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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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Dangote Spotlights Refinery, Vision 2030, Others, At Nasarawa Trade Fair

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Regional Director/Senior Adviser to Aliko Dangote, Fatima Wali-Abdurrahman.

 

Africa’s leading conglomerate will feature its flagship Dangote Refinery and Petrochemical Company at the 2026 Nasarawa Trade Fair, which will be officially declared open by the State Governor, Abdullahi Sule, on April 20.

Dangote Industries Limited will also showcase its Vision 2030, which focuses on driving innovation and Africa’s industrialization.

The Dangote Group is the major sponsor of the Nasarawa Trade Fair and Exhibition (NASTFE) with the theme: Unlocking Industrial Synergy: Deepening the Value Chain and Driving Inclusive Growth in Nasarawa State.

A statement from the company’s spokesman, Anthony Chiejina, said other Strategic Business Units of the company will be participating at the annual event in the state capital, Lafia.

Anthony Chiejina stated that products to be featured at the Fair will include those from the Group’s Strategic Business Units, such as Dangote Cement, Dangote Sugar, Dangote Salt and seasonings, Dangote SinoTruk, Dangote Packaging, and Dangote Fertiliser.

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The statement quoted the Regional Director/Senior Adviser to Dangote Group President, Fatima Wali Abdurrahman, as saying that Nasarawa State is key to the Group’s overall investment in Africa.

“It is home to Dangote’s Nasarawa Sugar Company Limited (NSCL). The sugar project, when completed, will be one of the biggest sugar investments in Africa,” she said.

Mrs. Wali-Abdurrahman noted that the Trade Fair provides a valuable platform for the company to engage with key stakeholders and Nigerians interested in exploring business opportunities with the organization.

She stated that a dedicated Help Desk will handle inquiries, enabling the company to effectively engage participants on the Dangote Group’s Strategic Business Units.

Speaking to newsmen in Lafia, Chairman and Council members of the Nigeria Association of Small-Scale Industrialists (NASSI), Nasarawa State Chapter, Nidan Sambo Manasseh, said the theme for this year’s Trade Fair aptly aligns with Dangote Group’s vision.

“We align strongly with the vision of Aliko Dangote, whose leadership continues to shape Nigeria’s economic future. His focus on industrialization, local production, and value creation inspires our efforts to connect MSMEs to structured value chains.

“Through this partnership, we are building a bridge between grassroots businesses and large industries, driving inclusive growth,” he said.

He said the third edition of NASTFE is designed as a practical business, industrial, and human capital development platform, adding that it is not just an exhibition.

According to him: “A major highlight of this year’s programme is the Empowerment Skill Acquisition Programme (ESAP), now structured as a package project for sponsorship support.

“ESAP is a yearly initiative from July-December targeting 2,000 beneficiaries across the 13 Local Government Areas of the State.

“The programme is strategically designed as a mobile training system, moving from one Local Government to another to ensure inclusive grassroots participation.”

Speaking on the Dangote Group’s Vision 2030, he said: “Our strategy is to align local enterprise development with large-scale industrial systems.”

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Al-Istiqama University Secures Full Accreditation for 11 Academic Programmes

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The Management of Al-Istiqama University, Sumaila, Kano State, is pleased to announce that the National Universities Commission (NUC) has granted Full Accreditation status to a total of eleven (11) academic programmes following the comprehensive accreditation exercise conducted in November and December 2025.

According to the official report released by the NUC, the programmes were assessed based on the Core Curriculum and Minimum Academic Standards (CCMAS), with emphasis on curriculum content, quality of academic staff, physical facilities, library resources, and employers’ rating.

The programmes granted Full Accreditation are:

Faculty of Health Sciences:
• Community Health Science
• Nursing Science
• Public Health

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Faculty of Arts, Social and Management Sciences:
• Shari’ah
• Criminology and Security Studies
• International Relations
• Sociology

Faculty of Science and Computing:
• Biology
• Biotechnology
• Computer Science
• Software Engineering

This achievement affirms the University’s unwavering commitment to delivering quality education and reflects the dedication and professionalism of its academic and administrative staff in building a centre of excellence. With this development, all accredited programmes have secured full recognition for a period of five (5) years.

The Management expresses its profound appreciation to the Founder, Senator Sulaiman Abdurrahman Kawu Sumaila, OFR, Ph.D., the Governing Council, Faculty Members, Heads of Departments, staff, and students for their collective efforts and commitment, which made this milestone possible.

Al-Istiqama University remains resolute in sustaining and further enhancing the high standards that have earned it this prestigious recognition.

Signed:
Professor Abdulhadi Sale Kumurya
Vice-Chancellor
Al-Istiqama University, Sumaila, Kano State

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Legacy of a Progressive Intellectual: Symposium and Book Launch to Honor Late Comrade Abubakar Sokoto Mohammed mni in Abuja

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A coalition of friends, colleagues, and comrades will gather on April 29, 2026, to celebrate the life and enduring legacy of the late Comrade Abubakar Sokoto Mohammed mni, a titan of Nigerian progressive intellectualism and social justice.

Comrade Mohammed, who passed away on December 11, 2025, was widely regarded as an incorrigible patriot and a cornerstone of the socialist movement in Nigeria. Throughout a distinguished career spanning Ahmadu Bello University (ABU), the National Institute for Policy and Strategic Studies (NIPSS), and Usmanu Danfodiyo University, Sokoto (UDUS), he remained a steadfast advocate for academic freedom, gender equality, and the transformation of Africa.

The memorial event aims to honor his decades of struggle—from his pivotal role in the Movement for Progressive Nigeria (MPN) and the anti-apartheid movement to his contributions as a founding member of Women in Nigeria (WIN) and a staunch leader within the Academic Staff Union of Universities (ASUU).

Event Highlights:

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• Symposium: Under the theme “Scholars and the Social Question in Nigeria: Reflections on the Life of A.S. Mohammed,” the session will be chaired by Senator Dr. Yahaya Abdullahi. Distinguished panelists include Dr. Yusuf Bangura, Prof. Jibrin Ibrahim, Prof. Aliyah Adamu Ahmad, and Dr. Julie Sanda.
• Book Launch: The event will feature the formal presentation of Comrade Mohammed’s major original work, The Satiru Revolt of Peasants and Slaves in Sokoto, 1906. The session will be chaired by the former Governor of Sokoto State, H.E. Mal. Yahaya Abdulkarim mni, with a review by Prof. M. J. Kuna.
• Endowment Fund: All proceeds from the book launch will benefit an Endowment Fund established to support the late Comrade’s family and the noble causes he championed.
• Biographical Tribute: Dr. J. Maina will present a biographical sketch detailing the life of the man many knew as a “crusader for the common good.”

Event Details:

• DATE: April 29, 2026
• TIME: 9:00 AM
• VENUE: BON Elvis Hotel, 2 Monrovia Street, Wuse 2, Abuja

Comrade Sokoto mni lived a life that inspires, leaving a legacy worthy of preservation. By documenting his struggles and advancing the discourse on justice and development, we ensure that his rich engagements continue to inspire the hope of making Nigeria a better country.

Members of the general public, the academic community, civil society, labour and the media are cordially invited to attend this day of reflection and celebration. The occasion offers an opportunity to reflect on a life devoted to justice and nation-building while contributing to a lasting legacy that will continue to inspire future generations.

Y. Z. Ya’u

 

For the Committee

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