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Nigeria incurred N24.33trillion debt in just three months — Debt Management Office

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The Debt Management Office (DMO) has said that Nigeria’s total public debt has surged to N121.67trillion, marking an increase of N24.33trillion or 24.99 percent over a span of three months.

The DMO’s new figure of Nigeria’s public debt contrasts with a total debt of N97.34 trillion recorded as of December 2023.

According to the revelation made by the Office in a statement issued on Thursday in Abuja, the current public debt figure encompasses both domestic and external debts of the Nigerian government, the 36 state governments, and the Federal Capital Territory (FCT).

The DMO report states, “Nigeria’s total public debt stood at N121.67 trillion (USD91.46 billion) as of March 31, 2024. The comparative figure for December 31, 2023, was N97.34 trillion (USD108.23 billion). Total Domestic Debt amounted to N65.65 trillion (USD46.29 billion) while Total External Debt stood at N56.02 trillion (USD42.12 billion).”

Also, on Thursday, it was reported that the government had secured loans totaling $4.95billion from the World Bank over the past 12 months, amid concerns about rising costs associated with servicing external debt.
Meanwhile, the government anticipates the approval of fresh loans amounting to $4.4 billion from both the World Bank and the African Development Bank within the coming year.

Nah una way be citizens of dis kontry go pay for the money ????????????????

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Governor UZODINMA has offered yet again free transportation buses from Lagos to *Owerri, Okigwe* and *Orlu* . The buses are free for Imolites from Lagos to Imo State on *24th December* and back to Lagos on *4th January* .

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Press release

We are not fraudsters, evacuation of Imo residents in Lagos will go on – ISTDAL

Our attention had been drawn to a report where the Office of the Chief Press Secretary to the Imo State Government impersonated by unknown persons to issue a statement about a well intentioned gesture of the Governor to evacuate interested Imo indigenes resident in Lagos who wish to be home for the Christmas and New year celebrations.

In his magnanimity, Governor Uzodimma gave approval for the exercise to be carried out on December 24, 2024 for those returning from Lagos and those who would be returning to Lagos on January 5, 2025.

Unfortunately, unknown persons mischievously issued a Statement where
the name and designation of the Chief Press Secretary were impersonated as the author.

Based on that the Chief Press Secretary raised a strong statement where he called those behind the criminal and mischievous statement fraudsters, believing we were the ones behind it.

While we regret the criminal intentions of those behind the impersonation of the Office of the Governor’s spokesperson, we make bold to dissociate members of our association who are part of the evaluation exercise as fraudsters.

If anything, members of our association work in tandem with the Governor and his government for the wellbeing of our people for which this exercise is one of them.

Like the Governor, we mean well for our people resident in Lagos or any other part of the country and will not be part of moves to undermine the good intentions of His Excellency.

We put up this statement after conferring with the Chief Press Secretary and availing him with the facts regarding the exercise, and do hope that those who have already indicated interest in travelling through the channels we had earlier announced, and intending ones, should feel free to avail themselves of the opportunity.

Please, refer to our earlier announcement where the Office of the Chief Press Secretary to the Governor was not impersonated.

*Breaking news!! Breaking news!!!.*
*To all Imolites resident in Lagos.*

The Imo State Governor *Distinguished Sen. Hope Uzodimna (OON)* in line with 3Rs of His Excellency’s administration and in alleviating the stress, difficulties and hardship Imolites go through during Christmas journey, Governor UZODINMA has offered yet again free transportation buses from Lagos to *Owerri, Okigwe* and *Orlu* .

The buses are free for Imolites from Lagos to Imo State on *24th December* and back to Lagos on *4th January* .

Interested persons should please call *(ISTDAL)* *08033255565, 08092362966* or *07089303866* for seats reservation.

Please the buses are free and is on first come accreditation bases, once the seats are fully booked the registration closes, ( *_PLS DO NOT PAY ANYBODY ONE KOBO_)*

Please the buses are *NOT LUXURIES BUSES* , so only passengers with a small sizable bags will be allowed. (no big boxes or load is allowed)

The buses will leave on Tuesday 24th December at exactly *7.15am* to Owerri, Okigwe and Orlu.

The departure point will be made available after your registration, *(if you are not captured on accreditation, pls don’t bother coming as only accreditated passengers are allowed)* and please indicate your direction.

Call *Chima Davis* on the above numbers as soon as possible for accreditation ahead of time, you *must prove* you are from Imo State.

Note: the bus will not stop or drop any passenger until it passes Ihiala unto Imo State.

Thanks and best regards

*_C@davis 21.12.24_*

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FG Sets Aside ₦27bn For Obasanjo, Gowon, Buhari, Others In 2025

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The Federal Government has allocated ₦27 billion for the entitlements of former presidents, vice presidents, heads of state, chiefs of staff, retired heads of service, and professors in the 2025 fiscal year.

The beneficiaries of this allocation include former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, alongside ex-vice-presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo. Other notable individuals expected to benefit from this allocation are ex-military Heads of State, Gen. Yakubu Gowon (retd.) and Gen. Abdulsalami Abubakar (retd.), as well as former military President, Ibrahim Babangida, and retired Chief of General Staff, Commodore Ebitu Ukiwe.

It can be recalled that President Bola Tinubu on Wednesday presented the 2025 budget, titled ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity,’ to a joint session of the National Assembly. The ₦49.70 trillion spending plan prioritizes defence, infrastructure, and human capital development, with a projected ₦13.39 trillion deficit to be financed through borrowing.

The Federal Government has allocated ₦1.4 trillion for pensions, gratuities, and retirees’ benefits. This allocation includes ₦2.3 billion for former presidents, heads of state, and vice presidents. Retired heads of service and permanent secretaries will receive ₦10.5 billion, while retired professors in universities will get ₦13.5 billion. Additionally, ₦1 billion has been allocated for retired heads of government agencies and parastatals. The total allocation for these groups amounts to ₦27 billion.

Furthermore, the budget allocates ₦46 billion for civilian pensions under the Office of the Head of Civil Service, while ₦383.9 billion is earmarked for military pensions and gratuities. An additional ₦66.8 billion is budgeted for expected retirees, with ₦434 million allocated for administrative charges, ₦596 million for pension running costs, and ₦870 million for medical retirees.

The Federal Government has also set aside funds for various social investment programs, including the student loan scheme, National Poverty Reduction with Growth Strategy programs, National Home Grown School Feeding Programme, and the Consumer Credit Fund initiatives. A total of ₦500 billion has been allocated for these programs, with ₦50 billion specifically earmarked for the student loan scheme.

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Tinubu Is Not Our Problem In North; We Ruled Nigeria For 40 Years But Nothing To Show – Ex-Speaker Yakubu Dogara

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Tinubu Is Not Our Problem In North; We Ruled Nigeria For 40 Years But Nothing To Show – Ex-Speaker Yakubu Dogara

North Remains The Same, Impoverished Despite Ruling Nigeria For Over 40-Years, Says Dogara.

“We are all northerners, and it should be made clear that President Tinubu or the South is not our problem. They have not come to cheat the North. That is out of the question.

“Some are claiming that Yoruba people are getting appointments, but let’s reflect. We ruled this country for over 40-years when northerners were in power. What did we achieve? The North remains the same, impoverished by our own leaders.

“We have had so much, but what did our governors do with the resources? They squandered them instead of investing in meaningful development.” -Yakubu Dogara, At A Townhall Meeting In Kaduna On Tax Reforms

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