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₦7.7 Trillion Debt Interest Warning: Federal Government Challenges World Bank.

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The Federal Government has defended Nigeria’s debt position, insisting that rising revenue and ongoing economic reforms demonstrate progress despite concerns raised by the World Bank over the ₦7.7 trillion spent on interest payments in the first half of 2026.....KINDLY READ THE FULL STORY HERE▶

The government rejected the World Bank’s assessment that interest payments amounted to 124 per cent of federal revenue between January and June 2026, describing the figure as misleading because it relied on incomplete revenue data and included debt obligations serviced on behalf of state governments.

The Federal Ministry of Finance outlined its position in a statement issued on Sunday and shared on X by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

The response followed the World Bank’s October 2026 Nigeria Development Update, which raised concerns about the country’s growing debt-servicing burden.

According to the ministry, Nigeria’s financial position has improved because government revenue is increasing at a faster rate than interest expenses.

The ministry identified three reasons it believes the World Bank’s 124 per cent figure should not be used in isolation to assess the country’s debt sustainability.

First, it argued that the interest payments included obligations the Federal Government services on behalf of other levels of government, including external loans obtained by state governments. Comparing these payments with federal revenue alone, it said, creates a misleading picture because the figures cover different levels of government.

Second, the ministry maintained that the revenue figure used in the calculation was incomplete because it excluded funds already earned by government agencies and enterprises but not yet remitted to the Treasury.

Third, it explained that some taxes are collected predominantly in the second half of the year because of statutory payment schedules, making first-half revenue an incomplete basis for evaluating the government’s annual debt obligations.

The ministry noted that the interest-to-revenue ratio declined from 156 per cent in the first half of 2025 to 124 per cent during the corresponding period in 2026.

It added that Nigeria’s full-year debt-service-to-revenue ratio stood below 60 per cent in 2025, compared with 97 per cent before the current administration introduced its economic reforms.

The Finance Ministry disclosed that Federal Government revenue rose by 72 per cent between the first half of 2025 and the first half of 2026.

According to the figures released, revenue increased from ₦3.6 trillion to ₦6.2 trillion during the period.

Interest payments, meanwhile, rose by 38 per cent, from ₦5.6 trillion to ₦7.7 trillion.

The ministry argued that the figures demonstrate that revenue is growing considerably faster than the cost of servicing debt.

It also stated that the difference between interest payments and revenue narrowed from ₦2 trillion in the first half of 2025 to ₦1.5 trillion in the first half of 2026.

The statement read, “Revenue is therefore growing almost twice as fast as interest costs. As a result, the interest-to-revenue ratio fell by 32 percentage points in a single year, from 156% to 124%.”

The ministry described the development as evidence that the government’s economic reforms were yielding results rather than an indication that the country’s finances were in distress.

The Finance Ministry further argued that Nigeria’s debt sustainability should be assessed using full-year figures rather than data covering only six months.

It cited the World Bank’s projection that Nigeria’s total debt service, covering both interest and principal repayments, would account for 46 per cent of revenue for the full year in 2026.

The ministry described the projection as a more appropriate measure for evaluating the country’s debt position.

It also maintained that all Federal Government borrowing remained within the limits approved by the National Assembly under the 2026 Appropriation Act and the approved borrowing plan.

According to the ministry, the government’s borrowing activities comply with the Fiscal Responsibility Act 2007 and the Debt Management Office (Establishment) Act 2003.

It added that information on government borrowing is regularly published by the Debt Management Office.

While acknowledging the importance of public scrutiny of government finances, the ministry urged analysts and commentators to assess the figures within their proper context.

It advised those evaluating Nigeria’s debt position to compare figures covering the same level of government and account for the timing of revenue collection before reaching conclusions about the country’s fiscal health.

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Setback For Nigeria As Super Falcons Slide Seven Places In FIFA Rankings.

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The Super Falcons of Nigeria have dropped seven places to 43rd in the latest FIFA Women’s World Rankings following a disappointing outing at the 2026 Women’s Africa Cup of Nations (WAFCON) in Morocco.....KINDLY READ THE FULL STORY HERE▶

The 10-time African champions slipped from 36th position after losing 83.54 points in the latest ranking update.

Nigeria’s decline followed a difficult campaign at the continental tournament, where they suffered defeats to Malawi in their opening group match and Cameroon.

The Falcons’ struggles continued in the play-offs, where they lost 2-1 to South Africa, missing out on qualification for the 2027 FIFA Women’s World Cup.

Despite their drop in the global rankings, Nigeria remain Africa’s highest-ranked women’s national team, ahead of South Africa, who occupy 52nd place worldwide.

Cameroon are ranked 62nd, while Morocco and Ghana occupy 64th and 65th positions, respectively.

Malawi recorded the biggest improvement in the latest rankings, climbing 49 places following an impressive WAFCON campaign that saw them reach the final.

At the global level, Spain retained the top position, followed by the United States, Germany, England and Japan. The top five teams remained unchanged.

