Nigeria’s debt servicing bill climbed to about N16 trillion in 2025, underscoring mounting fiscal pressure driven largely by rising domestic borrowing costs and sustained external obligations. The figure, based on data from the Debt Management Office (DMO), represents a N2.98 trillion increase or 22.9 per cent compared to the N13.02 trillion recorded in 2024. A breakdown of the data shows that domestic debt servicing emerged as the primary driver of the increase, rising sharply to N8.61 trillion in 2025 from N5.87 trillion in the previous year — a jump of 46.6 per cent. This accounts for about 53.8 per cent…
Author: Editor
Forex traders have attributed the worsening volatility of the naira at the parallel market to fiscal indiscipline and overlapping budget cycles by the Federal Government. This is according to insights from currency traders and market operators who spoke to Nairametrics. They said that the lack of fiscal discipline weakens the naira through excessive spending and overlapping budget cycles, which create excessive naira liquidity in the system, not backed by a corresponding increase in productivity or forex inflow. They said this surplus eventually finds its way into the foreign exchange market as people and businesses convert it into dollars, a preferred…
The Academic Staff Union of Secondary Schools (ASUSS), Federal Capital Territory (FCT) Chapter, has disassociated itself from the indefinite strike declared by the FCT Wing of the Nigeria Union of Teachers (NUT). The chairman, Mr. Julius Ogundiran, told journalists in Abuja on Tuesday that ASUSS is not part of NUT and should not be involved in the ongoing strike. The NUT had on Friday directed primary and secondary school teachers in the FCT to begin an indefinite strike on Monday over unresolved welfare concerns. The union cited issues including non-implementation and payment of 25% and 35% salary increments, and non-implementation…
Some members of the Anigbiyovo Oyiwode clan of Akpawfu community in Nkanu East Council Area of Enugu State have petitioned Gov. Peter Mbah over the alleged leasing of their ancestral land for 99 years. The clan accused some individuals from the Ani Oyiwode family of attempting to lease about 300 hectares of communal land jointly owned by both families without proper consultation. They called on the governor to intervene and prevent a breakdown of law and order. Speaking at the disputed site in Ohuakpaka on Tuesday, the Vice National President of the clan, Mr. Fidelis Arum, said the move to…
Mr. Peter Obi, the 2023 Labour Party (LP) presidential candidate, on Tuesday held a closed-door meeting with the South East caucus chairmen of the African Democratic Congress (ADC). Mr. Martins Ugwu, Head of ADC’s media team in the state, said the meeting was a calculated show of regional alignment aimed at consolidating party structures. According to Ugwu, this was Obi’s first meeting with the newly elected South East chairmen of the party in Enugu. READ ALSO: Accord protesters demand INEC recognise Imumolen The gathering was linked to Obi’s aspiration to contest the forthcoming ADC presidential primary, strengthen cohesion, align leadership…
Hajj stakeholders have urged journalists selected to cover the 2026 Hajj operations to maintain professionalism for effective reporting of the spiritual exercise. The call was made on Tuesday in Abuja during the inauguration of the National Media Team by the National Hajj Commission of Nigeria (NAHCON). Islamic scholar Abdullahi Musa emphasized that members of the media team are responsible for truthfulness, justice, and fairness in their reporting. “The role of the media is to propagate the truth. As Muslims, we must always remember our faith guides our professional conduct. Report what you know to be true and avoid doubtful matters,”…
Prof. Olanrewaju Ajiboye of Lagos State University has urged a comprehensive approach to help older Nigerians age with dignity, fulfilment, and wellbeing. He made the call on Tuesday while delivering LASU’s 121st inaugural lecture at the university’s main campus in Ojo. Speaking on “That We May Age Gracefully: A Social Gerontologist’s X-ray of Later Life,” Ajiboye defined graceful ageing as embracing growing old with positivity and resilience. “Ageing should not be associated with fear or stress, but seen as a phase that can bring fulfilment and new opportunities for happiness,” he said. He stressed that graceful ageing requires deliberate actions,…
The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Directorate 2, Ikoyi, has apprehended a 55-year-old suspected fake lawyer over the alleged use of a forged Nigerian Bar Association (NBA) seal in Lagos. EFCC confirmed the arrest in a statement posted on its X handle, @officialEFCC, on Tuesday. The commission said the suspect was apprehended on Monday after investigations into allegations of impersonation and forgery. “The suspect, who operates a legal and educational consultancy in Ikorodu, came to our attention after submitting a petition dated September 22 on behalf of his clients against the management of Global West Vessel Specialist…
The Joint Admissions and Matriculation Board (JAMB) says candidates who see “No Result Yet” while checking their UTME results are underage applicants whose results have not been released. This was stated by JAMB’s Public Communication Advisor, Dr. Fabian Benjamin, on Tuesday in Abuja. According to Benjamin, the message does not indicate a technical error but reflects the status of candidates who do not yet meet the eligibility requirements for admission. He explained that only candidates who will be at least 16 years old by September 30, 2026, are eligible to register for and sit the Unified Tertiary Matriculation Examination (UTME),…
Some members of the Accord party staged a protest on Tuesday at the Independent National Electoral Commission (INEC) headquarters in Abuja, demanding immediate recognition of Prof. Christopher Imumolen as the party’s National Chairman. The protesters, carrying placards and a formal petition, urged INEC to comply with existing court orders affirming Imumolen’s leadership and update its records accordingly. Speaking during the protest, Imumolen, a former presidential candidate of the party, expressed frustration over what he called INEC’s reluctance to enforce judicial decisions. He stressed that the commission, as a regulatory body, must remain neutral and uphold the rule of law. “We…