Category: Nigerian Tribune

The Speaker of the Jigawa State House of Assembly, Rt. Hon. Haruna Aliyu Dangyatin, has urged Northerners to support President Bola Ahmed Tinubu’s bid for a second term in 2027, describing it as a ‘payback’ for the role played by Tinubu and the Southwest in the emergence of the late President Muhammadu Buhari.

Dangyatin, who is also the Jigawa State Coordinator of the City Boy movement, made the call while speaking with journalists shortly after the All Progressives Congress (APC) Jigawa Central Senatorial District stakeholders’ meeting held in Jahun, Jahun Local Government Area of the state.

According to him, Buhari’s emergence as president would not have been possible without the support of Tinubu and the people of the Southwest.

He said Buhari contested the presidency several times before eventually winning the election after receiving the backing of Tinubu and other political forces in the Southwest.

‘President Buhari contested more than once, but he could not succeed until he got the support of President Bola Ahmed Tinubu and the people of the Southwest.

‘So, this is a payback. It is about fulfilling the understanding between the North and South that when one side supports the other, the gesture should be reciprocated,’ he said.

The Speaker said the ongoing APC mobilisation across Jigawa Central was not the formal launch of the party’s 2027 campaign but a grassroots engagement designed to introduce candidates and strengthen the party ahead of the elections.

He explained that the exercise was taking place across local government areas under his leadership, with meetings involving ward executives, local government officials and other party stakeholders.

We are going to each local government to meet the ward executives, local government executives and party leaders to introduce our candidates, from the presidential candidate down to members of the state House of Assembly,’ he said.

Dangyatin expressed confidence that the APC would retain its support base in the area, dismissing the PDP’s previous success as a temporary setback.

‘This zone is squarely an APC zone. What happened last time was just a mistake and an internal issue. We are determined to reclaim it,’ he said.

On the current economic hardship in the country, the Speaker acknowledged the difficulties being experienced by Nigerians but urged citizens to remain patient with the Federal Government’s economic reforms.

He said reforms often come with temporary hardship before their benefits become evident.

‘If there are economic reforms in any country in the world, there must be some hardship. But if people are patient, I know that the hardship will go,’ Dangyatin said.

On 24 September 2026, the Supreme Court allowed INEC’s appeal in the dispute concerning Sections 77(5), 77(6), 77(7) and 84(2) of the Electoral Act 2026. It set aside the judgment of the Court of Appeal and restored the judgment of the Federal High Court.

The immediate consequence is clear, but it is worth stating it correctly. The Supreme Court did not make these provisions law. They were enacted by the National Assembly. What the Supreme Court has now authoritatively determined is that the provisions challenged before it are not unconstitutional on the grounds upon which they were challenged. That distinction matters.

The provisions remain part of the law governing our electoral process, and they must be treated accordingly. The reports of the judgment indicate that the seven-member panel, led by Justice Adamu Jauro, specifically upheld Sections 77(5), (6) and (7), as well as Section 84(2), and held that they were not inconsistent with the 1999 Constitution.

There is another point which deserves emphasis because it goes to the heart of the constitutional argument. Section 228(a) of the Constitution expressly empowers the National Assembly to make laws providing guidelines and rules to ensure internal democracy within political parties, including laws regulating the conduct of party primaries, congresses and conventions.

Indeed, in President, Federal Republic of Nigeria and Anor v National Assembly and Ors (2022), the Supreme Court considered the scope of this constitutional power and recognised that the legislative authority of the National Assembly extends to making laws concerning internal party affairs within the constitutional limits prescribed by Section 228(a). That is significant.

The autonomy of political parties is real. But it is not an autonomy exercised in a constitutional vacuum. Party autonomy operates within the Constitution and within legislation validly enacted pursuant to the Constitution. The Supreme Court’s present judgment must therefore be understood against that constitutional architecture.

There has been understandable public interest in the fact that the Court of Appeal had earlier reached a different conclusion. There is nothing unusual about that in the life of litigation. Courts sometimes disagree, and that is precisely why our judicial system has appellate courts. The important point is that the Supreme Court is the apex court.

Section 287(1) of the Constitution is unequivocal: ‘The decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court.’ That constitutional command is not ornamental.

The Supreme Court has now set aside the contrary decision of the Court of Appeal. The latter therefore cannot continue to be treated as the prevailing judicial position on the constitutional questions determined by the apex court. As the Supreme Court itself has repeatedly emphasised, its decisions bind the lower courts and must be given effect. The controversy has therefore moved from interpretation to compliance.

