“It’s hard to find anyone to underwrite it,” one source said, citing concerns over the availability of the cargoes.
FG says no final decision yet on $5bn loan from Saudi Aramco
The Federal Government, yesterday, said no final decision has been taken on the reported plan to obtain a $5 billion oil-backed loan from Saudi Arabia’s Aramco.
The loan which is said to be part of the $21.5 billion borrowing plan submitted to the National Assembly last month by President Bola Tinubu, was not publicly disclosed.
Reuters reported that negotiations on the facility have been delayed by the low price of oil in the international market.
The government in a statement by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said the government was focused on deploying a variety of options to finance its plans.
The statement reads: “The Federal Government of Nigeria is aware of recent media reports concerning a potential forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd).
“While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government, and commentary suggesting the collapse of any such initiative is unfounded.
“The Government remains focused on deploying a range of innovative, transparent, and fiscally responsible financing strategies to optimise Nigeria’s oil assets, improve external liquidity, and strengthen macroeconomic stability.”
Nigeria has in the past few years obtained about $7 billion loans from Afreximbank ($3.3 billion) and other financial institutions using forward sale of its oil production.
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The Aramco deal, if it goes through, would be Nigeria’s largest oil-backed loan to date and Saudi Arabia’s first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said.
Two of the sources said President Bola Tinubu first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit.
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Parents and caregivers are advised to seek early medical help and update childhood vaccinations as response teams expand outreach.
Health authorities in Adamawa State are responding to a diphtheria outbreak that has caused 20 deaths across 13 local government areas. Speaking on Wednesday, State Epidemiologist Jones Steven Kadabiyu confirmed that health workers have recorded 126 suspected cases throughout the state, with six patients currently receiving medical care in local hospitals.
Diphtheria is a serious bacterial illness that spreads through airborne droplets from coughing or close personal contact. It mainly affects the throat and airway, causing sore throats, mild fevers, swollen neck glands, and difficulty swallowing or breathing.
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Health officials emphasized that the biggest risk to patients has been waiting too long to visit a health center, as some families try informal remedies at home first before seeking professional medical attention.
The state government is working alongside health partners to track new cases, provide specialized antibiotics and treatments, and protect medical workers and family members.
Officials stressed that while diphtheria can affect people of any age, young children are the most vulnerable to serious complications. Parents and guardians are strongly encouraged to ensure their children are up to date on their routine vaccines and to visit the nearest clinic immediately if anyone develops throat swelling or breathing issues.
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Following Governor Sanwo-Olu’s request, the state legislature approves expanded capital financing for the final months of the fiscal year.
The Lagos State House of Assembly has approved changes to the state’s 2026 spending plan to speed up work on key community infrastructure, including public transit lines, general hospitals, and flood prevention systems.
The decision came after Governor Babajide Sanwo-Olu requested a review of the budget to make sure government funds are directed where they are needed most during the rest of the year.
To support these priority projects, lawmakers agreed to raise the state’s infrastructure bond from ₦150 billion to ₦200 billion. Budget committee chairman Lukmon Olumoh explained that this financial adjustment will help contractors finish essential public facilities faster.
The revised funds will help extend the Blue Line train service between Mile 2 and Trade Fair Station, complete the new Massey Street Children’s Hospital, and finish the 280-bed General Hospital in Ojo.
The amended plan also sets aside funds for fixing potholes on neighborhood roads, clearing drainage channels to prevent flooding, and buying new service vehicles for sanitation and traffic teams.
Lawmakers emphasized that legislative committees will closely monitor how these funds are spent to ensure projects are delivered on schedule and within clear standards. Speaker Mudashiru Obasa confirmed that the approved bill has been sent to the governor to be officially signed into law.
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Keep Politics Out of My Office — Ogbomoso Grand Chief Imam Warns Politicians, Bloggers
The Office of the Grand Chief Imam of Ogbomosoland has drawn a battle line against the alleged politicisation of the revered Islamic institution, warning politicians, bloggers and social media commentators to stop using the Imam’s name, image or perceived position to promote partisan interests.
