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Senate approves FG’s $6bn loan request

*Nigeria’s debts to hit N155trn *Experts highlight  naira depreciation, debt service risks *Atiku slams Tinubu, Senate over $6bn loan approval in 4hrs Nigeria’s total debt stock is set to rise to N155.1 trillion, following an additional $6 billion loan request by President Bola Tinubu, hurriedly approved by the Senate yesterday. The $6 billion loan at an exchange rate of N1,400 per dollar, adds N8.4 trillion to the country’s debt stock which stood at N146.69 trillion at the end of 2025, to N155.1 trillion. Experts, however, warned that the new borrowing comes with huge foreign exchange risks and will lead to worsening of the federal government’s debt service-to-revenue ratio, which is estimated at 60 per cent by the end of 2025.  The approval for the $6 billion  yesterday  came barely three and half hours after the President of the Senate, Senator Godswill Akpabio, read the letter from the President, seeking the approval. Former Vice President, Atiku Abubakar, flayed...

27 Reps defect as APC strengthens majority in House

Reps: APC 280, PDP 38, ADC 15, LP 12, NNPP 5, Accord 2, APP 2 NO fewer than 27 members of the House of Representatives, yesterday, announced a change in party affiliation, triggering a fresh realignment within the lower chamber, with the All Progressives Congress, APC, emerging the biggest beneficiary. Following the defections, the APC gained about 14 lawmakers, despite losing two members, bringing its total strength in the House to approximately 280. Peoples Democratic Party, PDP, which remains the largest opposition party, now has 38 members. The African Democratic Congress, ADC, increased its membership to 15, while Labour Party now has 12 lawmakers. New Nigeria Peoples Party, NNPP, which initially had 18 members, has seen its number dwindled to five, while Accord  and Action Peoples Party, APP, now have two members each. This marks a significant shift from the composition at the inauguration of the 10th Assembly on June 23, 2023, when  APC held about 181 seats against the ...

I’m still active — Atiku

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*Dispel claims of political retirement Former Vice President Atiku Abubakar, has dismissed reports suggesting his withdrawal from active politics, labelling the claims as a “calculated lie” designed to undermine the growing momentum of African Democratic Congress, ADC. In a statement by Phrank Shaibu, Atiku’s Senior Special Assistant on Public Communication, dismissed allegations that the Waziri Adamawa had met with ADC stakeholders to announce he was “stepping aside.” Shaibu explained that while Atiku recently engaged with stakeholders in Adamawa State, no such meeting occurred at the national level nor had any decision been made to exit the political stage. “A matter as grave and consequential as withdrawing from active politics is not, and will never be communicated through anonymous leaks, street-corner gossip, or faceless propaganda,” Shaibu stated. He emphasised that any such decision would be “formally and unequivocally announced through the appropriate channels.” Shaibu describ...

27 Reps defect as APC strengthens majority in House

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NO fewer than 27 members of the House of Representatives, yesterday, announced a change in party affiliation, triggering a fresh realignment within the lower chamber, with the All Progressives Congress, APC, emerging the biggest beneficiary. Following the defections, the APC gained about 14 lawmakers, despite losing two members, bringing its total strength in the House to approximately 280. Peoples Democratic Party, PDP, which remains the largest opposition party, now has 38 members. The African Democratic Congress, ADC, increased its membership to 15, while Labour Party now has 12 lawmakers. New Nigeria Peoples Party, NNPP, which initially had 18 members, has seen its number dwindled to five, while Accord  and Action Peoples Party, APP, now have two members each. This marks a significant shift from the composition at the inauguration of the 10th Assembly on June 23, 2023, when  APC held about 181 seats against the opposition’s 179, with the PDP alone accounting for about 115 ...

Kwankwaso’s defection: To protect democracy — Mark

•Take 2027 polls seriously — Kwankwaso  •Makes ADC membership card, PVC gate pass to residence,   THE National Chairman of African Democratic Congress, ADC, Senator David Mark, has said that All Progressive Congress, APC, represented the most dangerous threat to multiparty democracy in the country. Mark stated this during the reception of the strongman of Kano politics and former governor of the state, Senator Rabiu Musa Kwankwaso, into the ADC in Kano. He said the defection of Kwankwaso from the New Nigeria Peoples Party, NNPP, to ADC was not merely a political statement, but a response to the clarion call by well-meaning Nigerians for all opposition leaders to be united and present a common front to protect the country’s democracy, and say no to totalitarian rule in Nigeria. Personalities who graced the occasion included David Mark; 2023 Presidential Candidate of the Labour Party, Peter Obi, former National Chairman of APC, Odigie- Oyegun and former speaker of the House...

We’ve taken back PDP — Wike

*No ambition is greater than PDP — Party Chair •Come back home, Sule Lamido begs defectors THE Minister of the Federal Capital Territory, FCT, Mr Nyesom Wike has declared that the Peoples Democratic Party, PDP, has been taken back by loyal members, blasting defectors and asserting control of the party. He also took a swipe at opposition figures ahead of the 2027 general elections. He said this at the PDP’s 10th Elective National Convention in Abuja, while rival camps stayed away. The convention, which was monitored by the Independent National Electoral Commission, INEC, was cited by Wike as proof that the party had regained institutional footing after a prolonged dispute over its leadership. His words: “Today (yesterday) marks the rebirth of our party in a new form. Today (yesterday) is the birth of a united party, ready to move forward. We have seen the convention monitored by the electoral umpire which also tells you the importance of this gathering.” He said: “Leadership is not easy...

How Kwankwaso’s defection strenghten ADC

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Fresh political realignments ahead of the 2027 general elections gathered momentum, weekend, as former governor of Kano State and 2023 presidential candidate of New Nigeria People’s Party, NNPP, Senator Rabiu Kwankwaso, concluded plans to defect to  the African Democratic Congress, ADC, a move that may significantly reshape the electoral landscape. It was gathered that Kwankwaso’s decision followed the conclusion of high-level negotiations with the leadership of the ADC, amid speculations of a possible alliance that could produce an Obi-Kwankwaso presidential ticket. Barring last-minute changes, Kwankwaso, who formally resigned from the NNPP, yesterday, will join the ADC, today, in Kano. Multiple sources disclosed that while the development jolted the NNPP leadership, not all key figures in the party are willing to follow the former governor to his new political platform, a situation that could trigger internal realignments within the NNPP. National Publicity Secretary of the ADC, ...