Connect with us

latest

“Nigeria’s Debt Hits ₦149 Trillion: Civic Group Warns NASS To Wake Up Or Step Down”.

Published

on

According to Nivo News, the Civic Alliance for Fiscal Transparency (CAFT) has called on members of the National Assembly to either hold the executive accountable for the country’s rising debt profile and the delay in implementing the 2025 capital budget or resign from their positions.....KINDLY READ THE FULL STORY HERE▶

In a statement issued on Saturday, CAFT President, Ayodele Olaposi, criticised what he described as a pattern of “rubber-stamp approval” in the legislature, where foreign loans are endorsed without adequate oversight or follow-up. He argued that lawmakers owe Nigerians more than just passing budgets, insisting they must ensure that every borrowed dollar and allocated naira translates into real development.

Olaposi acknowledged that while President Bola Tinubu’s administration has recorded revenue gains through fiscal reforms and improved oil earnings, such progress remains invisible to ordinary citizens due to the sluggish rollout of the 2025 capital budget.

“It is unacceptable that after celebrating revenue growth and securing multi-billion-dollar loans, the government continues to delay the implementation of the 2025 capital projects,” Olaposi stated. “This delay not only undermines economic stability but also erodes public trust.”

Back to School in Style: Kebbi Delivers ₦2.7bn Worth of Vehicles, Supplies to Institutions

CAFT expressed concern over Nigeria’s growing debt burden, which it noted had surpassed ₦149 trillion as of mid-2025, with over 60 percent of federal revenues now dedicated to debt servicing. The group warned that without effective legislative oversight, future generations would inherit debts unaccompanied by tangible development.

“The National Assembly must not become a clearing house for reckless borrowing,” the group cautioned. “Every loan approved must be tracked, audited, and tied to measurable results. Legislators must justify the trust reposed in them or step aside for those ready to do the job.”

CAFT also urged the federal legislature to compel full transparency regarding the utilisation of foreign loans, detailing how each fund would be spent and prioritising projects that promote infrastructure, job creation, and poverty reduction. The group further proposed the release of quarterly progress reports to boost public confidence in fiscal governance.

Atiku Meets Kwankwaso In Abuja, Sparks 2027 Talks.

“Accountability is proven through visible results, not mere rhetoric. When roads are built, schools improved, and hospitals equipped, Nigerians will see that governance is working. Until then, every borrowed fund must remain under close scrutiny,” the statement read.

While commending the administration’s efforts toward non-oil revenue expansion and local industrialisation, CAFT emphasised that economic gains must translate into social progress.

“The government must not allow bureaucracy to derail its reform agenda,” the statement concluded. “We urge lawmakers to uphold their oversight duty and ensure that the 2025 budget restores confidence, drives growth, and delivers genuine development for Nigerians.”


Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Advertisement

latest

Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.

Published

on

A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The demonstrators reportedly gathered outside the parliamentary complex, expressing dissatisfaction with the leadership of the electoral body in Nigeria and demanding immediate action.

NERC Fines Eight DisCos N628m for Overbilling Unmetered Customers

They insisted that the INEC chairman should be removed, alleging concerns over credibility and trust in the electoral process as the country prepares for the next election cycle.

"Ex-General Drops Bombshell: Compulsory Military Training the Key to National Unity?"

The protest drew attention from passersby and security personnel, as the group maintained their position that electoral reforms and leadership changes were necessary to restore public confidence.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.

Published

on

Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶

In a firm reaction to recent criticism linked to Vaniti, he stated that people are focusing too much on his nightlife businesses while ignoring other aspects of his work and achievements.

"Ex-General Drops Bombshell: Compulsory Military Training the Key to National Unity?"

He stressed that his nightclub operations do not define his entire identity or professional portfolio, adding that he is involved in several other ventures beyond entertainment and hospitality.

According to him, the criticism reflects a narrow perception of what he does, and he believes his broader contributions are being overlooked.

Back to School in Style: Kebbi Delivers ₦2.7bn Worth of Vehicles, Supplies to Institutions

Sir Uyi maintained that he remains focused on his various commitments despite public scrutiny surrounding his nightlife business interests.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.

Published

on

The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶

The victims, which included candidates of the Joint Admissions and Matriculation Board (JAMB) heading to Otukpo for their examinations, have all been successfully rescued.

Speaking while briefing Governor Hyacinth Alia in Makurdi during the presentation of the freed victims, the Commissioner of Police, Ifeanyi Emenari, said the rescue operation was achieved through coordinated efforts of multiple security agencies.

He explained that five of the abducted passengers were first released, while the remaining 13 were rescued on Sunday morning without injuries.

Boko Haram Food Supplier Sentenced To Prison.

According to him, the combined pressure from security forces, supported by the state government and the Inspector-General of Police, led to the successful outcome of the operation.

Emenari further disclosed that eight suspects are currently in custody, adding that seven of them are strongly linked to the kidnapping incident, with some victims already identifying them.

He also noted that clearance operations have begun across forest areas in the state to flush out criminal groups, in line with directives from security authorities.

Governor Hyacinth Alia, while receiving the rescued passengers, expressed concern over rising cases of kidnapping in the state but welcomed the safe return of all 18 victims.

NERC Fines Eight DisCos N628m for Overbilling Unmetered Customers

He confirmed that among those rescued were eight candidates on their way to write examinations, and called on the Joint Admissions and Matriculation Board (JAMB) to reschedule the affected exams for them.

The governor assured that the state government remains committed to supporting the victims and strengthening security across Benue State, while also urging residents to provide credible information to security agencies.

He further directed the state health authorities to conduct medical evaluations for all rescued persons and promised government support for those affected.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

Trending

Copyright © 2023 NIVONEWS

×