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Nigeria’s debt N39.6 trillion and growing- DMO

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Nigeria’s debt N39.6 trillion and growing- DMO

Nigeria’s debt N39.6 trillion and growing- DMO

By: Michael Mike

The Debt Management Office (DMO) said on Thursday that the nation’s public debt has grown to US$95.779 billion or N39.556 trillion at the end of last year.

Director-General of DMO, Ms. Patience  Oniha during a media briefing in Abuja said the amount represents the total external and domestic debts of the federal government, 36 state governments and the Federal Capital Territory (FCT).

She noted that the comparable figure for December 31, 2020 was US$86.392 billion or N32.815 trillion.

She also disclosed that the public debt stock for December 31, 2021 includes new borrowings by the federal government and the sub-nationals, noting that for the federal government the 2021 appropriation and supplementary acts included total new borrowings (from domestic and external sources) of N5.489 trillion to part finance the deficit.

Oniha said borrowings for this purpose and disbursements by multi-lateral and bi-lateral creditors account for a significant portion of the increase in the debt stock, adding that increases were also recorded in the debt stock of the states and the FCT.

She revealed that borrowings were raised from diverse sources, primarily through the issuances of the Eurobonds, Sovereign Sukuk and FGN Bonds, which were utilized to finance capital projects and support economic recovery.

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She said: “With the total debt stock to gross domestic product (GDP) as at December 31, 2021 of 22.47%, the debt to GDP ratio still remains within Nigeria’s self-imposed limit of 40%. 

“This ratio is prudent when compared to the 55% limit advised by the World Babb and the International Monetary Fund (IMF) for countries in Nigeria’s peer group, as well as, ECOWAS Convergence Ratio of 70%.”

She however noted that the federal government is mindful of the relatively high Debt-to-Revenue Ratio and has initiated various measures to increase revenues through the Strategic Revenue Growth Initiative and the Introduction of Finance Acts since 2019.

She corrected the erroneous belief that the present administration was responsible for the rising debt profile, insisting that this was the accumulation of years of budget deficits and the need to borrow to finance the deficit budgets.

She lamented that we have not had budget surplus since way back 2010 even when the price of oil revenue was on the high.

She explained that many countries due largely to COVID-19 pandemic fell into recession and had to borrow to pull out of this, insisting that Nigeria was no exception to recession and need to get loan to finance her way to succession.

Nigeria’s debt N39.6 trillion and growing- DMO

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UK–Nigeria Trade Mission Turns State Visit Momentum into High-Impact Commercial Deals Across Key Growth Sectors

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UK–Nigeria Trade Mission Turns State Visit Momentum into High-Impact Commercial Deals Across Key Growth Sectors

By: Michael Mike

The United Kingdom has concluded its first trade and investment mission to Nigeria since the recent State Visit, reinforcing efforts to convert high-level political commitments into concrete commercial outcomes for businesses in both countries.

Organised by the UK Department for Business and Trade and delivered by DMA Invest in partnership with the Nigeria Investment Promotion Commission (NIPC), the two-day mission brought together 43 delegates from 30 British companies. The delegation engaged Nigerian counterparts to explore partnerships and investment opportunities across key sectors of mutual interest.

Bilateral trade between both countries has now reached a record £8.1 billion, with Nigeria remaining the UK’s largest export market in Africa. The mission underscored where UK expertise can support Nigeria’s ongoing economic reforms, with discussions spanning infrastructure, energy and power, water and environmental solutions, agriculture, financial and professional services, logistics and supply chains, standards and certification, as well as technology sectors including education, aviation and communications.

These priorities align with the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), reflecting areas where UK capabilities and long-term partnership models match Nigeria’s evolving economic agenda.

Beyond sectoral engagement, the mission also sought to challenge outdated perceptions of Nigeria, highlighting its transition toward a reform-driven, opportunity-rich economy with improving macroeconomic fundamentals. Both sides emphasised the importance of deeper private sector collaboration to unlock sustainable growth.

