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China offers more loans, no talks on debt forgiveness – FG
The Federal Government of Nigeria has said it is not discussing debt forgiveness with China, noting that Beijing is willing to lend Nigeria more money and invest more in the economy of Nigeria.
The Minister of Foreign Affairs, Yusuf Tuggar, stated this on Channels Television’s Sunday Politics programme.
Nigeria has been making proposals for debt forgiveness at the United Nations General Assembly for some years now but this hasn’t been achieved.
At the recent 79th session of the United Nations General Assembly (UNGA) in New York, President Bola Tinubu, represented by Vice President Kashim Shettima, pushed for reform of the international financial system to include “comprehensive debt relief measures, to enable sustainable financing for development”.
Asked whether any of the multilateral or bilateral loans obtained by Nigeria was cancelled at this year’s UNGA, the foreign minister said, “Under President Obasanjo, we benefited from debt forgiveness. It’s a process; it’s not just an event, it takes time but you have to be there, you have to be present, and then these things happen, they don’t happen overnight.
“The effect that we felt the last time we had debt forgiveness did not just happen with one UNGA.”
According to the Debt Management Office (DMO), Nigeria’s external debt stock as of March 2024 was N56trn ($42bn) while domestic debt stood at N65trn ($46.29).
China is one of the lenders of Nigeria. Asked whether Nigeria is in talks with Beijing for debt relief considering that Tinubu met with his Chinese counterpart, Xi Jinping of late, the minister said that was not the case.
Tuggar said, “No, that is not what we are discussing with China. And when it comes to the issue of debt, look at the debt-to-GDP ratio of Nigeria, we are not even among the critically indebted nations.
“When you talk about the debt of a developing country, Nigeria is not in that sort of precarious situation. As a matter of fact, China is prepared to lend more, China is prepared to invest more in Nigeria in terms of infrastructure development and other things.”
The minister also said Nigeria would join BRICS+, a nine-member economic and political force, at the right time.
As of December 2004, Nigeria owed a total of $36bn (which amounted to N4.8trn at the exchange rate of N134/$1). $30.84bn of the country’s external debt at the time was borrowed from the Paris Club, alongside other bilateral and multilateral facilities.
The Paris Club is an official group of money lenders formed in 1956 with headquarters in Paris, France. Nigeria borrowed funds for developmental projects from members of the group such as the UK, US, France, Germany, Japan, Netherlands and eight other countries. Some of the funds borrowed were long before Obasanjo’s administration.
President Olusegun Obasanjo’s debt relief campaign in 2005 saw the Paris Club grant Nigeria a debt relief of $18bn out of the $30.8bn outstanding. As an exit strategy, Nigeria paid Paris Club creditors $12.4bn which represented $6.3bn regularisation of arrears and a balance of $6.1bn.
The Anambra Government has imposed a one-month sanction on Blossom Fount School, Awka, for allegedly selling the position of head prefect during a student election.
This was disclosed in a statement on Saturday by the Commissioner for Education, Prof. Ngozi Chuma-Udeh.
According to the commissioner, the school reportedly demanded N5,000 from each pupil aspiring to become head prefect in the primary section.
Chuma-Udeh condemned the act, describing it as an attempt to “sell the psyche of the children to the highest bidder from the cradle.”
According to her, such practices are unacceptable under the administration of Gov. Chukwuma Soludo.
She said that an investigation was ongoing to examine the school’s broader management practices, with the possibility of further actions based on the findings.
Former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has criticised the Economic and Financial Crimes Commission (EFCC) for the arrest and continued detention of former House of Representatives member, Muhammad Kazaure, describing it as a violation of due process.
In a statement shared on his official X (formerly Twitter) account on Saturday, Atiku said Kazaure’s detention reflects a brazen disregard for the rule of law, accusing the anti-graft agency of operating beyond the limits of the Nigerian Constitution.
Atiku alleged that the EFCC is increasingly becoming a tool for political repression, citing what he called a troubling pattern of lawlessness under the current administration.
He said, “The Economic and Financial Crimes Commission has once again plunged headlong into its well-worn pattern of lawlessness, arresting and detaining citizens with brazen disregard for due process and without offering any justification for its actions.”
Atiku also referenced the recent arrest of social commentator Martins Vincent Otse, popularly known as VeryDarkMan, whose release followed intense public pressure. He suggested that Kazaure’s case fits into a broader trend of state institutions being used to silence dissenting voices.
“We witnessed this same abuse in the unlawful arrest and detention of Mr. Martins Vincent Otse, widely known as VeryDarkMan, whose release was only secured after massive public outrage and pressure.
“Now, the EFCC has targeted Hon. Muhammad Kazaure, a former member of the House of Representatives and an unapologetic critic of the gross misgovernance and failings of the Tinubu administration.
“Abducted in Kano and whisked away to Abuja, Kazaure is presently being held incommunicado, with no formal charge or explanation offered to his family, legal team, or the Nigerian people.
“Let it be stated without equivocation: even if there were legitimate grounds for arresting any citizen, such action must adhere strictly to the rule of law. The EFCC is duty-bound to publicly disclose the reasons for any arrest and must not detain individuals indefinitely under the guise of investigation.
“The Constitution of the Federal Republic of Nigeria is unequivocal on this matter—every detainee must be promptly charged to court or released. By once again trampling on the fundamental rights of a Nigerian citizen, the EFCC is entrenching itself deeper into the mire of impunity and constitutional delinquency.
“It’s deafening silence regarding the arrest of Hon. Kazaure, a man who represented the good people of Kazaure, Roni, Gwiwa, and Yankwashi federal constituency, lays bare the agency’s contempt for transparency and justice.
Suspended Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has ignited social media buzz after posting a 15-second TikTok video set to the trending song Omo Ologo — a track closely linked with President Bola Tinubu.
The video, shared on her TikTok page on May 8, shows the embattled lawmaker smiling and playfully interacting with the camera. Captioned, “Just for fun, song choked,” the post has drawn mixed reactions online, with some interpreting it as a light-hearted moment, while others suspect a deeper political undertone.
The video comes just days after the song Omo Ologo was performed live by Kano-based singer Dauda Kahutu Rarara during a dinner in Katsina State held in honour of President Tinubu, who was on a two-day working visit to assess security in the region.
The song, which blends Hausa and Yoruba, praises Tinubu as a victorious leader who has outlasted his critics.
Akpoti-Uduaghan’s TikTok post follows a series of dramatic exchanges between her and Senate President Godswill Akpabio.
The senator was suspended from the upper legislative chamber in March after accusing Akpabio of sexual harassment — an allegation that triggered heated debate in the National Assembly.
In what appeared to be a bold response to her suspension, Akpoti-Uduaghan recently posted a sarcastic apology video to Akpabio on Facebook, in which she claimed she was sorry “for the crime of maintaining dignity and self-respect.”
The post was accompanied by a short video, further fueling controversy.
Akpabio’s legal team has since approached a federal high court in Abuja, seeking an order compelling the senator to delete the post from her social media pages.
In a counter-affidavit filed by her lawyer, Jubril Okutepa (SAN), Akpoti-Uduaghan’s camp described the motion as an attempt to silence and intimidate her.
The court is expected to rule on the matter on May 12.