
News
13 new governors borrowed N226.8bn in six months – DMO
In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers.
This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively.
The external debt was calculated based on the exchange rate of N889/$ used by the Debt Management Office in its report.
This is according to an analysis of the latest sub-national debt reports released by the DMO.
The sub-national debts are classified into domestic borrowings from local creditors and external borrowings from international creditors like the World Bank and the International Monetary Fund.
The domestic and external debts published on the DMO’s website were as of December 30 and June 30, 2023, respectively.

The states, which include Benue, Cross Rivers, Katsina, Niger, Plateau, Rivers, Zamfara, and the Federal Capital Territory, got N115.57bn from domestic creditors, while governors of Ebonyi, Kaduna, Kano, Niger, Plateau, Sokoto, Taraba and Zamfara states borrowed $125.1m (N111.24bn) from external sources.
For the sub-nationals, a further breakdown of the data showed that Cross Rivers Governor, Bassey Otu, took the highest loan, with N16.2bn from domestic and $57.95m from foreign creditors between June and December 2023.
Katsina State followed with the debt surging by N36.93bn from N62.37bn to N99.3bn by December 2023.
Third on the list is Niger State, with a domestic debt of N17.85bn, surging from N121.95bn in June 2023 to N139.8bn by December of the same year.
Plateau got N16.32bn; Rivers borrowed N7.07bn; Zamfara, N14.26bn; and the FCT under the leadership of Nyesom Wike borrowed N6.75bn from domestic creditors.
For foreign debt, Governor Francis Nwifuru of Ebonyi State accumulated external debt of $37.54m, while Governor Uba Sani of Kaduna State borrowed $17.69m from external financiers.
Similarly, the governors of Kano borrowed $6.6m; Niger, $1.27m; Plateau, $831,008; Sokoto, $499,472; Taraba, $1.51m; and Zamfara, $655,563, from external sources.
Despite declarations by the administration of President Bola Tinubu that it would not continue with the massive borrowings of the previous government to fund its expenditures, the latest developments show that the new government is sticking to the controversial policy amidst increased revenue.
In 2023, state governors got the most Federal Account Allocation Committee allocations in at least seven years. The rise in FAAC allocations to the three tiers of government, especially the states, followed the removal of subsidy on petrol and currency reforms by the Tinubu administration. The reforms have reportedly led to a 40 per cent boost in income.
An analysis of the 2023 FAAC monthly allocations revealed that the sub-national and local government councils got the highest allocation of N627.73bn in September, followed by N610.5bn in December, N555.75bn in August, N533bn in November, N514bn in July and N497.97bn in October.

News
Terrorists kill kidnapped Zamfara teacher after collecting ransom
A teacher at Federal Government College, Anka, Mustapha Yahaya Maru, has reportedly been k!lled by armed band!ts despite the payment of ransom for his release.
Sahara Reporters reports that Maru was abducted early May while travelling to Anka in Zamfara State alongside several other passengers after their vehicle was intercepted by the attackers.
Following the abduction, the k!dnappers contacted his family and demanded a ransom far beyond their financial capacity.The report states that after intense efforts and negotiations, the family eventually raised and paid the agreed amount in hopes of securing his freedom.
Tragically, the bandits k!lled Maru on Tuesday instead of releasing him.
His de@th has thrown his family and the Maru community into mourning and has further heightened concerns over the worsening insecurity in the region.


News
VDM must face law over fake viral Tinubu Audio, Says Presidency
The Presidency on Wednesday said social media influencer Martins Vincent Otse, popularly known as VDM, should face the law over the circulation of an alleged fake audio purportedly involving President Bola Ahmed Tinubu.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated this in a post on X, accusing VDM of disseminating false content on social media.
“This VDM needs to face the weight of the law for being the conveyor and disseminator of a fake audio of President Tinubu. This is a clear case of an egregious abuse of the social media platform,” Onanuga wrote.
The presidential aide was reacting to a post by an X user, identified as Aneex, who questioned why some people believed the voice in the audio belonged to Tinubu.
The user described the audio as “cheap propaganda” and alleged that VDM was exploiting emotions to spread misinformation.
In the viral content, VeryDarkMan allegedly used the audio to call on Nigerians to reject President Tinubu’s re-election bid in the 2027 general elections.

The development comes just days after President Tinubu secured the presidential ticket of the All Progressives Congress at the party’s nationwide direct primary held on Saturday, May 23, 2026.
During the exercise, Tinubu reportedly polled 10,999,162 votes, defeating his sole challenger, APC chieftain Stanley Osifo, who secured 16,503 votes from over 12 million registered party members.
Meanwhile, opposition figures are already positioning ahead of 2027, with Peter Obi expected to fly the flag of the Nigerian Democratic Congress (NDC), while former Vice President Atiku Abubakar is also expected to lead the African Democratic Congress (ADC) ticket.

News
Eid-el-Kabir: Mbah preaches unity, tolerance, sacrifice, hope
Governor Peter Mbah of Enugu State has felicitated Muslim faithful in the state and the nation as whole on the occasion of Eid-el-Kabir, urging unity, tolerance, sacrifice, and hope.
Mbah, in his Eid goodwill message on Tuesday, also called for charity, urging Nigerians to rise in solidarity with one another, especially the less privileged.
He said, “On the occasion of Eid-el-Kabir, I extend warm felicitations to our Muslim brothers and sisters in Enugu State and across Nigeria as they commemorate this sacred festival of faith, sacrifice, and devotion to Almighty Allah.
“Eid-el-Kabir reminds us that sacrifice lies at the very heart of true service to God and humanity. It calls to mind the profound blessings inherent in the virtues of patience, obedience, trust, and unwavering faith – values exemplified by Prophet Ibrahim and which remain timeless lessons for us all.
“At a time when our nation continues to navigate important political and economic transitions, the significance of this celebration becomes even more profound.
“Let us be reminded that we all belong to one shared humanity and our collective progress as a people depends on our ability to uphold unity, mutual respect, peace, and compassion above all divisions.

“This season, therefore, offers us another opportunity to recommit ourselves to the ideals of tolerance, sacrifice for the common good, and solidarity with one another, especially the vulnerable among us.
“As we celebrate, I urge all citizens to continue to pray for the peace, stability, and prosperity of our dear state and nation. Let us also continue to work together in harmony to build a society defined by justice, opportunity, and shared progress for all.”
He concluded by wishing the Muslim faithful a peaceful and joyous Eid-el-Kabir celebration.

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