
News
Nigeria’s debt to World Bank rises by $660m
The total debt owed to the World Bank Group by Nigeria rose by $660m in the first six months of 2022.
This is according to data from both the Debt Management Office and the financial statements of the World Bank.

According to data from the DMO, Nigeria debt to the Washington-based bank was $12.38 as of December 31, 2021.
The financial statements of the World Bank for fiscal year 2022 show that Nigeria owes the lending institution $13.04bn as of June 30, 2022.
The International Bank for Reconstruction and Development and the International Development Association, which make up the World Bank, have, over the years, advanced loans to Nigeria.

The IBRD lends to governments of middle-income and creditworthy low-income countries while the IDA provides concessionary loans – called credits – and grants to governments of the poorest countries.
Nigeria’s debt to the IDA and IBRD stood at $12.55bn and $486m respectively as of June 30, 2022, compared to $11.97bn and $410.60m in December 32, 2021.
According to a recent Punch report, rising debt has pushed Nigeria up the World Bank’s top 10 IDA borrowers’ list.
The World Bank Fiscal Year 2021 audited financial statements for IDA showed that Nigeria was rated fifth on the list with $11.7bn IDA debt stock as of June 30, 2021.
However, the newly released World Bank Fiscal Year 2022 audited financial statements for IDA showed that Nigeria has moved to the fourth position on the list, with $13bn IDA debt stock as of June 30, 2022.
This shows that Nigeria accumulated about $1.3bn IDA debt within a fiscal year, with the country taking over the fourth top debtor position from Vietnam.
This debt is different from the outstanding loan of $486m from World Bank’s International Bank for Reconstruction and Development.
The top five countries on the list slightly reduced their IDA debt stock except Nigeria.
Nigeria has the highest IDA debt in Africa, as the top three IDA borrowers (India, Bangladesh and Pakistan) are from Asia.
The World Bank disclosed recently that Nigeria’s debt, which might be considered sustainable for now, was vulnerable and costly.
The bank said, “Nigeria’s debt remains sustainable, albeit vulnerable and costly, especially due to large and growing financing from the Central Bank of Nigeria.”
However, the Washington-based global financial institution added that the country’s debt was also at risk of becoming unsustainable in the event of macro-fiscal shocks.
The bank further expressed concerns over the nation’s cost of debt servicing, which according to it, disrupted public investments and critical service delivery spending. Punch
News
Building collapse: Anambra Govt seals site, vows tougher enforcement
• One casualty recorded, three hospitalized
The Anambra State Government has sealed the site of the collapsed building at Oko in Orumba North Local Government Area of the state.
Commissioner for Physical Planning and Urban Development, Barr. Chijioke Ojukwu announced immediate closure of the site pending comprehensive investigations and structural integrity assessments.

He said preliminary findings indicated structural failure as the likely cause of the collapse.
While reaffirming government commitment to stricter enforcement of physical planning regulations and the elimination of unsafe construction practices, Ojukwu vowed that the incident would mark a turning point in enforcement of building regulations across the state.
He assured that owners and developers of defective or non-compliant structures would face sanctions, while ongoing projects would undergo stricter inspections.

On his part, Commissioner for Works, Arc. Okey Ezeobi, said technical investigations were ongoing to determine exact cause of the collapse.
He added that government had engaged a team of professionals to carry out a comprehensive structural evaluation.
Recommendations will be implemented
He assured residents that government would implement recommendations from the investigation to strengthen the state’s building control system.
Implementation will also prevent future occurrences while ensuring prosecution of culprits in accordance with the law.
The Commissioner for Health, Dr. Afam Obidike, said government immediately deployed medical personnel and ambulances to the scene to provide emergency care for the injured, while the Ministry of Health worked closely with other emergency response agencies throughout the rescue operation.
Obidike commended the swift and coordinated response of the Anambra State Government and emergency agencies, describing it as crucial to the rescue efforts and timely medical treatment of victims.
The Mayor of Orumba North Local Government Area, Rtd. Captain. Casmir Nwafor, praised the rapid intervention of the state government and emergency responders, noting that their coordinated efforts helped contain the situation and minimize further risks.
Nwafor urged developers, property owners, institutions, and residents to comply strictly with approved building regulations and safety standards, reaffirming the local government’s support for the enforcement of physical planning laws.
Running to safety
Eyewitnesses, Prince Ifeanyi Ezefunamba said the building, reportedly occupied by students of Federal Polytechnic Oko, collapsed at about 10:00 p.m. after occupants heard cracking sounds and evacuated.
One survivor, Miss Chioma Akabike narrowly escaped moments before the collapse, while rescue operations commenced immediately.
Also present during the inspection were officials of the National Emergency Management Agency (NEMA) headed by the Enugu State Head of Operations, Mrs. Priscilla Mbaekwe, the Nigeria Police Force, the Nigerian Red Cross Society, and the Anambra State Emergency Management Agency (SEMA).
Others include: the Anambra State Fire Service, and the Council for the Regulation of Engineering in Nigeria (COREN), who participated in rescue, security, and preliminary technical assessments.
As of the time of filing this report, one fatality had been confirmed, while three injured victims were receiving treatment at Chukwuemeka Odumegwu Ojukwu University Teaching Hospital (COOUTH) and St. Michael’s Hospital, Oko, as rescue operations continued.
News
Petroleum Minister lauds NCDMB for Community-focused Interventions
The Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo, on Saturday commended the Nigerian Content Development and Monitoring Board (NCDMB) for demonstrating that Local Content Policy could be a force for transforming lives and creating socio-economic value through community-focused interventions.
Speaking at the commissioning of a state-of-the-art Information and Communication Technology (ICT) Centre at IkaComprehensive High School, Ikot Akpan Anwa, Akwa Ibom State, the Minister said such a strategic investment in the area, with vast possibilities for research and online learning through diverse educational platforms, would bolster human capital development, digital literacy and sustainable community development.

