society
Incredible! How Each Nigerian Owes ₦155,000
Interestingly, the Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.
It also said the debts are expected to rise this year following more debts to be sourced from international financiers.
As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).
The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.
Cause of increase
The debt stock grew by N2.38trn or $6.59bn within the three months interval.
The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.
The components of the debts are:
The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.
The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.
The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.
Further rise
The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.
The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.
Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.
On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.
What you owe
The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.
At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.
This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.
DAILY TRUST
society
Banwo Questions Bwala’s Credibility After Al Jazeera Interview
Banwo Questions Bwala’s Credibility After Al Jazeera Interview
Public commentator, Dr. Ope Banwo, has criticised Daniel Bwala, the Presidential Spokesperson on Policy Communication for President Bola Ahmed Tinubu, following a contentious interview on Al Jazeera, describing the appearance as damaging to the credibility of Nigeria’s public communication.
Bwala had appeared on a programme hosted by journalist Mehdi Hasan, where he faced a series of questions about past statements attributed to him. During the exchange, Hasan presented video clips of previous remarks by the government spokesman and asked him to reconcile them with his responses during the interview.
The exchange, which has since circulated widely online, drew attention after Bwala appeared to dispute statements that were subsequently played back during the programme.
Reacting to the development, Banwo said the episode reflected poorly on Nigeria’s representation on international media platforms.
According to him, the availability of digital records and online archives means public officials must be prepared to defend their past statements whenever they appear on global television.
“In the era of instant fact-checking, any public figure going on international television must assume that every previous statement can be easily retrieved,” Banwo said.
He added that the controversy surrounding the interview was particularly troubling because the contradictions presented during the programme were supported with video evidence.
Banwo noted that while political interviews can be confrontational, government representatives should expect tough questioning when appearing before international audiences.
The founder of Naija Lives Matters also expressed concern over Bwala’s reaction during the interview, especially his claim that he was not informed he would be required to defend his personal record.
“A government spokesman should never be surprised by questions about his own public statements,” Banwo said.
During the programme, Bwala also responded to criticism of Nigeria’s governance challenges by arguing that similar problems exist in other parts of the world.
However, Banwo argued that such comparisons do not address the specific issues raised about Nigeria.
According to him, the episode should serve as a reminder of the importance of preparation and credibility when Nigerian officials appear before international media platforms.
The interview has continued to generate reactions across social media and political commentary circles, with observers debating both the conduct of the interview and the implications for Nigeria’s global image.
society
THE IMPERIAL GOLD COIN OF THE UNITED KINGDOM OF ATLANTIS UNVEILED AS SYMBOL OF SOVEREIGNTY AND HERITAGE
THE IMPERIAL GOLD COIN OF THE UNITED KINGDOM OF ATLANTIS UNVEILED AS SYMBOL OF SOVEREIGNTY AND HERITAGE
_[Atlantis City, United Kingdom of Atlantis – March 2026]_ – The United Kingdom of Atlantis proudly announces the introduction of its *Imperial Gold Coin*, a magnificent emblem of sovereignty, authority, and imperial heritage. The exquisite gold coin has been crafted to represent the nation’s regal tradition, economic strength, and the visionary leadership of its monarch.
The centerpiece of the coin features the dignified portrait of *His Imperial Majesty, Professor Solomon Wining*, depicted in full royal regalia. Crowned with a majestic golden crown and adorned with intricately crafted ornaments, the portrait embodies honor, wisdom, and noble leadership befitting a sovereign ruler. The depiction celebrates the monarch’s reign, which is associated with wisdom, development, and the pursuit of justice.
The golden coin itself signifies *prosperity, stability, and the enduring legacy* of the Atlantis Kingdom. Gold, historically a universal symbol of power, wealth, and permanence, reflects the strength and vision of the kingdom’s leadership and its aspirations for lasting greatness.
Encircling the royal portrait is the carefully engraved inscription *“United Kingdom of Atlantis”*, reinforcing the state’s identity any the authority of its sovereign ruler. The lower rim of the coin prominently displays the name *Solomon Wining*, commemorating the monarch whose leadership is linked to noble governance and national advancement.
The phrase *“Gold Coin”* highlights not only the currency’s intrinsic value but also its symbolic significance as a representation of the kingdom’s economic structure and royal treasury. Beyond its aesthetic elegance, the coin serves as a *mark of sovereignty*, a seal of authority, and a reminder of the royal institution governing the United Kingdom of Atlantis.
