News
Nigeria will reduce external borrowing, Edun tells World Bank
The Federal Government has informed the World Bank of its desire to reduce Nigeria’s dependence on external debt financing.
This is part of a broader strategy to explore alternative funding sources beyond traditional multilateral loans.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this disclosure during a meeting with the World Bank Executive Director, Dr. Zainab Shamsuna Ahmed.
He reiterated the government’s focus on fostering a business-friendly environment that attracts sustainable investments and drives private sector-led growth.
Dr. Ahmed, who is the immediate past Minister of Finance, commended Nigeria’s macroeconomic reforms, noting their role in improving fiscal stability and boosting investor confidence.
She also pointed out the recent financial reforms at the World Bank that have expanded its lending capacity, making an additional $150 billion available over the next decade.
One of the key topics discussed was Nigeria’s role in Mission 300, the World Bank’s initiative aimed at providing electricity access to 300 million Africans. Edun insisted on Nigeria’s commitment to the programme, stressing that improved power infrastructure is crucial for economic growth, industrial expansion, and enhancing private sector competitiveness.
The Minister assured the World Bank that President Bola Tinubu remains focused on strengthening Nigeria’s economic foundation, reducing reliance on external borrowing, and promoting long-term economic growth through private sector investments.
By Gloria Ikibah
Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu, has extended warm wishes to Nigerian workers as the country marks the 2025 edition of International Workers’ Day.
Kalu praised workers across various sectors for their commitment and resilience, describing them as the engine that keeps the nation moving. He acknowledged their sacrifices and unrelenting drive, especially during tough economic times.
In his message, he highlighted the efforts of the current administration under President Bola Tinubu to improve the welfare of public servants. He referenced the National Assembly’s prompt backing of the new minimum wage as a sign of the government’s seriousness about workers’ wellbeing.
The Deputy Speaker appealed for continued patience and understanding from Nigerians, noting that the ongoing economic reforms, while challenging, are designed to bring long-term relief and prosperity.
Kalu also called for unity, and said the country can only overcome its present difficulties if citizens and leaders work together in good faith.
He therefore urged workers to keep the faith and remain steadfast in their duties, assuring them that brighter days are on the horizon, and wished Nigerian workers a peaceful and fulfilling May Day celebration.
The Osun State Chapter of the People’s Democratic Party (PDP) has received thousands of decampees from the All Progressives Congress and other political parties into its fold.
The decampees, who are mostly from the Omisore Youth Support Forum (OYSF) joined the party at a ceremony held at party secretariat in Osogbo, the capital of Osun State, on Wednesday.
The were received by the Chairman of the PDP in Osun, Hon. Sunday Bisi, former Deputy Speaker of the House of Representatives, Lasun Yusuff and other party leader.
While receiving the decampees, Bisi renamed the group as Adeleke Youth Support Forum (AYSF) as they declared their support for Adeleke’s 2026 re-election bid.
One of the leaders of the decampees, Mr Francis Fasogbon said they were “inspired by the good governance delivered by Governor Ademola Adeleke”.
Hon. Dennis Agbo, representing Igboeze North/Udenu Federal Constituency in the 10th House of Representatives, has resigned from the Labour Party (LP) and defected to the Peoples Democratic Party (PDP).
Addressing aa gathering in his ward, Ezzodo, Agbo cited his admiration for Enugu State Governor, Dr. Peter Ndubisi Mba’s performance, as the reason for his decision.
“I acknowledge Governor Mba’s outstanding work, and I believe it’s essential to support him,” Agbo said. “As a federal legislator from Enugu State, I’m joining hands with him to provide a link between the state and federal government, promoting the good work he’s doing to uplift our state.”
Agbo, who was elected on the LP ticket, expressed his desire to work with Governor Mba, citing the governor’s vision and achievements since his inauguration in 2023.
He also emphasized that the internal crisis and division within the Labour Party was part of the factors influencing his decision to leave the party and return to PDP.
The lawmaker invited his supporters and members of Labour Party to a formal ceremony marking his transition to PDP, scheduled for May 1, 2025, at the PDP State Secretariat in Enugu.
-
Metro14 hours agoGunmen storm University of Benin teaching hospital, kill doctor
-
Metro15 hours agoFCTA destroys 601 motorbikes over violations
-
News6 hours agoAlleged money laundering: EFCC produces Aisha Achimugu in court
-
News15 hours agoJust in: FG declares tomorrow public holiday
-
News8 hours agoJUST IN: Major General Paul Ufuoma Omu Rtd, dies at 84
-
News10 hours agoSAD! Professor’s son takes own life inside varsity staff quarters
-
News8 hours agoTinubu hails Dangote’s World Bank appointment
-
News14 hours agoFull list: FG approves N110bn to rehabilitate medical schools 18 institutions