The ICT Centre, built and equipped by the NCDMB, comprises a modern computer laboratory with 50 networked desktop workstations, an interactive smart board, projector, server room and Starlink high-speed Internet connectivity to support digital learning, research and computer-based examinations. Designed to accommodate up to 70 users, the facility also features air-conditioned learning spaces, a staff room, store and separate convenience facilities. Power reliability is supported by a 15kVA generator and a 15kVA solar power system with battery backup, complemented by a dedicated network infrastructure for seamless connectivity.

“This ICT Centre,” according to the Minister, “is far more than a building equipped with computers; it is an investment in the future of our children and a gateway to knowledge, innovation, creativity and opportunity.” Continuing, he noted that, “Nations that invest in the digital education of their young people today are the ones that will lead the world tomorrow.”

He said the initiative of the Board aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu by advancing access to quality education, youth empowerment, digital transformation and inclusive economic growth, as young Nigerians in rural communities acquire relevant digital skills and competencies to participate effectively in a technology-driven economy.
Representing the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, the Director, Corporate Services, Dr. Abdulmalik Halilu, stated that digital literacy and ICT capacity development remain a key component of the Board’s human capital development mandate aimed at building a skilled workforce for the Nigerian oil and gas industry and the broader economy. He noted that the facility would provide students with access to digital learning, research tools, artificial intelligence and global knowledge resources.
“This ICT Centre is more than a building; it is an investment in the future of our young people,” he stated, adding, “It represents our commitment to extending Nigerian Content objectives beyond industry into classrooms, where innovation, technology and skills development can empower the next generation.”
Halilu stressed that the project’s long-term success depends on collaboration among the Board, the school and the host community. He urged the community to take ownership of the facility and ensure its proper maintenance and sustainability for future generations.
“Our expectation is not simply to hand over a facility but to see measurable outcomes in the lives of the students who will use it. We therefore call on the school and the host community to safeguard this centre and ensure it continues to deliver value for many years to come.” He added.
Speaking on behalf of the project delivery team, the Managing Director of Standard Institute of Technology Limited, Engr. Alexander Nsidibe, expressed appreciation to NCDMB for the confidence placed in the company to deliver the project. He described the ICT Centre as a demonstration of the Board’s commitment to quality infrastructure development and human capital advancement. He pledged the company’s continued support for the facility’s maintenance for one year after handover, noting that the Centre would enhance students’ digital competencies and prepare them for productive life in industry.
In her welcome address, the Principal General of IkaComprehensive High School, Mrs. Nkom John Umoette, described the ICT Centre as a transformative intervention that would bridge existing digital access gaps. She noted that the school lacked an ICT facility, which constrained students’ exposure to digital learning and computer-based education.
She expressed appreciation to Rt. Hon. Ekpo and the NCDMB for making the project a reality, stating that the facility would equip students with essential digital skills, improve their preparedness for computer-based examinations, and create greater opportunities for academic excellence and future careers.
A representative of the community commended the Minister and the NCDMB for the delivery of the ICT Centre, noting that the facility would significantly improve access to digital learning and computer-based examinations. He recalled that students previously travelled to Uyo and neighbouring communities to register for and take examinations such as JAMB, incurring additional costs and facing logistical challenges.
News
Many feared trapped as three-storey hostel collapses in Anambra
Many students are reportedly trapped even as rescue operation is ongoing in Oko community in Orumba North Local Government Area of Anambra State where a private student hostel reportedly collapsed Sunday night.
Several occupants are feared trapped beneath the rubble of the three-storey building identified as Elite Five Star Lodge collapsed at Amokpala, Oko.

Eyewitnesses said a loud bang was heard moments before the multi-storey building gave way, sending students and residents rushing to the scene in confusion and fear.
“We heard a loud bang, and within seconds people were screaming for help. Everyone rushed out to see what had happened,” an eyewitness said.
Videos and photos circulating on social media showed a large crowd gathered around the collapsed structure as residents, students and emergency responders launched frantic rescue efforts. Local volunteers were also seen assisting in clearing debris in a bid to locate survivors.

Rescue operations ongoing – Police
The Anambra State Police command confirmed the incident in a statement Monday morning saying a coordinated rescue operation was underway.
The building, located beside Tonimas Filling Station, caved in on July 26, prompting an immediate emergency response from the Anambra State Police Command and other security agencies.
The statement issued by the Police Public Relations Officer, SP Tochukwu Ikenga, said the Police-led joint security team swiftly mobilised to the scene upon receiving a distress call adding that the area was secured to prevent further danger while rescue efforts commenced in collaboration with relevant emergency responders.
According to the statement, personnel of the Anambra State Fire Service and the Anambra State Emergency Management Agency (SEMA) joined the operation to assist in searching for survivors and evacuating victims from the debris.
The police command disclosed that some injured occupants have already been rescued and taken to a hospital in Oko, where they are receiving medical treatment.
However, rescue operations are still in progress, and authorities said the number of casualties or persons trapped could not yet be confirmed.
The command appealed to residents and members of the public to remain calm, refrain from spreading unverified information, and stay away from the disaster site to enable emergency personnel carry out their duties without obstruction.
Ikenga assured that further updates would be provided as more verified information becomes available.
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