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Sunday, 06 April 2025 04:43

Nigeria’s debt by end of 2023 was N97.34trn. Just one year after, it surged by 49%. Here are the details

Nigeria's total public debt reached N144.67 trillion ($94.23 billion) by December 31, 2024, marking a dramatic 48.58% increase from the N97.34 trillion ($108.23 billion) recorded at the end of 2023, according to the latest report from the Debt Management Office (DMO). The debt burden continued its upward trajectory with a 1.65% quarter-on-quarter increase from N142.32 trillion in September 2024, reflecting persistent fiscal pressures in the final months of the year. External and Domestic Debt Components The substantial rise was driven by increases in both external and domestic borrowings: - External debt surged by 83.89% to N70.29 trillion ($45.78 billion) from…

Sunday, 06 April 2025 04:42

US revokes all South Sudan visas, bars future issuance. Here’s why

Secretary of State Marco Rubio on Saturday announced the U.S. will revoke visas held by South Sudanese passport holders and no others will be issued, effective immediately. Rubio attributed the change to "the failure of South Sudan's transitional government to accept the return of its repatriated citizens in a timely manner," according to a statement posted on X. The U.S. Department of State on Saturday wrote in a statement that it is time for the transitional government of South Sudan to "stop taking advantage" of the U.S. "Enforcing our nation’s immigration laws is critically important to the national security and…

Saturday, 05 April 2025 04:38

Key gas pipeline owned by Oando attacked in N’Delta

Suspected oil thieves have vandalized the 24-inch Ogboinbiri/Obiobi (OB-OB) gas pipeline in Southern Ijaw Local Government Area of Bayelsa State. The pipeline, previously operated by the Nigerian Agip Oil Company, is now owned by Oando PLC. The Bayelsa State government has condemned the act, describing it as economic sabotage, and pledged to collaborate with security agencies to arrest the perpetrators. In a statement on Friday, the Commissioner for Information, Orientation, and Strategy, Mrs. Ebiuwou Koku-Obiyai, warned that such destructive acts would not be tolerated. “The government strongly condemns the criminal vandalism of the Ogboinbiri/Obiobi gas pipeline. We are working with…

Saturday, 05 April 2025 04:37

Nigeria receives over 1m meningitis vaccine doses from Gavi

Nigeria has received more than 1 million meningitis vaccine doses from Gavi-funded global stockpile to combat an outbreak of the deadly disease in Africa's most populous nation, Gavi said on Friday. More than 70 people have died from the outbreak across several Nigerian states, with over 800 cases recorded, Gavi said. Nigeria is one of the hotspots of the deadly disease in Africa, where at least 1,700 cases were reported last year, with more than 150 deaths recorded in seven states. Gavi, a public-private partnership that helps fund vaccines for developing countries, said this first shipment would enable the launch…

Friday, 04 April 2025 04:26

Thumb down for NYSC for punishing Corps members over complaints of delayed allowance

The Edo chapter of the National Youth Service Corps (NYSC) has extended the service of some corps members by 90 days. The punishment, TheCable understands, was approved by Frances Ben-Ushie, the Edo state coordinator of NYSC. The affected corps members were penalised for protesting their unpaid N77,000 allowance in a social media group. They learned of their punishment after receiving a “notification of extension of service” instead of the expected discharge certificates. The NYSC management in Edo sanctioned the corps members with a 90-day service extension without pay. The sanctioned corps members, it is understood, were originally scheduled to complete…

Thursday, 03 April 2025 02:48

World Bank approves fresh $1.13bn loan for Nigeria

The World Bank says a total of $1.13 billion loan request from Nigeria has been approved. According to details from the bank’s website on Wednesday, three different financing requests were approved in March, for projects targeting quality education, household and community resilience, and improved nutrition. The World Bank said $80 million was approved for the ‘Accelerating Nutrition Results in Nigeria 2.0’ project, and $552 million for the ‘HOPE for Quality Basic Education for All programme’, on March 31. Further checks by TheCable showed that on March 28, the lender also approved a $500 million loan for Nigeria’s ‘Community Action for…

Thursday, 03 April 2025 02:47

Governors should regard all Nigerians in their states as indigenes, Sultan advocates

The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has urged governors to treat other Nigerians residing in their states as indigenes. He made the call during his Sallah homage to governor Ahmed Aliyu at the Banquet Hall, Presidential Lodge, Sokoto. He said in Sokoto all Nigerians are treated as indigenes, an act that gives Nigerians residing in the state a sense of belonging. “In Sokoto, we don’t have non-indigenes, but rather members of the resident communities,” he said. The monarch, therefore, called on other states to copy this pattern so as to further foster sustainable peace, harmony and good brotherhood among…

