NEWS
States’ Debts Soar To N11.4tn Despite Federal Allocations
As of June 30, 2024, the combined debt of Nigerian states surged to N11.47 trillion, marking a significant 14.57% rise from the N10.01 trillion reported in December 2023.
According to data from Nigeria’s Debt Management Office (DMO), this jump largely stems from increased external borrowing and the impact of naira devaluation, which saw the currency fall from N899.39/$1 in December 2023 to N1,470.19/$1 by mid-2024.
While external debt for states and the Federal Capital Territory grew to $4.89 billion, a 6.14% rise, the naira value of these debts skyrocketed by 73.46% to N7.2 trillion.
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Meanwhile, domestic debt for these regions saw a notable decline of 27.12%, reducing from N5.86 trillion to N4.27 trillion. Overall, state debt accounted for 8.54% of Nigeria’s national debt, which now totals N134.3 trillion, according to DMO records.
Revenue allocations have increased alongside these debts, partly due to higher oil prices. The Federation Account Allocation Committee reported distributing N3.473 trillion to all government tiers in Q2 2024. This included N1.337 trillion for states, a rise of 4.29% from the previous quarter.
However, many states continue to struggle with substantial debt burdens, leading experts to voice concerns over long-term economic stability and debt sustainability.
NEWS
NDLEA Seizes Over 700kg Of Illicit Drugs In Kano, Arrests 129 Suspects
The National Drug Law Enforcement Agency (NDLEA) in Kano reported the seizure of 709.979kg of illegal drugs throughout October.
This was announced in a statement by the spokesperson for the NDLEA’s Kano Command, ASN Sadiq Muhammad-Maigatari, on Wednesday.
State Commander Abubakar Idris-Ahmad detailed the arrests, noting that all 129 suspects detained were male. “The total illicit substances recovered under the period is 709.979kg, which is made up of 309.991kg of cannabis sativa,” he explained. Additionally, the haul included 394.835kg of psychotropic substances, featuring 741,600 tablets of Tramadol, 2.789kg of pregabalin, and 0.027kg of methamphetamine.
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The statement also confirmed that 22 convictions had been secured, serving as a deterrent to others involved in drug-related activities. “The suspects arrested have been profiled, and those who deserve prosecution have been charged to court, while others have been referred to the counseling unit for support and rehabilitation,” added Idris-Ahmad.
He praised NDLEA Chairman Brig.-Gen. Mohammed Marwa (Rtd), the Kano State Government, and other stakeholders for their support, which has bolstered the agency’s efforts against drug abuse and trafficking. Idris-Ahmad urged the public to aid in the fight by reporting any drug-related information via the agency’s hotline, “0800 1020 3040.”
“Together, we can build a healthier and safer society,” he stated.
NEWS
Federal High Court To Begin Yuletide Vacation On December 16
The Chief Judge of Nigeria’s Federal High Court, Justice John Tsoho, has announced the start of the 2024 yuletide vacation for judges, scheduled to commence on December 16.
According to a circular signed by Justice Tsoho, the vacation will conclude on January 6, 2025, with court sessions resuming nationwide on January 7.
The circular, issued in line with Order 46, Rule 4 (C) of the Federal High Court (Civil Procedure) Rules of 2019, states that during this period, only urgent matters will be addressed.
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These include cases related to the enforcement of fundamental rights, arrest or release of vessels, and other issues of pressing national importance.
Only the core judicial divisions in Abuja, Lagos, and Port Harcourt will remain operational throughout the holiday period. The roster names Justice Emeka Nwite and Justice M. S. Liman as vacation judges for Abuja; Justice Akintayo Aluko and Justice Isaac Dipeolu for Lagos; and Justice P. M. Ayua and Justice A. T. for Port Harcourt.
NEWS
Massive Blaze Ravages Eco Fitness Hub In Abuja
A major fire broke out at the Eco Fitness Hub, a popular fitness center located in the Gwarinpa district of Abuja.
According to reports, the fire started on Wednesday, engulfing significant portions of the facility.
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Eyewitnesses say flames and smoke were seen billowing from the building, drawing a crowd of concerned onlookers and emergency responders.
At this time, the cause of the fire is unknown, and investigations are ongoing to determine what may have triggered the blaze.
Firefighters are on-site battling the flames and working to prevent further spread to nearby buildings.
Fortunately, no casualties have been reported as of the time of this report.
However, authorities are urging residents to avoid the area to allow emergency responders to work unimpeded.
Eco Fitness Hub, known for its eco-friendly approach to fitness and wellness, has been a popular destination for fitness enthusiasts in Abuja.