NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
READ ALSO: CSR: Dangote Cement Fuels Education With Support Projects At Lagos Schools
He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
NEWS
How Twins Got Jobs at NNPC Ltd in 2026
One distinguishing factor of the recruits of the NNPC Tigers Class of 2026, is the emergence of identical twin brothers, Hussaini and Hassan Malami, among them, as both secured positions at the Nigerian National Petroleum Company Limited (NNPC Ltd).
The brothers’ recruitment has also challenged a common misconception that the NNPC Ltd does not employ more than one person from the same family.
Hussaini had always desired a career at the NNPC Ltd and applied immediately when the recruitment opened. He then encouraged Hassan, his twin brother to submit an application.
Hassan, however, was initially reluctant because he believed the NNPC Ltd only hired one person per family and did not want to interfere with his brother’s ambition.
READ ALSO: Nigeria’s Energy Security Depends on Pipeline Protection
His own career aspiration was to join the Nigerian Air Force (NAF). He already worked in the banking sector and had not considered a corporate career.
His doubts were also influenced by the experience of three older siblings — a lawyer, an engineer and a business administrator — who had previously applied to the NNPC Ltd without success.
Hassan eventually applied close to the deadline following repeated encouragement from his twin.
The brothers sat for the computer-based test on the same day but in different locations, with Hussaini taking his test in Sokoto and Hassan in Kaduna.
After going through the recruitment process, including interviews, both brothers received employment letters on the same day.
“I opened the email after midnight and wanted to wake everybody up to tell them,” Hussaini laughed.
Hassan discovered the news after seeing it on the family WhatsApp group when he woke up.
He said Hussaini’s success made him nervous about his own chances.
“I was now nervous about the possibility of not being successful once Hussaini shared his news.”
Both brothers eventually secured positions at the state oil major.
Hussaini now works with the NNPC Exploration & Production Limited (NNPC E&P Limited), while Hassan is with the NNPC Gas Infrastructure Company (NGIC).
For Hassan, his new position has provided an opportunity to gain a deeper understanding of Nigeria’s gas industry.
“I didn’t know there was a whole business dedicated to transporting gas,” Hassan said. “Now I’ve seen how gas powers plants and manufacturing companies…. Hearing that gas is the future is one thing. Seeing how it is happening is another.”
Although Hassan had initially been uninterested in a corporate career, he now considers his work at the NNPC Ltd another way of serving Nigeria.
He still hopes to explore military service before reaching the age limit in 2030.
Hussaini, meanwhile, said his experience has strengthened his long-standing ambition to contribute to society. He also hopes to return to his university as a guest lecturer and share his professional experience with students.
“When I was in university, I only had one lecturer with field experience,” he said. “I want to share practical experience with students someday.”
Asked which of the NNPC Ltd’s culture transformation pillar best reflects his mindset, Hussaini selected Enterprise First.
He explained his choice by saying that “giving your best to the company is giving your best to the country.”
Hassan identified with Execution Excellence, drawing from his background as a civil engineer.
“I’m a civil engineer…. I like seeing things come to life from concept to completion.”
The twins also urged young Nigerians interested in joining the NNPC Ltd not to be discouraged by rumours about the recruitment process.
“Ignore the rumours. You don’t need to know anybody at NNPC. Apply. Take the test and earn your place.”
Their story demonstrates that being from the same family does not prevent multiple candidates from securing opportunities at the NNPC Ltd, provided they meet the requirements and successfully navigate the recruitment process.
NEWS
How Nigerian Twins Defied Recruitment Rumours to Secure NNPC Jobs
Identical Nigerian twins, Hussaini and Hassan Malami, have secured employment with the Nigerian National Petroleum Company Limited as members of the NNPC Tigers Class of 2026, after overcoming a misconception about the company’s recruitment process.
Their inspiring story was contained in a profile by Adaobi Oniwinde, Senior Communications Advisor at NNPC Limited, on Monday.
Hussaini, who had always aspired to work with NNPC, applied when the company opened its recruitment exercise and encouraged his twin brother, Hassan, to do the same.
SEE ALSO: NNPC Ltd Considers Commissioning, as AKK Gas Pipeline Lands Abuja
Hassan initially hesitated because he believed NNPC recruited only one person from a family. Concerned that applying could jeopardise his brother’s chances, he decided against it at first.
He was also more interested in joining the Nigerian Air Force and already had a job in the banking sector.
However, with the application deadline approaching and following persistent encouragement from Hussaini, Hassan eventually applied.
The brothers later took the computer-based recruitment test on the same day but at different locations, with Hussaini sitting for his test in Sokoto and Hassan taking his in Kaduna.
After going through interviews and other stages of the recruitment process, both brothers received employment letters on the same day.
