The National Assembly has formally received a request from President Bola Tinubu for the approval of a $21.5 billion external loan and a ₦758 billion domestic bond aimed at clearing outstanding pension liabilities.

The request was presented during Senate plenary and has been referred to the Senate Committee on Local and Foreign Debts for review.

The committee is expected to submit its report within two weeks.

The request, aimed at financing critical projects across various sectors of the economy, particularly infrastructure, health, education, and water supply, was read on the floor of the Senate during plenary today.

In a separate correspondence, President Tinubu asked the Senate to authorise the issuance of Federal Government bonds in the domestic debt market to cover unpaid pension entitlements under the Contributory Pension Scheme.

The proposed bond issuance amounts to ₦757.9 billion.

President Tinubu explained in his letter that the bond issuance would “address long-standing pension arrears and fulfil the government’s commitment to retired public sector workers.”

In addition to the external loan and pension bond, the President also requested approval to raise $2 billion from the domestic market to fund key sectors of the economy.

This request, like the others, has been referred to the Senate Committee on Local and Foreign Debts for scrutiny, with findings expected within two weeks.

Earlier, Tinubu sent a related letter to the House of Representatives seeking approval for a revised 2025–2026 external borrowing plan.

Under the plan, the President is seeking to borrow $21.5 billion, €2.2 billion, ¥15 billion Japanese yen, and a €65 billion grant.

The loans, according to the letter read by the Speaker, are targeted at addressing the country’s infrastructure deficit and improving employment, among other objectives.

The Labour Party has issued a public disclaimer regarding recent political activities involving its 2023 presidential flagbearer, Mr. Peter Obi, making clear that his involvement with a third-force coalition is not sanctioned by the party.

In a firm statement released on Sunday, the party’s National Publicity Secretary, Obiora Ifoh, stressed that Obi’s independent engagements with external political groups are in direct conflict with the party’s leadership and its internal procedures.

“The leadership of the Labour Party has observed with growing concern the recent political moves by Mr. Peter Obi, particularly his continued engagement with a coalition movement that operates completely outside the purview of the party,” Ifoh stated.

Despite Obi’s apparent indication of a return bid for the 2027 general election under the Labour Party platform, his recent appearance at a coalition meeting in Abuja has sparked internal controversy.

The event, according to party officials, occurred without the knowledge or involvement of the Labour Party.

“This act, done without consultation or consent, is a glaring show of disrespect and a direct challenge to the integrity of our internal democratic processes,” the spokesperson added.

While reaffirming its openness to all prospective candidates ahead of 2027, the Labour Party emphasized its commitment to preserving its organizational discipline and autonomy.

The leadership warned that it would not condone any activities aimed at dragging the party into unauthorized political alliances.

The statement concluded with a clear stance: the Labour Party is not a party to any merger talks or coalition deals, and it will actively oppose any attempt to integrate it into external political arrangements without formal approval.

The 2025 federal budget has come under renewed scrutiny following revelations by civil society organization BudgIT, which disclosed that the National Assembly inserted 11,122 projects totaling ₦6.93 trillion into the budget.

According to BudgIT, the inserted projects account for 12.61% of the ₦54.99 trillion approved for the year, raising concerns about transparency and the effective use of public funds.

A closer breakdown of these insertions shows that streetlight projects consume the largest chunk of funds.

BudgIT reports that ₦393.29 billion was allocated for the installation of 1,477 streetlights, with an implied cost of ₦266 million per streetlight.

Similarly, the budget includes 538 borehole projects with a total allocation of ₦114.53 billion, translating to ₦212.88 million per borehole, a cost critics argue is vastly inflated.

Information and Communication Technology (ICT) projects are also prominent in the insertions.

BudgIT’s findings indicate that ₦505.79 billion was budgeted for 1,122 ICT initiatives, meaning each project is estimated to cost ₦449.9 million.

In addition to these, ₦17.23 billion has been allocated for the construction of 53 community town halls, placing the average cost per hall at ₦325.09 million.

Educational and health sectors are not left out. The insertions include 561 education-related projects valued at ₦179.66 billion, alongside 319 health projects costing ₦420.09 billion.

Traditional institutions also feature in the budget with ₦6.74 billion set aside for traditional ruler empowerment initiatives.

Infrastructure-related additions include 1,380 road projects amounting to ₦1.44 trillion in total.

Notably, security spending includes ₦11.7 billion for the procurement of 24 security vehicles, which comes to ₦487.5 million per vehicle on average.

BudgIT has expressed alarm over the scale and nature of these insertions, stating they exemplify serious lapses in financial accountability and oversight.

A coalition of political stakeholders under the National Political Consultative Group (NPCG) has declared that the reelection of President Bola Ahmed Tinubu will not be determined by governors or legislators but by the Nigerian electorate.

Speaking after the group’s second expanded meeting held in Abuja, the NPCG (North) Chairman, Mr. Babachir D. Lawal, sharply criticized what he described as the growing impunity among elected officials.

He accused some of acting unilaterally and making political endorsements without consulting those they represent.

Lawal said, “The electorates hold the ace on who to pick as leaders at all tiers of government in the 2027 poll.”

In what appeared to be a subtle jab at the Senate, the Progressive Governors Forum (PGF) led by Senator Hope Uzodimma, and leaders of the National Assembly, who have already expressed support for Tinubu’s second term, the coalition accused them of overstepping their bounds.

