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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.”
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“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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11th Senate to consider six-year single term for president, governors – Lawmaker

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Senate Leader, Opeyemi Bamidele, has disclosed plans to sponsor a bill seeking to introduce a single six-year tenure for presidents and governors after the 2027 general elections.

Bamidele said the proposed legislation would be among the first bills he intends to introduce when the next Senate is inaugurated, arguing that it would enable elected leaders to focus on governance rather than re-election campaigns.

Speaking during an interview with reporters in his office on Tuesday, the lawmaker said the current two-term arrangement often compels officeholders to devote a significant portion of their first term to political calculations and preparations for re-election.

“One of the first set of bills that I look forward to moving, by God’s grace, when we come back for the 11th Senate, God willing, is for a bill that will only make it possible for anyone who wants to be president of this country, or governor in any part of this country, to spend only one term of six years,” he said.

According to him, a single tenure would eliminate distractions associated with seeking a second term.

“So that you don’t even have to worry about wasting almost one and a half years of your first term thinking and struggling and looking forward to how you’ll be re-elected,” Bamidele said.

“If you know you are there for six years, only one tenure, you put in your best from day one. You know this is the only chance that you have.”

The Senate Leader acknowledged that the proposal may not enjoy universal support but maintained that lawmakers have a responsibility to initiate reforms they believe would strengthen governance.

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“That’s my opinion. It doesn’t mean everybody will agree with me. But it also does not mean that I am prevented from doing that because that has not been the law,” he said.

Bamidele stressed that laws are meant to evolve in response to changing realities and public needs.

“The essence of law, the essence of parliament, is that laws are like human beings; they grow,” he added.

The proposal, if formally introduced and passed by the National Assembly, would require constitutional amendments before it can take effect.

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Ibadan visitation: Nobody can stop me from going anywhere in Nigeria – Sheikh Gumi

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Popular Islamic cleric, Sheikh Gumi Ahmad, has broken his silence on his visitation to Ibadan late last year, amidst outrage that he was trying to Islamise Oyo State with some Northern ideologies and tenets.

Gumi stressed that nobody can stop him from visiting anywhere in the country, while maintaining that he was not invited by any Muslim group or individual in the South-West.

In a post on his Facebook page on Tuesday, he said he was in Ibadan as a representative of northern Islamic scholars.

He made this known barely a day after one of the victims of the abduction in the Oriire Local Government Area of Oyo State dismissed claims that their abductors demanded the implementation of Sharia law in the state as part of the conditions for releasing the victims.

PUNCH Online reports that the principal of Community High School, Esiele, Oyo State, Mrs Rachael Alamu, while speaking from captivity in a now-viral video, said the gunmen said they never demanded the introduction of Sharia law or a N1 billion ransom as reported in some quarters, but rather for the release of their associates currently in the custody of Nigerian authorities.

Also, the Muslim Rights Concern rejected the alleged demand for Sharia in a statement issued on Monday, describing the report as “a lie from the pit of Jahannam (hell)”.

MURIC argued that the so-called demand was inserted by enemies of Islam in the negotiation team to tarnish the image of Islam.

However, aligning with the Islamic group’s position, Gumi wrote, “I quite understand now how Islamophobia is shaping politics in SW (South-West) and why I was unnecessarily dragged into their dirty local politics.

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“I was in Ibadan, not by the invitation of any SW Muslim individual or group, but as a representative of the Coalition of Northern Muslim Ulama.

“Can anybody stop me from going anywhere in Nigeria?”

Recall that Gumi visited Ibadan on Wednesday, November 19, 2025, where he served as a special guest and speaker at the Southern Nigerian Ulama Summit.

The event took place at the University of Ibadan.

During his visit, he also attended a courtesy session alongside other prominent Southern and Northern Muslim scholars.

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Troops rescue six kidnap victims after clash with terrorists in Borno

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Troops of Operation Hadin Kai have rescued six kidnap victims following a confrontation with terrorists along the Delwa–Komala road in Borno State.

The incident occurred at about 17:58 hours on June 6, 2026 when troops at Forward Operating Base Molai received intelligence that armed terrorists had intercepted and abducted civilians travelling along the route.

Troops were immediately mobilised on a fighting patrol to the location and reportedly made contact with the terrorists upon arrival in the general area.

According to the sources, the armed group abandoned the victims and fled into nearby bushes following the troops’ approach.

The victims were successfully rescued unharmed and comprised four adult males, one adult female and one minor.

They were said to have been secured and moved to a safer location for further assessment and necessary documentation.

The military noted that the general security situation in the theatre remains calm but unpredictable, adding that troops continue to maintain aggressive patrols and clearance operations across vulnerable areas.

It further stated that troops’ morale and operational effectiveness remain satisfactory as operations continue to deny terrorists freedom of action within the North-East theatre.

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