Sections 77(5), 77(6) and 77(7) concern the membership register of political parties and its use in congresses, conventions and primaries. Following the Supreme Court’s decision, these provisions should no longer be approached as though their constitutional validity remains an open question. They are operative provisions of the Electoral Act.

A political party that is required by law to submit a membership register to INEC cannot reasonably treat that register as a document that may be disregarded whenever it becomes inconvenient. The Supreme Court’s decision does not, of course, prevent whatever lawful administrative corrections or updates the Electoral Act or valid regulations permit. But the governing principle is straightforward. A statutory requirement cannot be reduced to a matter of political convenience.

The jurisprudence of the Supreme Court has long recognised that not every disagreement within a political party is justiciable. In Onuoha v Okafor (1983) 2 SCNLR 244, the Court established the traditional principle concerning the internal affairs of political parties. That principle has subsequently been considered in cases including Shinkafi v Yari (2016) and APGA v Anyanwu. But there is an important qualification. Where the legislature has expressly regulated an aspect of the electoral process, compliance with that statutory regime is a matter of law.

Indeed, in PDP v Lawal (2023), the Supreme Court recognised that an allegation of non-compliance with statutory requirements governing the nomination process could properly engage the jurisdiction of the courts. So, the proposition that political parties have internal autonomy cannot be stretched into a proposition that statutory electoral requirements are optional. Autonomy is not immunity from the law.

This is why Section 84(2) deserves equal attention. The same reasoning applies to Section 84(2), which provides for direct primaries or consensus as methods of nominating candidates.

The Supreme Court has now upheld the constitutional validity of that statutory framework in the case before it. The Court has not invented a new method of party nomination. Rather, it has determined that the statutory framework enacted by the National Assembly is not unconstitutional on the grounds presented in the litigation.

Political parties therefore need to examine their nomination procedures carefully and ensure that their internal processes conform to the Electoral Act. The principle is neither complicated nor controversial: Political parties are free to conduct their affairs within the law; they are not free to conduct their affairs outside it.

Therefore my word to political parties and aspirants will be to urge them to take this judgment seriously, and to do so without partisan colour. This is not a judgment that should be viewed simply as a victory for INEC or a setback for a particular political party. It is a judgment of the Supreme Court.

Every political party should therefore review its membership register, congress and convention arrangements, primary procedures, nomination guidelines and relevant electoral timetable against the Electoral Act as it now stands.

Aspirants should also do the same. No serious aspirant should leave the legality of the process to chance and hope to resolve it in court after the political contest is over. We have seen enough of that. A candidate should emerge from a lawful process, not become lawful merely because he or she has emerged. That distinction is worth remembering.

INEC should now give clear and practical effect to the judgment. Its guidelines and communications to political parties should reflect the law as it has been authoritatively interpreted by the Supreme Court, and it should make the relevant requirements clear, communicate applicable timelines properly and apply the law consistently to all political parties.

However, there is an equally important caution. INEC must administer the law; it must not make the law. The Commission cannot use its regulatory powers to add requirements that Parliament has not imposed, just as it cannot disregard requirements that Parliament has imposed and the courts have upheld. Its strength lies not in making electoral law, but in administering it fairly, faithfully and within the limits of its constitutional and statutory mandate.

And as patriots, we must learn to accept judicial decisions. This is a broader issue which, in my view, deserves attention. We must develop a stronger culture of accepting judicial decisions, particularly decisions of the apex court.

It is perfectly legitimate to disagree with a judgment. It is equally legitimate, where the law permits, to seek an appropriate judicial remedy. What is not acceptable in a constitutional democracy is for institutions or political actors to select the parts of a judgment that suit them and disregard the rest.

Section 287(1) does not say that Supreme Court decisions shall be obeyed when convenient. It says they shall be enforced. The rule of law cannot operate on a pick-and-choose basis. So we should let 2027 elections begin with compliance.

The 2027 elections are still ahead of us. There is therefore time for political parties and aspirants to look carefully at their processes, identify areas of possible non-compliance and correct them lawfully before they become disputes. That would be far better than conducting questionable processes today and asking the courts to rescue them tomorrow.

The lesson of this judgment, to my mind, is simple. The Supreme Court has settled the constitutional controversy before it. The Court of Appeal’s contrary decision has been set aside. The statutory provisions upheld by the Supreme Court remain operative.

The duty of political parties is to comply. The duty of aspirants is to understand the law before entering the contest. The duty of INEC is to administer the law fairly, consistently and within the limits of its statutory powers. And the duty of all of us is to remember that elections are not conducted in a legal vacuum.

