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

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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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INEC Announces Job Vacancies for Accountants, Engineers, Admin, IT, Clinical Officers

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has announced job vacancies for Nigerians seeking employment in various entry-level positions, including accountants, engineers, clinical officers, lawyers and other roles.

In a memo signed by the commission, INEC said the application period would run from Monday, July 20, to Monday, July 27, 2026.

“The recruitment exercise is aimed of strengthening the Commission’s institutional capacity in electoral administration, voter registration, data management, election logistics, and other critical electoral operations in furtherance of its constitutional mandate,” the memo reads.

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The commission listed accountant, clinical officer, lawyer, ICT officer, engineer, quantity surveyor, registration area officer (administrative officer) and registration area officer (executive officer) among the available vacancies.

It noted that applicants must be Nigerian citizens by birth or descent and must present a valid Certificate of State of Origin duly signed by the chairman or secretary of their local government.

It added that certificates endorsed by liaison officers would not be accepted.

The commission also said applicants must be computer literate and not be above 35 years of age at the time of application.

According to INEC, applicants must possess good character, must not have been convicted of any criminal offence, and must be willing to serve in any part of the federation where they are assigned.

It added that applicants must demonstrate integrity, discipline and commitment to public service.

INEC said applicants should submit their applications online through the INEC Recruitment Portal by clicking on the “Vacancies” tab on the homepage, completing the appropriate application form, uploading all required credentials and submitting the application online.

The commission further added that only shortlisted candidates would be invited to the next stage of the recruitment exercise.

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Kano Executive Council Approves ₦55.48bn for Schools, Roads, Healthcare, Water Project’s

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The Kano State Executive Council has approved projects and programmes worth ₦55.48 billion, with education receiving the largest share of the spending as the government intensifies efforts to improve infrastructure, healthcare, road networks, water supply and rural development across the state.

 

The approvals were made during the 40th Executive Council Meeting presided over by Governor Abba Kabir Yusuf at the Council Chamber, Government House, Kano.

 

Briefing journalists after the meeting, the Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, said the Council approved a total expenditure of ₦55,475,406,487.82 for strategic projects designed to accelerate socio-economic development and improve the welfare of residents.

 

According to him, the approvals reflect the administration’s commitment to strengthening education, healthcare, road infrastructure, water supply, environmental sanitation, housing, rural development and public service delivery.

 

Education Takes the Largest Share

 

Education emerged as the biggest beneficiary, with the Council approving more than 30 projects involving the renovation and construction of schools, provision of classrooms, libraries, ICT centres, staff quarters, perimeter fencing, furniture and solar power installations across the state.

 

Among the major approvals were the rehabilitation of Sani Bello Science College, Dawakin Kudu at over ₦1.02 billion, rehabilitation of Science Secondary School, Dawakin Tofa worth ₦896.3 million, settlement of outstanding boarding school feeding bills amounting to ₦816.2 million, establishment of the Maryam Abba Yusuf Modern Learning Centre at Rijiyar Gwangwan, rehabilitation of 31 buses under the Girls Child Education Initiative, and procurement of educational materials for special education schools.

 

Major Investments in Healthcare

 

The Council also approved several healthcare projects aimed at expanding access to quality medical services.

 

These include the reconstruction and upgrading of primary healthcare centres in Kumbotso, Kiru, Dukawa, Gano, Warawa, Gwale and Nassarawa, procurement of medical equipment for Garun Malam General Hospital, Ghari General Hospital, and the Kano State Comprehensive Sickle Cell Treatment Centre at Murtala Muhammad Specialist Hospital.

 

Billions for Roads and Infrastructure

 

Road construction and infrastructure development also received significant attention.

 

Among the key approvals were:

 

Construction of the Ungogo–Minjibir Road valued at ₦10.47 billion.

Construction of the Kofar Waika–Turba–Gidan Siminti–Dorawar Dillalai Road traversing Gwale, Dala and Ungogo Local Government Areas at ₦3.67 billion.

Reconstruction of roads around Singer Market at ₦3.09 billion.

Reconstruction of Ali Yakasai and Tukur Roads in Nassarawa Local Government Area.

Installation of solar-powered street lights on major roads.

Completion of the New Kano State House of Assembly Office Complex and other public infrastructure.

Compensation for Road Projects

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Under the Ministry of Land and Physical Planning, the Council approved over ₦6.5 billion as compensation to property owners affected by major road projects.

 

The beneficiaries include owners of 361 properties affected by the Kano Northern Bypass Road, 1,113 properties along the Gaya Dualised Road Project, and those impacted by the Kano–Dawakin Tofa–Gwarzo–Dayi Dualisation Project.

 

The Council also approved the purchase of a property at Kofar Nassarawa for conversion into an Islamiyya school for girls and women.

 

Water Supply, Environment and Flood Control

 

To improve water supply and environmental sanitation, the Council approved over ₦7 billion for the supply of diesel to water works, payment of electricity bills, annual desilting of drainage channels, cemetery intervention works, beautification of parks and construction of drainage systems across Gwale Local Government Area.

