a democratic right of any Nigerian. People have the right to speak and criticize the government.

“But attempts to whip up Northern sentiments to achieve their political ends is a dangerous political experiment and expedition at this material time. No serious southerner challenged Buhari for eight years; these power-drunk Northern politicians are dragging the region into a new political journey through a landmine.

“Buhari’s reign ensured nepotistic placement, installation, and dominance of Northerners at strategic positions of authority and power for eight years. Results had shown that they only enriched themselves, pillaged the economy of the country, and pauperized our country.

“The Daura homage of the disgruntled and the obsessed will fail. Our people in the North should reject these faces and their plots.

“They have nothing to offer. From the abandoned Baro Port, Ajaokuta, Lake Chad Basin refilling, and Mambilla hydropower, they failed. They came to power when the North was in the hands of terrorists and left it in the joint hands of terrorists and bandits. The Northern Talakawa should reject their antics,” he said.

The Lagos State Government has issued a 14 day removal notice to owners of buildings and structures at Sangotedo area of Lekki, Okota, and Isolo which were built on drainage channels.

The Commissioner for Environment and Water Resources, Tokunbo Wahab announced the development after an inspection tour to various contravention sites and on-going drainage enforcement projects in Ago Palace Way, Isolo, Sangotedo, Lekki and Ikoyi areas of the state.

He said that the government was committed to restoring sanity in the state.

According to him, “The era of environmental indiscipline and nuisance are over in Lagos. We will not shy away from enforcing all relevant laws irrespective of whose ox is gored.

“Lagos despite its peculiarities as a coastal state with low-lying terrains and a high population density among others has remained afloat because of various measures put in place by the government.”

Wahab, who said the ministry has strengthened its Drainage Enforcement activities said, “I tell people climate change is real and there is a cholera outbreak, We must know that all these things are Interwoven. We must all be responsible and responsive as a people, people cannot continue to brazenly abuse the environment and expect that there will be no consequences.

“At Sangotedo by Lagos Business School, a 48 hours contravention notice have been served to owners of buildings lying within the channels and 14 days abatement and when that elapses the law will take its course.

“We will commence full enforcement after the expiration of all notices with an option of voluntary compliance.”

President Bola Tinubu has directed that all civil servants drawing salaries from the government after relocating abroad should be made to refund the money.

The President also directed that the supervisors and department heads of the culprits must also be punished for aiding and abetting the fraud under their watch.

Tinubu’ gave the directive on Saturday at the award night organised by the Office of the Head of the Civil Service of the Federation to commemorate the 2024 Civil Service Week.

The event was also to honour some outstanding civil servants in core ministries.

Represented by the Secretary to the Government of the Federation, George Akume, the President expressed dismay over the attitude of the ghost workers.

“During my recent visit to South Africa, I kept abreast of the week’s activities.

“I was particularly struck by the revelations the Head of the Civil Service shared regarding employees who had relocated abroad while drawing salaries without formally resigning.

“It is heartening to hear that measures have been taken to address this issue, but we must ensure those responsible are held accountable and restitution is made.

“The culprits must be made to refund the money they have fraudulently collected.

“Their supervisors and department heads must also be punished for aiding and abetting the fraud under their watch,” Tinubu said.

He reiterated that the government would take appropriate measures to ensure they were punished and the money refunded to the government treasury.

The President acknowledged the challenges in the civil service sector and reiterated his commitment to address them for optimal performance.

“Our administration acknowledges the challenges the civil service is facing.

“I want to assure you that we are committed to ensuring the welfare and development of all civil servants to deliver optimal performance for the growth of our nation.

“Over the past year, I have provided all the necessary support to the Head of the Civil Service of the Federation to ensure the continued stability of the civil service.

“I also supported the office in implementing far-reaching policies and reforms capable of improving efficiency and service delivery, ” the President said.

The PUNCH reports other activities to mark the night were the presentation of the top three prizes to the winners and an additional N500,000 cash prizes to 40 workers.

Making the presentation, Dr Folasade Yemi-Esan, the HOCSF announced the top three prizes won by three lucky officers at the event.

“The Star Prize is a Brand New 2023 JAC JS4 Luxury Model SUV; the second is a two-bedroom semi-detached bungalow; and

the third top prize is a serviced plot of land measuring 400 sqm.

“I am also pleased to announce that the Nigeria Customs Service has graciously committed to donating six Toyota Camry cars in support of the 2024 Civil Service Week.

“The office has started receiving the vehicles, and these will be presented as prizes to the next set of runner-up best-performing officers,” she said.

The Federal Government has spent a total of $15.55bn on debt servicing between 2019 and 2024, according to the latest data from the Central Bank of Nigeria.

In 2019, Nigeria paid $588.33m in debt service between January and May, while the payment for 2020 was $5.40bn.

The debt service payments continued to rise in subsequent years, with $2.02bn paid in 2021, $2.34bn in 2022, and $3.43bn in 2023.

Between January and May 2024, the country has paid $2.18bn in debt service, according to the CBN’s data.

This is 270.9 per cent increase compared to the first five months of 2019 which was $588.33m.

The $2.18bn, in May 2024 is nearing half of the $4.8bn projected by Fitch Ratings for the year.

This increase is despite the government’s assertions that it is shifting its focus towards domestic borrowing.

Fitch Ratings also predicts that the country’s external debt servicing will escalate by $400m to $5.2bn next year, raising concerns about Nigeria’s debt sustainability.

According to the CBN International Payments Data, the FG spent the highest on debt financing within the last five years in 2020 which amounted to $5.40bn.

Nigeria’s external debt service payments saw a significant increase of $1.1bn, reaching $3.5bn in 2023, according to FBNQuest Research.

This breakdown comprises $1.9bn in market debt payments and $1.6bn in non-market debt payments. Furthermore, the Federal Government plans to take on additional external debt, including N1.8tn in commercial borrowing and N1.1tn in concessional loans, as outlined in the 2024 budget.

FBNQuest Research expects a further increase in external debt service payments, mirroring Fitch Ratings’ predictions, due to the government’s plans to access commercial debt markets and anticipated growth in borrowings from concessional sources.

Recently, the government received $2.25bn from the World Bank to support President Bola Tinubu’s economic reforms.

The two-fold packages include $1.5bn for the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing Program and $750m for the Nigeria Accelerating Resource Mobilization Reforms Program-for-Results.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said, “We have undertaken bold and necessary reforms to restore macroeconomic stability and put Nigeria on a path to sustainable and inclusive economic growth. These reforms will create quality jobs and economic opportunities for all Nigerians.”

This loan, described as “virtually a grant” by Edun, is expected to support the government’s economic reforms and development initiatives.

The report noted that the principal programme development objective is to raise non-oil revenues and safeguard oil and gas revenues.