Politics may be about competition. But the rules of that competition are determined by law. The Supreme Court has spoken. Let us now allow the law to do its work.

Immediate Past Chairman, Nigerian Society of Engineers (NSE), Ibadan branch, Ibraheem Folarin Bello FNSE, has advocated professionals, institutions and organisations to continually support the promotion of entrepreneurship, STEM education, innovation, research and practical skills development.

Bello, who is also the RTOC, Transmission Company of Nigeria (TCN) Osogbo Region, stated this as the guest of honour during the September cohort graduation ceremony of the tech innovation bootcamp of Shining Stars Global Impact Foundation (SSGIF), Ibadan.

He noted that the responsibility of leaders, professionals, institutions and organisations is to create an environment where talent can thrive. ‘When we empower young people with knowledge and opportunity, we are not simply preparing individuals for employment. We are building problem-solvers, entrepreneurs, innovators and future leaders. And that is why today’s event matters,’ he said.

Bello stated that the graduands have demonstrated the zeal to learn, adapt and prepare themselves for a rapidly changing world.

‘Technology is transforming virtually every sector of our society-engineering, agriculture, education, healthcare, finance, transportation, governance, manufacturing and entrepreneurship.

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‘Therefore, the knowledge you have acquired here should not end with today’s graduation. Let this graduation be the beginning, not the conclusion, of your learning journey. The world does not only need people who can use technology. It needs people who can use technology to solve problems,’ he said.

He, however, commended the Shining Stars Global Impact Foundation for investing in human capacity development through laudable initiatives.

‘In a world where technology is increasingly determining economic opportunities and social development, programmes that equip young people with relevant digital and innovation skills are extremely important.

‘Your investment in these young people is, in reality, an investment in the future.

I encourage the Foundation to continue expanding this initiative, build stronger partnerships with universities, industries, technology organisations and other stakeholders, and create pathways through which graduates of the programme can access internships, mentorship, entrepreneurship support and employment opportunities,’ he noted.

As Nigeria joins the world to mark World Teachers’ Day on 5 October 2026, the National Human Rights Commission (NHRC) has called on the Federal and state governments to urgently step up investment in teachers, schools and learning facilities, warning that the right to quality education cannot be guaranteed where teachers are poorly supported and schools remain unsafe or inadequately equipped.

The NHRC Executive Secretary, Chief Tony Ojukwu, SAN, said in a statement on Monday that improving Nigeria’s education system requires more than policy commitments, stressing that teacher welfare, professional development and decent working conditions are inseparable from the right of every child to quality education.

He therefore urged governments to prioritise education in planning and budgeting, particularly in rural, underserved and conflict-affected communities where children face greater barriers to learning. He described teachers as indispensable to the realisation of the right to education and the development of a society anchored on equality, human dignity and respect for human rights.

The NHRC boss called for regular professional training, timely payment of salaries, decent working conditions, manageable workloads and adequate teaching resources for teachers, noting that overcrowded classrooms, inadequate facilities and poor learning environments ultimately affect the quality of education available to children.

Ojukwu also urged governments to accelerate investment in functional classrooms, water and sanitation, electricity, digital learning facilities and disability-inclusive infrastructure, particularly in communities where educational facilities remain inadequate.

He stressed that children must be able to learn in environments free from violence, bullying, discrimination and other forms of abuse, adding that girls, children with disabilities and other vulnerable groups require particular attention to ensure equal access to education.

He therefore urged the National Assembly to pass the Safe Schools Bill into law without further delay. He added that Nigeria’s commitment to Sustainable Development Goal 4 and other national and international obligations on the right to education requires sustained action to recruit, train, motivate and retain qualified teachers while improving the conditions in which they work.

Ojukwu called on governments, education authorities, school administrators, parents and communities to move beyond declarations and take concrete steps to make quality, inclusive and safe education a reality for every Nigerian child.

‘Investing in teachers is investing in the right to education and the future of the country. A nation cannot guarantee quality education while its teachers are inadequately supported and its schools remain unsafe or poorly equipped. Government must translate education commitments and budgetary allocations into visible improvements in classrooms and in the lives of teachers and learners,’ he said.

Niger Governor, Umar Bago, has presented cheques of N5 million each to the families of illegal miners who died while in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Minna.

The governor also presented N2 million each to survivors of the incident, bringing the total financial assistance provided to N250 million.

Speaking at the presentation, Bago said the support was aimed at providing some relief to the affected families and survivors following the tragedy.

He commended the families of the deceased and the survivors for their perseverance and resilience during the difficult period.

