In this post, we digest some top stories that make up the front pages of major Nigerian newspapers on Wednesday, 20 November, 2024, and provide key advocacy asks.
Nigeria’s debt profile to hit N138trn as Tinubu seeks fresh N1.8trn – Daily Trust
Nigeria’s total debt is set to hit an all-time high of N136 trillion, following fresh request from President Bola Ahmed Tinubu to the National Assembly to approve N1.77 trillion (approximately $2.2bn) external borrowing plan in support of the 2024 budget.
We call on President Bola Tinubu to prioritise fiscal responsibility by reducing Nigeria’s reliance on external borrowing to address the nation’s economic challenges. With the country’s debt profile poised to hit a staggering N138 trillion, the government should instead focus on broadening the revenue base through plugging revenue leakages, cutting down on excessive government expenditures, and fostering a conducive environment for private-sector-led growth.
AG uncovers N4.6bn unapproved spending in Umahi’s ministry – Punch
An audit report has uncovered financial irregularities totalling over N4.64bn in the Federal Ministry of Works (Housing Sector), raising concerns about systemic non-compliance with financial regulations and procurement laws.
This discovery uncovers a pressing need for accountability and systemic reforms. The Economic and Financial Crimes Commission (EFCC) must launch an independent investigation to identify and prosecute those responsible for the violations of financial and procurement regulations. We also urge citizens to demand accountability to deter future misconduct and safeguard public funds for developmental priorities.
Tompolo accused navy of aiding oil theives – The Guardian
Former Niger Delta militant leader and Chief Executive Officer of Tantita Security Services Limited, Government Ekpemupolo, known as Tompolo has alleged that the Nigerian Navy is aiding and abetting oil theft in the region.
The allegations by Tompolo against the Nigerian Navy demand immediate investigation to restore public trust and protect Nigeria’s critical oil resources. The government must establish an independent and transparent panel to thoroughly investigate these claims, hold any complicit individuals accountable, and implement measures to strengthen maritime security.