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FG’s Fresh Loans: Experts Raise Alarm over Growing Debt 

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Many Nigerians have continued to raise concerns over the Federal Government’s borrowing spree in spite of claims that revenue generation has increased.

FG’s Fresh Loans: Experts Raise Alarm over Growing Debt 

The News Agency of Nigeria (NAN) reported that the National Assembly recently approved President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the 2025 budget deficit.

The legislators said that the 2025 budget provided for total expenditure of N59.99 trillion, an increase of N5.25 trillion from the initial N54.74tn proposed by the executive.

They said the expansion created a total budget deficit of N14.10 trillion, out of which N12.95 trillion had already been approved for borrowing.

Data from the Debt Management Office (DMO) showed that as of June, Nigeria’s total public debt stood at N152.4 trillion, made up of N71.85 trillion external and N80.55 trillion domestic debt.

Senator Olamilekan Adeola, chairman of the Senate Committee on Appropriations, said most of the loan requests had already been factored into the Medium-Term Expenditure Framework and the 2025 budget.

“The borrowing is already embedded in the 2025 Appropriation Act.

“With this approval, we now have all revenue sources, including loans in place to fully fund the budget,” Adeola said.

Senator Sani Musa, chairman of the Senate Committee on Finance, said that the borrowings aligned with global economic practices.

“There is no economy that grows without borrowing. What we are doing is in line with global best practices,” he said.

However, Senator Abdul Ningi said that Nigerians deserved to know the specifics of the loans and their intended impact.

Some experts said that Nigeria’s debt service burden could worsen due to the new borrowing plans.

Dr Muda Yusuf,  chief executive officer, Centre for the Promotion of Private Enterprise, said that Nigeria’s rising debt service burden was already outpacing capital expenditure.

Yusuf said that it could begin to crowd out essential government functions if not properly managed.

He said that there was a need for the government to focus more on revenue growth and fiscal consolidation than piling on new debts.

“Debt service is already far more than the appropriation for capital spending, and the trend is worrying.

“We need to tread very cautiously with respect to debt commitments,” he said.

Yusuf said that Nigeria was spending far beyond its means, with more than 80 per cent of government revenue now devoted to debt servicing.

“We are borrowing primarily to fund consumption and recurrent expenditure rather than productive capital projects.

“This path will only deepen the fiscal crisis if urgent reforms are not undertaken,” he said.

Vahyala Kwaga, deputy country director at BudgIT,  said the Federal Government’s plan to take on new loans risked breaching Nigeria’s debt threshold.

Kwaga said that the government needed to demonstrate far more transparency and accountability on how it had expended previous debts.

Bismarck Rewane, chief executive officer (CEO), Financial Derivatives Company, said that increased domestic borrowing could crowd out private investment.

According to Rewane, the government’s rising appetite for local debt will push up interest rates and reduce access to credit for businesses.

Rewane also said that the borrowing spree may fuel inflationary pressures.

Meanwhile, the DMO said that Nigeria’s public debt remained sustainable.

Speaking at the recently held Nigerian Economic Summit in Abuja, Patience Oniha, director-general of the DMO, said that the country’s debt-to-Gross Domestic Product ratio was currently about 40 per cent.

Oniha said that it was well below the 70 per cent international benchmark for emerging economies.

According to her, in spite growing public concern about Nigeria’s debt profile, the country’s borrowing level is not excessive by global standards.


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Myitura Launches Women-Focused Healthcare Financing Solutions to Bridge Access Gap

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In commemoration of Women’s Month, health-tech platform Myitura has released a new white paper addressing the critical gaps in healthcare financing for women in Nigeria.

Titled “Closing the Gap: Healthcare Financing for Women in Nigeria,” the report highlights how high out-of-pocket costs, limited insurance coverage, and socio-economic factors continue to prevent women from accessing timely healthcare.

According to the report, over 70% of healthcare expenses in Nigeria are paid out-of-pocket, disproportionately affecting women who often delay care due to financial and social constraints.

“When women can afford to take care of their health early, we don’t just save lives; we strengthen families, communities, and the economy,” said Chialuka Kelechi, MyItura’s Chief of Staff.

Key Insights from the White Paper:

  • Preventable conditions often escalate due to delayed care
  • Women are more likely to deprioritize their own health
  • Affordable, structured healthcare financing can significantly improve outcomes

Introducing a Women’s Health Initiative

As part of its commitment, Myitura is launching affordable women-focused health packages (powered by Mediloan), starting at ₦58,180, designed to encourage preventive care and early detection.