The Imperial Gold Coin represents:
– *Unity* among citizens,
– *Loyalty* to the crown,
– A vision of a kingdom built upon *justice, prosperity, and noble leadership*.
Every detail—from the engraved crown to the polished golden surface—makes the coin a timeless emblem of imperial prestige and national pride. It stands as both a symbol of wealth and a monument to the legacy of royal leadership, reminding all who behold it of the enduring power and majesty of the United Kingdom of Atlantis.
The United Kingdom of Atlantis is a sovereign nation dedicated to upholding traditions of regal governance, cultural heritage, and economic prosperity, guided by the wisdom of its imperial leadership.
_Notes to Editors_:
The Imperial Gold Coin is intended for commemorative and symbolic purposes, representing the nation’s imperial heritage and royal authority.
society
Ajadi Visits Ibadan Chief Imam, Receives Blessings
Ajadi Visits Ibadan Chief Imam, Receives Blessings
The leading gubernatorial aspirant in Oyo State on the platform of the Peoples Democratic Party (PDP), Ambassador Olufemi Ajadi Oguntoyinbo, on Wednesday paid a courtesy visit to the Grand Chief Imam of Ibadanland, Sheikh Imam Abdul Ganiy Abubakir Agbotomokekere, at his Oja’ba residence in Ibadan, where discussions centred on leadership, integrity, and the role of prayers in governance.
Ajadi, who described the revered Islamic cleric as a spiritual pillar in Oyo State, said his visit was to seek prayers and wise counsel as he continues consultations ahead of the 2027 governorship race.
While addressing the Chief Imam, Ajadi commended his consistent prayers for Ibadanland, Oyo State and Nigeria, noting that religious leaders remain critical stakeholders in nation building.
“I have come to seek your prayers and spiritual blessings because of your important role in promoting peace, unity and moral guidance in our society,” Ajadi said.
“I also want to appreciate your continuous prayers for the progress of Ibadanland, Oyo State and Nigeria as a whole. My prayer is that Almighty Allah will continue to grant you sound health and long life to witness many more Ramadan seasons on earth.”
Speaking further, the PDP gubernatorial aspirant emphasised the need for leadership driven by compassion, fairness and accountability, stressing that his political aspiration is rooted in service to the people.
“My ambition is not just about occupying an office but about serving the people with sincerity and fear of God. We must continue to encourage politics that will bring development and improve the welfare of our people,” he added.
While speaking with journalists after the visit, Ajadi also assured the people of Oyo State and Nigerians at large that the internal crisis and political tensions within the Peoples Democratic Party (PDP) have been brought under control by the grace of God. He expressed optimism that the party would emerge victorious in all elective positions in the 2027 general elections.
In his response, Sheikh Agbotomokekere advised the governorship hopeful to remain focused on the principles of good governance, warning against corrupt practices often associated with politics.
The respected Islamic scholar noted that while politics is practised differently by individuals, only leaders with integrity and fear of God can truly deliver the dividends of democracy.
“Politics is practised by different kinds of people. Some play politics in a corrupt way, while others practise it with sincerity. My prayer is that you will be among those who will practise democracy in the right way if you become governor,” the Chief Imam said.
He reminded the aspirant that human ambition can only be fulfilled by divine approval, stressing that ultimate power belongs to God.
“Whoever is seeking a position should know that only Allah can make such an ambition come true. Whether a person becomes famous or remains unknown is also by the will of Allah,” he said.
Offering prayers for the politician, the cleric added: “Many people may be struggling for a position meant for one person, and it is only God who knows the rightful person. I pray that Almighty Allah will make you the chosen one among all the contenders.”
Using a football analogy to further illustrate his point, the cleric advised Ajadi to be wary of political distractions and misleading influences.
“On the football field, sometimes spectators believe they understand the game more than the players themselves. I pray that you will not be misled by so-called political gurus and that God will guide your steps aright,” he said.
Sheikh Agbotomokekere, the 18th Chief Imam of Ibadanland, is widely respected across South-Western Nigeria for his scholarship, spiritual leadership and advocacy for peaceful coexistence among religious and political groups.
Observers say the visit forms part of Ajadi’s ongoing consultations with key stakeholders, traditional rulers and religious leaders as political activities gradually gather momentum ahead of the next electoral cycle in Oyo State.
The cleric offered special prayers for peace in Oyo State, successful leadership, and continued unity among the people despite political and religious differences.
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