Breaking: Tinubu writes Senate, seeks approval to borrow $5 billion

PRESIDENT Bola Tinubu has written the Senate seeking approval to borrow $5 billion.

In a letter to the President of the Senate, Senator Godswill Akpabio, which was read on Tuesday during plenary, the loan will be obtained from Abu Dhabi Bank and it is aimed at covering budget deficit, debt financing, among others.

In another letter to the Senate, President Tinubu is seeking approval to borrow $1 billion UK/EF loan facility from London Citi Bank for the rehabilitation of port projects, including Lagos Port complex and Tin Can port.

According to the President, the project’s objectives are to address critical deficiencies, improve efficiency, improve safety standards, support non-oil trade diversification and position Nigeria as a trade hub among others.

Akpabio then referred the letters to Senator Aliyu Wammakko-led Senate Committee on Local and Foreign Debts to carry out legislative actions on the request and report back immediately.

Details later…

Comments

JUST IN: If Tinubu Had Told Me, I Wouldn’t Have Agreed To Rivers State Of Emergency Rule – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that he would not have agreed with President Bola Ahmed Tinubu if he had discussed his move to declare a State of Emergency in Rivers State. Wike noted that he is not in conflict with the suspended Rivers State Governor, Sim Fubara He stressed his opposition on the State of Emergency rule, stating that only the President knows the right time to lift it. While speaking to journalists in Abuja on Monday, Wike remarked that Fubara has permitted himself to be manipulated by his adversaries to oppose him. The FCT Minister said: “ I made it clear that this impunity will not stand, so what is happening in PDP is what I call undertakers because I see no reason why you will put yourself under that kind of crisis. “I don’t have any crisis with him (Fubara). I’m not the President who declared a State of Emergency; if Mr President had called me, I wouldn’t have agreed to the State of Emergenc...

Breaking: ASUU suspends 2-week warning strike

The Academic Staff Union of Universities, ASUU, has suspended its two-week warning strike it declared last week across all public universities in the country. The union announced the suspension on Wednesday at a press conference held at its headquarters in Abuja. President of ASUU, Chris Piwuna, who read a prepared speech before newsmen, explained that the development followed intervention by the Senate and some other well-meaning Nigerians. However, he sad the National Executive Council of the Union resolved to give the government a one-month window to address all contending areas.

Woman Burned to Death, Accused of Kidnapping 7yrs Old Boy in Delta

By Tessy ogbemi An angry mob set ablaze a woman accused in a failed child kidnapping attempt in Agbarho community, Ughelli North Local Government Area of Delta State. The incident happened on Wednesday, September 24, 2025. An eyewitness disclosed at the scene of the incident at Ekwvere Road claimed that the woman hid the seven year old boy she allegedly abducted in a sack, adding that she was even carrying a Bible on one hand. Community sources said some residents in the area accosted the lady when they observed the way she was dragging the sack, to know what she had in it. "She was unstable when they asked her to disclose what she was carrying in the sack. When the bag was forced open, they found a seven year old child in it. They shouted and it attracted a large crowd,” a source said. It was gathered that the angry mob immediately brought a used tyre to the scene, which they forced down her neck after beating her to a pulp. “The lady and the tyre we...

FocalPoint Reports

Search This Blog