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Ex-Govs Incur N1.58TRN Debt for 21 states

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A month long investigations by Nigerian Pilot has revealed that 21 state governments in Nigeria owe an estimated debt of N1.58 trillion (domestic and foreign debts) as at May 29, 2015.

Top on the list is Lagos State under former Governor Babatunde Fashola with N418.2billion, followed by Kano during the administration of Dr. Rabi’u Kwankwaso with N294.5billion and Rivers led by Rotimi Amaechi N138.3 billion and Jigawa under Sule Lamido (N117).

Except Lamido, the other three former governors were elected or defected to the All Progressives Congress, APC, which at present controls the Federal Government and most states of the federation.

Other highly indebted states are Akwa Ibom (Godswill Akpabio-N125.7bn); Plateau-N104bn (Jonah Jang); Kaduna-N71bn (Ramalah Yero); Niger-N57bn (Babangida Aliyu); Zamfara-N53bn); Benue -N31.6bn (Gabriel Suswam); Osun-N25.4bn (Rauf Aregbesola); Imo-N32.4bn (Rochas Okorocha); Adamawa-N22.4bn (Murtala Nyako); Cross River-N38.3bn (Liyel Imoke); Edo-N34.6bn (Adams Oshiomhole); Ogun-N27.8bn (Ibikunle Amosun); Oyo-N32.6bn; Kwara-N28.7bn; Anambra N17.6bn (Peter Obi); Bauchi N17.5bn (Isa Yuguda) and Ebonyi N10.5bn (Martin Elechi) and Abia N6.76 bn (Theodore Orji).

While most of the highly indebted states have accumulated debts through issuance of bonds, Abia State has been very cautious about doing this, hence its position as one of the least indebted states.

Nevertheless, the survey showed that all the states are indebted except Katsina which is debt-free.

Nigeria’s total public debt stock, according to the Debt Management Office, DMO, as at December 2014 stood at about $67.73billion and N11.2trillion, which is about N1.2trillion higher than the 2013’s figure of N10.04trillion.

According to Nigeria Pilot, a  breakdown of the figures showed that external debt, including those of the states, was $9.71 billion and N1.63trillion.

The Federal Government’s domestic debt was $47.05billion and N7.9trillion, while those of the states stood at $10.97billion and N1.708trillion.

Based on the huge debt profile of the state governments, the Federal Government had last year directed Deposit Money Banks not to grant fresh loans to state governors until they get approval and clearance from the Federal Ministry of Finance.

The directive had stirred misgivings from most state governments, which accused the Federal Government of attempting to frustrate them from securing funds from banks to settle contractors and finance ongoing developmental projects.

According to the immediate past Minister of State for Finance, Bashir Yuguda, “The domestic debt profile of some states is scary. The states are so much in debt that only a small amount of their allocations get to them at the end of the day, because most times, money for debt servicing is removed from source.”

The former minister said this was the reason the Federal Government had to discourage states from further borrowing.

Even where it becomes necessary that they must take such loans, the minister said they must be for the execution of priority projects with prospects of high returns to service those loans on schedule.

Commenting on the situation, World Bank Consultant and former Abia State Finance Commissioner, Dr. Phillip Nto, blamed it on lack of frugal management of resources and penchant by some immediate past state governors for bonds.

“Ordinarily when you collect bond, you are mortgaging your future because you pay over a long period of time. A good governor that feels that it is not proper to mortgage the future of his state will not go for bond. For instance, Abia State is trying to come out from the mess, the monumental difficulty which it was pushed into in early 2000, that was why Governor Theodore Orji did not take any new bond, so for the state to be mortgaged again means that the state will be declared insolvent,’’ he said.

Observers attribute the inability of many states to pay staff salaries to the debt issue. As at press time, the following states are owing workers’ salaries running into several months: Abia, Akwa Ibom, Bauchi, Benue, Cross River, Ekiti, Imo, Jigawa, Kano, Katsina, Kogi, Ogun, Ondo, Osun, Oyo, Plateau, Rivers and Zamfara.

With the above scenario, concerns are being expressed about the future of some indebted states with some Nigerians calling for mergers or return to the old regional system of government. Others canvassed the pruning of government functionaries, retrenchment and salary cut.

Already, Kaduna State Governor, Mallam Nasir El-Rufai and his deputy have announced 50 percent cut in their respective salaries.

For instance, DMO recently warned that the financial position of states such as Akwa Ibom, Edo, Kwara, Ondo, Plateau and Taraba are already precipitating to insolvency.

DMO had earlier placed states of the federation into three categories with regards to their solvency profile. While some states are already in the danger mark as a result of their high level of indebtedness, others are considered close to critical on the domestic debt sustainability analysis scale.

Bayelsa, Cross River, Delta, Zamfara, Kogi, Ebonyi and Adamawa states, according to the report of domestic debt sustainability analysis undertaken by the DMO, are all on danger list.

The report presented to the National Executive Council, NEC, by the DMO showed that seven states’ domestic indebtedness relative to their internally generated revenue, IGR, capacities is beyond the recommended international debt threshold of between 92 and 167 per cent.

