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Osinbajo Says Buhari will Inherit $60Bn Debt from Jonathan

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Osinbajo and Buhari, Vice President and President elect respectively
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Prof. Yomi Osinbajo, Vice President-elect, has said the Muhammadu Buhari-led government will inherit the worst economy ever in the history of the nation.

This is coming as Mr. Tony Blair, former British Prime Minister, asked Buhari, to overhaul the Nigerian National Petroleum Corporation (NNPC), saying it was one sure way of tackling corruption and saving more money for infrastructural development.

They both spoke at the policy dialogue themed “Implementing Change: From Vision to Reality,” organised by the Policy, Research and Strategy Directorate of the APC Presidential Campaign Council in Abuja, yesterday. –

Osinbajo put the nation’s local and international debt profile at $60 billion with a 2015 debt-serving bill of N953.6 billion, representing 21 per cent of this year’s budget.

He noted that an estimated 110 million out of the nation’s over 170 million population, were living in extreme poverty while the largest chunk of the benefits of the nation’s wealth was going into the pockets of a small percentage of the population.

According to him, the nation’s dwindling oil revenues has made it difficult for 24 of Nigeria’s 36 states to pay salaries.

He said, “We are concerned that our economy is currently in perhaps its worst moment in history. Local and international debts stand at US$ 60bn.

“Our debt servicing bill for 2015 is N953.6bn, 21 per cent of our budget. On account of severely dwindled resources, over two-thirds of the states in Nigeria owe salaries.

“Federal institutions are not in much better shape. Today, the nation borrows to fund recurrent expenditure.”

Osinbajo said the manifesto of the All Progressives Congress “offers a vision of shared prosperity and socio-economic inclusion for all Nigerians that leaves no one behind in the pursuit of a prosperous and fulfilling life.”

According to him, the goal of the policy dialogue is to interrogate the positions and propositions before a wider audience and to launch a robust public conversation on policy directions and priorities that would help inform the incoming administration’s approach in the next four years.

But Blair asked the leadership of the All Progressives Congress, to switch from its opposition status and assume the posture of head of an organisation, stressing that the days of persuasion and agitations were over.

The former Prime Minister who was represented by Mr. Peter Mandelson, former Secretary of State for Trade and Industry, explained that with the current state of affairs, the task ahead of the incoming administration was indeed a daunting one

He further stated that Buhari and the APC must be true to their words at all times, saying the action of the incoming government within the first 100 days in office would determine the kind of goodwill it would eventually have.

He also warned against politics of region especially against the zones seen to have not voted for the APC.

He said: “You, Mr. Vice President-elect and Mr. President-elect, Buhari, I must say you have the expectations and the ambitions of 173 million Nigerians in your hands. You have the hopes of an entire continent as well as the eyes of the entire world focused on your efforts. But I tell you, people are excited about what is about to happen in Nigeria. They really feel a sense of expectation of faith and hope.

“What you do in the first 100 days is important and symbolic and can also have tremendously positive repercussion for the government and throughout the country. You have a limited window of opportunity to make an impact as a government. Looking at Nigeria, I would say your vulnerability is corruption and that is not new to you, particularly around the oil sector.

“People in this country seem to be able to do things with impunity and beyond the reach of the rule of law or proper accountability and the judicial system. You can crack the NNPC nut or you can make a start on it in the first 100 days and if you do so, you would have built a very strong foundation for what you have to do in the next four years and beyond.


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Xenophobic Attacks: Anonymous Nigeria Threatens to Leak South African Stolen Data

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Anonymous Nigeria, hacktivism, known for launching coordinated cyberattacks and protests in support of socio-political movements, has threatened to leak stolen South African government data unless its demands were met.

Xenophobic Attacks: Anonymous Nigeria Threatens to Leak South African Stolen Data

The group, called for the department to stop xenophobic attacks on Nigerians in South Africa, or it will expose the data.

“They call themselves correctional services, but they can’t correct the citizens. What a shame,” the group said in its Telegram channel, MyBroadband reported.

“They killed a lot of Nigerians while the so-called correctional services watched and the ministry of justice.”

It is immediately know if Anonymous Nigeria is affiliated to Nullsec Nigeria.

But in a post on a hacker forum, Nullsec Nigeria included a link showcasing an example of data stolen from the department.

It included two bid invitation notices, bid results, a copy of the bids received, and a notice of a bid awarded in various formats.

“We’ll expose all your evil deeds for the world to see, unless this attack stops. But if not, we’ll leak everything they got,” Nullsec Nigeria said.

“Unless the government of South Africa ends these xenophobic attacks on Nigeria, we’ll expose everything about you, your evil deeds will be exposed, and the world shall know.”

MyBroadband asked the Department of Correctional Services about the claimed breach and Nullsec Nigeria’s demands, but it did not immediately respond to our questions.

Nullsec Nigeria also claimed responsibility for breaching several other entities in South Africa, while responding to an X post about its OpSouthAfrica campaign in its Telegram channel.

“I wanna express something here. I saw a report on the #OpSouthAfrica hack by Nullsec Nigeria, but it was stolen by another person,” it said. “Tag the real breachers next time.”

In a separate thread on the hacker forum, Nullsec Nigeria also claimed responsibility for breaching the Ephraim Mogale Local Municipality’s systems.

It claimed to have hacked the local government’s website and threatened to expose “everything you got for others to see how heartless you are. You killed mothers, brothers, students.”

Nullsec Nigeria said the breach and the threats were in response to the xenophobic attacks on and killing of Nigerians and the South African government’s supposed silence on the issue.

“These attacks are still going on in the dark, and we’ll expose them all. If the South African government doesn’t act first, the whole of South Africa will suffer,” it said.

“This is just a wave. These documents are about 11GB, but we decided to pull just this one.”

Its post included two images: one for a public hearing and another, a handwritten tender document for the appointment of an insurance service provider.

It also included a link to several other documents, including an old annual report, council resolutions, financial statements, and various other notices.

The Nigerian Government recently announced plans to bring citizens back to the country from South Africa after violent protests over foreign nationals in the country erupted earlier in May.

President Cyril Ramaphosa condemned the protests and criminal acts directed at foreign nationals in his From the Desk of The President weekly newsletter on 11 May 2026.

He emphasised the recent demonstrations and attacks did not represent the views of the South African people, nor the government’s policy.

“These are the acts of opportunists who are exploiting the legitimate grievances, particularly those of the poor, under the false guise of ‘community activism’,” The President said.

“Some of these people are assuming functions that only state officials are permitted to perform, including stopping people to check identification and conducting searches of private property.”

He added that such lawlessness would not be tolerated, regardless of who the perpetrators or victims were.


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World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

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World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.

Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.

Others said the country should reduce dependence on foreign loans and focus on improving local revenue.

The federal government has continued to defend its borrowing plans.

Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.

Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.


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Lagos Plans New Cybersecurity Centre

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The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.

According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.

The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.

Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.

Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.

The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.

The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.

The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.

 


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