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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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Autopsy reveals what led to singer Destiny Boy’s death

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The cause of death of Nigerian singer Afeez Adesina, popularly known as Destiny Boy, has been revealed months after his passing.

According to P.M News, the 22-year-old artiste, who died on January 17, 2026, had sparked speculation at the time, especially after videos from the scene circulated online.

While his family initially stated that he had been dealing with a long-term health condition that caused seizures, new findings have provided more clarity.

According to the Ogun State Police Command, an autopsy carried out by the State Criminal Investigation Department showed harmful levels of tramadol and methamphetamine in his system.

The report concluded that the cause of death was aspiration pneumonitis resulting from the ingestion of these substances.

Police spokesperson, DSP Babaseyi Oluseyi, also confirmed that one suspect has been arrested in connection with the case, with investigations still ongoing.

Destiny Boy rose to fame in 2019 after his Fuji-style cover of Davido’s song If gained attention online.

He is survived by his partner, Iremide, and their child, whom they welcomed in November 2024.

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Cuba releases more than 2,000 prisoners amid US pressure

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The Cuban government on Saturday morning, April 3, announced plans to release 2,010 prisoners in what it described as a “humanitarian gesture,” as pressure from the United States continues to mount.

The announcement was shared by the Cuban Embassy in the US on social media, with officials linking the move to the observance of Holy Week rather than directly referencing tensions with Washington.

According to the government, those set to be released include foreign nationals, Cuban citizens living abroad, young people, women and older adults. Authorities said the decision was based on factors such as good conduct, time already served, the nature of the offenses and the health condition of the inmates.

No timeline was provided for when the prisoners will be released, and officials did not disclose the specific crimes committed by those affected. It also remains unclear whether individuals convicted during protests are among those included.

While Cuban authorities deny holding political prisoners, rights group Prisoners Defended has reported that more than 1,200 people are detained on political grounds.

The move comes as the administration of Donald Trump intensifies economic pressure on the island, including an effective oil blockade that has contributed to fuel shortages and economic strain.

Washington has pushed for political and economic reforms in Cuba, although details of those demands have not been made fully public. The US has also signaled that sanctions relief would depend on significant changes by the Cuban government.

US Secretary of State Marco Rubio has previously stated that Cuba would need to undergo major reforms to qualify for any easing of sanctions, stressing that the country’s economic challenges are tied to its political system.

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PHOTOS: Man hospitalised after sustaining injuries from beatings while portraying Jesus Christ during Good Friday procession

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A second-year law student at Kampala International University, Dennis Zziwa, sustained injuries while portraying Jesus Christ during a Good Friday Way of the Cross procession at Our Lady of Africa Church, Mbuya, Uganda.

Dennis sustained injuries from the beatings he received during the intense scenes of the reenactment.

He received immediate first aid from Red Cross responders.

He was later taken to Lamone Health Center in Luzira for further medical attention.

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