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FG to get $500m budget support from AfDB

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The Federal Government of Nigeria is seeking to secure a $500 million loan from the African Development Bank (AfDB) before the end of the year as part of ongoing efforts to stabilize the economy and support key reforms introduced under President Bola Tinubu’s administration.

According to a Reuters report, the loan forms part of a larger $1 billion budget support programme aimed at reinforcing Nigeria’s fiscal and structural reforms. The move follows a previous $500 million tranche disbursed last year under the same arrangement.

Bode Oyetunde, Nigeria and São Tomé and Príncipe’s representative on the AfDB Board, confirmed the development during the Nigerian Economic Summit in Abuja. He explained that discussions with the bank were progressing positively, and approval could come before the end of 2025.

“We have been working strongly to support Nigeria’s very bold and aggressive macroeconomic reforms under President Tinubu. Given all these reforms, it was important to support Nigeria,” Oyetunde told Reuters.

He added, “They asked us for $1.5 billion. We are able to do $1 billion over two years. Last year, we provided $500 million in budget support. This year, we are looking to do another $500 million, subject to board approval.”

The funding aligns with the AfDB’s commitment to back Nigeria’s economic transformation agenda, which has included fuel subsidy removal, the unification of exchange rates, and ongoing tax system reforms since Tinubu assumed office in May 2023.

Oyetunde further noted that the AfDB’s intervention would focus primarily on fiscal management and power sector reforms, areas critical to improving Nigeria’s macroeconomic stability and restoring investor confidence.

The proposed loan is expected to help cushion the fiscal impact of the reforms while supporting government programmes aimed at addressing inflation, improving energy supply, and promoting sustainable economic growth.

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Police present ₦33.8m to families of fallen officers in Kebbi

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The Kebbi State Police Command has disbursed cheques totalling ₦33,816,610.97 to 50 families of police officers who died in active service.

The presentation, held on Thursday at the Command’s Headquarters in Birnin Kebbi, was made by the Commissioner of Police, CP Bello Sani, as part of the Group Life Assurance and IGP Family Welfare Schemes initiated to support families of fallen heroes.

PUNCH Online reports that the Group Life Assurance and IGP Family Welfare Schemes are part of the ongoing initiatives under Egbetokun to enhance welfare and provide financial relief to families of officers who lost their lives in the line of duty.

Speaking during the ceremony, Sani commended the Inspector-General of Police, IGP Kayode Egbetokun, for his steadfast commitment to the welfare of police personnel and their families.

He described the gesture as a reflection of the IGP’s compassion and dedication to the well-being of officers, saying it had brought “immense joy and relief” to many bereaved families.

“The Inspector-General’s magnanimity continues to boost morale, enhance performance, and uplift the spirit of our officers across the country,” the Commissioner said, praying for God’s continued guidance for the police chief.

Sani urged the beneficiaries to invest the funds wisely in ventures that would ensure lasting benefits for their dependents.

Responding on behalf of the recipients, Sonnen Simeon Mome thanked the IG for his generosity, noting that the support would have a meaningful impact on their lives.

“This gesture shows that the Nigeria Police Force has not forgotten the sacrifices of our loved ones,” Mome said, assuring that the money would be put to good use.

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Tinubu congratulates minister, NLNG boss on GECF roles

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President Bola Tinubu has congratulated the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, on his emergence as President of the 2026 Gas Exporting Countries Forum Ministerial Meeting held in Doha, Qatar.

PUNCH Online reports that the 27th ministerial meeting was held today, Thursday, in Doha, Qatar. Key items discussed include coordination among member states to address global policies that may pose challenges to the development and trade of natural gas.

Participants also discussed organisational matters, including the election of the next GECF Secretary-General and preparations for the 8th GECF Heads of State Summit, to be held in Moscow.

In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President also felicitated with the Managing Director of Nigeria LNG Limited, Philip Mshelbila, on his election as Secretary-General of the GECF.

The president described their new roles as a further consolidation of Nigeria’s leadership in global gas diplomacy.

Tinubu expressed confidence that both Mshelbila and Ekpo will represent Nigeria with excellence and collaborate with other member states to deepen cooperation, stability, and inclusivity in the global gas market.

“The Nigerian government is proud of Mshelbila’s election as secretary-general and Ekpo’s emergence as president of the GECF Ministerial meeting, as the two positions reflect the international community’s confidence in Nigeria’s leadership and technical expertise in the global gas sector,” the President said.

“Natural gas remains the cornerstone of Nigeria’s industrial growth, energy security, and economic transformation under our administration’s Renewed Hope Agenda. Our country shall remain a dependable voice in advancing equitable energy access and a cleaner energy future,” he added.

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Trailer kills Kogi varsity lecturer

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Tragedy struck in the university community of Felele, Lokoja, the Kogi State capital, on Wednesday, as a heavy-duty truck crushed a lecturer in the Department of Theatre Arts, Federal University, Lokoja.

The Kogi State Sector Commander of the FRSC, Mr Tenimu Etuku, confirmed the death of the lecturer, Mrs Kemi Emmanuel, on Thursday in a telephone conversation with our correspondent in Lokoja, describing the incident as “very sad and unfortunate.”

Etuku said the accident occurred around 3:30 pm on Wednesday when the lecturer fell off a commercial motorcycle, popularly known as an okada, after being hit by a speeding truck along the highway at Crusher, in the Lokoja metropolis.

“When the accident happened, our rescue team responded promptly and quickly rushed the victim to the Kogi State Specialist Hospital, where she was confirmed dead.

“The corpse of the deceased has been deposited at the hospital’s mortuary,” he said.

The FRSC commander expressed shock over the conduct of the okada rider involved in the incident.

This heartrending occurrence has once again highlighted growing concerns over the increasing frequency of accidents involving heavy-duty trucks along the busy Felele axis.

PUNCH Online reports that in May 2025, 19 people, including five children, lost their lives in a tragic accident along the Obajana–Lokoja road, prompting the Kogi State Governor, Ahmed Usman Ododo, to call for stricter enforcement of road traffic laws on federal highways.

Similarly, in April, six persons died in a road crash involving a passenger bus along the Lokoja–Abuja road, while on October 12, ten persons were killed in another accident along the same Obajana–Lokoja route.

Residents and students have since voiced their concerns, urging the Kogi State Government to take immediate and strategic actions to prevent further tragic loss of lives in similar incidents.

It has been strongly suggested that regulations be introduced to restrict trailers from passing through the city during the day, allowing their movement only after 9:00 pm.

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