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Speaker Abbas, ADC, PDP disagree over Tinubu’s ‘responsible borrowing’
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Speaker of the House of Representatives, Abbas Tajudeen, has advocated stronger oversight, in line with President Bola Tinubu’s Renewed Hope Agenda, for sustainable growth, saying the President was working assiduously to address Nigeria’s public debt through a non-oil revenue drive.
The speaker, who noted that public debt, if well utilised, could engender growth and development in any country, said Nigeria could leverage responsible borrowing for sustainable development as demonstrated by the Tinubu administration.
But opposition Peoples Democratic Party, PDP, and African Democratic Congress, ADC, sharply disagreed that the President was managing the country’s public debt in the right direction.
However, Speaker Abbas noted: “Indeed, public debt, when managed prudently, can be a tool for growth and prosperity. Yet, when left unchecked, it becomes a burden that erodes economic stability and threatens the welfare of future generations.’’
He stated this while delivering his keynote address at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees, WAAPAC, organised in collaboration with international development partners, in Abuja yesterday.
The speaker, who was represented by Leader of the House, Prof Julius Ihonvbere, emphasised the “need for stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”
He said: “By 2022, the continent’s total public debt had reached US$1.8 trillion, with external debt alone expected to surpass $1 trillion by 2023. Several countries are now in dangerous debt-to-GDP territory: Sudan at 344 per cent, Angola at 136.8 per cent, Ghana at 84 per cent, Kenya at nearly 70 per cent, and South Africa above 77 per cent.
“In many cases, governments are spending more on servicing debt than on healthcare and other essential services, shrinking the fiscal space available for development.
‘’This continental picture makes clear that Africa faces not just a budgetary concern, but a structural crisis that demands urgent parliamentary attention and coordinated reform. The countries of the West African subregion carry the same burden.
“When we examine the sources of Africa’s external financing, it becomes clear that the weight of debt on our continent is shaped by whom we borrow from and on what terms. Today, Western private lenders hold about 35 per cent of Africa’s government debt through banks, asset managers and oil traders.
“Multilateral institutions, such as the World Bank and the IMF, account for another 39 per cent, while bilateral loans from other governments comprise 13 per cent. Chinese creditors, despite much of the public debate, hold only 12 per cent.
“To place this in sharper focus, in 2019, bondholders alone represented 27 per cent of Africa’s external debt, making them the single largest creditor group, ahead of China at 13 per cent.”
Speaker Abbas stated that if Africa was to grow stronger, the countries must not only negotiate fairer terms of borrowing but also rethink their dependence on external finance.
He stated that the conference could not have come at a more opportune time, “as our nations face mounting fiscal pressures that demand stronger legislative oversight of public debt and borrowing.”
“In Nigeria, recent available data indicate that our debt trajectory has reached a critical point, showing that as of the first quarter of 2025, the total public debt stood at N149.39 trillion, equivalent to about US$97 billion, with domestic borrowing making up 53 per cent and external borrowing accounting for 47 per cent.
‘’This represents a sharp rise from N121.7 trillion the previous year, underscoring how quickly the burden has grown.
“Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 per cent, well above the statutory ceiling of 40 per cent set by our own laws. This breach of our debt limit signals the strain on fiscal sustainability.
‘’It highlights the urgent need for stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”
ADC, PDP react
Reacting yesterday, African Democratic Congress, ADC, has blamed the ruling All Progressives Congress, APC, for plunging Nigeria into a N149.39 trillion debt crisis, warning that the burden will deepen hardship for citizens.
The party’s Deputy National Publicity Secretary, Jackie Wayas,, said the debt, which stood at US$97 billion in the first quarter of 2025, reflected reckless borrowing and wasteful spending by the APC-led government. She noted that with domestic borrowing at 53 per cent and external debt at 47 per cent, the administration had ‘mortgaged’ the future of Nigerians.
“ADC has consistently warned Nigerians about the ruinous path of the APC’s unbridled borrowing and wasteful spending.
“We cautioned that no nation can survive with such recklessness, and we stressed that these loans, taken without strategic investment or accountability, would only saddle generations of Nigerians with unbearable hardship. Today, those warnings are manifesting before our very eyes,” Wayas said.
The party warned that ordinary Nigerians would bear the cost of the rising debt through higher taxes, inflation, unemployment, and deteriorating public services.
“N149.39 trillion in just the first quarter of 2025. Who will repay these loans? The answer is painfully clear: it is the ordinary Nigerian people who will carry this crushing burden through higher taxes, inflation, unemployment, and diminished public services,’’ Wayas said.
On its part, Peoples Democratic Party, PDP, said Nigeria must build strong institutions, instead of relying on ‘strong men’, stressing that independence of the legislature was critical to fiscal responsibility.
PDP’s Deputy National Youth Leader, Timothy Osadolor, who spoke for the party, said: “When next we elect officers of the National Assembly, we must insist that they choose their own leaders, rather than being hand-picked from the Villa. That way, they will have the courage to do what is right.’’
He further called for regulatory and procurement agencies to live up to their responsibilities, noting that Nigeria had enough institutions on paper but lacked effective implementation.
“We have more than enough regulatory agencies. It’s just that none of them is alive to its responsibilities. What we need are men of character with fiscal discipline and the moral fibre to say yes when necessary and no when necessary,” he added.
Osadolor alluded to the strict manner former Senate President, Bukola Saraki, managed the National Assembly.
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The Oyo State Police Command has announced an operational success recorded following an intelligence-led operation.....TAP TO CONTINUE READING
Acting on credible intelligence, operatives of the Command intercepted a truck conveying materials suspected to be explosive devices during a stop-and-search operation in Saki, Oyo State. The truck and the suspected materials were promptly secured and are currently in police custody.