They faulted the move as an attempt to usurp the democratic rights of the people: “The impunity of elected leaders who run away with the people’s mandate by purporting to make decisions for their constituents without consultation.”

“This act of endorsing other persons and themselves for re-election to political offices without reference to their constituents,” the group noted, “must be resisted.”

The coalition urged the public to hold these leaders accountable through the ballot: “The electorates should sanction them to serve as a deterrent to others who may follow the same path in the future.”

Looking ahead, the NPCG revealed plans to unveil a political platform that will prioritize the North’s interests and promote capable leadership in both political and public sectors.

“The region and indeed the nation need selfless leaders in the management of political parties and public sector governance,” Lawal emphasized.

To that end, the group resolved to extend its strategy across the 19 northern states and the FCT, using what it called an “appropriate template.”

As part of their broader vision, the coalition stressed the urgency of regional development.

“The region must prioritise and promote industrialisation and high productivity in all sectors in order to exit the present economic quagmire.”

Furthermore, they called for binding agreements from candidates seeking Northern support: “The North must premise its support for candidates at elections on enforceable agreement for the purpose of ensuring and protecting the informed interests of the region, irrespective of where the candidates come from.”

To implement its decisions, the group announced the formation of committees focused on execution.

The meeting gathered key political figures from across all 19 northern states and the FCT, with insecurity topping the agenda.

A keynote address was delivered by former Attorney General Abubakar Malami SAN, while goodwill messages were shared by notable leaders from other regions, including Mr. Rotimi Amaechi (South-South), Mr. Peter Obi (South-East), and Ogbeni Rauf Aregbesola (South-West).

The Enugu State Independent Electoral Commission (ENSIEC) has lauded Governor Peter Mbah for what it describes as “unprecedented” developmental achievements across Local Government Areas (LGAs) and rural communities in Enugu State.

In a statement released on Tuesday in Enugu, the Chairman of ENSIEC, Prof. Christian Ngwu, extended heartfelt congratulations to Governor Mbah ahead of his second anniversary in office, which comes up on May 29.

The statement, titled “Gov. Mbah’s Disruptive Transformation as Copied by LGA Leadership”, highlights the governor’s landmark initiatives, especially in deepening grassroots governance and empowering rural communities.

Ngwu commended the governor for strengthening local governance since September 2024 by ensuring the independence of ENSIEC and refraining from interfering in local council election processes.

He said this move has allowed LGAs to experience true governance.

According to him, “The governor remains an objective and impactful administrator, who has provided patriotic and unrelenting service to the state, which the council areas and rural people had immensely experienced, benefitted from and enjoyed.”

He emphasized the significance of Mbah’s bottom-up approach, noting that it has transformed the socio-economic landscape of rural communities.

“Gov. Mbah’s unique bottom-up approach to governance has brought the rural people to the front burner and lifted the fortunes of the state indigenes even for those living in rural council areas, where elected Chairmen and Councilors are superintendenting,” Ngwu said.

He highlighted the administration’s investment in security infrastructure, stating: “The governor has invested heavily in security by procuring 150 vehicles fitted with 360 degree surveillance cameras, fully equipped with communication gadgets; placing surveillance cameras and search lights in the whole Enugu, and building a security Command and Control Centre.”

Ngwu also pointed to massive infrastructure improvements: “Constructing and reconstruction of virtually all roads within Enugu metropolis and hundreds of new access roads outside the metropolis, thus making for ease of movement and opening up rural areas, local farming communities and local economic businesses.”

On social services, he sand “In education, healthcare and agriculture; everyone can spot the ongoing 260 Smart Schools; 260 Smart School Farms; 260 Smart Type-2 Primary Healthcare Centres and 260 Smart Farm Estates springing up in the 260 political wards, which are in council areas.”

The ENSIEC chairman also praised the governor’s agricultural vision, citing efforts to equip rural communities with farm machinery and inputs.

“Ngwu noted that the governor’s vision of acquiring 1,000 farm tractors; and distributing lots of farm inputs and seedlings was meant to turn agrarian communities into huge commercial agriculture and Agro-industrialisation centres with promises of hundreds of direct jobs.”

He added that the governor’s model is being replicated by LGA chairmen across the state.

“Today, all the 17 chairmen of the council areas in the state have copied the massive road construction trajectory of the state governor, constructing numerous asphalted roads and other earth roads to further open up rural areas,” Ngwu said.

He further stated: “The chairmen are constructing roads to the ongoing smart schools, smart type-2 PHCs and smart farm estates; providing scholarships; empowerment; tech training, bore holes, electricity transformers and energizing neighbourhoods, villages and communities within council areas.”

According to him, these local initiatives have, within just nine months of the council chairmen assuming office, brought significant benefits to the people.

“These moves within a period of nine months of the chairmen’s assumption of office have brought employment, democratic dividends, relief, and renewed hope of better days ahead for our council areas and millions of our people residing in them,” he said.

Concluding, Prof. Ngwu expressed ENSIEC’s appreciation and best wishes to the governor.

“On behalf of the commission, we heartily rejoice with Your Excellency in your two years of impactful leadership, developmental vision and trajectory that have given the state a positive outlook.

“On this auspicious anniversary, we appreciate God for Your Excellency’s vision for the state especially for millions of residents and citizens of Enugu State, which is marked by amazing grace and remarkable accomplishments.

“Indeed, OUR TOMORROW IS HERE.”