Bago said investigations into the incident were still ongoing, adding that the committee set up by the state government would continue to verify claims as more people had come forward alleging that they were also involved in the incident.

The governor also disclosed that there had been additional deaths linked to the incident, including one reportedly caused by a gunshot during a demonstration by aggrieved youths.

He called on residents to desist from unprofessional mining activities, warning of the dangers associated with illegal and unsafe mining practices.

Bago further announced plans to establish a learning facility around the affected community, with teachers to be deployed to provide children in the area with access to education.

What appears to be mere academic dedication is silently setting thousands of children up for lifelong physical distress. Growing skeletons are delicate and pliable, making them especially vulnerable to continuous, unnatural physical stress during early developmental years.

In this article, Tribune Online examines how excessively heavy backpacks damage young spines, the dangerous warning signs parents must never overlook, and the practical daily steps required to protect children from permanent postural defects.

The unseen damage of the heavy school bag

When a child straps on a bag that exceeds safe physical limits, the human body instinctively seeks balance to avoid falling backward. The child responds by rounding their shoulders, bending the neck forward, and stooping deeply at the waist.

According to clinical guidance published by the American Academy of Pediatrics (AAP), prolonged carrying of overloaded backpacks forces the spinal column into unnatural compression, stressing ligaments, tightening muscles, and destabilising pelvic balance.

If this physical strain occurs five days a week over several school terms, bad habits harden into permanent deformities. The child risks developing postural kyphosis, which presents as an exaggerated hunchback, or functional scoliosis, an unnatural side-to-side curvature that develops when youngsters habitually throw heavy bags over only one shoulder.

The ten percent rule for spine safety

Medical specialists and ergonomic researchers agree on an exact mathematical formula that eliminates guesswork for parents at home. A child’s loaded school bag should never weigh more than 10 to 15 percent of their total body weight, with 10 percent serving as the safest baseline.

According to safety advisories from the American Chiropractic Association (ACA), allowing a child to carry loads above this critical threshold drastically alters their walking pattern and strains spinal discs.

This principle translates into straightforward math for Nigerian parents. If your primary four child weighs 30 kilograms, their school bag must never exceed 3 kilograms when fully packed with books, snacks, and water. Anything heavier strains the spine unnecessarily and pulls the neck out of its natural alignment.

Critical warning signs every parent must watch

Children rarely connect daily physical pain directly to the bag they strap on every morning, meaning parents must proactively observe their posture and habits. A frequent complaint of neck soreness, tingling in the arms, or aching shoulder blades after school hours is never normal childhood tiredness.

Physical clues provide immediate answers before chronic damage sets in. Watch how your child walks when fully dressed for school; if their head juts far in front of their chest, or if their red school uniform leaves deep, painful strap impressions across their shoulders, the bag is dangerously heavy.

Uneven shoulder height when standing naturally without the bag is another critical red flag. When one shoulder hangs noticeably lower than the other, or if the child constantly leans to one side while carrying their bag, their spine is already shifting to compensate for uneven load distribution.

Step-by-step guide to packing and adjusting school bags

Preventing spinal injury requires an active daily routine rather than occasional corrections. The following sequential adjustments guarantee maximum comfort and total spinal protection:

First, choose the right bag from the market. Avoid trendy single-strap sling bags or cheap sacks with paper-thin nylon bands, and select only sturdy backpacks fitted with two wide, thickly padded shoulder straps and an adjustable waist belt.

Second, pack the contents strategically by weight rather than convenience. Place the heaviest textbooks, binders, and hardcover exercise books completely flat against the rear wall of the bag, keeping the weight as close to your child’s spinal column as possible, while lighter items like pencil cases and snacks sit in front.

Third, adjust the shoulder straps so the bag sits flush against the upper back. The bottom edge of the backpack should rest exactly at the curve of the child’s lower back, never hanging more than four inches below the natural waistline or dangling loosely against their buttocks.

Fourth, enforce the two-strap rule without compromise. Allowing a child to casually sling a loaded bag over one shoulder distributes massive torque across a single side of the back, creating the exact muscular imbalance that triggers lateral spinal deviation.

Building strong posture habits beyond the backpack

Protecting a child’s back does not end at the school gate; daily habits at home play an equally vital role in strengthening spinal muscles. Nigerian pupils often spend long evening hours hunched over dining tables, beds, or smartphones doing assignments, which further worsens the neck strain created during the school day.

Provide a firm, supportive chair where the child can sit upright with both feet flat on the floor and knees bent at a 90-degree angle. Discourage doing homework while lying face-down on the rug or sprawling across mattresses, as these positions hyper-extend the neck and exhaust lumbar muscles.