New Lagos State Governor, Akinwunmi Ambode, inherited a debt burden of N418.2 billion accumulated by the immediate past government of Babatunde Fashola. A breakdown of the debt showed that Fashola’s government has a domestic debt in the tune of N69.666 billion, obtained from funds borrowed from banks; N225 billion from bond issuance and N207.499 billion external loan from foreign agencies . Kaduna State debt comprised N46bn from Local Government Sources, N2bn Internal Bonds and N23bn pending arrears to contractors in the state.

In Ebonyi State, the debt profile excludes outstanding staff salaries. The governor, Chief Dave Umah, recently ordered permanent secretaries and directors of parastatals involved in the award and execution of contracts in the past eight years to provide details of such contracts for immediate scrutiny while his Rivers State counterpart, Nyesom Wike, last week ordered permanent secretaries to present 18 months accounts of their ministries.

But while Governor Simon Bako Lalong of Plateau State insists that the state debt is N104billion, his predecessor, Jonah Jang said that he left a debt profile of N18bn.

There is an indication that the huge debts are already taking their toll on some states. These include their inability to pay workers’ salaries and contractors for job done.

Already, some of the new governors have ordered reversal of the recruitment of members of staff conducted in the last two years, saying their government cannot employ more workers when they have no money to pay their present workforce.

Experts say the huge debts will make it difficult for the new state governments to embark on new development projects or employ fresh hands given the level of unemployment in the country.


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The Nigeria Prize for Science & Innovation Records New Height as 2026 Edition Attracts 237 Entries

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(2nd Left) GM, External Relations and Sustainable Development, NLNG, Sophia Horsfall, presenting entries for The Nigeria Prize for Science and Innovation to the Chairman of the Prize’s Advisory Board, Prof. Barth Nnaji, at a press conference held in Lagos on Thursday.
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For the first time since it was established in 2004, the 2026 edition of The Nigeria Prize for Science and Innovation has recorded an historic milestone, attracting a record-breaking 237 entries.

The submissions were formally handed over to the Prize’s Advisory Board at a press conference in Lagos on Thursday, marking the start of the adjudication process.

The handover marks the beginning of the search for Nigeria’s most innovative scientific mind, under the theme “Innovations in ICT, Artificial Intelligence (AI), and Digital Technologies for Development.” The theme was a deliberate retention from the 2025 edition, which concluded without a winner after no entry met the required standard for selection.

Speaking at the press conference, Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, said the continued focus on digital technologies reflects both global trends and Nigeria’s development priorities. She noted that the Prize remains a platform for identifying solutions with real-world relevance.

“In this fourth revolution, digital infrastructure is as foundational to our survival as electricity or water. For Nigeria, our economic sustainability depends on our ability to move beyond promising research and into undeniable innovation that delivers,” she said.

She added that global recognition for Nigerian innovation must be earned through stringent standards. “We believe that if a Nigerian discovery is to command global respect, it must withstand the highest levels of scrutiny. It is this conviction that guided the difficult decision seven months ago”.

While acknowledging the level of interest the theme continues to attract, Horsfall maintained that expectations remain uncompromising, noting that only solutions demonstrating real impact and scalability will be considered. She added that the decision not to award a winner in 2025 reflects this commitment and sets the benchmark for the current adjudication process.

Receiving the entries, Chairman of the Advisory Board, Barth Nnaji, described the handover as a decisive stage in the Prize’s selection process, emphasising that its credibility is anchored on strict standards of excellence. He reaffirmed that the Prize remains focused on identifying innovations that translate scientific insight into tangible socio-economic outcomes.

“Our refusal to award the prize in 2025 was not a dismissal of the hard work of Nigerian innovators; rather, it reinforces that The Nigeria Prize for Science and Innovation holds a gold standard of excellence,” he stated.

He further clarified that the outcome of the 2025 edition, in which no winner was declared, should be viewed within the context of the Prize’s rigorous evaluation framework, which demands novelty, depth, relevance, and demonstrable impact. He emphasized that all entries will continue to be subjected to the same high level of intellectual and technical scrutiny.

Professor Nnaji added that the Prize seeks solutions that directly address Nigeria’s real-world challenges. “Our broader objective is to identify work that brings tangible impact to the challenges Nigeria faces, whether through digital health technologies that serve rural populations or the use of AI in preserving our cultural heritage and languages.”

Other members of the Board are Chief Dr. Nike Akande, a two-time former Minister of Industry, and Professor Baba Yusuf Abubakar, a professor of quantitative genetics and animal breeding.

The Nigeria Prize for Science and Innovation, now in its 22nd year, is valued at $100,000 and remains arguably Africa’s most prestigious science award. The winning entry for the 2026 edition will be unveiled at a world press conference scheduled for September.


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FG, World Bank Launch $65m SPESSE Funding for 24,000 Nigerians

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Federal government, in partnership with the World Bank, has launched a fresh $65 million funding phase of the Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) project aimed at benefiting more than 24,000 Nigerians through professional training and institutional capacity development.