British High Commissioner to Nigeria, Dr Richard Montgomery, said the mission demonstrated a clear shift from diplomatic alignment to practical delivery.

“This trade mission is a clear signal of intent. As the first UK business delegation to Nigeria since the State Visit, it shows how we are turning strong political alignment into real commercial action and long-term partnerships for businesses in both countries,” he said.

He added that collaboration with Nigerian institutions and private sector partners reflects the UK’s long-term commitment to doing business with Nigeria.

Chief Executive Officer of the NIPC, Aisha Rimi, described the mission as a timely step toward translating diplomatic momentum into measurable investment outcomes.

“The strong interest from UK companies reflects growing confidence in Nigeria’s reforms and its position as a leading investment destination in Africa,” she said, adding that the Commission remains committed to facilitating investments that drive job creation and inclusive growth.

On his part, the Vice Chairman of Hitech and ITB, Ronald Chagoury Jr., highlighted recent infrastructure milestones, including a $1 billion ports transaction backed by UK Export Finance, describing it as evidence of strong international investor confidence in Nigeria’s reform agenda.

Chief Executive of DMA Invest, Atam Sandhu, said the mission reflects the value of structured, deal-focused engagement between governments and investors.

“Our role is to convene the right stakeholders and translate strategic alignment into practical commercial outcomes,” he said. “The depth of engagement across infrastructure, energy, finance and other sectors reflects the scale of opportunity in Nigeria.”

All 43 delegates participated in the UK–Nigeria Business Forum alongside senior government officials and private sector leaders from both countries. The forum provided a platform for direct engagement, relationship-building, and exploration of new commercial partnerships aligned with Nigeria’s reform priorities.

The mission is expected to strengthen long-term cooperation between both countries by accelerating investment discussions, deepening trust, and supporting sustainable economic growth.

UK–Nigeria Trade Mission Turns State Visit Momentum into High-Impact Commercial Deals Across Key Growth Sectors

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Human Rights Violation; NHRC, Police Collaborate to Prosecute Offenders

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Human Rights Violation; NHRC, Police Collaborate to Prosecute Offenders

By: Michael Mike

The National Human Rights Commission has joined forces with the Nigeria Police Force to confront rising concerns over human rights abuses, launching a high-level town hall engagement in the Federal Capital Territory aimed at entrenching accountability, professionalism, and rights-based policing.

The strategic dialogue brought together top police officials, human rights experts, and civil society actors to chart a clear path toward ending impunity, strengthening oversight, and restoring public trust in law enforcement institutions.

Representing the Inspector General of Police, Olatunji Disu, Chief Superintendent of Police, Head of the Police Ng CRU, CSP Anietie Okokon Iniedu,delivered a strong message of reform, acknowledging public outcry over misconduct and pledging decisive action to ensure officers operate strictly within the law.

“I have heard the cries of many Nigerians, and we are putting measures together to ensure that this administration will end impunity,” he said, stressing that internal oversight mechanisms, including the Complaints Response Unit (CRU), have been strengthened to enforce compliance with human rights standards and international obligations.

He assured that resolutions from the town hall would go beyond rhetoric, revealing plans to institutionalise the outcomes across all police formations nationwide—from Force Headquarters to divisional commands—ensuring reforms are fully implemented and sustained.

The Executive Secretary of the Commission, Tony Ojukwu, underscored the urgency of sustained collaboration, capacity building, and institutional discipline to curb violations within policing structures.

He warned that despite the existence of robust legal frameworks such as the Police Act 2020 and the Police Regulations 2025, enforcement remains weak at operational levels, allowing abuses such as unlawful detention, excessive force, and denial of legal representation to persist.

“Human rights are not ordinary privileges; they are fundamental constitutional guarantees that must guide every action of law enforcement agencies,” Ojukwu stated, emphasising that respect for these rights is the foundation of a just and civilised society.

Director of Civil and Political Rights at the Commission, Halilu Adamu, explained that the town hall was designed to move human rights compliance from theory to daily policing practice within the FCT.