Encourage outdoor play, running, and swimming over continuous sedentary screen time. Natural childhood physical activity strengthens the core and back muscles that keep the spine properly aligned, building a natural biological shield against the daily physical burdens of academic life.

The Conscience for Human Rights and Conflict Resolution (CHRCR) has called on the Kogi State Government to urgently recruit more teachers and improve infrastructure across the state’s educational institutions.

The Executive Director of CHRCR, Idris Miliki Abdul, made the call in a statement issued on Monday to commemorate this year’s Teachers’ Day.

Abdul described teachers as critical to the development of society, noting that professionals and leaders across different sectors, including doctors, lawyers, engineers, judges, governors and presidents, were products of the teaching profession.

He urged the state government to give teachers special attention by addressing manpower shortages, particularly in basic schools, while also rehabilitating schools requiring urgent intervention.

The human rights activist also called for the provision of affordable transportation across the 21 local government areas of the state to ease the burden on students and other citizens.

According to him, rising fuel prices have placed considerable financial pressure on students, making transportation increasingly difficult for many families.

Abdul expressed concern over what he described as the poor state of public transportation in Kogi State, saying the sector had largely been left in the hands of private operators.

He questioned the effectiveness of the Ministry of Transportation in addressing the transportation challenges confronting residents.

He lamented the decline of the state-owned Confluence Transport Company, saying its collapse had left its workers without jobs and deprived residents of a viable public transportation alternative.

The CHRCR director therefore appealed to the administration of Governor Ahmed Usman Ododo to declare a state of emergency in the transportation sector.

He further urged the state government to explore the Federal Government’s transportation initiatives and similar programmes being implemented by other states to cushion the effects of rising transportation costs on citizens.

‘Teachers are great people. Without teachers, there will be no doctors, lawyers, engineers, judges, governors and even presidents,’ Abdul said.

He commended teachers for their contributions to the development of society and called for policies that would improve their welfare and create a more conducive learning environment for students across Kogi State.

Nigerian social media personality, Alhaja Falilat Yusuf, popularly known as Ero Arike, has flaunted an access card she said would allow her into Aso Rock to meet President Bola Ahmed Tinubu while thanking her ‘enemies’.

In a video circulating online, Arike displayed the card while expressing excitement over the opportunity to visit the Presidential Villa.

She said the development was significant to her because she had repeatedly seen Tinubu in her dreams before eventually getting the opportunity to meet him physically.

‘I have been seeing him in my dreams. I was wondering what was happening. I saw him the first, second and third time. I didn’t know I will eventually see him physically,’ she said.

Arike also appeared to credit the criticism and opposition she had faced from Nigerians for helping her achieve the milestone.

‘Nigerians, my enemies, I can’t insult you. I love you because if you weren’t my enemies, I probably won’t move forward or be here today,’ she said.

She then thanked her critics and urged them to continue with their criticism.

‘Thank you and please continue,’ she added.

NIGERIA marked its 66th independence anniversary last week, but the nation confronts a stark economic irony. A country that once stood as a lender and contributor to the International Monetary Fund and the World Bank now ranks among their significant borrowers, even as its revenue receipts climb year after year.

Under General Yakubu Gowon, Nigeria once possessed sufficient reserves to lend $240 million to the World Bank and $120 million to the IMF. At the height of the 1970s oil boom, rising petroleum revenues strengthened the country’s foreign reserves and global economic position. In 1974 alone, Nigeria committed about $360 million to the two institutions.

World Bank records document the arrangement as a loan from Nigeria to the bank. Nigeria’s influence extended beyond finance; in the 1950s and 1960s, members of Saudi Arabia’s royal family reportedly travelled to University College Hospital in Ibadan for treatment.

Today, the picture has reversed. Nigeria holds more than $20 billion in original International Development Association credits and about $2.85 billion in International Bank for Reconstruction and Development loans. It currently has no outstanding IMF credit after repaying its remaining financing in 2025. From lender and medical destination to one of the World Bank’s larger borrowers and a source of medical tourism outflow, the transformation has been dramatic.

Debt trajectory under Tinubu administration

Nigeria’s external debt stock has risen by about $11.4 billion since President Bola Tinubu assumed office in 2023. It expanded from roughly $43.1 billion to $54.5 billion as of June 2026. The increase reflects a preference for foreign borrowing to finance economic reforms, budget deficits and development programmes.