 

Housing and Rural Development

 

The Executive Council further approved the construction of perimeter fences and security gates at Kwankwasiyya City and Amana City, as well as the release of ₦1.169 billion as counterpart funding for the Rural Access and Agricultural Marketing Project (RAAMP).

 

It also approved the implementation of a Five-Year Kano Integrated Rural and Sustainable Community Development Framework.

 

Information Ministry Gets Broadcasting Equipment

 

The Council approved the procurement of modern broadcasting equipment for the Kano State Broadcasting Corporation, renovation of the office of the Commissioner for Information and Internal Affairs, and a two-day capacity-building workshop for public information officers across Ministries, Departments and Agencies.

 

Health Bills Head to Assembly

 

Beyond project approvals, the Executive Council approved the transmission of several health-related bills to the Kano State House of Assembly.

 

The proposed legislation includes the review of the Kano State Primary Health Care Management Board Law, the establishment of colleges of health sciences through the upgrading of health institutions in Kano and Bebeji, and the review of the Kano State Drugs and Medical Consumables Supply Agency Bill.

 

Council Bans ‘Daba’

 

The Council also declared the practice popularly known as “Daba” a deviant and unacceptable social act, directing security agencies and relevant government institutions to intensify enforcement against the practice.

 

It equally approved Kano State’s participation in the NG-CARES 2.0 Additional Financing Programme, aimed at expanding social protection initiatives, supporting vulnerable households and stimulating economic recovery.

 

Hajj, Halal Economy Receive Attention

 

Council members received a report on the successful conduct of the 2026 Hajj exercise, commending the welfare and safe transportation of Kano pilgrims.

 

They also received a presentation on the US$7.7 trillion Global Halal Economy, highlighting opportunities for Kano State to become a leading hub for Halal products and services.

 

Presentations were equally made on the Kano State Master Plan and achievements recorded in the revitalisation of regional water supply schemes.

 

Governor Receives Multiple Awards

 

During the meeting, Governor Abba Kabir Yusuf received several awards and recognitions from professional bodies, civil society organisations, youth groups, health institutions and media organisations in recognition of his administration’s performance in education, infrastructure, healthcare and public service.

 

Among the organisations that honoured the Governor were the Administrative Staff College of Nigeria (ASCON), the Computer Society of Nigeria, the Sickle Cell Foundation of Nigeria, the Association of Industrial Pharmacists of Nigeria, the Institute of Chartered Secretaries and Administrators of Nigeria, the Kano State Online Media Chapel, and several other professional and community organisations.

 

Speaking on the outcome of the meeting, Waiya said the decisions taken by the Executive Council underscore Governor Yusuf’s determination to deliver sustainable development and improve the quality of life of the people of Kano State through strategic investments in critical sectors

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Kwankwaso Hails President Trump for Commending Tinubu’s Efforts in Securing Nigeria

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The persistent stance taken against every inch of insecurity in Nigeria by President Tinubu, which today earned him global commendations, including that of President Donald Trump of America, calls for the Nigerian opposition to stop baseless attacks on the government and join hands with the President to secure the nation.

This was the submission of Dr. Musa Illiyasu Kwankwaso, the Director of Finance, Hadejia Jama’are River Basin, in a release he personally signed and issued to newsmen.

Kwankwaso is of the view that despite the open commendations of great presidents of the world, including President Trump, President Tinubu has maintained a relentless position in ensuring that the nation’s citizens sleep with their eyes closed without fear.

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“You can see that President Tinubu has earned great commendation from President Trump on his fight against insecurity. This is clearly an open fact that Nigeria today is getting it right and calls for every person who truly loves the country to give his support to the government.”

He added that, “Another thing of interest, and something that shows the love and concern President Tinubu has for Nigerians, is that he has given the go-ahead for the expansion of the nation’s military formations from eight to twelve.”

Bayo Onanuga, Special Adviser to the President (Information & Strategy), said in a release that President Bola Ahmed Tinubu has approved the expansion of the Nigerian Army’s structure from eight to twelve divisions—a landmark move to enhance the country’s security architecture and improve the operational effectiveness of the Nigerian Army.

Musa Illiyasu Kwankwaso highlighted that this approval underscores the President’s unwavering commitment to equipping the Armed Forces to address Nigeria’s evolving security challenges effectively and to further strengthen national defence capabilities.

He assured Nigerians that, sooner rather than later, citizens would be traveling freely from one end of the country to another without fear of being attacked.

The Director of Finance, Hadejia Jama’are River Basin, also commended Mallam Nuhu Ribadu, Ministers of Defence Badaru and Matawalle, as well as all the Service Chiefs, for their unwavering efforts in strengthening Nigeria’s security.

“Nigerians should pray for and appreciate these gentlemen for their total commitment to securing the country and freeing it from the shackles of insecurity.”

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