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Speaker Abbas cautions on Nigeria’s borrowing, calls for urgent reforms

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Nigeria’s mounting debt crisis has triggered a strong warning from the Speaker of the House of Representatives, Abbas Tajudeen, who cautioned that the nation’s borrowing has breached its statutory ceiling and now poses a threat to fiscal stability.

The Speaker raised he alarm on Monday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees, held at the National Assembly in Abuja.

The conference, which drew parliamentarians, development partners, and financial experts from across West Africa, is focusing on the theme “Strengthening Parliamentary Oversight of Public Debt: The Role of Finance and Public Accounts Committees.”

In his speech, Abbas expressed concerns that Nigeria’s debt had reached “a critical point” and called for urgent reforms in borrowing practices and oversight.

“As at the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, equivalent to about US$97 billion. This represents a sharp rise from N121.7 trillion the previous year, underscoring how quickly the burden has grown.

“Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 per cent, well above the statutory ceiling of 40 per cent set by our own laws.

“This is not just a budgetary concern but a structural crisis that demands urgent parliamentary attention and coordinated reform,” the Speaker warned.

The revelation comes at a time when debt servicing continues to gulp a significant portion of government revenue, leaving little room for critical spending on infrastructure, health, and education.

According to fiscal experts, Nigeria now spends more on repaying loans than on social services, raising fears that the economy may be edging toward unsustainable levels.

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Abbas described the breach of the debt limit as “a signal of strain on fiscal sustainability,” stressing the need for “stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”

He drew parallels with the wider African debt landscape, where several countries are trapped in spiralling debt service obligations.

To mitigate fiscal risks, the Speaker announced that Nigeria is ready to champion the establishment of a West African Parliamentary Debt Oversight Framework under WAAPAC.

The framework, he explained, would harmonise debt reporting across the sub-region, set transparency standards, and empower parliaments with timely data to scrutinise borrowing practices.

In addition, he unveiled plans for a regional capacity-building programme for Public Accounts and Finance Committees, designed to equip members with modern tools for debt sustainability analysis and fiscal risk assessment.

While acknowledging that borrowing remains an important tool for development, Abbas warned against reckless debt accumulation.

“Borrowing should support infrastructure, health, education, and industries that create jobs and reduce poverty. Reckless debt that fuels consumption or corruption must be exposed and rejected.

“Oversight is not just about figures but about the lives and futures behind those figures,” he stressed.

The Speaker further reiterated the 10th House’s commitment to transparency and accountability in public finance. He said under its Open Parliament Policy, all major borrowing proposals would be subjected to public hearings, while simplified debt reports would be made available to citizens.

Abbas urged participants to approach deliberations with dedication, noting that the resolutions would play a vital role in strengthening fiscal responsibility and accountability across the continent.

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Ramadan: Adamawa gov relaxes night-time restriction on tricycles

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The Governor of Adamawa State, Ahmadu Fintiri, has approved a review of the existing restriction on the operations of commercial tricycles, known as Keke NAPEP, in parts of the state for the 2026 Ramadan period.

This was disclosed in a statement issued by the Chief Press Secretary to the Governor, Humwashi Wonosikou, on Friday.

The statement said the restriction, which previously ran from 10pm to 5am would now commence an hour later.

“Under the revised directive, the restriction which previously ran from 10pm to 5am will now commence from 11p to 5am daily throughout the 2026 Ramadan period.

“The review takes immediate effect,” the statement read.

The government explained that the adjustment was introduced to ease movement for Muslim faithful during the holy month.

“The adjustment is intended to allow Muslim faithful attend late-night tafsir sessions with ease during the holy month,” it added.

The statement recalled that the Adamawa State Government had, in February 2021, imposed restrictions on the movement of tricycles and motorcycles through the Adamawa State Restriction of Movement of Tricycles/Motorcycles Executive Order No. 1 of 2021, as part of measures to strengthen public safety and security.

It noted that the latest review reflects the administration’s effort to balance religious observance with security considerations.

“The present review is therefore informed by the Government’s commitment to supporting religious observance, while maintaining the gains recorded in peace and security across the state,” the statement said.

Fintiri also directed security agencies to intensify patrols across the affected local government areas.

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“Governor Fintiri has accordingly directed security agencies to intensify patrols, particularly within Yola North, Yola South and Girei, through the deployment of additional personnel to safeguard lives and property.

“He warned that any breach of the law will be dealt with decisively,” the statement added.

The governor further appealed to residents to act responsibly and avoid actions that could undermine the peace and stability currently enjoyed in the state.

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DSS to arraign El-Rufai Feb 25 over alleged cybercrime, security breach

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The Department of State Services (DSS) will on February 25 arraign former Gov. Nasir El-Rufai of Kaduna State on alleged cybercrime and breach of national security

LIB had earlier reported that the DSS on Monday, February 16, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.

According to the court papers, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, “admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.”

The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

In count two, the ex-governor was alleged to have, on February 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, stated during the interview that he knew and related with a certain individual who unlawfully intercepted the phone communications of the NSA, without reporting the said individual to relevant security agencies.

The offence is said to be contrary to and punishable under Section 27(b) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

Count three alleged that El-Rufai and others still at large, sometime in 2026, in Abuja, did use technical equipment or systems which compromised public safety and national security and instilled reasonable apprehension of insecurity among Nigerians by unlawfully intercepting the NSA’s phone communications.

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The DSS said the ex-governor by his own comment during the live interview committed an offence contrary to and punishable under Section 131(2) Nigerian Communications Act 2003.”

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Mob besieges Benin FRSC office

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The Corps Marshal of the Federal Road Safety Corps, Malam Shehu Mohammed, has praised the Nigerian Army and Nigeria Police Force for their swift and decisive response during the recent attack on the Benin Toll Gate Unit Command Office.

The attack occurred on Thursday at the RS5.12 Benin Toll Gate Unit on the Benin–Lagos Expressway, following a crash involving two trucks, the statement said.

One truck driver died in the accident, while FRSC personnel sustained critical injuries, with one officer later succumbing despite urgent medical attention.

“In the aftermath of the crash, an angry mob besieged and vandalised the Unit Command formation. However, the prompt response by security agencies helped to restore order and prevent further escalation,” Mohammed said in a statement issued on Friday by the FRSC spokesman, Olusegun Ogungbemide, in Abuja.

The Corps Marshal condemned the attack on FRSC personnel and facilities as “deeply regrettable and unacceptable,” emphasising that the operatives were on lawful duty to save lives.

He also commiserated with the families of the deceased driver, the fallen officer, and the entire FRSC workforce.

Mohammed has ordered a comprehensive investigation into both the immediate and underlying causes of the crash and the circumstances that led to the mob action.

He assured the public that anyone found culpable would be brought to justice.

The FRSC boss reaffirmed the Corps’ commitment to ensuring safer roads for all Nigerians and called on the public to remain calm, law-abiding, and supportive of its activities.

(NAN)

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