Debt to the World Bank climbed from about $15.4 billion to $20.7 billion in the period. Major financing approved under the current administration included $2.25 billion for economic reforms in June 2024, $1.57 billion for the HOPE and SPIN programmes in September 2024, and $1.08 billion for education and resilience programmes in March 2025.

Meanwhile, the Federal Government is seeking a fresh $1.5 billion in financing from the World Bank through three loans targeting climate resilience, early childhood development and social protection.

This is coming after seeking $1.25 billion World Bank loan to support access to finance, digital services and electricity, while backing reforms in tax, trade and agriculture.

Nigeria returned to the international capital market in December 2024 with a $2.2 billion Eurobond ($700 million due 2031 and $1.5 billion due 2034). It followed with another $2.35 billion Eurobond in November 2025, bringing the total from the two issuances to $4.55 billion.

The country secured a $1.8 billion syndicated loan from First Abu Dhabi Bank and agreed a $5 billion derivatives financing arrangement in 2026, of which $1.5 billion had been drawn by June. Authorities have stressed that no oil revenues or strategic national assets were pledged as collateral, though the IMF has raised concerns about the complexity and transparency of derivatives-based financing, and Fitch has flagged liquidity and creditor-recovery risks.

Domestic debt has also risen sharply, from about N59.1 trillion to N91.5 trillion. The Debt Management Office reported total public debt of N166.79 trillion as of 30 June 2026-N91.59 trillion domestic and N75.20 trillion external. The federal government accounted for roughly N152.77 trillion, while states and the Federal Capital Territory held approximately N14.01 trillion. In dollar terms, the stock stood at about $120.93 billion.

Compared with N87.38 trillion at 30 June 2023, the nominal debt stock is about N79.41 trillion higher, or roughly 91 percent larger. An increase in the naira value of debt is not identical to an equivalent volume of new borrowing, given exchange-rate movements, yet the directional trend is unambiguous.

Rising revenue, larger financing gap

Federal Government aggregate revenue increased from N12.48 trillion in 2023 to N20.98 trillion in 2024-an increase of approximately N8.50 trillion, or 68.1 percent. By November 2025, revenue had reportedly reached about N22 trillion. The composition of 2024 revenue is revealing: gross non-oil revenue of N16.09 trillion exceeded its estimate by about N5.29 trillion, while oil revenue of N15.07 trillion fell about N4.93 trillion short of target.

Available records show that revenue growth has therefore been driven increasingly by taxation and other non-oil sources.

Yet the N20.98 trillion still fell approximately N4.89 trillion short of the 2024 budget projection, an 18.9 percent shortfall. Higher revenue has not closed the financing gap because expenditure has risen faster.

The approved 2026 budget provides for approximately N68.32 trillion in total expenditure against N36.87 trillion in projected revenue, producing a financing deficit of roughly N31.45-N31.46 trillion. Planned borrowing stands at N29.20 trillion, up from an earlier figure of about N17.89 trillion. The arithmetic is straightforward: revenue of roughly N36.87 trillion against expenditure of N68.32 trillion leaves a gap that must be filled by borrowing and other financing sources.

For example, Taiwo Oyedele, Minister of Finance and Coordinating Minister, said the resources generated through the reforms, alongside additional revenue and borrowing, gave the Federal Government incremental resources of N20.4 trillion during the period. However, the federal government’s incremental expenditure stood at N30.64 trillion.

Only recently, the Federal Government says it spent N9.39 trillion on wage adjustments, minimum wage increases and allowances for public servants between June 2023 and December 2025.

‘The implication of this is that the pressures we have on inflation is partly driven by these deficits because the government is spending more than it is generating, so it is pumping a lot of liquidity into the economy which is coming from Ways and Means funding,’ according to the Chief Executive Officer, Cowry Asset Management Limited, Johnson Chukwu.

Where the money is going

The 2026 budget allocates approximately N32.2 trillion to capital expenditure, N15.8 trillion to debt service, N15.4 trillion to recurrent expenditure and N4.799 trillion to statutory transfers. Capital spending represents roughly half the total budget. Major sectoral allocations include about N5.41 trillion for defence and security, N3.56 trillion for infrastructure, N3.52 trillion for education and N2.48 trillion for health.

The economic rationale is clear. Infrastructure can reduce transport, energy and logistics costs. Agricultural investment can expand production and agro-processing. Education and health can raise human capital and labour productivity. Security can make commercial activity safer. Energy investment can increase electricity supply and lower production costs. These are valid channels through which public investment can generate future growth.

An allocation, however, is not an investment until the money is efficiently spent and produces a functioning asset.

