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Stop Buhari’s $4B Loan, SERAP Writes NASS
The Senate President Dr Ahmad Lawan, and Speaker of House of Representatives Mr Femi Gbajabiamila have been urged to reject the fresh request by President Muhammadu Buhari to borrow $4 billion and €710 million.
Socio-Economic Rights and Accountability Project (SERAP) believes Nigeria’s debt crisis is getting out of control, with N11.679 trillion committed into debt servicing between 2015 and 2020, while only N8.31 trillion was expended on capital projects.
The organisation urged the two NASS leaders to request for details of spending of all loans obtained since May 29, 2015 by the government, before acting on the new request.
President Buhari recently sought the approval of the National Assembly to borrow $4,054,476,863 billion and €710 million, on the grounds of “emerging needs.”
The request was contained in a letter dated 24 August, 2021.
In an open letter dated 18 September 2021, and signed by SERAP deputy director Kolawole Oluwadare, the organization expressed “concerns about the growing debt crisis.
It expressed concern over the lack of transparency and accountability in the spending of loans that have been obtained.
It also expressed worry on the perceived unwillingness or inability of the National Assembly to vigorously exercise its constitutional duties to check the apparently indiscriminate borrowing by the government.”
“The National Assembly should not allow the government to accumulate unsustainable levels of debt, and use the country’s scarce resources for staggering and crippling debt service payments rather than for improved access of poor and vulnerable Nigerians to basic public services and human rights.”
“Accumulation of excessive debts and unsustainable debt-servicing are inconsistent with the government’s international obligations to use the country’s maximum available resources to achieve progressively the realisation of economic and social rights, and access of Nigerians to basic public services,” SERAP said.
The letter, read in part: “The country’s public debt has mushroomed with no end in sight. The growing national debt is clearly not sustainable. There has been no serious attempt by the government to cut the cost of governance. The leadership of the National Assembly ought to stand up for Nigerians by asserting the body’s constitutional powers to ensure limits on national debt and deficits.”
“SERAP urges you to urgently propose a resolution and push for constitutional amendment on debt limit, with the intent of reducing national debt and deficits. This recommendation is entirely consistent with the constitutional oversight functions and spending powers of the National Assembly, and the country’s international anti-corruption and human rights obligations.”
“Indiscriminate borrowing has an effect on the full enjoyment of Nigerians’ economic and social rights. Spending large portion of the country’s yearly budget to service debts has limited the ability of the government to ensure access of poor and vulnerable Nigerians to minimal health care, education, clean water, and other human needs.”
“Should the National Assembly and its leadership fail to rein in government borrowing, and to ensure transparency and accountability in the spending of public loans, SERAP would consider appropriate legal action to compel the National Assembly to discharge its constitutional duties.”
“SERAP notes that if approved, the country’s debts will exceed N35 trillion. The government is also reportedly pushing the maturity of currently-secured loans to between 10 and 30 years. N11.679 trillion is reportedly committed into debt servicing, while only N8.31 trillion was expended on capital/development expenditure between 2015 and 2020.”
“Ensuring transparency and accountability in the spending of loans by the government and cutting the cost of governance would address the onerous debt servicing, and improve the ability of the government to meet the country’s international obligations to use maximum available resources to ensure the enjoyment of basic economic and social rights, such as quality healthcare and education.”
The letter was copied to chairmen of the Public Accounts Committees of the National Assembly.
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World Cup 2026: England Vs Norway Showdown Will Be Decided By Kane And Haaland – Solbakken
Norway coach Stale Solbakken said the showdown between Erling Haaland and Harry Kane will go a long way to deciding his side’s World Cup quarter-final against England on Saturday.
Haaland has struck seven times in his first four appearances at a major tournament to fire Norway to the last eight for the first time on their return to the World Cup after a 28-year absence.
Kane is just one goal behind the Manchester City striker for the tournament after taking his World Cup tally to 14 as he has helped England reach a third consecutive quarter-final.
“I think it’s Norway versus England but I don’t think it is a secret that Kane is the match winner number one for England and Haaland is the match winner number one for us,” Solbakken said at his pre-match press conference in Miami.
Solbakken’s counterpart Thomas Tuchel was recruited by the English Football Association to get a talented generation of players over the line after a series of narrow misses at major tournaments under his predecessor Gareth Southgate.
By contrast, Norway are in their first major tournament of any kind for 26 years and have exceeded expectations, most notably in stunning 2-1 win against Brazil thanks to Haaland’s late double in the last 16.
“Every game has been the most important (in history) for Norwegian football, especially in the knockout rounds, so this is the third time it is the most important game,” added Solbakken. “I feel the players are in a relaxed but competitive mood.
“I think England has more pressure than us, but we also put pressure on our performance. When the game has started I don’t think the players think so much about the pressure when it’s eleven versus eleven.”
