Author: Damilola Olufemi

At least 20 Nigerian states collectively borrowed nearly N458bn in the first half of 2025, despite enjoying a surge in federal allocations within the same period. Fresh loans were taken against the backdrop of worsening debt servicing costs. States spent about N235.6bn on external debt repayments between January and June, a 68 per cent jump from the N139.9bn recorded a year earlier. The increase reflects the burden of dollar-denominated obligations made heavier by the naira’s decline. Data from the National Bureau of Statistics shows that the Federal Account Allocation Committee disbursed N10.13tn across all levels of government in the first…

A former Governor of Oyo State, Rashidi Ladoja, was on Friday, September 26, 2025, officially crowned as the 44th Olubadan of Ibadanland, marking a significant moment in the rich traditional history of the ancient city. The coronation ceremony took place at the Ose Meji Temple in Ibadan South-East Local Government Area, where Oba Ladoja received his royal title in accordance with longstanding custom. Earlier in the day, he was adorned with the sacred Akoko leaf at the Labosinde Compound, Oja’ba, a crucial step in the traditional rites leading to his ascension. The demise of the 43rd monarch of the ancient…

Syria’s President Ahmad al-Sharaa has addressed the United Nations General Assembly in New York, marking the first time in nearly 60 years that a Syrian head of state has spoken at the world body.

Damilola Olufemi, Fatimah Idera Following the end of the six-month emergency rule in Rivers State, headed by ex-administrator Ibok-Ete Ibas, the Federal Government declared that Governor Siminalayi Fubara, his deputy, and members of the State House of Assembly were free to return to office on September 18. The Rivers State House of Assembly, presided over by Speaker Martin Amaewhule, resolved to investigate expenditure during the emergency rule. According to the resolution, the probe is “to explore the process of knowing what transpired during the emergency rule with regard to spending from the consolidated revenue fund for the award of contracts…

President Bola Tinubu on Wednesday evening held a closed-door meeting at the State House in Abuja with Ibok-Ete Ibas, the former sole administrator of Rivers State. Ibas, a retired naval officer who managed the state during the six-month emergency rule imposed by Tinubu in March, arrived at the villa shortly before 6 p.m. He was joined by Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), and Wale Edun, minister of finance. The purpose of the meeting was not immediately disclosed. Tinubu had declared emergency rule in Rivers following a deepening political crisis that led to the suspension…

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has opted to cut the benchmark interest rate to 27 per cent, a decision that ends three straight pauses and marks the first policy easing of 2025.

Osimhen’s return would represent a substantial advantage for the reigning Turkish champions in both their Super Lig and UEFA Champions League campaigns.

Brazil’s Attorney General has filed coercion charges against Eduardo Bolsonaro, the son of former president Jair Bolsonaro, accusing him of abusing his congressional office to protect family interests at the expense of the republic.

Economists argue that debt itself is not inherently harmful but becomes dangerous without accountability.

Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, according to the latest GDP report released by the National Bureau of Statistics (NBS) on Monday. The growth marks a notable improvement compared to 3.48% recorded in Q2 2024 and 3.13% in Q1 2025, signaling stronger economic performance supported by the recent GDP rebasing, higher oil production, and a resilient non-oil sector. “Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates. Gross…