The government’s own 2026 Budget Speech supplies sobering evidence on execution. As of the third quarter of 2025, revenue stood at N18.6 trillion-only 61 percent of target-while expenditure reached N24.66 trillion, about 60 percent of target. Only N2.23 trillion had been released for 2024 capital projects as of June 2025, and merely N3.10 trillion, or approximately 17.7 percent of the 2025 capital budget, had been released by the third quarter of 2025.

In 2024, the Budget Office reported that N5.81 trillion was released and cash-backed for capital projects, yet only about N3.27 trillion had been utilised by ministries, departments and agencies as of 30 June 2025.

Implementation periods have been extended, with the 2025 capital budget initially carried into June 2026 and now December 2026 to allow completion of ongoing projects. The size of the capital budget therefore does not prove that N32.2 trillion of productive investment will actually materialise.

Interest burden and fiscal cycle

The IMF’s 2026 Article IV assessment places the fiscal position in sharper perspective. Federal Government revenue is projected at 4.9 percent of GDP, expenditure at 9.2 percent, capital expenditure at 3.8 percent and the deficit at about 4.3 percent of GDP. Consolidated government revenue and grants stand at approximately 10.8 percent of GDP against total expenditure of about 15.5 percent, yielding an overall balance of roughly -4.7 percent of GDP.

The most critical indicator is interest payments as a share of Federal Government revenue: 40.8 percent in 2024, 53.2 percent in 2025 and a projected 53.7 percent in 2026. More than N50 of every N100 of federal revenue is absorbed by interest. Even when revenue rises, a large proportion is immediately committed to servicing existing debt.

The resulting cycle is difficult: more revenue creates capacity to service debt, yet high interest costs consume much of the additional revenue, leaving less for new productive investment.

The question arises: is the additional borrowing paying for itself? The precise answer is that it has not yet been demonstrated. This does not mean every naira borrowed has been wasted, nor that the economy has failed to improve.

Reserves have strengthened, growth has hovered around four percent and the external position has improved. It means there is currently insufficient evidence that the additional borrowing is generating incremental economic output and government revenue at a rate sufficient to exceed the full cost of the debt.

Analysts believe that Nigeria can simultaneously experience economic growth, improved reserves, higher revenue, higher debt and very high interest costs. The decisive test is whether the marginal return on new borrowing is high enough. The productive cycle requires borrowing to finance completed and functioning assets that raise productivity, stimulate private investment and activity, lift household and business incomes, increase tax revenue and thereby lower the relative debt burden. The alternative cycle is what Nigeria experiences today-borrowing that largely services interest, finances recurrent spending or low-return projects-produces insufficient productivity gains and additional revenue, necessitating further borrowing.

Expert assessment and the debt-trap risk

Emeritus Professor of Economics Akpan Hogan Ekpo of the University of Uyo, former Director General of the West African Institute for Financial and Economic Management, cautions that nominal debt-stock comparisons can mislead. The relevant metrics are the debt-to-GDP ratio, debt-to-revenue ratio and debt service-to-revenue ratio. Nigeria’s debt-to-GDP ratio of around 38 percent remains within the IMF’s 40 percent benchmark. Debt service relative to revenue, however, is far more concerning and has reportedly exceeded 60 percent in recent periods.

‘GDP does not pay debt; revenue pays debt,’ Professor Ekpo emphasises. Nigeria faces a severe revenue challenge, with continued dependence on volatile oil exports, many of which have been securitised through forward sales. He notes that previous administrations front-loaded concessional loans whose grace periods have now expired, and that the current government inherited maturing obligations, including formalised Ways and Means advances.

As long as debts are serviced on schedule, a full-blown crisis is not at hand. Yet borrowing should not be the default response. Public-private partnerships, contractor financing and stronger domestic resource mobilisation remain available options. Transparency and rigorous feasibility studies are essential so that projects pay their way rather than transferring the burden to future generations.

A debt trap arises when a government borrows so extensively that it becomes increasingly difficult to repay existing obligations without taking on additional loans. Rising debt and interest payments absorb more revenue, leaving less for development, which in turn prompts further borrowing. Low revenue, high interest rates, excessive borrowing, weak growth, unproductive use of funds and exchange-rate depreciation can all accelerate the cycle. Nigeria’s present position exhibits elements of pressure without constituting an irreversible trap-provided the capital programme delivers measurable returns.

