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The Federal Government has said it will not publish specific details of how it plans to spend funds drawn from its $5bn financing facility with First Abu Dhabi Bank.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the facility had already gone through the required approval process and was designed mainly to refinance more expensive government debt.

Oyedele spoke on Wednesday during a media briefing in Abuja, amid scrutiny of the financing arrangement and concerns raised by the International Monetary Fund and Fitch Ratings over its transparency and associated risks.

The Federal Government recently drew about $1.5bn from the $5bn Total Return Swap facility. The National Assembly approved the arrangement on March 31, 2026.

Responding to questions about whether details of the transaction would be made public, Oyedele said the government would disclose information on its spending but questioned why the Abu Dhabi facility was receiving particular attention.

“We will not publish how we are spending it. We will publish how we spend government money. There’s nothing special about that loan,” he said.

He added, “Nobody has asked us whether we’re going to publish the money we took from the World Bank, whether we publish the one from Eurobond, whether we publish the one from Sukuk. Why is this one special?”

Oyedele also rejected suggestions that the transaction bypassed due process, stressing that it had been presented to the National Assembly.

“The loan was approved not only by FEC, it was taken to National Assembly because what some people are doing is they comparing with other countries where they did it under the table,” he said.

“What else can be more public than what you gave to the National Assembly?”

The minister explained that the government was drawing the funds in phases to avoid paying costs on money that had not yet been used, while noting that the facility carried a flexible interest rate.

“We’re assessing it in phases. You don’t want to take all the money at once because if you don’t spend it at once, you incur cost on the extra amount you’ve taken,” he said.

Oyedele said the facility would allow Nigeria to benefit if interest rates fell, unlike existing fixed-rate debt.

“This First Abu Dhabi Bank transaction is flexible rates. It means if rates go up, we pay more. If rates come down, we benefit more,” he said.

He maintained that the government’s main objective was to refinance more expensive debt and reduce borrowing costs, while promising that the Ministry of Finance and the Debt Management Office would publish frequently asked questions on the facility in the coming days to provide further clarification.

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A Federal High Court sitting in Port Harcourt, Rivers State, has ordered Heritage Energy Operational Services Limited and the National Oil Spill Detection and Response Agency to commence the process of cleaning up an oil spill that has devastated Uzere Kingdom in the Isoko South Local Government Area of Delta State.

The order was contained in a ruling in Suit No. FHC/PH/CS/132/2026, filed by the Eric Omare Chambers on behalf of the Ovie of Uzere Kingdom, Udogri Isaac I, who is the applicant representing the Uzere Traditional Council and the entire Uzere community.

In the ruling delivered on Thursday, Justice Adamu Mohammed emphasised the need “to protect the environment and ensure compliance with due process.”

While directing the defendants to “clean up the affected sites and take measures to protect the environment from further harm”, the judge also ordered that “all ongoing oil and gas operations by the defendants in the Uzere Kingdom should be halted pending the resolution of the motion on notice.”

During the hearing, counsel for the plaintiff, N.O. Akporuvweku of E.K. Omare and Co. Chambers, emphasised that the court had previously directed the defendants to show cause regarding the environmental damage and that the necessary documents had been served.

The defendants, represented by O.O. Jarikre and Akomaye, acknowledged receipt of the motion and confirmed that discussions between the parties had been productive, with no objections raised to the application.

Highlighting the urgency of the situation, Justice Mohammed directed the defendants to file an interim compliance report with the court within 14 days.

The deadline, an extension from the initially proposed seven days, revealed the court’s commitment to ensuring that effective measures were swiftly taken to address the ecological damage caused by the oil spill.

The court’s decision was greeted with jubilation by residents of Uzere, who have long suffered the environmental and economic consequences of oil spills.

High Chief Odio Lucky, representing the plaintiff, said the ruling “represents a victory for the Kingdom.”

He added that “it is a critical step in safeguarding the livelihoods and health of the people.”

Uzere Kingdom is in Isoko South Local Government Area of Delta State.

It is a historic oil-producing community and hosts two major oil fields, Uzere East and Uzere West, with dozens of wells, commonly reported as about 43 wells producing around 53,000 barrels per day.

Multiple reports confirm a blowout/eruption at Well 14 in Oil Mining Lease (OML) 30, operated by Heritage Energy Operational Services Limited, also referred to as Heritage Operational Energy Limited or HEOSL.

Contamination of farmland, waterways, fishing grounds, and effects on livelihoods are documented by residents, community leaders, and groups.

Concerns persisted into early August 2026. Many community leaders called for urgent containment, remediation, and public release of investigation findings, according to reports.

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The Independent National Electoral Commission (INEC) has assured Nigerians that it will improve on the conduct of the Osun State governorship election ahead of the 2027 general elections.