FG, World Bank Launch $65m SPESSE Funding for 24,000 Nigerians

The initiative, coordinated by the National Universities Commission (NUC), is designed to strengthen procurement systems, environmental management and social standards across public and private institutions, while promoting transparency, accountability and sustainable development practices nationwide.

Abdullahi Ribadu, executive secretary of the Commission, disclosed this in Abuja during the signing of performance contracts for the additional SPESSE financing. He explained that the intervention builds on the gains of the initial $80 million SPESSE project, which became effective in 2021.

According to Ribadu, the programme has significantly improved institutional frameworks and developed professional expertise in key governance sectors. He noted that the initiative was introduced to address the shortage of qualified professionals in procurement, environmental management and social standards within both public and private institutions.

He said: “With the support of the World Bank and under the coordination of the NUC, six centres of excellence were established across the six geopolitical zones to provide sustainable capacity building in these critical sectors”.

Ribadu stated that the participating universities were selected through a transparent and competitive process based on institutional readiness, quality assurance and sustainability.

He added that the institutions have continued to produce skilled manpower capable of advancing transparency, environmental responsibility and inclusive national development.

He described the contract signing ceremony as a renewed commitment to accountability, sustainability and institutional excellence, noting that the centres have recorded major achievements, including the introduction of specialised academic programmes ranging from short courses to undergraduate and postgraduate degrees.

The NUC boss further disclosed that three of the six centres have already commenced PhD programmes, while the remaining centres are expected to begin by July 2026.

He added that under the new funding phase, the Commission targets at least 60 PhD graduates, enrolment of 60 foreign students, staff internships and expanded student exchange programmes with international institutions.

Also speaking, Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), said the project has so far trained more than 2,700 officers from both the public and private sectors to improve procurement competence nationwide.

He said the next phase would support the rollout of Nigeria’s electronic procurement system and expand online capacity-building programmes for policymakers and small and medium-scale enterprises involved in managing public funds.

On his part,  Ishtiak Siddique, World Bank Task Team Leader for SPESSE, revealed that more than 40,000 participants had benefited from training under the original project, with over 4,000 certified in procurement, environmental and social standards.

Siddique said the additional funding would focus on strengthening the capacity of federal, state and local government agencies to improve development outcomes and service delivery, stressing that sustainability remained central to ensuring continuity beyond donor support.

For her part, Prof. Folasade Ogunsola, Vice-Chancellor, University of Lagos,  reaffirmed the institution’s commitment to advancing professional capacity development under the SPESSE framework through postgraduate training, institutional ownership and international collaborations.


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Kaspersky Challenges IT Leaders with Next-generation Cyber Protection Simulations

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Kaspersky has expanded its Kaspersky Interactive Protection Simulation (KIPS) with new advanced cyberattack scenarios tailored specifically for IT organisations.

The update introduces realistic simulations of deepfake-enabled fraud, supply chain compromise, trusted relationship attacks and destructive wiper malware, helping businesses test their preparedness against today’s complex threat landscape.

IT companies remain one of the most attractive targets for cybercriminals. As attackers increasingly combine social engineering, supply chain manipulation and ransomware tactics, organisations require hands-on, strategic training that reflects real-world attack dynamics.

Kaspersky Interactive Protection Simulation is designed to bridge the communication gap between CISOs, IT teams and top management. By immersing participants in realistic cyber crisis scenarios, KIPS demonstrates the operational and business impact of attacks in an accessible, engaging format.

Real-world attacks in a realistic simulation environment

The updated IT-focused scenario in KIPS exposes participants to modern attack techniques observed by Kaspersky experts in active malicious campaigns targeting the IT sector.

Participants may face:

Binary Backdoor in the Build – a supply chain attack that compromises software during signing, packaging or distribution stages. Once deployed, the tampered product enables data theft, persistent remote access and the compromise of trusted customers downstream.

DeepFake Boss – a social engineering campaign leveraging AI-generated video and voice impersonations of corporate executives to manipulate finance teams into initiating unauthorised payments.

Trusted Relationship Attack (VPN) – exploitation of third-party access and remote connectivity tools to infiltrate corporate environments through contractors or service providers.

Wiper Attack (Babuk) – a destructive malware scenario based on leaked Babuk ransomware code. This scenario tests resilience against irreversible data corruption combined with ransomware deployment. In the simulation, if players fail to contain the attack in time, data becomes encrypted, forcing a complete rebuild from scratch.

IT companies can now choose between two dedicated attack scenarios, testing coordination, crisis management and decision-making under pressure. KIPS is available in both live (up to 100 participants) and online (up to 1,000 trainees) formats and provides detailed analytics on participants’ decisions, team coordination and benchmarking against previous sessions.

“To stay secure, organisations need a layered defence strategy that combines technology, processes and people. But investing in tools alone is not enough. Cyber resilience depends on awareness, coordination and the ability to respond effectively under pressure,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.

“Kaspersky Interactive Protection Simulation, a part of a comprehensive Security Awareness offering, helps organisations experience real-world attack scenarios in a controlled environment, strengthening decision-making, cross-team collaboration and executive understanding of cybersecurity risks. By transforming complex threats into practical learning experiences, we empower companies to build stronger, more resilient security cultures.”


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