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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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Defence Headquarters Social Media Account Hacked

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The official social media page of the Defence Headquarters (DHQ), 𝕏 to be precise, has been attacked by suspected hackers.

Naija News reports that the DHQ confirmed the development in a statement made public on Saturday, August 15, by the Director of Defence Information, Maj. General Samaila Uba.

He said the body has hence treated the incident as a cybersecurity matter, with technical measures activated to secure the account.

“The Defence Headquarters wishes to inform members of the public, the media and all stakeholders that it has detected an attempted unauthorised compromise of its official X (formerly Twitter) account.

“The incident is currently being treated as a cybersecurity matter, and appropriate technical measures have been activated to secure the account and prevent further unauthorised access,” the statement noted.

The DHQ urged members of the public to disregard any publication from the account at the moment while ensuring that efforts were ongoing to fully restore control of the official account.

“The Defence Headquarters assures the public that efforts are ongoing to fully restore control of the official account.

“Consequently, members of the public are advised to disregard any suspicious, unauthorised or misleading content that may be posted from the account during this period,” he said.

Uba stressed the DHQ’s committment to maintaining high standards of information security and ensuring that Nigerians continued to receive accurate, timely and credible information on the activities and operations of the Armed Forces of Nigeria.

“We appreciate the understanding and vigilance of the public and will provide further updates as necessary,” he said.

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He further urged Nigerians to henceforth check its verified accounts on other platforms, including Facebook under the name “Defence Headquarters Nigeria,” Instagram at @defenceheadquarters and its WhatsApp Channel, Defence Headquarters Nigeria for reliable information.

Source: naijanews.com

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Seven workers killed, 19 rescued in India tunnel accident

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At least seven workers were killed and 13 injured following a landslide that sent water and debris gushing into a tunnel under construction in north India, officials said Friday.

The incident occurred late Thursday in the Himalayan state of Uttarakhand, where workers were constructing a tunnel for a state-run hydropower project.

At least three workers are still missing, while 19 were rescued from the Tehri Hydro Development Corporation site, the State Disaster Management Authority said in a statement.

Videos shared by local authorities showed rescue workers equipped with head-mounted torches using makeshift rafts to reach the flooded section of the tunnel.

Uttarakhand has been battered by heavy monsoon rains in recent days.

Accidents on large construction sites are common in India, but ecologists say excessive development projects have led to more disasters in the fragile Himalayan areas.

Last month, 20 people working in a tunnel for another state-run hydroelectric project were killed in the remote northeastern state of Sikkim.

In 2023, 41 workers were rescued after being trapped for 17 days inside a tunnel that collapsed in Uttarakhand.

Hundreds of people have been killed in floods and landslides across the country since the start of the annual monsoon season in June.

Experts say climate change, coupled with poorly planned development, is increasing the frequency, severity, and impact of the disasters.

AFP

Source: punchng.com

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RATTAWU honours DSS DG for strategic intelligence, national security

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The Radio, Television, Theatre and Arts Workers Union has honoured the Director-General of the Department of State Services, Mr Oluwatosin Ajayi, with the ‘Golden Era Pillar of Critical and Strategic Intelligence for National Development Award’, as part of activities marking its 50th anniversary

RATTAWU conferred the award on Ajayi on Thursday at his office, when the National President of the group, Emeka Kalu, led members to a media/security-critical engagement and strategic partnership meeting for national development in Abuja.

Kalu praised the appointment of Ajayi in 2024 by President Bola Tinubu, describing it as putting “a round peg in a round hole.”

He added that the award was an initiative of the union designed to recognise individuals and institutions that had made outstanding contributions to national development, security, democracy, culture and the growth of Nigeria.

He said, “Your appointment by Mr President demonstrates the importance of placing capable Nigerians with integrity and professional competence in strategic positions of national responsibility.

“The role of the DSS in protecting Nigeria’s national interests, gathering critical intelligence and supporting national security cannot be overemphasised.

“Particularly now that this country is confronted with complex security and emerging technological challenges, appointments like yours are the best ever done by Mr President.

“That is why this union decided to honour you with the Golden Era Pillar of Critical and Strategic Intelligence for National Development Award.”

Responding, the DSS Director-General, Oluwatosin Ajayi, expressed appreciation to the leadership of RATTAWU for the honour.

Ajayi described the recognition as a significant gesture that would further encourage him and the service to remain committed to their responsibilities to the nation.

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Source: punchng.com

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