The office, in a strongly worded statement issued on Tuesday, September 15, 2026, declared that the Grand Chief Imam was neither a political actor nor available to any politician, political party or interest group seeking endorsement, mobilisation or political leverage.

Grand Chief Imam of Ogbomosoland Toliat Yunus Ayilara
The warning, signed by the Secretary of the Office of the Grand Chief Imam, Sulaimon Ogunleye, came amid what the office described as “recent attempts” by certain media organisations, internet bloggers, political actors and their associates to drag the revered office into partisan political activities.
The office said the Grand Chief Imam occupied a spiritual position above political affiliations and was a father to the entire community, irrespective of party, ideology or individual political preference.
It stressed that his primary responsibility was to provide spiritual guidance, counsel, prayers and moral leadership to the Ummah and society.
Consequently, the office declared that its position on partisan politics remained “uncompromisingly neutral.”
‘Nobody should drag Imam into politics’
In a stern message to politicians and their associates, the office warned against attributing political endorsements or directives to the Grand Chief Imam.
It maintained that while individual members of the community remained free to support whichever candidate they preferred, such personal choices must not be presented as the position of the Grand Chief Imam.
The office also urged citizens to approach the forthcoming elections as responsible voters by scrutinising candidates, interrogating their records and promises, demanding accountability and making their choices freely at the polls.
“Every citizen has the right to support and vote for the candidate of his or her choice; however, no individual or political interest has the right to attribute such political choices to the Grand Chief Imam or his Office,” it stated.
‘Stop using Imam’s image, statements for political purposes’
The office subsequently issued a direct cease-and-desist warning to media organisations, bloggers, political actors, social media commentators and other individuals.
They were warned against using the Grand Chief Imam’s name, image, statements or perceived position for political purposes.
The office also condemned the alleged publication and circulation of fabricated statements, photographs, videos and other materials capable of creating what it described as a false impression that the Imam or his office had endorsed a candidate or political party.
It further warned against exploiting the revered office for political influence, leverage or personal clout.
“For the avoidance of doubt, no political endorsement should be attributed to the Grand Chief Imam,” the statement declared.
Defamation: Imam’s office threatens fresh legal action
The office took the warning a step further, declaring that the latest statement should not be interpreted as a mere expression of displeasure.
According to the statement, the office had, a few weeks earlier, issued another warning over alleged defamatory publications by certain bloggers.
It claimed that following the earlier intervention, legal proceedings were instituted and several persons were currently facing prosecution before the courts.
Against that background, the office described Tuesday’s warning as a “final and unequivocal” notice.
It warned that anyone or any organisation that knowingly publishes, circulates or disseminates what the office considers false, defamatory or malicious material concerning the Grand Chief Imam or his office would face civil and criminal proceedings without further notice.
The office also vowed to identify and preserve evidence against alleged offenders, report them to relevant authorities and pursue prosecution, including individuals operating anonymously or through digital platforms.
‘Don’t turn Ogbomoso’s religious institutions into political battlegrounds’
The Grand Chief Imam also appealed for calm and unity among the people of Ogbomosoland as political activities intensify ahead of the forthcoming elections.
The office warned that political differences must not be allowed to tear the community apart or turn sacred institutions into instruments of partisan competition.
“The people are free to choose their leaders,” the statement declared.
However, it stressed that the Office of the Grand Chief Imam would remain above partisan politics.
The public was therefore urged to disregard any purported political endorsement, statement or directive attributed to the Grand Chief Imam unless officially issued by the appropriate office.
The office reaffirmed its commitment to peace, justice, responsible citizenship and the spiritual and social wellbeing of the people of Ogbomosoland, while praying for Allah’s continued guidance and ease in the affairs of the community.
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