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Nigeria’s domestic debt service hits N1.7trn Q2 2025

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Nigeria’s total domestic debt service reached ₦1.707 trillion in the second quarter of 2025 (April–June), according to new data published by the Debt Management Office (DMO).

The figures reveal that the government spent ₦1.686 trillion on interest payments across various domestic debt instruments and ₦20.14 billion on principal repayments, bringing total domestic debt servicing to ₦1,707,087,151,475.90 within the three-month period.

Debt servicing peaked in April 2025, when the country spent ₦805.31 billion, before declining to ₦423.10 billion in May and slightly rising again to ₦478.67 billion in June.

According to the DMO, the bulk of Nigeria’s domestic debt service was directed toward Federal Government Bonds (FGN Bonds) and Nigerian Treasury Bills (NTBs), a reflection of the government’s continued dependence on domestic borrowing to finance budgetary shortfalls.

The DMO also reported that Nigeria’s total domestic debt stock had climbed to ₦76.59 trillion as of mid-2025, underscoring the increasing cost of managing public debt.

Further analysis of the data shows that Nigerian Treasury Bills (NTBs) accounted for ₦537.9 billion in servicing costs for the quarter, with ₦254.12 billion spent in April, ₦169.39 billion in May, and ₦114.39 billion in June. Payments on FGN Bonds were the largest component, totaling ₦1.074 trillion, comprising ₦502.66 billion in April, ₦252.54 billion in May, and ₦318.84 billion in June.

The FGN Savings Bond (FGNSB), targeted at retail investors, required ₦3.19 billion in debt service, with consistent monthly payments between ₦930 million and ₦1.17 billion. Servicing of FGN Sukuk bonds, which comply with Islamic finance principles, totaled ₦70.72 billion, driven primarily by a ₦43.26 billion payment in June and ₦27.45 billion in April.

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Additionally, Nigeria paid ₦1.08 billion in June to service its Green Bonds, which are linked to environmental sustainability projects. The DMO data also revealed that ₦20.14 billion was disbursed as principal repayment on Naira-denominated Promissory Notes, while no payments were recorded on foreign currency promissory notes during the period.

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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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