Decisive question

Nigeria is borrowing more not because revenue has failed to rise, but because expenditure and financing requirements have risen faster still. The 2026 budget illustrates the scale of the gap: N68.32 trillion in expenditure against roughly N36.87 trillion in revenue, with N29.20 trillion in planned borrowing and N32.2 trillion allocated to capital spending. The potential exists for borrowing to finance productive development. The decisive issue remains execution and economic return.

The interest burden has become extremely high. Public debt reached N166.79 trillion by 30 June 2026. The economy is growing and the external position has strengthened. The factual conclusion is therefore measured: Nigeria is experiencing genuine macroeconomic improvement, yet the available evidence does not yet demonstrate that the additional borrowing is generating sufficient incremental output and revenue to cover its full financing cost.

The real question is no longer how much Nigeria is borrowing. For every naira borrowed, what productive asset has been created, what additional economic output has it generated, and how much additional government revenue will it ultimately produce? That is the objective test of whether rising borrowing is financing productive development or merely increasing the future debt-service burden. At 66, Nigeria’s economic story is still being written in the answers to those questions.

Experts in the integrated marketing communications sector have urged marketing practitioners in the country, desirous of staying relevant, to brace up for the new market reality that is increasingly enhancing the relevance of consumers.

The experts gave the charge at the Media Consortium Conference and Awards, held in Lagos.

They admitted that value is gradually shifting, with the modern-day consumer getting more informed, empowered, and increasingly value-centric, a development they believed would require marketing practitioners and brand custodians to devise strategies that would enable them to see such consumer beyond a mere buyer, but also a decision maker and part of the brand-building process.

In her keynote speech tagged: ‘The Value Shift: Strategies for the New Market Reality in the Age of the Empowered Consumer,’ President, National Institute of Marketing of Nigeria (NIMN), Dr Bolajoko Bayo-Ajayi, described today’s consumer as the ‘most dangerous’, due to the humongous information at their disposal.

According to Bolajoko, who was represented by Femi Adeniba, Managing Partner at Sustmark Consult, the present-day brand has lost marketing control. Unlike the old arrangement, when the consumer only listened while such brand told its story, today’s consumer no longer waits for the brand to explain the market before taking decisions, due to the huge information at such consumer’s disposal, she argued.

The NIMN boss attributed the development to the advent of internet, social media, smartphones, e-commerce, fintech, creator economies and now Artificial Intelligence (AI), which, she stated, had successfully transferred the market power from the seller to the buyer.

‘The consumer gained information, then choice, then voice, and increasingly, intelligence. Today, you can control your advertisement, but not what customers say about it. You can control your website, but not what customers say about their experiences. You can spend millions buying attention, but you cannot force people to care,’ she stated.

She described the case of the Nigerian consumers as even more interesting, since they are becoming more demanding and choosy due to the prevailing economic downturn in the country.

She said while the consumer is concerned about pricing and would always demand a fair price, such consumer has also become value-centric, which makes her want to get high value for products purchased.

Bolajoko, therefore, wondered what becomes of today’s marketing practitioners after being stripped of the power to control the market and conversations surrounding their brand.

The first female president of NIMN argued that value shift and the new market reality have made it imperative for marketing practitioners to come up with strategies that will not only see the Nigerian consumer as price-sensitive, but also value-driven, due to the economic pressure and extraordinary aspiration she is facing.

She stressed the need for marketing practitioners to always deliver on their brand promise, since brand promise elicits consideration from the buyer.

‘Marketing must increasingly move into product development, pricing, customer experience, data, technology and business strategy. We often say, ‘The customer is at the heart of everything we do.’ But let us test that claim,’ she added.

According to her, one of the responsibilities of the NIMN is to ensure practitioners move beyond making products attractive by ensuring the marketing profession evolve, to enable future and practising marketers understand data, AI, behavioural science, customer experience, digital ecosystems, sustainability, analytics and commercial accountability, without losing the human understanding at the heart of marketing.

For Bolajoko, NIMN has a responsibility to move the profession beyond qualifications and professional recognition, but also ensure that the market does not move faster than the profession.

Speaking in a similar vein, Head, Digital, Globacom, Femi Opadere, also corroborated the claim of the new market reality, where the consumer decision is no longer informed by how catchy a product advert is.

He said the present-day consumer expects relevance, convenience, trust, value and voice, adding that while the consumer of the past listened and bought, with the brands doing all the thinking, the present-day consumer compares and validates before choosing.

Co-Founder, Media Consortium, Godwin Anyebe, explained that the conference theme was informed by the need to discuss the new market reality, which, he argued, requires more than incremental adjustments, but bold, forward-looking strategies, deep cross-sector collaboration, and an unwavering commitment to customer-centric innovation.