A significant clash is expected in the House of Representatives this week as lawmakers from the ruling party and the opposition prepare to debate President Bola Tinubu’s request for a $2.2 billion loan to cover a N9.7 trillion deficit in the 2024 budget.

The Senate has already approved the request, with the House set to deliberate on it in the coming days.

Approval Likely, Says Deputy Spokesperson
Deputy Spokesperson of the House, Philip Agbese, expressed confidence that the loan would be approved. Speaking with The PUNCH, he emphasised that the Tinubu administration has been prudent with resources, and the loan aligns with capital projects outlined in the President’s letter to the National Assembly.

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“The Tinubu-led government has been prudent with our resources. We will approve the loan request without hesitation,” Agbese stated, assuring that the process would adhere to strict procedures.

Nigeria’s total public debt currently stands at N136 trillion. Despite this, Agbese defended the loan, citing the administration’s focus on critical infrastructure and fiscal policies to safeguard taxpayer resources.

He emphasised the government’s commitment to accountability, stating that the loan would be monitored to ensure its use aligns with its intended purpose.

However, members of the minority caucus have warned against the over-reliance on borrowing. Minority Leader Kingsley Chinda stressed that borrowing should be a last resort. “What did we get as income, and how was it applied that we required borrowing? What efforts have we made to raise funds without borrowing?” he asked, insisting that only verifiable answers to these questions would justify the loan.

Labour Party lawmaker Afam Oghene echoed similar concerns, pointing out the nation’s growing debt profile and urging transparency in how the funds would be allocated. “Nigerians are worried about the Presidency’s repeated requests for loan approvals… The concern is not just about the loans but also about the transparency and integrity of how the funds are being deployed,” he noted.

Some lawmakers argue that the loan is necessary for national development. APC representative Chike Okafor asserted that under-investment in critical sectors like health, education, and infrastructure necessitates borrowing. “What I do not support is borrowing to fund ordinary appetite. By this, I mean borrowing just to fund recurrent expenditures,” he clarified.

As the debate unfolds, the House must balance the need for infrastructural development with concerns about the country’s growing debt. The ruling party appears committed to securing the loan, while opposition lawmakers vow to scrutinise its necessity and terms.

This week’s deliberations will likely determine the trajectory of Nigeria’s fiscal policy amid mounting economic challenges.

The continual hounding of independent voices by the Nigerian Government has seen investigative journalist, David Hundeyin throw in the towel.

Hundeyin vented his frustration with failure to raise Nigeria’s national consciousness to desired levels, despite dedicating over six years to the project.

He made the disclosure in a statement on his verified handle on micro-blogging site, X, on Monday.

According to him, the Nigerian Government has been busy networking with other nations on his repatriation while Nigerians snore because “my fundamental objective – to help uplift the consciousness of my people – has not had any success. Basically, I have failed. Whatever I’ve been doing is not working.”

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He wrote, “At the end of the day, if people tell themselves a lie long enough that they start to believe it and make real-world decisions based on it, the loser is not me.

“My life is an open book. Literally. A 590-page book you can find on Amazon or Roving Heights. There’s nothing about me, my personal history, or my motivations that is a secret.

“If the urge to believe things about me that came out of someone’s hallucinations outweighs the importance of the value that I create, then I’m clearly not creating enough value for my people, which is fine.

“The thing is that I cannot really do more than I have already done. I’m already at my physical and mental limits. I have gone through things and put myself through experiences that normal people will never witness in 3 lifetimes.

“One thing I have always been very clear about is that my motivations are internal. I have always believed that I have to do what I have to do because it is nobody else’s job to fight for my future and that of my unborn children. I’ve never done any of this for external validation. I live way too much inside my own head for any of that to matter anyway.

“So if the situation now is that the ability of a noisy minority to poison the well of public opinion with some of the most malicious and mean-spirited lies in existence outweighs the urgency of what I try to do in a space where 200 million people are being constantly manipulated and casually exterminated like they’re 200 million ducks or catfish, then I have to acknowledge that I have failed.

“Even right now, Nuhu Ribadu’s NSA Office has been busy speaking to the authorities in Kenya, Ghana and the UK as recently as last week, while they continue to work on their obsession of bringing me to Abuja as a trophy for Emperor Bola Ahmed.

“And yet what is apparently important for public discussion is who I married or who I had sex with, plus some malaria hallucinations from a failed former journalist who never accomplished anything in his career. These are the things my people are discussing. Even at this late hour, we don’t know who our enemies are and who is on our side.

“This can only mean that my fundamental objective – to help uplift the consciousness of my people – has not had any success. Basically, I have failed. Whatever I’ve been doing is not working. I’ve spent nearly 6 years of my life on a project that hasn’t moved public consciousness forward one single inch from where I met it in 2019. I put myself into a lot of trouble along the way, but it didn’t really amount to much.

“So this is a message to @NuhuRibadu. You can leave me alone and stop talking to Ruto and Akufo-Addo about refouling me. I will not disturb you people anymore. I’ll focus on my Pan-African political commentary and news about the Sahel region, but I’m leaving the Nigerian space for you. I clearly overestimated both myself and my people.

“The mistake was mine.”

A fire that broke out on Sunday evening along Obodoukwu Road, near the Relief Market in Okpoko, Ogbaru Local Government Area of Anambra State, has destroyed goods and property worth millions of naira.

The blaze caused panic and confusion as traders and residents scrambled to salvage their belongings.

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Eyewitnesses reported that the fire started in one of the shops and quickly spread to others.

“We observed thick smoke coming out from one of the shops, and before we knew what was happening, it started increasing fast,” said Ndubuisi, a local trader.

“The few traders that were around, along with some residents and passers-by, tried to fight the fire before the firefighters arrived.”

Despite their efforts, many shop owners were unable to save their goods. “Some of the victims could not take anything out of their shops,” Ndubuisi added.

“I can say that goods worth millions of naira were lost to the fire. We can’t say what caused the fire, but we pray that God comes to their aid.”

The cause of the fire remains unclear, but it caused significant damage to several shops filled with various goods.

The Anambra State Fire Service confirmed the incident on Monday, stating that it received a distress call at 4:19 pm on Sunday, November 24, 2024.

In response, two fire trucks from the Okpoko Fire Station and Main Market Fire Station were dispatched, along with additional firefighting equipment.

Fire Chief Chukwudi Chiketa confirmed that the firefighters battled the blaze for several hours, preventing it from spreading further.

He said, “Our firemen were able to contain the fire and prevent it from escalating to other structures. The fire affected a few shops, but thankfully, no lives were lost.”

The Fire Service also issued a public safety reminder, urging residents to remain vigilant and fire-conscious. They concluded their operations at approximately 7:39 pm.

As investigations into the cause of the fire continue, local authorities are assessing the extent of the damage.