He highlighted key reform priorities, including strengthening legal awareness among officers, enforcing due process in arrests and interrogations, and mandating the electronic recording of statements alongside the presence of legal counsel to eliminate coerced confessions.

Experts at the session also stressed the importance of aligning policing practices with the Administration of Criminal Justice Act (ACJA), noting that justice must not only be done but must be seen to be done without violating citizens’ rights.

Presentations at the forum exposed recurring abuses such as arbitrary arrests, prolonged detention without trial, and poor documentation of cases—practices that continue to erode public confidence and expose the system to legal consequences.

Participants called for stronger accountability mechanisms, including improved record-keeping, regular judicial inspections, and active oversight by magistrates and human rights bodies. They also emphasised detainees’ rights to healthcare, legal counsel, and communication with family members.

The town hall marks a critical step in ongoing reform efforts, with both the Commission and the Police vowing to translate dialogue into concrete action.

With growing public demand for justice and transparency, stakeholders say the success of the initiative will ultimately depend on sustained enforcement, institutional discipline, and a clear commitment to uphold the rule of law at every level of policing in Nigeria.

Human Rights Violation; NHRC, Police Collaborate to Prosecute Offenders

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FG Raises Flood Alarm Across 10 States, Urges Immediate Precautionary Measures

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FG Raises Flood Alarm Across 10 States, Urges Immediate Precautionary Measures

By: Michael Mike

The Federal Ministry of Environment has issued a fresh flood warning covering at least ten states, cautioning that sustained heavy rainfall over several days could trigger flooding in vulnerable communities.

The alert, released by the Ministry’s Erosion, Flood and Coastal Zone Management Department through the National Flood Early Warning Centre (NFEWS), indicates that parts of the country may experience intense rainfall between April 13 and April 17, 2026, with a high likelihood of overflow in low-lying and flood-prone areas.

According to the advisory, the states identified as being at risk include Adamawa, Enugu, Kaduna, Kogi, Kwara, Niger, Osun, Oyo, Plateau, and Taraba. Authorities listed specific locations within these states where flooding could occur if rainfall intensity exceeds normal thresholds.

In Adamawa State, Ganye and Gbalji are among the areas expected to be affected, while Nsukka in Enugu State also falls within the risk zone. In Kaduna State, communities such as Buruku, Kachia, Kaduna, and Kafanchan have been highlighted.

The warning further identified Ibaji in Kogi State and Bode-Sadu and Ilorin in Kwara State as vulnerable locations. In Niger State, Chanchaga, Minna, and Sarkin Pawa were listed, while Osun State communities including Ilesa, Iragbiji, Oshogbo, and Otan Ayegbaju may also face flooding.

A significant number of areas in Oyo State, particularly within Ibadan, were mentioned in the forecast. These include Apata, Bodija, Challenge, Eleyele, Moniya, Odo-Ona, and Ojoo, all of which have historically experienced drainage challenges during heavy rainfall. Bukuru in Plateau State and Serti in Taraba State were also identified as areas of concern.

The Ministry emphasized that the predicted flooding could disrupt livelihoods, damage infrastructure, and pose risks to lives if adequate precautions are not taken. It therefore urged residents in the affected areas to clear drainage systems, avoid building or residing along waterways, and prepare for possible evacuation where necessary.

Relevant stakeholders, including state governments, emergency management agencies, and local authorities, were advised to activate contingency plans and strengthen early response mechanisms. The Ministry also encouraged continuous public awareness campaigns to ensure that residents remain informed and responsive to safety directives.

In addition, the government called for collaboration and feedback from stakeholders to improve coordination and response efforts during the forecast period.

The advisory was endorsed by Usman Abdullahi Bokani, Director of the Erosion, Flood and Coastal Zone Management Department, who reiterated the importance of early preparedness in reducing the impact of natural disasters.

The latest warning underscores growing concerns over seasonal flooding in Nigeria, particularly as climate variability continues to intensify rainfall patterns and increase the frequency of extreme weather events across the country.

FG Raises Flood Alarm Across 10 States, Urges Immediate Precautionary Measures

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