Hussaini said he discovered his employment offer after midnight and was eager to share the news with his family.
“I opened the email after midnight and wanted to wake everybody up to tell them,” he said.
Hassan said he learnt about his successful application through the family WhatsApp group when he woke up.
“That’s when the pressure hit me. I was now nervous about the possibility of not being successful once Hussaini shared his news,” he said.
The twins eventually secured positions in different NNPC subsidiaries. Hussaini joined NNPC Exploration & Production Limited, while Hassan joined NNPC Gas Infrastructure Company.
For Hassan, the new job has exposed him to aspects of Nigeria’s gas industry that were previously unfamiliar to him.
“I didn’t know there was a whole business dedicated to transporting gas,” he said, explaining that his experience had given him a clearer understanding of how gas powers plants and supports manufacturing companies.
Although Hassan had initially hoped to pursue a career in the military, he now considers his role in the energy sector another form of national service.
He also said he still hoped to explore military service before reaching the age limit in 2030.
Hussaini, on his part, said working at NNPC had strengthened his desire to contribute to the development of Nigeria’s energy sector.
He also expressed interest in becoming a guest lecturer at his university in the future, saying he wanted to share practical industry experience with students.
“When I was in university, I only had one lecturer with field experience,” he said. “I want to share practical experience with students someday.”
The brothers also identified different NNPC culture transformation pillars that reflected their individual approaches to work.
Hussaini chose “Enterprise First,” saying, “Giving your best to the company is giving your best to the country.”
Hassan, a civil engineer, selected “Execution Excellence,” explaining, “I’m a civil engineer. I like seeing things come to life from concept to completion.”
The twins urged young Nigerians interested in working with NNPC to ignore rumours about the recruitment process and apply whenever opportunities arise.
“You don’t need to know anybody at NNPC. Apply. Take the test and earn your place,” they said.
NEWS
Iran Rolls Out Terms for Hormuz Reopening
New concerns have emerged that disruption to one of the world’s most critical oil routes might continue, as Iran has laid terms of reopening the Strait of Hormuz on the table before the United States of America (USA).
Biztellers reports that Iran is demanding six things, touching on military operations, sanctions, compensation and access to her frozen assets, as conditions precedent to the reopening of the route.
According to Mohammad Baqer Zolghadr, Secretary of Iran’s Supreme National Security Council (SNSC), Tehran expected Washington to end what it described as hostile actions before the strategic waterway could be reopened.
Iran’s conditions include an end to US threats and military operations, a permanent cessation of the war, the withdrawal of American naval and air forces from areas around Iran, compensation for damage caused by the conflict, the removal of sanctions and the release of frozen Iranian assets.
READ ALSO: NMDPRA Moots New Policy to Improve Energy Security, Stem Fuel Price-fixing
The demands indicate that Tehran does not consider the draft agreement being discussed with Washington sufficient to restore normal shipping through the strait.
Any eventual agreement would also require approval from Iran’s SNSC, suggesting that the reopening of the waterway could remain tied to wider political and security negotiations.
The development comes as shipping activity through the Strait of Hormuz remains significantly below previous levels, with only 33 vessels crossing the waterway from Monday through Thursday, compared with 50 during the corresponding period a week earlier.
Crude tanker movements have been particularly limited, with only six crude oil tankers reportedly exiting the strait so far this week.
The subdued traffic has persisted despite expectations that Iran and Oman could reach an arrangement to facilitate a shipping corridor through the waterway.
Further uncertainty surrounds the treatment of vessels linked to the USA and Israel, with Tehran considering restrictions on such ships. Earlier proposals for charging transit fees have also heightened concerns among shipping operators.
In a related development, the European Union (EU) has accused Iran’s Islamic Revolutionary Guard Corps Navy of operating a screening and toll system for vessels transiting the strait, adding to concerns over the security and cost of commercial shipping.
Washington, however, has struck a more optimistic tone.
US Vice President, JD Vance, said the administration expected oil and gas flows from the Gulf to eventually return to levels recorded before the conflict.
Vance also said Iran had informed Washington that it did not intend to impose transit tolls, although he acknowledged that the United States remained cautious about relying on Tehran’s assurances.
The conflicting positions have left the outlook for a return to normal shipping through Hormuz uncertain.
While Washington is projecting a restoration of Gulf energy flows to pre-war levels, Iran has now linked the reopening of the strait to broad military, political and financial concessions from the United States.
The Strait of Hormuz is a critical artery for global energy markets, making the duration of the disruption particularly significant for crude oil, refined products and natural gas supplies.
The outcome of the negotiations could therefore determine whether the current disruption remains a short-term shock or develops into a prolonged threat to global energy supplies, with potential implications for oil prices, tanker markets and energy security worldwide.





