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Nigeria Records Highest Debt-to-GDP Ratio in History Amid Alarming Borrowing Surge-Obi

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6 months ago

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Labour party 2023 presidential candidate Peter Obi

 

Former Labour Party presidential candidate Peter Obi has voiced strong concerns over Nigeria’s escalating public debt, following recent approvals by the National Assembly for massive external loans and domestic bond issuances. Obi made this known on his verified Facebook page in a detailed post addressing the fiscal implications and the broader socio-economic effects of Nigeria’s borrowing practices.

Senate Approves Massive Loans for 2025–2026 Fiscal Year
On July 22, 2025, the Nigerian Senate approved an additional $21 billion, €2.2 billion, and ¥15 billion in external borrowings for the 2025–2026 fiscal cycle. It also greenlit a N750.98 billion domestic bond issuance and a €65 million grant. According to Obi, with the nation’s public debt already at N149.39 trillion in Q1 2025, the new borrowings will spike the total debt to approximately N187 trillion, with projections suggesting it could exceed N200 trillion by year-end. (Source: Peter Obi, via Facebook post)

Nigeria’s Debt-to-GDP Ratio Hits Historic High

Obi highlighted that before the GDP rebasing, which placed the nation’s GDP at N269.2 trillion (roughly $180 billion), the total borrowing represented nearly 70% of the GDP. Even after the rebasing to N372.8 trillion (around $243.7 billion), the debt-to-GDP ratio remains at a staggering 50.16%—the highest in Nigeria’s history. (Source: Peter Obi)

Public Debt Soars With Little Tangible Impact

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Despite a year-on-year debt increase of N27.72 trillion and a quarter-on-quarter spike of N4.72 trillion, Obi lamented the lack of significant improvements in critical sectors. He pointed to stagnation in education, healthcare, electricity generation, and national security.

Human Development Indicators Still Alarmingly Low

Obi decried Nigeria’s poor rankings across major development indicators. Education funding continues to decline, healthcare remains out of reach for millions, and security has worsened. He cited figures of 10,217 lives lost and 672 villages destroyed between May 2023 and May 2025, despite increased security spending from N2.98 trillion in 2023 to N4.91 trillion in 2025. Infrastructure is similarly affected, with 135,000km of the country’s 195,000km road network remaining unusable.

Soaring Poverty and Child Deaths Amid Government Inaction

Over two years into the current administration, Obi noted that poverty continues to deepen. Approximately 133 million Nigerians are considered multi-dimensionally poor, while 652 children have died due to worsening malnutrition in the north. These statistics were compounded by a recent alert from Médecins Sans Frontières (MSF), flagging Katsina as one of the hardest-hit areas. (Source: Peter Obi / MSF)

Leadership Failures Highlighted in Debt Management

Obi criticized the government’s lack of transparency and accountability in managing borrowed funds. He argued that the absence of impactful investment and policy direction has led to generational consequences for Nigeria’s youth. (Source: Peter Obi)

Call for Economic Discipline and Inclusive Growth

The former candidate advocated a return to disciplined and prudent economic policies. He urged leaders to cut governance costs, block financial leakages, and invest in human capital to build a truly productive economy.

Vision for a New Nigeria
In closing, Obi called for responsible leadership and people-centered development. He emphasized that every borrowed kobo must be tied to measurable impacts that foster sustainable growth. Echoing his signature campaign message, he concluded: “A new Nigeria is Possible.”

 

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APC Rolls Out E-Registration to Digitize Membership Nationwide

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4 hours ago

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January 23, 2026

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By Yusuf Danjuma Yunusa

The All Progressives Congress has invited all stakeholders, supporters, and members, both old and new, to participate in its ongoing Membership Electronic-Registration Exercise across the Federation and the Federal Capital Territory.

APC National Publicity Secretary, Felix Morka, in a post obtained from APC’s X handle on Friday, said the exercise is being conducted in all wards nationwide.

“Existing members are expected to validate their membership, while new and intending members are encouraged to register and join the party.

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“Participants must be 18 years or older and possess a valid National Identification Number (NIN) to complete the registration process,” he said.