The next edition of the FIFA Women’s World Rankings is scheduled to be released on December 7, 2026.

Meanwhile, Super Falcons interim head coach Austin Eguavoen has appealed for patience as the team prepare for a crucial two-legged Olympic qualifying tie against Morocco.

Nigeria advanced to the third round of the qualifiers after defeating Comoros 5-0 in Ikenne on October 13, securing a comprehensive 7-0 aggregate victory.

The Falcons are scheduled to face Morocco between February 23 and March 6, 2027, with a place in the subsequent qualifying round at stake.

Eguavoen said the coaching crew would consider bringing back players who missed the recent qualifying matches while maintaining stability within the squad.

“Going forward, we expect to meet tougher opposition, no doubt about that,” he said.

“We have the quality, we have the personnel, we have the support.”

The coach stressed that the technical crew would need to strike a balance between making squad adjustments and maintaining consistency as Nigeria pursue one of Africa’s two qualification slots for the 2028 Olympic Games in Los Angeles

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No One Twisted Your Message, We Know What We Heard – Presidency Tackles Peter Obi.

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The Presidency has maintained that the statement made by the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, regarding financial support from Nigerians living abroad to their relatives at home was not misrepresented.....KINDLY READ THE FULL STORY HERE▶

The response came from Dada Olusegun, Special Assistant to President Bola Tinubu on Social Media, on Tuesday, shortly after Obi denied telling Nigerians in the diaspora to stop sending money to their loved ones in Nigeria.

Recall that Obi made the remarks during a town hall meeting with supporters in the United Kingdom, where he urged Nigerians abroad to encourage relatives seeking financial assistance to support candidates committed to good governance.

“You have people at home in Nigeria today who are begging you for money. Tell them no! Let’s put somebody who has proven to be productive,” Obi had said.

His remarks subsequently sparked controversy, with some interpreting them as a call for Nigerians living abroad to stop sending financial assistance to their families back home.

However, Obi issued a statement on Tuesday, insisting that his message had been distorted. He explained that although his media office had already released a clarification, he considered it necessary to personally address what he described as the misrepresentation of his comments by political opponents.

Reacting, Olusegun rejected Obi’s explanation, arguing that the original remarks were clear and had not been twisted. He also accused the opposition politician of adopting divisive tactics in his political campaign.

The presidential aide maintained that such an approach would not succeed in the 2027 general election, just as he claimed it failed to deliver victory for Obi in 2023.

In his response, Olusegun wrote:

“Trying to claim ‘MY MESSAGE HAS BEEN TWISTED’ won’t change what we all heard you say on video.

“No one twisted your message, certainly not. Your message, asking Nigerians abroad to stop sending money to their loved ones at home, is clear as day and a representation of the vileness in your heart and the hatred you harbour for Nigerians, whose only offence was rejecting you at the polls.

“You have chosen to go on another divisive route, which you are known for, for your campaign. You have set Christians against Muslims, Southerners against Northerners, children against parents, Nigerians against President Tinubu, and have now graduated to setting Nigerians abroad against Nigerians at home. Even by your standards, this is ridiculously low!

“You seek to govern the people you hate. You do not care about evil deeds as long as they advance your political ambitions.

“Unfortunately for you, Nigerians are wise and sophisticated people; they can read between the lines. Your divisive rhetoric did not work in 2023, and it certainly will not work in 2027.

“By the way, this has now been added to your long, inexhaustible list of flip-flopping, contradictory statements, lies, and denials of past statements and promises.

“Nigerians are watching and taking stock!” the presidential aide stated.

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“Where Are The Killers?” Sowore Demands Arrest, Prosecution Of Lekki Toll Gate Shooters.

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The presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has called for the identification of those responsible for the shootings at the Lekki Toll Gate during the #EndSARS protests in October 2020.....KINDLY READ THE FULL STORY HERE▶

Sowore made the demand in a post on his X account on Tuesday, marking the sixth anniversary of the protests. He called for the arrest and prosecution of those implicated in the incident, questioning why justice had yet to be delivered to the victims six years later.

“Where are the killers? Who ordered the shootings at LekkiTollGate? Who has been prosecuted?” he wrote.

The AAC presidential candidate also called for investigations into the alleged roles of Lagos State Governor Babajide Sanwo-Olu, military and police commanders, and other individuals he claimed were connected to the incident.

He further raised questions about allegations that the CCTV camera at the toll gate had been removed before the shootings, urging authorities to investigate the circumstances surrounding the claim.

Sowore maintained that the #EndSARS movement was about more than the demand to disband the Special Anti-Robbery Squad (SARS). He described the protests as a broader resistance against police brutality, torture, extortion and extrajudicial killings.

The activist also pledged that, if elected president in 2027, his administration would reopen investigations into the Lekki Toll Gate incident.

He said such an investigation would seek to establish the chain of command and ensure that anyone found culpable was prosecuted, irrespective of their position, rank or political connections.

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