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Speaker Abbas cautions on Nigeria’s borrowing, calls for urgent reforms

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Nigeria’s mounting debt crisis has triggered a strong warning from the Speaker of the House of Representatives, Abbas Tajudeen, who cautioned that the nation’s borrowing has breached its statutory ceiling and now poses a threat to fiscal stability.

The Speaker raised he alarm on Monday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees, held at the National Assembly in Abuja.

The conference, which drew parliamentarians, development partners, and financial experts from across West Africa, is focusing on the theme “Strengthening Parliamentary Oversight of Public Debt: The Role of Finance and Public Accounts Committees.”

In his speech, Abbas expressed concerns that Nigeria’s debt had reached “a critical point” and called for urgent reforms in borrowing practices and oversight.

“As at the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, equivalent to about US$97 billion. This represents a sharp rise from N121.7 trillion the previous year, underscoring how quickly the burden has grown.

“Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 per cent, well above the statutory ceiling of 40 per cent set by our own laws.

“This is not just a budgetary concern but a structural crisis that demands urgent parliamentary attention and coordinated reform,” the Speaker warned.

The revelation comes at a time when debt servicing continues to gulp a significant portion of government revenue, leaving little room for critical spending on infrastructure, health, and education.

According to fiscal experts, Nigeria now spends more on repaying loans than on social services, raising fears that the economy may be edging toward unsustainable levels.

Abbas described the breach of the debt limit as “a signal of strain on fiscal sustainability,” stressing the need for “stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”

He drew parallels with the wider African debt landscape, where several countries are trapped in spiralling debt service obligations.

To mitigate fiscal risks, the Speaker announced that Nigeria is ready to champion the establishment of a West African Parliamentary Debt Oversight Framework under WAAPAC.

The framework, he explained, would harmonise debt reporting across the sub-region, set transparency standards, and empower parliaments with timely data to scrutinise borrowing practices.

In addition, he unveiled plans for a regional capacity-building programme for Public Accounts and Finance Committees, designed to equip members with modern tools for debt sustainability analysis and fiscal risk assessment.

While acknowledging that borrowing remains an important tool for development, Abbas warned against reckless debt accumulation.

“Borrowing should support infrastructure, health, education, and industries that create jobs and reduce poverty. Reckless debt that fuels consumption or corruption must be exposed and rejected.

“Oversight is not just about figures but about the lives and futures behind those figures,” he stressed.

The Speaker further reiterated the 10th House’s commitment to transparency and accountability in public finance. He said under its Open Parliament Policy, all major borrowing proposals would be subjected to public hearings, while simplified debt reports would be made available to citizens.

Abbas urged participants to approach deliberations with dedication, noting that the resolutions would play a vital role in strengthening fiscal responsibility and accountability across the continent.

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NCAA summons 13 domestic airlines over flight cancellations, delays

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The Nigeria Civil Aviation Authority has summoned 13 domestic airlines to an emergency meeting over the growing number of flight delays, cancellations and affecting passengers across the country.

The meeting, scheduled for Wednesday at the NCAA headquarters in Abuja, was confirmed by the agency’s Director of Public Affairs and Consumer Protection, Michael Achimugu, via his X handle on Tuesday.

This intervention comes amid rising complaints from air travelers and a series of incidents involving unruly passenger behavior at airports, a trend NCAA attributes partly to poor airline adherence to aviation rules.

In recent times, violent acts have become prominent in Nigerian airport incidents that were caused by different reasons.

While some unruly behaviours were caused by passengers’ ignorance of aviation rules, some were a result of airlines’ deliberate moves to circumvent regulations and deprive passengers of their rights.

Achimugu disclosed that the meeting would address a range of critical issues, including persistent flight delays and cancellations, Passenger handling protocols and welfare obligations, unresolved refund and compensation complaints, enforcement of safety measures like the phone switch-off directive, protection for cabin crew and NCAA officials, and the Introduction of RFID baggage tagging and real-time flight monitoring technology.

This comes barely 24 hours after the NCAA emphasised that airlines must uphold the Nigerian Civil Aviation Regulations, particularly Part 19, which outlines specific obligations to passengers in the event of delays or cancellations, including providing hotel accommodations for stranded travelers between 10:00pm and 4:00am.

The regulatory body stated its readiness to begin “naming and shaming” airlines that consistently flout aviation rules particularly those that delay or cancel flights without due process or passenger support.