According to Morka, the e-Registration exercise is designed to digitise the Party’s membership register, ensure the integrity of records, provide efficient access to membership data for planning and management decisions, promote internal democracy, and strengthen APC’s commitment to democratic innovation in Nigeria.

He urged all eligible Nigerians to take part in the exercise and join the progressive family of Nigeria’s ruling party.

The APC noted that the initiative is part of its ongoing effort to modernise party operations, increase transparency, and ensure that party membership is up-to-date and verifiable nationwide.

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Tinubu Swears In New Federal Character Commission Chairman, 37 Commissioners

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5 hours ago

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January 23, 2026

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By Yusuf Danjuma Yunusa

President Bola Tinubu on Thursday swore in the new Chairman and 37 National Commissioners of the Federal Character Commission, FCC, at the State House, Abuja.

The ceremony, which began at about 4:48 pm, saw Hulayat Ayo Omidiran take the oath of office as FCC Chairman alongside commissioners representing all 36 states of the federation and the Federal Capital Territory, FCT.

Mrs Omidiran, 59, is a former two-term member of the House of Representatives who previously represented Ayedaade/Irewole/Isokan Federal Constituency of Osun State. She succeeds Dr. Muheeba Dankaka, whose tenure was widely criticised.

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Full List of Sworn-In Commissioners

Alongside Chairman Omidiran and FCC Secretary Mohammed Musa, the following were sworn in as National Commissioners:

1. Peter Ogbonna Eze – Enugu

2. AbdulWasiu Bawalla – Lagos

3. Obinna Oriaku – Abia

4. Lawal Ya’u Roni –
5. Abubakar Atiku Bunu – Kebbi

6. Eludayo Eluyemi – Osun

7. Bema Olvadi Madayi – Adamawa

8. Dora Ebong – Akwa Ibom

9. Nnoli Nkechi Gloria – Anambra

10. Babangida Adamu Gwana – Bauchi

11. Sir Tonye Okio – Bayelsa

12. Aligba Eugene Tarkende – Benue

13. Modu Mustapha – Borno

14. Dr Stella Odey Ekpo – Cross River

15. Ederin Lovette Idisi – Delta

16. Nwokpor Vincent Nduka – Ebonyi

17. Victor Sabor Edoror – Edo

18. Sola Fokanle – Ekiti

19. Ibrahim Baba Mairiga – Gombe

20. Jerry Alagbaoso – Imo

21. Ruth Jumai Ango – Kaduna

22. Muhammad Awwal Nayya – Kano

23. Anas Isah – Katsina

24. Bello Idris Eneye – Kogi

25. Dr Ibrahim Abdullahi – Kwara

26. Kayode Oladele – Ogun

27. Isah Jibrin – Niger

28. Ajimudu Bola – Ondo

29. Prince Ayodeji Abas Aleshinloye – Oyo

30. Pam Bolman – Plateau

31. Aaron Chukwuemeka – Rivers

33. Bobboi Bala Kaigama – Taraba

34. Jibir Maigari – Yobe

35. Sani Garba – Zamfara

36. Solomon Ayuba Dagami – FCT

37. (plus FCC Secretary) Mohammed Musa remains the commission’s administrative head.

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President Tinubu Assigns Four Appointed Ambassadors, Clears Way for Diplomatic Engagement

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6 hours ago

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January 23, 2026

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By Yusuf Danjuma Yunusa

President Bola Ahmed Tinubu has approved the initial diplomatic postings for four ambassador-designates, selected from a cohort of 68 nominees confirmed by the Senate in December 2023.

The announcement was made on Thursday by Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy.

”President Tinubu confirmed the postings of Ambassador Ayodele Oke as the ambassador-designate to France, and Colonel Lateef Are as the ambassador-designate to the United States of America.”

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”Also confirmed by the President is the posting of Ambassador Amin Dalhatu, former ambassador to South Korea, as the high commissioner-designate to the United Kingdom.

”Usman Isa Dakingari Suleiman, former governor of Kebbi, is the ambassador-designate to Turkey, where the President is scheduled to begin a state visit next week.

”In a memo to the Ministry of Foreign Affairs, President Tinubu urged the ministry to notify the governments of the four countries about the ambassador-designates, in accordance with diplomatic procedures.”

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