Upon receiving a briefing on the development, the Commissioner of Police, Oyo State Command, CP Femi Haruna, immediately ordered a comprehensive investigation into the matter.
Consequently, specialised personnel of the Explosive Ordnance Disposal (EOD) Unit and the Chemical, Biological, Radiological and Nuclear (CBRN) Unit were deployed to safely secure the items for safekeeping and forensic examination. Detailed forensic analysis has since commenced, alongside a thorough and robust investigation to determine the exact nature of the items and their intended use.
The truck driver has been taken into custody and is cooperating fully with investigators as efforts continue to unravel all the circumstances surrounding the incident.
The Commissioner of Police commended the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, for his unwavering support, strategic leadership, and continued provision of operational guidance that enhance proactive, intelligence-driven policing across the country.
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Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
One person has died and another sustained injuries following an assault by suspected armed bandits in Apa Local Government Area of Benue State.....TAP TO CONTINUE READING
According to sources, the attack took place on January 24 around 4:00 p.m. along the Amoke–Odugbo road in Ukpogo Village, Edikwu Ward.
The victims, identified as Mr Joseph Okoh and Miss Aneh Sunday, both from Ogodumo, Adoka in Otukpo LGA, were reportedly riding a motorcycle when the assailants struck.
“They were rushed to the Comprehensive Health Centre, Ugbokpo, where Mr Okoh was confirmed dead while receiving treatment. Miss Sunday is currently admitted and responding to treatment,” the source stated.
Nigerian troops were quickly deployed to the area, and a search operation in the surrounding bushes is ongoing to apprehend the attackers.
“The Criminal Investigation Department has commenced an investigation into the incident,” the source added.
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Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
The Joint Admissions and Matriculation Board has scrapped special concessions and registration procedures previously granted to candidates with albinism for the 2026 Unified Tertiary Matriculation Examination, citing abuse of the privilege to perpetrate examination malpractice.....TAP TO CONTINUE READING
The Board also warned faith-based tertiary institutions to clearly declare their religious status at the point of admission, saying it is deceptive to present as secular and later impose religious rules on students.
As reported by Vanguard, these decisions were taken on Saturday at a meeting between JAMB management, led by its Registrar, Prof. Isaq Oloyede, and Commissioners for Education from the 36 states of the federation and the Federal Capital Territory, held in Ikeja, Lagos.
Oloyede said the meeting was convened to review and assess previous admission exercises.
He noted that despite safeguards introduced by the Board, some individuals remained determined to circumvent the system.
“We have stopped some concessions we gave albino candidates. This is because some are using artificial intelligence to manipulate the registration process to look like they are albinos because of the consideration we gave them.
“Last year alone, over 7,000 claimed to be albinos. We have stopped special registration procedures for albinos,” he said.
Addressing complaints from candidates admitted into some private institutions over compulsory religious instruction, Oloyede urged faith-based schools to be transparent.
“Faith-based institutions should declare from the onset what they are, so that whoever applies there will know what he is going to meet there. But some don’t do that. They will pretend to be secular, but once students are admitted, trouble will begin over religious instruction and injunctions.
“If you are a faith-based institution, say so. The law allows you to set up faith-based schools,” he said.
On last year’s UTME, where the highest-scoring candidate was later found to be a 300-level university student, the JAMB registrar said investigations showed that some undergraduates sit for the examination to change courses or assist others to secure admission.
“Students who are already in school but want to change courses and are applying again must declare and disclose their status.
“We have found that some candidates already in school are writing the examination for other candidates. Last year, the candidate who scored the highest was found to be a 300-level student in the university.
“Henceforth, any candidate found engaging in such an act, and who fails to disclose that he is already in school but wants to change course, will be disqualified and will also lose his current admission,” he said.
On admission criteria, Oloyede explained that federal government-owned institutions allocate 45 per cent on merit, 20 per cent on catchment area, 20 per cent to educationally disadvantaged states, while the remaining slots are allocated to other considerations.
“Each owner or state has the right to decide what its admission criteria will be. But for states, we encourage them to allocate at least 10 per cent to merit, regardless of where the candidates come from.
“This is to diversify the student population and admit eggheads from different communities,” he said.
He criticised some states for establishing new universities despite not fully utilising their admission quotas in existing federal institutions.
On underage candidates, Oloyede said 16 years remained the minimum admission age, noting that an attestation process was in place for exceptional cases.
“Last year, about 42,000 claimed to be underage. After evaluation, only 78 met the criteria and were admitted. We are not saying there are no talented candidates, but the figure looks outlandish,” he said.
The issue of how to engage underage candidates during a gap year divided opinions at the meeting, but a majority voted for JAMB to continue its special assessment process.
The meeting also observed that parental pressure on children to complete their education too quickly was a major contributor to the problem.
On efforts to curb examination malpractice, Oloyede said JAMB had stopped the movement of computers between Computer-Based Test centres.
“A computer registered in a particular centre will remain there and is not transferable to another centre. Some people borrow computers to get accredited and later move them around,” he said.
He dismissed claims that candidates were posted to towns they did not choose, saying personal data used for registration were drawn directly from the National Identification Number submitted by candidates.
Providing an update on the 2025 UTME, Oloyede said 974,855 candidates had so far been admitted out of about 1.95 million who sat for the examination.
He added that over N2.4 billion had been disbursed to institutions that consistently complied with JAMB’s rules over the past 10 years, and that the meeting agreed that schools producing the best candidates should be compensated.
On accreditation of CBT centres, Oloyede said the process involved teams comprising university vice-chancellors, rectors and provosts in each state.
He warned state governments against agreements with private promoters who might use centres to facilitate malpractice.
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Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
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