The commission gave the assurance when it received a vote of confidence from a coalition of civil society organisations (CSOs), opposition political parties, ethnic nationalities and other democratic stakeholders, who commended its conduct of the Osun poll and rallied behind its Chairman, Prof. Joash Amupitan.

The coalition, led by the National Organising Secretary of the Action Peoples Party (APP), Comrade Obed Agu, made the position known on Thursday during a solidarity march to the INEC headquarters in Abuja.

Agu said the group was not at the commission’s headquarters to protest, but to appreciate INEC for what it described as the credible conduct of the Osun election and to encourage the commission to consolidate the gains ahead of the 2027 polls.

“We are here today not to protest. We are here to appreciate. We are here to say thank you to an institution whose conduct in the Osun State Governorship Election has renewed the confidence of many Nigerians in the electoral process,” he said.

According to him, representatives of political parties, ethnic youth organisations, community leaders, religious leaders, women leaders, civil society groups and other stakeholders had undertaken a two-day post-election assessment of the Osun poll.

He said the assessment covered INEC’s pre-election preparations, election-day conduct, security arrangements, results management and engagement with stakeholders.

Agu said the coalition consequently reached the conclusion that Amupitan had earned its confidence based on his conduct since assuming leadership of the electoral commission.

“Democracy requires that we judge people by their conduct. And today, after observing the Osun election, we say: judge Professor Amupitan by what he has done,” he said.

He identified engagement with political parties, adherence to electoral timelines, preparations for the 2027 elections and improved stakeholder engagement as some of the steps taken by the current INEC leadership that informed the coalition’s position.

Agu stressed that the commendation came with a responsibility for INEC to sustain and improve on the standard ahead of the 2027 general elections.

“We expect the same standard to continue. We expect an even higher standard in 2027. We expect every Nigerian voter to be treated equally. We expect every political party to be treated fairly. We expect every vote to count.

“We expect the Commission to remain independent, and we expect the electoral process to remain transparent,” he said.

The coalition commended President Bola Tinubu and security agencies for creating what Agu described as an environment that allowed the Osun election to take place without undue interference.

“Government can be powerful without using that power to determine electoral outcomes. That principle must continue into 2027,” he said.

Agu urged security agencies to maintain neutrality and professionalism during elections, while calling on politicians to allow voters to determine electoral outcomes.

“Our message to the political class is: let the people decide. And our message to Nigerians is: do not give up on democracy,” he said.

The APP national organising secretary said the Osun election had provided a new benchmark for Nigeria’s electoral process, pointing to voter turnout and the real-time uploading of polling unit results to INEC’s Result Viewing Portal (IReV).

“We recorded almost more than 40 per cent voter turnout. We saw where the upload of the EC8A was uploaded to the IReV in real time, and Nigerians were following up in real time,” he said.

Agu dismissed suggestions that the coalition’s commendation was influenced by the political party that emerged victorious in the election.

He said the assessment was based on the conduct of the election and not the identity of the winner.

“If the ruling party had won this election, and in every ramification, in all the indices being measured, we noticed that it was fair, free and credible, we would as well commend the commission that conducted the election,” he said.

He clarified the political classification of the party that won the election, noting that it should not be described as an opposition party in Osun because it was the ruling party before and after the poll.

Agu, however, warned that the coalition’s commendation should not be interpreted as an end to its scrutiny of the electoral process.

He said the 2027 general elections would present a much bigger test for INEC and urged Amupitan and his team to improve on the gains recorded in Osun.

“We have a bigger job coming up, that is the 2027 general elections, and we also ask INEC and the leadership of INEC to please do better than what they have done in Osun,” he said.

Receiving the coalition on behalf of the INEC chairman, the National Commissioner and Chairman of the Information and Voter Education Committee, Mohammed Haruna, thanked the group for its positive assessment of the Osun election.

Haruna said the conduct of the election was consistent with the commission’s commitment to conducting free, fair and credible elections.

“We thank you very much that you are happy with what had happened in Osun State. But it is consistent with what INEC has always stood for, which is that we are committed to conducting free, fair and credible elections,” he said.

He said the commission’s performance in elections had continued to improve, expressing confidence that subsequent elections would build on the Osun experience.

“As you agree with me, all the by-elections we have had, each one has always been better than the one before.

+So, consistent with that, God willing, the next general election—there are a few by-elections we will still have—there will be an improvement on Osun, and ultimately, the general election itself next year will be an improvement,” Haruna said.

He explained that he had been delegated by the commission to receive the coalition and its petition because the commission was holding its regular meeting at the time of the visit.

“I was delegated by the Commission to come and receive you, receive your petition, positive as it is, and then we will report back,” he said.

Haruna thanked the coalition and Nigerians for their continued participation in the electoral process, assuring that the commission would remain committed to improving the quality of elections in the country.