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House Approves President Tinubu’s N1.767trn Loan Request

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By Gloria Ikibah
The House of Representatives has granted approval for the implementation of the new external borrowing of N1,767, 610, 321, 779.00 (USD 2.209B).
The approval was sequel to the adoption of the recommendations of the House Committee on Aids, Loans and Debt Management Chaired by Rep. Abubakar Nalaraba, and presented at the Committee of the Whole on Thursday.
Presenting the report, the Committee Chairman, Rep. Nalaraba said the committee met and made the following recommendations, which he entreated the House to approve.
He said: “Approve the implementation of the New External Borrowing of one trillion, seven hundred and sixty seven billion, six hundred and ten million, three hundred twenty-one thousand, seven hundred and seventy-nine Naira (₦1,767, 610,321,779.00) (equivalent of USD2, 209, 512, 902. 22b) at the Budget
Exchange rate of USD1.00/800 in the 2024 Appropriation Act and that the amount should be raised from one or more sources. Namely; issuance of Eurobonds in the ICM, Issuance of debut sovereign Sukuk in the ICM, Bridge/syndicated loans, subject to market conditions;
“That based on availability and cost, to issue Eurobonds in the sum of USD1.70 billion or more, but not more than USD2,209,512,902,.22b, approved as New External Borrowing in the 2024 Act;
“Given the significant increase in the official exchange rate from USD1.00/₦800 to approximately ₦1,640, it is recommended that the exchange rate excess resulting from this adjustment be exclusively utilised for implementation of capital projects in 2024, to ensure that additional funds are
directed to impactful infrastructure & developmental projects that will contribute to the Nation’s long term growth and stability;
“Approve the Promissory Note Programme and Bond Issuance to settle outstanding claims and liabilities of the federal government. This approval prioritizes the issuance of Promissory Notes to address outstanding reimbursement debts owed to States, high-priority judgment debts, and other liabilities incurred by Federal Ministries, Departments, and Agencies. This measure is critical to preventing additional interest costs, mitigating further increases in the Federal Government’s debt profile, and reducing the debt-to-GDP ratio;
“That the Hon. Minister of Finance and Coordinating Minister of the Economy, working with the Debt Management Office are authorised to take all necessary actions required to give effect to this.”
The lawmakers unanimously adopted and passed the recommendations.
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DHQ Gives Updates on on Arrest, Trial of Simon Ekpa in Finland

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Nigerian Defence Headquarters, Abuja, has stated that Simon Ekpa, the self-proclaimed prime minister of the Indigenous People of Biafra (IPOB) will be extradited to the country to face charges against him.

Speaking on the arrest of Ekpa in a short press statement made available to SaharaReporters, the Director of Defence Information, Brig Gen Tukur Gusau, said the Chief of Defence Staff, Gen Chris Musa, was pleased with Ekpa’s trial.

Gusau wrote: “CDS is happy with his arrest in Finland, with the hope this will be a step towards his extradition to Nigeria so that he will face justice.”

Recall that the Finland district court in Lahti had ordered the remand of Simon Ekpa on probable cause for public incitement to commit a crime with terrorist intent in Nigeria.

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Ekpa was accused of using social media platforms to spread separatist propaganda linked to IPOB, a group advocating for the secession of southeastern Nigeria.

The court alleged that the offences dated back to August 23, 2021.

Finland authorities have also investigated Ekpa in the past for alleged financial crimes, including the collection of funds through questionable means.

The head of the investigation, crime commissioner Otto Hiltunen of the Central Criminal Police, stated, “The police suspect that the man has promoted his efforts from Finland with means that have led to violence against civilians and authorities as well as other crimes in the region of South-Eastern Nigeria. The man has carried out this activity, among other things, on his social media channels.”

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However, the remaining four suspects, accused of financing terrorism, are believed to have committed the crime in August 2022, also in Lahti.

These individuals, who are of foreign background, were born in the 1960s and 1970s.

Helsingin Sanomat (HS) reports that five suspects were arrested during the first week of the investigation, with police highlighting international cooperation during the preliminary phase.

It was previously reported that authorities suspect Simon Ekpa of being involved in the crime of collecting money unlawfully. In February 2023, Ekpa was arrested in a private apartment in Lahti.

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Ekpa was later released the same evening after being questioned.

At the time, police also disclosed that they had received multiple reports about Ekpa’s activities on social media. This prompted an investigation to determine whether he could be linked to other crimes.

Simon Ekpa is known in Finland as a local politician affiliated with the National Coalition Party.

He has served as a deputy councillor and represented the party on the Lahti region’s public transport board.

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Meanwhile, from his home in Lahti, he has used social media to call for election boycotts and support for Biafra’s independence efforts.

