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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 Federal High Court in Abuja on Monday adjourned the suit filed by the Senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, to March 25, 2025.
The adjournment followed a submission by the respondents, who informed the court that they had not been served with the necessary documents.
Akpoti-Uduaghan had approached the Federal High Court, seeking an order restraining the Senate Committee on Ethics and Privileges from investigating her.
Treat my wife with respect, Natasha’s husband tells Akpabio
Delivering a ruling on the application on March 5, 2025, the trial judge, Justice Obiora Egwuatu, barred the committee from proceeding with the probe.
Details shortly…
The Delta State Police Command has arrested two suspected gun runners and recovered a cache of firearms and ammunition.
The arrests were made during stop-and-search operations along the Warri/Benin Road and Asaba/Benin Expressway on separate dates.
On 3rd March, operatives intercepted a Toyota Camry driven by one Peter James, 55, from Akwa Ibom State.
Upon searching the vehicle, they discovered three AK-47 rifles, 2,080 rounds of 7.62mm AK-47 ammunition, and 1,040 rounds of 5.1mm ammunition.
State Police Public Relations Officer, SP Bright Edafe, who confirmed this in a statement made available to newsmen in Warri on Monday, said that the suspect was arrested near Western Delta University, Oghara, after operatives intercepted a blue Toyota Camry with registration number PHC 257 NT.
Police arrest 2 suspected gun runners in Delta, recover arms
Police arrest 2 suspected gun runners in Delta, recover arms
“The driver was asked to open the trunk of the vehicle, during which it was observed that the trunk of the said Camry, popularly known as ‘big daddy,’ was unusually small. This aroused the suspicion of the men who were convinced that the vehicle had been modified for malicious purpose.
“The policemen then proceeded and removed the seat of the vehicle, only to discover three (3) AK-47 rifles, Two Thousand and Eighty (2,080) rounds of 7.62 mm AK-47 ammunition, one thousand and forty (1,040) rounds of 51mm ammunition loaded in four boxes.
“The exhibit has been recovered, the suspect is in custody, and investigation is ongoing,” he added.
In a separate operation on 6th March, police arrested Yahuza Magaji, 69, and Abba Sani, 17, from Kaduna State, and recovered seven pump-action guns and 1,600 rounds of live cartridges.
Edafe said that operatives attached to Dragon Patrol Team 02 arrested the suspects while on stop-and-search duty along the Asaba/Benin Expressway by the National Open University, Onicha-Ugbo.
He said that police had intercepted a navy blue Sharon space bus with registration number DKA 408 LM, driven by one Yahuza Magaji, in the company of one Abba Sani, both of Lere LGA in Kaduna State.
“They disguised as traders transporting palm oil and garri, but the police, who insisted on a thorough search of the vehicle, recovered seven (7) pump action guns, five (5) cartons containing one thousand six hundred (1,600) rounds of live cartridges concealed under the back seat of the vehicle.
“Preliminary investigation revealed that suspects bought the arms from Onitsha and were transporting them to Kaduna State. The suspects are in custody, and investigation is ongoing,” he added.
Commenting on the development, the State Commissioner of Police, CP Olufemi Abaniwonda, expressed delight that the marching orders he gave to all tactical commanders, area commanders, and DPOs to up their game were yielding results.
“We are determined to flush out all criminal elements in the state,” said CP Abaniwonda.
“I commend the effort and determination of our men for going the extra mile to detect the hidden firearms,” he said.
The Rivers State House of Assembly has issued a warrant for the Chairman of the Rivers State Independent Electoral Commission (RSIEC), Justice Adolphus Enebeli (rtd), to appear before it.
The Martins Amaewhule-led Assembly issued the arrest warrant on Monday during plenary, after the expiration of its 72-hour ultimatum for the electoral chief to appear before the House.
Enebeli had fixed August 9, 2025, to conduct a fresh Local Government (LG) poll in the state following a Supreme Court verdict that annulled the October 5, 2024 local government poll conducted in the state.
The Amaewhule-led Assembly had vowed to probe the conduct of Enebeli regarding the conduct of the annulled LG poll last year.
Over the weekend, Rivers State Governor, Siminalayi Fubara, invited members of the Assembly to a dialogue on the implementation the Supreme Court’s verdict.
The Supreme Court had also barred the Central Bank of Nigeria (CBN), the Accountant General of the Federation and other agencies from releasing funds to the government of Rivers State until it purges itself of what the court described as flagrant disobedience to court orders.
In the judgment delivered by Justice Emmanuel Akomaye, the five-man panel of the court had unanimously dismissed the cross-appeal filed by Fubara challenging the validity of the House of Assembly presided over by Amaewhule as the Speaker.
In dismissing Fubara’s appeal, the court ordered Amaewhule to resume sitting immediately with other elected members of the Rivers State House of Assembly.