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Why Nigeria’s rising debt Is scaring foreign investors away – Afe Babalola

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Renowned lawyer and founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola (SAN), has raised serious concerns over Nigeria’s increasing debt burden, warning that it is damaging the nation’s reputation and discouraging foreign investors.

Babalola made the remarks during the 2025 International Leadership Conference on Leadership, Governance, Sustainable Change, and Wealth Creation (2.0), jointly organized by ABUAD, Trinity Western University (TWU) in Vancouver, Canada, and the African Centre for Leadership, Strategy, and Development (CentreLSD).

The conference, themed “Shaping Transformational Leaders for a Changing World: Tackling Insecurity, Governance and Development,” focused on addressing Nigeria’s growing challenges in leadership and governance.

Babalola described the theme as “timely and relevant,” noting that Nigeria’s financial situation has reached a critical point.

He lamented that the country’s rising debt profile is driving away investors and putting pressure on local banks.

“Our records show that Nigeria is now a big debtor nation, with total public debt of ₦152.4 trillion, or about $99.7 billion,” he said. “As a result, many foreign companies are unwilling to invest here.

Even banks are complaining that the Central Bank of Nigeria (CBN) cannot honour government promissory notes because the Federal Government is struggling to pay its debts.”

The elder statesman urged the government to adopt urgent fiscal reforms and responsible economic management to restore investor confidence and ensure sustainable growth.

Babalola also reminded leaders of their constitutional duty, quoting Section 14 of the Nigerian Constitution:

“The security and welfare of the people shall be the primary purpose of government. Sovereignty belongs to the people of Nigeria, from whom government derives its powers and authority.”
Delivering a lecture titled

“Transformational Leadership in an Insecure and Disruptive Era: Building Ethical, Resilient and Impactful Leaders for Africa,” Dr. Otive Igbuzor, founding Executive Director of CentreLSD, said Nigeria and Africa need a new generation of leaders who can challenge old systems and drive innovation.

According to Igbuzor, transformational leadership is key to fighting corruption, unemployment, poor governance, gender inequality, and environmental decline.

He called on the government to make leadership training a compulsory part of education in schools and universities.

In her remarks, ABUAD Vice-Chancellor, Professor Smaranda Olarinde, described the conference as timely, stressing the importance of collaboration between local and international institutions to tackle insecurity, hunger, poverty, infrastructure decay, and economic instability.

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VIDEO: Defence Minister backs Naval officer A.M Yarima over viral clash with Wike

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Minister of Defence, Mohammed Badaru, has praised Lieutenant Yarima, the naval officer involved in a confrontation with the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over a disputed land in Abuja.

The property is said to belong to former Chief of Naval Staff, Vice Admiral Awwal Gambo.

Government Promises Protection for Officers on Lawful Duty

Addressing journalists at the National Defence College, Abuja, during a press briefing on the 2026 Armed Forces Remembrance Celebration, Badaru reaffirmed the Federal Government’s commitment to defending military personnel performing their lawful duties.

He said, “At the Ministry and across the Armed Forces, we will always protect our officers performing their duties lawfully. Lieutenant Yarima has acted commendably, and we will ensure his safety.

“We are thoroughly reviewing this matter, and I assure you that any officer performing legitimate duties will receive full protection.”

Viral Video Sparks Public Reactions

Badaru’s comments come after a viral video captured a heated argument between Wike and a naval officer at a construction site in Gaduwa District, Abuja.

In the video, Wike accused the officer of blocking his access to the site, stressing that no one is above the law. The officer, however, maintained that he was following orders from his superiors.

The incident has since generated widespread public debate, with many Nigerians commending the officer’s calmness during the encounter.

Source: GISTREEL

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Retired police officer offers viral navy officer, Yerima part of his pension

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‎A retired Deputy Superintendent of Police, Sunny Anyanwu, has made a generous offer to Lieutenant Ahmad Yerima, the viral naval officer who stood up to FCT Minister, Nyesom Wike.

‎Notably, Ahmad Yerima has been making headlines following a viral video showing a heated confrontation with FCT Minister Nyesom Wike.

Lieutenant A.M. Yerima

‎Retired Officer Offers His Pension To Lieutenant Ahmad Yerima

‎In his Facebook post, the retired Deputy Superintendent of Police, Sunny Anyanwu, revealed he earns a monthly pension of N49,000, and offered N5,000 to the naval officer.

‎Furthermore, he stressed that Lieutenant Ahmad Yerima should be regarded as a British-trained officer.

‎Read Post Below…..

Out of my #49k monthly pension, I have decided to offer #5K to the Naval officer that had open confrontation with the FCT minister WIKE.

‎ The officer could be regarded as a British trained officer. I will also advice President Tinubu to honor him with the award of Commander of the Federal Republic (CFR).

‎ His Bank details should be forwarded through his department pls. This is the type of insult I took for 35yrs and gets #49k monthly pension.

See below…..

Source: GISTREEL

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Wike’s altercation with the Naval officer is a typical example coming out of a disgraced country – Peter Obi

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The presidential candidate of the Labour Party in the 2023 general elections, Peter Obi, has described the recent altercation between the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and a naval officer in Abuja as an embarrassment coming from a ‘disgraced nation.’

In a statement shared on social media, Obi said the altercation was “yet another unfortunate reflection of the growing institutional disorder in our country.”

According to him, what should have been a routine civic encounter degenerated into “a public spectacle” that exposes deeper governance problems.

He wrote;

‘’Wike versus Naval Officer: A Lesson for National Reflection

The recent needless altercation between the FCT Minister, HE, Barr. Nyesom Wike and a Naval officer are yet another unfortunate reflection of the growing institutional disorder in our country. What should ordinarily be a routine civic encounter has, once again, become a national embarrassment— a typical example coming out of a ‘disgraced country’

Beyond the personalities involved, this incident raises fundamental questions that demand honest national reflection:

Should the military be used for purely civil operations? If proper protocols were in place, should a Minister’s intervention in such a matter be in such an indecorous manner?

Shouldn’t there be clear boundaries between administrative authority and the duties of security agencies?

What does this say about our respect for institutions and the separation of powers? Why are our men and women in uniform so often drawn into civilian disputes? Why has the culture of due process and civility given way to public spectacle and confrontation? If our institutions worked as they should, would tempers flare in situations that should be handled by clear procedure and hierarchy? Above all, what example do incidents like this set for our younger generation about leadership, discipline, and the rule of law?

These are not just questions about one incident – they go to the very heart of how our nation is governed. When public officials act beyond institutional norms, and when security agencies are used in ways that blur their professional boundaries, we weaken both governance and public trust.

We must learn from this episode. It is time to rebuild a nation where institutions are stronger than individuals; where public office is exercised with humility and restraint; where the dignity of our uniformed officers and the rights of every citizen are upheld.

A country that aspires to greatness and feels insulted when referred to as a disgraced nation must replace the culture of impunity with the discipline of law, order, and respect for due process.

Repeatedly, I have maintained that to occupy an office and be referred to as His Excellency, Distinguished or Honourable, how we get to such an office and our character and behaviour while holding it or out of it should reflect such exemplary titles in all ramifications.”

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