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

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

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.
General News
Senate Gives Tinubu Nod to Borrow Fresh $6Bn

Senate on Tuesday approved the fresh $6 billion loan request forwarded to the lawmakers by President Bola Tinubu.

Lawmakers approved the fresh loan on the same date the request letter was read by Godswill Akpabio, senate president.
The Senate approved the loans following the presentation and consideration of the report by Senator Aliyu Wamakko, chairman, Senate Committee on Local and Foreign Debts.
President Tinubu had written to the Senate seeking approval to borrow a total of $6 billion to finance key government projects and address budgetary gaps.
The requests were contained in two separate letters addressed to Godswill Akpabio, president of the Senate, and read during Tuesday’s plenary.
In the first letter, the President requested approval to obtain a $5 billion loan from Abu Dhabi Bank.
According to the President, the facility will be used to cover the nation’s budget deficit and support debt financing, among other fiscal obligations.
The request forms part of the Federal Government’s efforts to stabilise public finances and sustain ongoing government programmes.
In a separate communication, Tinubu also sought approval to secure a $1 billion UK Export Finance loan facility from London Citi Bank.
The loan is intended for the rehabilitation of key port infrastructure, including the Lagos Port Complex and Tin Can Island Port.
The President said the project aims to address critical infrastructure deficiencies in the country’s maritime sector
According to him, the rehabilitation will help improve efficiency, enhance safety standards, and support Nigeria’s efforts to diversify its economy beyond oil.
He added that the initiative would also strengthen Nigeria’s position as a regional trade hub.
Both requests have now been considered and approved by the Upper Legislative Chamber.
General News
FG Earmarks $2Bn to Launch 2 Satellites in 2028, 2029

Federal government has fixed 2028 and 2029 for the launch of two communication satellites, NIGCOMSAT-2A and NIGCOMSAT-2B, as part of efforts to strengthen security and expand digital connectivity.

The government will be committing over $22 billion on the ambitious space-led growth agenda focused on new satellite launches, increased industry revenue and expanded broadband access in underserved communities.
At the opening of the 2026 Nigerian Satellite Week in Abuja, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, confirmed the government’s approval for the acquisition of two new satellites—NigComSat 2A and 2B, describing the move as a “defining commitment” to national development, digital sovereignty and economic competitiveness.
Also, Mrs Jane Nkechi Egerton-Idehen, managing director of Nigerian Communications Satellite Limited (NigComSat), noted that the projects have moved beyond procurement to the execution stage.
She said the satellites are designed to enhance intelligence gathering, surveillance, and connectivity across Nigeria and neighbouring countries, particularly in support of security operations.
“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.
“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.
On his part, Tijani, said the satellite programme forms part of a broader government strategy to deepen digital infrastructure nationwide.
According to him, the initiative complements ongoing investments in fibre-optic expansion and telecommunications infrastructure, while extending connectivity beyond Nigeria’s borders.
“The President’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries.
“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.
“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” he said.
General News
FG Launches CLHEEAN to Streamline Access to Government Services

Federal government has announced the launch of CLHEEAN, an artificial intelligence-powered mobile application designed to improve interactions between citizens and public institutions.

It is also a civic education and community engagement app.
Developed under the National Orientation Agency (NOA), the platform functions as a virtual assistant accessible via mobile devices.
It allows users to access information on public policies, ask questions, and interact directly with government services.
The app includes features such as instant messaging, voice recognition, and multilingual support, including several local languages, to reach a wider audience.
With CLHEEAN, users can also submit feedback, report concerns, and take part in discussions on public policies. The approach is intended to strengthen citizen participation and improve communication between the government and the public.
Lanre Issa-Onilu, director general of the NOA, said the initiative addresses a long-standing gap between citizens seeking to be heard and systems that do not always respond effectively, adding that the platform marks a step toward closing that gap.
The launch comes as Nigeria continues to face challenges in citizen engagement and the dissemination of public information.
By leveraging artificial intelligence, authorities aim to make public services more accessible while improving transparency and responsiveness.
The initiative also reflects a broader trend across Africa, where governments are increasingly exploring the use of AI to modernize public services and strengthen ties with citizens.
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