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2027: Tinubu settles for Shettima as party beats INEC deadline
….We’re not afraid, Tinubu going in with 12m bloc votes – APC
National Chairman of the ruling All Progressives Congress APC, Prof. Nentawe Yilwatda, has declared that the party is not threatened by opposition propaganda ahead of the 2027 general election, saying President Bola Tinubu is going into the race with a bloc of over 12 million votes from party members. ExecutiveBranch
Yilwatda spoke on Friday while receiving the duly completed Independent National Electoral Commission INEC presidential nomination forms of President Tinubu, and Vice President Kashim Shettima, at a ceremony in Abuja. ExecutiveBranch
INEC has set Saturday, July 11, 2026, as the deadline for political parties to upload the names of their candidates to its nomination portal.
The submission of both forms effectively ended months of speculation about the president’s choice of running mate, as he has now settled for Shettima.
It also paved the way for the upload of Tinubu and Shettima unto the INEC portal, an action concluded on Friday night, beating the INEC deadline. ExecutiveBranch
The nomination forms were presented on behalf of President Tinubu by his Special Adviser on Political and Other Matters, Hon. Ibrahim Masari. The ceremony was attended by APC governors led by the Chairman of the Progressives Governors’ Forum and Governor of Imo State, Senator Hope Uzodinma, some governors, deputy governors, members of the National Working Committee, the APC Caucus in the National Assembly, members of the Federal Executive Council, senate and governorship candidates, and other party leaders and stakeholders.
Speaking at the event, Yilwatda said the occasion climaxed a process that began with primary elections across all levels of government, from the House of Assembly to the National Assembly to governorship and the presidential primary. “Today is a reflection of the wishes of over 12 million of our members of APC who overwhelmingly voted Mr President as their candidate to flag off the party candidature in the 2027 presidential election,” he said. ExecutiveBranch
He added that beneficiaries of the administration’s programmes, including over 1.5 million students on the student loan scheme and their families, as well as communities benefiting from new road networks across the six geopolitical zones and fertiliser support to farmers in states such as Borno and Niger, would swell the ranks of those voting for the president.
Yilwatda urged governors and supporters to mobilise and publicise the administration’s achievements, saying his own people have fact-checked claims of government projects during a visit to his community and found them accurate.
He charged Masari to convey to President Tinubu that party members would vote massively for him in the election, expressing confidence that the APC would post its highest-ever votes across the geopolitical zones.
“We are not afraid, we are not in doubt of our success, there is no shaking at all in any way, that come 2027 our victory as a party is assured and assured,” Yilwatda said.
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Governors Blamed For Insecurity Without Powers, Says Makinde
Oyo State Governor and Allied Peoples Movement (APM) presidential candidate for the 2027 election, Seyi Makinde, has lamented that state governors are routinely blamed for insecurity despite lacking constitutional authority to direct security agencies operating in their states.
Makinde made the remarks during a visit to Bauchi State Governor Bala Mohammed on Friday alongside APM National Chairman, Yusuf Dantalle.
The meeting was held behind closed doors, after which the leaders told journalists that discussions centered on security, governance and political developments ahead of the 2027 general elections.
Responding to questions on insecurity in Oyo State, Makinde said governors bear the burden of accountability for security failures without having the powers needed to tackle them effectively.
“When the Chibok incident happened, President Jonathan was blamed. People all over the world demanded that President Jonathan bring back the girls. But when incidents happen in a state today, it is the governor and the state government that are blamed, even though governors do not have the authority to direct security agencies,” he said.
The governor argued that Nigeria’s security architecture requires urgent reform to align responsibility with authority.
“We need to review our security architecture and ensure that whenever responsibility is assigned, the authority to discharge that responsibility is also given. That is exactly what we will do if the people of Nigeria place their trust in the APM,” he added.
Speaking after the meeting, Governor Mohammed said the talks also focused on strengthening a credible and constructive opposition capable of providing alternatives to Nigerians ahead of the 2027 elections.
Also speaking, APM National Chairman Yusuf Dantalle expressed confidence in the party’s prospects in the next general election. He criticized the reported repatriation of Nigerians from South Africa and what he described as the Federal Government’s inadequate response to the situation.
Dantalle also faulted recent controversies surrounding proceedings at the National Assembly and the handling of the national budget.
“It is very shameful that Nigerians are being chased out of countries like South Africa, a country whose struggle for independence Nigeria supported, while our government appears unconcerned. It is embarrassing.
“It is also unfortunate that in the National Assembly, some people are allowed to speak while others are prevented from doing so. We all saw what happened in the House of Representatives this week. Nobody will save Nigeria unless we choose to save it ourselves,” he said.
The party leaders said they would continue consultations across the country in the months ahead as political activities gather momentum ahead of the 2027 general elections.
Meanwhile, Governor Makinde has welcomed the release of the schoolchildren and teachers who were kidnapped by suspected bandits in Oriire Local Government Area of the state, describing it as a ‘big relief’.
Fifty-seven days after terrorists abducted pupils and teachers from Oriire, Oyo State, the Presidency on Friday announced that all the victims had been rescued in a coordinated security operation.
“It’s such a big relief for all of us and for those that are waiting, you know, for this past 57 days,” Makinde told Channels Television on Friday.
“I think it’s a big relief for all of us, and we’ll use the opportunity to say thank you to our service commanders, the Nigeria Police, the DSS, the military, and the high command, and of course the President, for pushing really hard to have this done.
“I think I’m just right now overjoyed, and I cannot really say much. I will talk much later when I can put my thoughts together,” he added.
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