President Bola Tinubu’s government is reportedly negotiating a fresh $1.25 billion loan facility with the World Bank to support economic reforms, job creation, and investment growth. The proposed facility were contained in a World Bank document titled “Nigeria Actions for Investment and Jobs Acceleration.” According to Channels Television, the document showed that the negotiations have reached an advanced stage, with the proposed facility expected to be presented for approval on June 26, 2026. The development indicates that the loan request has moved beyond the concept and appraisal phases and is now approaching final consideration by the World Bank’s Board of Executive Directors. If approved, the facility would rank among Nigeria’s largest recent borrowings from the global lender, behind only the $1.5bn Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing approved in June 2024. The document identified the borrower...
Senator Adams Oshiomhole has called on Senate President Godswill Akpabio to resign over the recent amendment to the Senate Standing Orders guiding the election of leaders in the Red Chamber. Oshiomhole made the call while speaking with journalists in Abuja on Thursday. The former Edo State governor said the new rules had created what he described as a moral problem within the Senate. According to him, the amendment has raised questions about fairness and the qualifications needed to occupy top positions in the chamber. The Edo North senator argued that Akpabio should not continue to preside over the Senate if the new requirements are applied strictly. He said the Senate President himself may not meet the condition being discussed under the amended rules. Oshiomhole explained that the new arrangement demanding longer years of service before anyone can contest for Senate President would also affect Akpabio. He noted that Akpabio had not spent up to eight years in the Sen...