President tinubu requests senate approval for new ₦1.15trn domestic loan to bridge 2025 budget gap.

President Bola Tinubu has requested the National Assembly’s approval for a fresh ₦1.15 trillion domestic loan to bridge the deficit in the 2025 national budget. The request, contained in a letter read by Senate President Godswill Akpabio during Tuesday’s plenary, is part of measures to sustain key government programmes and projects.

Tinubu explained that the loan would ensure smooth implementation of the 2025 budget and compliance with the Fiscal Responsibility Act 2007 and relevant executive orders requiring legislative approval for new borrowings. The Senate referred the proposal to the Committee on Local and Foreign Debt, which has one week to submit its report.

The latest borrowing plan comes just days after the Senate approved Tinubu’s request for a $2.847 billion external loan, including a $500 million debut Sovereign Sukuk, aimed at funding the budget deficit and refinancing maturing Eurobonds.

Earlier in May, Tinubu sought approval for a $21.5 billion external loan for infrastructure, health, education, and water projects, as well as a ₦758 billion domestic bond to clear outstanding pension arrears under the Contributory Pension Scheme.

According to the Debt Management Office, Nigeria’s total public debt rose to ₦152.40 trillion as of June 2025, up from ₦149.39 trillion in March — an increase of ₦3.01 trillion within three months. In dollar terms, the debt stands at $99.66 billion, underscoring the country’s growing reliance on borrowing to fund fiscal shortfalls amid ongoing revenue reforms and foreign exchange liberalization.

2027: Jonathan Can’t Fix Nigeria, Systemic Overhaul Needed – Activist Farotimi

Human rights lawyer, Dele Farotimi, says replacing President Bola Tinubu with ex-President Goodluck Jonathan in 2027 will not solve Nigeria’s challenges unless the country tackles its structural failures.

In an interview, Farotimi argued that “a thousand Jonathans cannot fix Nigeria” if the governance system that enables corruption and poor leadership remains unchanged. He stressed that Nigeria’s problem is not about individuals but about building sustainable systems that prioritize education, security, agriculture, and nation-building.

Farotimi also dismissed Peter Obi’s one-term presidency idea as inadequate without clear plans. “It’s not about how long you stay in office, it’s about what you do with the time,” he said.

On pension arrears, he condemned the neglect of retirees, saying Nigeria’s ruling elite have “enslaved the people with a system designed to extract value for themselves while leaving citizens in poverty.”

#NigeriaPolitics #2027Elections #DeleFarotimi #SystemReform

FG Pays ₦5.12bn Pension Arrears to 90,689 Retirees

The Federal Government, through the Pension Transitional Arrangement Directorate (PTAD), has disbursed ₦5.12bn in pension arrears to 90,689 retirees under the Defined Benefit Scheme.

Beneficiaries include pensioners from Customs, Immigration & Prisons, Police, Civil Service, and Parastatals departments. PTAD says the payment aligns with President Tinubu’s Renewed Hope Agenda to clear outstanding pension liabilities.

The announcement came as members of the Nigerian Union of Pensioners protested in Lagos over up to 35 months of unpaid entitlements and non-payment of a ₦35,000 palliative.

#FG #PTAD #Pension #Retirees #BreakingNews #Nigeria #RenewedHopeAgenda

I Can Never Accept This - Retired Police Officer Who Served For 35 Years Cries Out After He Received N2.8m As Gratuity.

In a video making the rounds online, the aggrieved officer said he served with the Edo state police command for 35 years and retired from service in July 2024.
Retired Police Officer
A retired police officer who served for 35 years has raised an alarm after receiving just N2.8 million as his gratuity.

In a video making the rounds online, the aggrieved officer said he served with the Edo state police command for 35 years and retired from service in July 2024.

He stated that he was called in this morning to come and sign for the disbursement of the lump sum of his gratuity put at N2, 870, 451 while his pension arrears was put at N706, 915.

‘’I retired as an SP Superintendent of Police in the Edo state police command 1st July 2024. For 35 years, that is unacceptable. For 35 years I served the Nigeria police.


"It is highly unacceptable. I will not sign. The Inspector General of Police, IGP Egbetokun, should find out why my money is so small. I cannot accept. I can never accept this, This is highly unacceptable.'' he said

This comes days after some retired police officers also took to the street to protest their unpaid pension and gratuity.