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I’m not too young or inexperienced to run for Lagos Governor – Speaker Obasa

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Speaker of the Lagos State House of Assembly, Mudashiru Obasa, on Thursday, said he had not given a serious thought about becoming the next governor of the state as was already being speculated.

He, however, said he is not too young or lack experience to run for Lagos governor, insisting that “those who have been before me are not better of.”

The Speaker said this in his remarks shortly after Governor Babajide Sanwo-Olu presented the state’s 2025 budget size of N3,005,935,198,401 to the assembly.

Obasa said his primary concern has been to strengthen his party, the All Progressives Congress (APC) in the state, while the governorship ambition is secondary.

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He said, “I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.

“To the blackmailers who have embarked on the mission to distort and redefine our mission, let me state it unequivocally here, our intention is to promote our party on the platform of Mandate.

“Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better of.”

The speaker also denied seeking a blood relation in Ojo to validate his candidacy to run as a governor of Lagos.

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“In addition, it is also important to correct the impression from some naysayers who have been insinuating that I made payment to seek for blood relation in Ojo to validate my candidacy to run as governor. Of course, I have never denied the fact that I am OBASA.

“But rather, I have never claimed to be related to Onikoyi, Oniru, or any of the other popular Lagos families as the case may be. I can indeed never run from the fact that I am related to my Obasa family in Ojo. But I do not need local validity to contest or run. If eventually I am contesting, I will do so from Agege,” he said.

Obasa noted that the budget was presented at a time complaints by Nigerians about the economy.

He, however, appealed to Nigerians to be hopeful as President Bola Tinubu’s administration works to ensure the nation’s economic recovery.

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Nigerian Catholic religious Sister Uti wins $1.2 million Opus Prize

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Sister Francisca Ngozi Uti, the founder and executive director of the Centre for Women Studies and Intervention (CWSI) in Abuja, Nigeria, has been named the laureate of the 2024 Opus Prize — a $1.2 million award recognizing transformative humanitarian work.

In her address during the Nov. 14 award ceremony at Santa Clara University, a Jesuit university in Silicon Valley, the Nigerian member of the Congregation of the Handmaids of the Holy Child Jesus (HHCJ) said that words could not express her joy.

“Did I ever imagine being nominated as the laureate? Honestly, no. Words seem inadequate to capture the depth of my joy. My heart overflows with gratitude,” Ngozi said.

“I never dreamed that the work my team and I have been doing in these remote communities would gain recognition not only within our state but beyond our nation’s borders crossing the Atlantic and reaching as far as the United States of America.”

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Ngozi thanked the Opus Prize jury, saying: “You believed and still believe in the work that my team and I do to alleviate the suffering and trauma of those marginalized through no fault of their own.”

By choosing CWSI as the 2024 Opus Prize winner, “you have placed a significant responsibility on us; to whom much is given, much is expected,” Ngozi said. “CWSI will not betray your trust. I accept this award on behalf of all the women, girls, and men who have partnered with us to bring about positive change in their lives and communities.”

“I remember especially the women and girls who have endured hardship and are now striving to rebuild their lives,” she added.

Reflecting on her ministry over the years, Ngozi credited her father for ensuring she received an education despite societal limitations.

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“Thank you, Papa. Your sacrifice was not in vain,” she said.

She also paid homage to HHCJ foundress Mother Mary Charles Magdalene Walker. “From her life of courage, resilience, and faith, I learned to entrust myself to God, allowing him to lead while I follow,” she said.

Ngozi also thanked the staff of CWSI, HHCJ leadership, and all those who have contributed to her mission.

“To the past and present staff of CWSI who have made countless sacrifices out of love for God and humanity, I am deeply grateful,” she said.

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Ngozi went on to congratulate her fellow Opus Prize finalists, including Jesuit Father Zachariah Presutti, founder and executive director of Thrive for Life Prison Project in New York, and Cătălin and Bianca Albu, the general manager and senior manager, respectively, for programs at Jesuit Refugee Service in Romania.

“This recognition is not just for me or CWSI. It is for every woman and girl whose resilience and courage inspire our mission. May God bless you abundantly for your generosity and support,” Ngozi said.

CWSI seeks to help women become politically aware, socially responsible, and economically independent for greater autonomy and parity with men.

The Abuja-based entity also advocates for the inclusion of women in government roles and for legal provisions to combat gender-based violence in five Nigerian states.

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The late Bishop Paride Taban was the Opus Prize 2023 laureate. The bishop emeritus of South Sudan’s Diocese of Torit was honored posthumously for founding the Holy Trinity Peace Village Kuron, where people from warring South Sudanese tribes live in harmony.

“Bishop Taban’s Holy Trinity Peace Village Kuron will receive the $1 million prize that recognizes social entrepreneurship championing faith-filled change,” the Opus Prize Foundation and Villanova University announced last year in a press release.

This story was first published by ACI Africa, CNA’s news partner in Africa, and has been adapted by CNA

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