Achimugu noted that airlines cancel flights late at night without making provisions for passenger welfare, leaving NCAA consumer protection officers to manage agitated travelers. This, he said, exposes officials to unnecessary risk.

He warned that the era of leniency is over, stating, “For infractions that are sanctionable, the Authority will apply the fullest measures possible. We will not abandon the letters of our regulations.”

Achimugu, however, reiterated that while the NCAA acknowledges the challenges faced by domestic carriers, operators must meet the expected standards if they wish to be regarded as world-class.

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Girl Abducted By Boko Haram In Chibok Wins Startup Pitch Award

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A survivor of the 2014 Chibok school abduction by dreaded Boko Haram terrorists, Mary Katambi, has emerged winner of the Sought After School of Innovation & Entrepreneurship (SASIE) Idea to Venture pitch finale with her startup, Kaiki, an online marketplace for sustainable fashion and household items.

Katambi, who turned her harrowing past into a story of innovation, said her mission was to use Kaiki to promote recycling and sustainable living while empowering communities.

Speaking after her win, Katambi expressed gratitude for the opportunity, noting that the programme had given her the tools and confidence to transform her vision into a business.

Also recognised at the event was Dr. Irene Udebuana, founder of Robotprof, a climate-tech education initiative equipping children aged 7–16 with skills in coding, robotics, and green technology. The initiative aims to prepare the next generation for a more sustainable future.

Founder of SASIE, Dr. Jennifer D. Daniel, praised the winners as examples of the powerful role women are playing in Africa’s technology and innovation ecosystem.

“Mary and Irene embody exactly why SASIE exists: to unlock bold ideas and build powerful women-led ventures across the continent,” Daniel said.

The two winners will each receive a founder’s grant, mentorship, and the opportunity to apply as pioneer ventures to the Eunoia VC incubator. They will also gain media exposure, including a feature on Women Radio 91.7’s Startup Sisi programme.

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You Have Become Mr Protester Of Nigeria While Your Wife Is Slaving Away In America – Igbokwe Blasts Sowore Over Tinubu’s ‘Criminal’ Comment

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A chieftain of the All Progressives Congress (APC), Joe Igbokwe, has urged activist Omoyele Sowore to withdraw his comment describing President Bola Tinubu as a criminal.

Speaking via a post shared on 𝕏, Igbokwe expressed shock that Sowore would call a sitting President a criminal.

He advised the former presidential candidate to apologise to Tinubu and Nigerians who elected him into power.

Igbokwe argued that nobody living or dead in Nigeria has touched lives like Tinubu has in the last 30 years.

He wrote: “I got to know Sowore through my good friend Mr Peter Claver. Both of them graduated from the University of Lagos. We have been friends for years and we have reasoned together and interacted for years.

“However I was stunned into disbelief and in total shock when he called a seating President of the Federal Republic of Nigeria, PBAT a criminal.

“I advised him to withdraw the shameful scurrilous drivels and apologize to the President. Up till now he has not found the need to apologize to the President and Nigerians who elected him as president.

“PBAT is not his mate. The President is an international Chattered Accountant, an international scholar in the best tradition, former Senator of the Federal Republic of Nigeria, former Governor of Nigeria’s economic nerve center called Lagos State for 8 yrs, and now the President of Nigeria, the biggest, the most populated country in Africa and the most endowed.

“Nobody body living or dead in Nigeria has touched lives across Nigeria the way PBAT has done in the past 30 years. Go and verify. Go and ask questions. Go and do due diligence.

“Apart from being the President of UNILAG Student Union I have not recorded any significant progress since he left Akoka apart from Aluta Continua business and life on the streets. He moves from police station to another, from one court to another, from one detention camp to another and nothing more.

“He has become Mr Protester of Nigeria while his American wife is slaving in USA with the Children. Sowore cannot continue to waste his precious gift of life on the streets on acrimony and division.

“These activities are getting diminished everyday and does not make sense to people like us again. He has been playing a dangerous game, he is becoming too arrogant and at best silly. I urge my friend Sowore to rethink and stop this walk on the streets that has become irrelevant and at best a non event.

“When you call a President we all elected a criminal it is at once telling us that 200 millions are criminals. This is unacceptable. It is unbelievable.

“It is a joke taking to a frightening dimension. It is kindergarten and at best horrible. I have asked you as a friend to retract this nonsensical effusions and openly apologize to the President and Nigerians. This is our irreducible minimum demand. Let the world know I have advised Sowore as a friend.”

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