The package provides access to:

  • Fasting/Random Blood Sugar
  • Urinalysis
  • Electrolytes
  • Urea
  • Creatinine
  • Pap Smear Submitted slides
  • HIV I & II Rapid (Qualitative)
  • Hepatitis B Surface Antigen Screening (Rapid)
  • Hepatitis C Virus Screening (Rapid)
  • Abdominopelvic Ultrasound
  • Ongoing support via the Myitura platform

Access:

Women can access these packages by downloading the Myitura app, which makes healthcare more accessible and convenient.

Myitura is a health-tech platform focused on improving access to healthcare through financing, technology, and preventive care solutions.

 


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DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Report Highlights Strategic Trends, Risks

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DigitalSENSE Business Intelligence (DBI), powered by ITREALMS Media, has launched the Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report (Executive Edition), delivering vital insights for navigating Nigeria’s fast-paced digital landscape.

DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Report Highlights Strategic Trends, Risks

This executive summary spotlights trends, risks, and opportunities in telecommunications, fintech, digital infrastructure, policy shifts, and investment flows. It underscores digital transformation’s pivotal role in boosting economic growth, financial inclusion, and nationwide innovation.

DBI Publisher, Ogbuefi Remmy Nweke, emphasized its value for leaders: “This Executive Edition offers a sharp, strategic view of Nigeria’s digital economy during a pivotal moment. As the sector surges ahead, reliable intelligence is key to seizing opportunities and tackling risks.”

Key highlights include:

  • Broadband infrastructure expansion.

  • Surge in digital payments adoption.

  • Evolving regulations.

  • Investor pivot to sustainable, profitable ventures.

The report urges action on digital financial inclusion, infrastructure funding, skills training, and public sector digitization.

Freely accessible, the Executive Edition complements the premium Full Edition with in-depth analysis for executives and institutions. Stakeholders can request full access or briefings.

Media & Access Contacts:
Email: [email protected]
Website: www.itrealms.com.ng


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NASENI Renewable Energy Industrial Park Underway as Construction Gains Momentum

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The on-going construction works at the National Agency for Science and Engineering Infrastructure, NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State is gathering momentum as the project is envisioned to address the country’s energy needs.

NASENI Renewable Energy Industrial Park Underway as Construction Gains Momentum

NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State

The project occupying a 40-hectare park designed as a multi-energy hub will help curb capital flight and save foreign exchange expenditure by enabling local production of key renewable energy components such as solar panels, mounting racks, wind systems and biomass technologies.

Speaking during an inspection visit on the project site on Tuesday, March 31, 2026, Special Adviser to the Executive Vice Chairman on Renewable Energy, Engr. Suyud Abdullahi Muhammad, who also serves as the Gora Project Manager, disclosed that the initiative is designed to significantly reduce Nigeria’s dependence on imported renewable energy equipment.

“There will be a wind assembly plant, small hydro power equipment production, and solar panel manufacturing; Renewable energy goes beyond just solar, and this park reflects that broader vision,” he said.

Abdullahi noted that the project aligns with NASENI’s goal of reducing energy poverty in Nigeria, where over 80 million citizens remain off-grid, while many connected to the national grid continue to experience inadequate power supply.

The Special Adviser also emphasised on the project’s industrialisation potential, highlighting its role in job creation and value chain development. The park is expected to generate 2,000 direct jobs, with an additional 50,000 indirect employment opportunities across supporting industries when completed.

“This initiative will localise the renewable energy value chain. Instead of relying on imports, Nigeria will begin to produce and eventually export these technologies, starting with the West African market and scaling up to the rest of the continent,” he added.

On sustainability and long-term viability, he revealed that the project is being executed in collaboration with private sector players, academia and other stakeholders, in line with NASENI’s “3Cs” principle of Creation, Collaboration and Commercialisation.

The ongoing construction is being handled by about 35 contracting firms, each handling specific components at varying levels of execution such as Multipurpose Halls for industrial productions, Research and Development (R&D) Centre, Knowledge Park, Energy Centre, Workshops, Researchers Lodge, Studio Apartments, Clinic, Restaurant, Wellness Centre, Solar Farm, Drivers Lounge, Gate House, Internal roads and drainage system and Fencing.

The Gora Renewable Energy Industrial Energy Park is considered a key component of the Federal Government’s Renewed Hope Agenda, aimed at strengthening local manufacturing, enhancing energy security and positioning Nigeria as a renewable energy hub in Africa.


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