NEWS
Reps Debate Tinubu’s Loan Request
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.
NEWS
Nigeria Wants to Export Electricity to Togo While Citizens Face Outages
Nigeria is preparing to increase electricity exports to Togo through the Niger Delta Power Holding Company (NDPHC), even as many Nigerians continue to experience power shortages at home.
The move comes as Togo seeks to meet rising domestic electricity demand.
The Managing Director/CEO of NDPHC, Jennifer Adighije, confirmed the development following discussions with Togo’s national electricity utility, Compagnie Energie Electrique du Togo (C.E.E.T).
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The visiting C.E.E.T delegation was led by its Director-General, Débo‑K’mba Barandao, who described the talks as productive and aimed at strengthening regional energy cooperation.
Barandao said C.E.E.T currently imports about 75 megawatt-hours of electricity from NDPHC under a bilateral arrangement.
“The imported electricity has played a significant role in sustaining stable power supply and economic activities across Togo,” he noted.
He added that rising electricity demand, especially in the industrial and commercial sectors, alongside government efforts to expand national access, has prompted the utility to seek additional supply.
According to Barandao, Nigerian electricity imports help maintain reliable and affordable power for households, businesses, and public institutions across Togo.
He commended NDPHC for its consistency, saying the partnership has strengthened Togo’s national grid and regional energy cooperation.
Responding, Adighije reiterated NDPHC’s readiness to deepen cooperation and sustain electricity exports to neighboring countries.
She emphasized that the company operates multiple plants under the National Integrated Power Project, with sufficient capacity to support increased regional supply.
She added that expanding electricity exports would require bankable and sustainable commercial arrangements between both parties.
“A reliable payment framework will safeguard NDPHC’s interests and enable continued support for regional energy stability through power exports,” Adighije said, highlighting the need for credible financial guarantees and structured payment mechanisms to reduce risks associated with cross-border electricity trade.
Both parties reaffirmed their commitment to developing workable frameworks for increased electricity supply from Nigeria to Togo.
Industry analysts say this reflects a growing effort among West African countries to deepen regional electricity trade and address persistent power shortages.
NEWS
‘Why My Retirement Came at the Perfect Time’ — Ex-IGP Kayode Egbetokun
Former Inspector-General of Police, Kayode Egbetokun, has explained why he believes his retirement from the leadership of the Nigeria Police Force came at the perfect time, describing it as the fulfilment of God’s divine plan.
Egbetokun made the remarks during a retirement thanksgiving service held in his honour at the Force Headquarters Chapel in Abuja.
The event also featured the inauguration of the Police Chaplaincy building and was attended by senior police officers, clergy and other worshippers.
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Reflecting on his appointment as Inspector-General in 2023, the former police chief revealed that he never expected the role when it came.
According to him, the first thing he did after entering his office was to pray.
“I was not expecting the appointment when it came. The first thing I did when I entered the office alone was to pray,” he said.
Egbetokun disclosed that after assuming office, he made three personal prayers to God.
He said he prayed for wisdom to effectively lead the police institution, the grace to complete his tenure successfully, and the ability not to remain in office beyond the time divinely allotted to him.
“My first prayer was for wisdom to run the office, the second was for grace to end well, and the third was not to stay a day longer than God permits. I believe God has answered those prayers,” he added.
The retired police boss also reflected on his career journey, noting that faith played a significant role in his rise from his early days after graduating from the police academy to eventually becoming Nigeria’s top police officer.
He further recounted a dream he had before joining the force, in which he saw himself as a Deputy Inspector-General of Police travelling in a police vehicle bearing the registration number “NPF02.”
According to him, the experience later taught him that life can unfold in unexpected ways.
Egbetokun added that throughout his career he remained conscious of how his actions could influence public perception of the police, a reality he said guided his conduct while in office.
“I knew whatever I did would affect the image of the force, so I made it my duty to remain professional and uphold integrity, transparency and fairness,” he stated.
In his remarks, the Force Chaplain, Joshua Omoyele, commended Egbetokun for completing the Police Chaplaincy building project during his tenure, describing it as a lasting legacy.
Omoyele also praised the former police boss for his strong commitment to Christian service even before his appointment as Inspector-General, noting that he maintained that devotion throughout his time in office.
He further highlighted Egbetokun’s past roles in the police force, including his tenure as Commissioner of Police in Kwara State and Assistant Inspector-General in Zone 7.
Aviation
Airfares Likely to Rise as Aviation Fuel Price Spikes by 80%
The Airline Operators of Nigeria (AON) has declared that airlines operating in Nigeria have come under financial pressure following a sharp increase in the price of Jet-A1, also known as aviation fuel.
According to the group, the price of aviation fuel, has surged to about N1,800 per litre in many parts of the country, from about N1,000 per litre two weeks ago. This amounts to almost an 80 per cent increase within a short period.
Aviation fuel remains the largest cost component in airline operations, accounting for about 30 to 35 per cent of total operating expenses.
Industry stakeholders have linked the latest spike to the ongoing conflict in the Middle East, which has pushed up global energy prices.
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Speaking on Channels Television on Friday, the spokesperson for the Airline Operators of Nigeria, Prof Obiora Okonkwo, said the surge had placed airlines under severe financial strain.
According to him, most carriers have so far refrained from immediately transferring the additional cost burden to passengers, despite the pressure on their operations.
“Two weeks ago, we were getting Jet-A1 at about N1,000 per litre, which today is about N1,800, and even more in some stations. We have experienced an increase of about 80 per cent. That’s quite a spike,” Okonkwo said.
He explained that airlines were currently absorbing the losses in order to avoid worsening the economic burden on the travellers.
“We are not in a business where you can easily adjust your ticket price. Right now what we are doing is that we are bleeding. We are taking the blow. We are selling tickets at very non-profitable prices. We are losing a lot of money,” he said.
Okonkwo warned that the situation might not be sustainable if fuel prices continue to rise without government intervention.
“Obviously, adjustments will be expected anytime soon. But again, we are very sensitive to the economic situation of Nigerians and our travellers,” he added.
He noted that developments in the global oil market, particularly the recent release of reserve crude oil, could influence fuel prices in the coming weeks.
Okonkwo also urged the Federal Government to explore engagement with the Dangote Refinery as part of efforts to stabilise aviation fuel supply locally.
“We were more hopeless in a situation where there was no refinery in Nigeria in the last two years. Now that we have a refinery, we are hopeful that we can find a solution around it,” he said.
According to him, if the spike persists, some airlines may struggle to continue absorbing the losses associated with the rising cost of aviation fuel.
Meanwhile, the AON spokesperson also reacted to the decision by the Federal Competition and Consumer Protection Commission to sanction about five airlines over alleged price fixing.
Okonkwo said while the commission has regulatory powers, the aviation sector remains deregulated, making coordinated price fixing unlikely.
“There is no meeting of airlines where they agree to fix prices. Fixing prices would mean operating as a cartel, and that is not the case,” he said.
He explained that airline ticket pricing varies widely because different aircraft types attract different operating costs.
“Each airline determines its fares based on its own operational costs,” he said.
Okonkwo added that airlines must also demonstrate financial viability to regulators as part of the conditions for maintaining their operating licences.
“At every point in time, you must prove to the regulators that you are financially viable and capable of sustaining operations,” he said.
He urged regulators to take into account the fragile nature of the aviation industry when making policy decisions affecting airlines.