Wednesday, 02 April 2025 04:38

Tinubu overhauls NNPC Board, sacks Kyari, appoints new leadership

President Bola Tinubu has dissolved the board of the Nigerian National Petroleum Company (NNPC) Limited, removing Group CEO Mele Kyari and Chairman Pius Akinyelure alongside all other directors appointed in November 2023. A new 11-member board was announced early Wednesday, with Bashir Bayo Ojulari taking over as Group CEO and Ahmadu Musa Kida as the new non-executive chairman. The changes, effective immediately, come as part of Tinubu’s push to “enhance efficiency, attract investment, and drive gas commercialisation”. New Board Composition The reshuffle introduces fresh faces, including: - Adedapo Segun (Chief Financial Officer, retained from previous board) - Bello Rabiu (North…

Tuesday, 01 April 2025 04:34

Nigerians borrowed N470bn in personal loans within 3 months amid soaring living costs

The Central Bank of Nigeria (CBN) has reported that Nigerians took out a staggering N470 billion in personal loans from banks in just three months (October–December 2024), underscoring the deepening financial strain on households due to skyrocketing inflation and stagnant wages. According to the CBN’s Fourth Quarter 2024 Economic Report, total consumer credit surged by 11.06% to N4.72 trillion, with personal loans alone jumping by 21.27% to N3.82 trillion — making up 80.98% of all consumer credit. Meanwhile, retail loans (typically used for business or property) dropped sharply by 18.18% to N900 billion, signaling that Nigerians are borrowing more for…

Tuesday, 01 April 2025 04:33

Mali, Niger, and Burkina Faso impose import levy on ECOWAS countries

Mali, Niger, and Burkina Faso have introduced a 0.5% import duty on goods from Economic Community of West African States (ECOWAS) member nations, further straining relations between the three junta-led nations and the regional bloc they exited earlier this year. The three countries, now part of the Alliance of Sahel States (AES), initially formed a security pact in 2023 but have since expanded their cooperation into economic and military affairs. In a joint statement last week, the AES announced that the levy, which took effect on Friday, is intended to generate revenue for the alliance’s activities. The tax applies to…

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Monday, 31 March 2025 04:52

200 cows rustled, 20 poisoned, Miyetti Allah alleges as tensions rise between herders and farmers in Benue

The Miyetti Allah Cattle Breeders Association of Nigeria, MACBAN in Benue State has raised the alarm over the alleged poisoning and rustling of members’ cattle by criminal elements in Agatu Local Government Area, LGA, of Benue state. The Chairman of MACBAN in the state, Risku Muhammed who raised the alarm weekend said over 20 cows belonging to Fulani herdsmen were Saturday poisoned at Ucha village in Agatu. He explained that aside the poisoned cattle, “over 200 cows were last Thursday also rustled by the criminals but for the prompt intervention of security operatives who arrested one of the rustlers while…

Sunday, 30 March 2025 04:55

Sultan declares end of Ramadan, today as Eid-el-Fitr

Muhammad Abubakar Sa’ad, the Sultan of Sokoto and President of the Nigerian Supreme Council for Islamic Affairs (NSCIA), has announced the sighting of the Shawwal crescent, marking the end of Ramadan. In a nationwide broadcast on Saturday, the Sultan confirmed that today Sunday, March 30, 2025, will be celebrated as Eid-el-Fitr, the festival marking the conclusion of the holy month of fasting. “Today, the 29th of Ramadan 1446 AH, the crescent moon has been sighted, signifying the end of fasting. Consequently, Sunday, 30th March 2025, will be the first day of Shawwal and the day of Eid-el-Fitr,” the Sultan declared.…

Sunday, 30 March 2025 04:54

Myanmar earthquake death toll passes 1,600

Myanmar's military rulers let in hundreds of foreign rescue personnel on Saturday after an earthquake killed more than 1,600 people, the deadliest natural disaster to hit the impoverished, war-torn country in years. Friday's 7.7 magnitude quake, among the biggest to jolt the Southeast Asian nation in the last century, crippled airports, bridges and highways amid a civil war that has wrecked the economy and displaced millions. The death toll in Myanmar climbed to 1,644, the military government said on Saturday, according to BBC Burmese news service. In neighbouring Thailand, where the quake rattled buildings and brought down a skyscraper under…

Saturday, 29 March 2025 04:55

‘Not our mother!’ – Presidency in damage control after student protest against Tinubu's wife

A Nigerian nursing college's attempt to punish a student for viral anti-government chants has backfired, exposing the rising unpopularity of President Bola Tinubu's administration amid worsening economic conditions that are hitting students and poor Nigerians hardest. The Viral Protest That Embarrassed the Government During First Lady Remi Tinubu's visit to Delta College of Nursing Sciences on March 25, students defiantly rejected a ceremonial song proclaiming her as their "mother." A lead singer began: "Na our mama be dis-oo, we no get anoda one" (This is our mother, we have no other). But instead of echoing the praise, the students chanted…

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