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Every Nigerian ‘Owes’ Over N700k As Nation’s Debt Profile Rises Under Tinubu

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Nigeria’s total public debt skyrocketed to ₦142.3 trillion by the end of September 2024, marking a 5.97% increase from the ₦134.3 trillion recorded in June, according to the latest figures from the Debt Management Office (DMO).

This surge stems from rising domestic borrowing and the naira’s depreciation, which sharply inflated the naira equivalent of external debts.

External debt, measured in dollar terms, rose slightly by 0.29%, from $43.03 billion in June to $43.15 billion in September.

However, the naira equivalent ballooned by 9.22%, jumping from ₦63.07 trillion to ₦68.89 trillion.

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This was attributed to the exchange rate weakening from ₦1,470.19/$ to ₦1,601.03/$ within the same period.

Domestic debt presented a mixed picture: while declining by 5.34% in dollar terms (from $48.45 billion to $45.87 billion), it rose by 3.10% in naira terms, increasing from ₦71.22 trillion to ₦73.43 trillion.

“The Federal Government remains the primary driver of domestic debt, rising from N66.96 trillion in June to N69.22 trillion in September,” the DMO noted.

Debt owed by states and the Federal Capital Territory (FCT) decreased marginally, from ₦4.27 trillion to ₦4.21 trillion.

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With the naira’s depreciation exerting significant pressure, financial experts warn that Nigeria’s rising debt stock underscores the urgent need for fiscal reforms to stabilise the economy.

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FCTA Signs Agreements For Development of Jabi Lake As Recreation Hub(Photos)

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The Federal Capital Territory Administration (FCTA) has signed Development Agreements with Suburban Broadband Limited and Akida Hills Limited for the development of a recreational hub in the heart of Abuja.

Speaking at the signing ceremony, the FCT Minister, Nyesom Wike described Abuja as a fast-developing city, and a perfect location for recreation, but lamented that the pace of development had been slowed down by land speculators who held on to land without developing them.

The Minister, who stressed that, it was no longer business as usual for those “hoarding and speculating government land”, warned that “for those that have applied for land for development, they must have to develop the land within the next six months, and we will revoke it if it is not done. ”

Speaking at the brief ceremony in the FCT Minister’s conference room, the representative of Suburban Broadband Limited, Mr. Pankaj Khandelwal, said the Development Agreement marked an important landmark for their organization, and that the project was a significant investment which will bring about socioeconomic growth and create jobs in the FCT.

On his part, the representative of Akida Hills Limited, Mr Bamisile Olukayode, appreciated the courage of the FCT Minister in carrying out major developmental tasks in the FCT.

He described the task of developing the Jabi Lake as “exciting” and promised that the project will be comparable to Times Square in New York and the Dubai Fountain Water Show and would turn Abuja to a destination city.

He assured that the development will place Abuja among world class cities all over the globe, adding that the project will be completed before the end of the year.

Nyesom Wike (right) presenting Certificate of Occupancy to the Chairman of Akida Hills limited, Architect Bamisile Olukayode, during the signing of a Development of Agreement between the FCTA and Akida Hills limited for the development of a recreational in Abuja on Friday.

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FCT Minister Barr Nyesom Wike (right) presenting a Certificate of Occupancy to the Managing Director of Suburban Broadband Limited, Mr Pankaj Khandelwal, during the signing of a Development Agreement between the FCTA and Suburban Broadband Limited for the development of a recreational hub in the FCC on Friday

General Counsel and Secretary, FCT Legal Secretariat, Barr Salman Dako, MD Suburban Broadband Limited, Pankaj Khandelwal and a Director at Suburban Broadband Limited, Barr Naseer Ahmed during the signing of development agreements between the FCTA and two International organizations for the development of a recreational hub in the FCC on Friday

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President Tinubu set to embark on visit to Kebbi

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President Bola Tinubu is set to embark on a one-day official visit to Kebbi State on Saturday, where he will inaugurate several projects executed by the state governor, Nasir Idris.

The announcement was contained in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, on Friday.

During the visit, the President will also serve as the special guest of honour at the 61st edition of the 2026 Argungu International Fishing and Cultural Festival, one of Africa’s most celebrated cultural events.

The festival is traditionally staged along the riverside of the historic Matan Fada and has received global recognition from UNESCO as an Intangible Cultural Heritage of Humanity.

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Nigeria committed to global fight against illicit drugs, Marwa assures US, other partners

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. .as NDLEA officers graduate from US-DEA training academy

The Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Mohamed Buba Marwa (Rtd) has reaffirmed Nigeria’s unwavering commitment to global cooperation in the fight against illicit drugs and transnational organised crime.
Marwa who stated this in his address at the graduation ceremony of NDLEA officers at the United States Drug Enforcement Administration (DEA) Training Academy in Quantico, Virginia, USA on Friday, 13th February 2026, called for a reinforced global offensive against transnational organised crime, asserting that the evolving sophistication of criminal networks demands a corresponding surge in law enforcement collaboration.
The NDLEA boss described the ceremony as particularly significant, noting that the course was dedicated to SIU members who paid the ultimate sacrifice in the line of duty. He paid glowing tribute to the fallen officers, describing them as heroes whose courage, sacrifice, and steadfast commitment to justice continue to inspire law enforcement personnel across nations.

Highlighting the course motto, “Different nations, shared duty, one fight,” Marwa said it aptly reflects the collective resolve of partner nations against transnational organised crime, stressing that criminal networks operate across borders and therefore demand a unified, coordinated, and intelligence-driven global response.
The intensive training programme brought together elite officers from Nigeria, Ghana, and Kenya, equipping them with advanced skills in diverse critical areas of their work.

Marwa expressed confidence that the knowledge and skills acquired would significantly enhance the operational capacity of participating agencies to disrupt drug trafficking networks and dismantle organised criminal cartels across the region. He charged the graduating officers to apply the competencies gained with integrity, professionalism, courage, and a strong sense of responsibility upon returning to their respective countries.

He expressed the appreciation to the United States Department of Justice, the DEA leadership, and instructors for their steadfast partnership, mentorship, and continued investment in capacity building.
The NDLEA boss emphasised that the graduation ceremony marked not the end of training but the beginning of renewed responsibility for the officers to uphold the highest standards of service, protect vulnerable communities, and confront criminality wherever it threatens societal stability.
He expressed optimism that the partnership between NDLEA and the DEA would continue to grow stronger, yielding sustained successes in the shared fight against drug trafficking and organised crime.

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