metro
Nigeria to receive fresh $500m AfDB loan for budget support
Nigeria to receive fresh $500m AfDB loan for budget support
The African Development Bank (AfDB) is set to lend Nigeria $500 million in 2025 as part of its $1 billion budget support programme aimed at strengthening the country’s ongoing macroeconomic and fiscal reforms.
AfDB Board representative of Nigeria, São Tomé and Príncipe, Bode Oyetunde, disclosed this in an interview with Journalists on the sidelines of the 31st Nigerian Economic Summit (NES) in Abuja on Monday.
Oyetunde said the loan, which is the second tranche of the AfDB’s two-year support package, could be approved before the end of 2025.
He noted that the Bank remains committed to backing the very bold and aggressive reforms being implemented by President Bola Tinubu’s administration.
READ ALSO:
- May Agbamuche-Mbu: The lawyer who broke barriers to lead INEC
- SSANU, NASU mobilise varsity workers for protest on Thursday
- BBNaija 10: Imisi receives ₦80m grand prize, brand-new Innoson SUV
“Given all these reforms, it was important to support Nigeria. They asked us for $1.5 billion. We are able to do $1 billion over two years. Last year, we provided $500 million in budget support. This year, we are looking to do another $500 million, subject to board approval,” Oyetunde said.
The AfDB board member said the facility will focus on fiscal and power sector reforms, which are central to improving Nigeria’s economic stability and growth prospects.
He recalled that in November 2023, the Federal Executive Council (FEC) approved a $1 billion budget support loanfrom the AfDB to strengthen the federal government’s fiscal capacity and accelerate reform implementation.
Oyetunde reaffirmed the Bank’s confidence in Nigeria’s reform direction, noting that the support programme is designed to help the government sustain momentum in stabilising the economy, boosting revenue, and improving power sector efficiency.
Nigeria to receive fresh $500m AfDB loan for budget support
metro
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
The Delta State Police Command has made a significant breakthrough in the investigation into the murder of retired Justice Ifeoma Okogwu in Anambra State, arresting key suspects linked to the case.
Spokesperson SP Bright Edafe disclosed on Sunday that operatives of the Homicide Section of the State Criminal Investigation Department (CID), acting on credible intelligence, apprehended 25-year-old security guard Godwin Mngumi on 6 December 2025. Mngumi allegedly murdered the retired judge, and authorities also recovered the deceased’s mobile phone from him.
READ ALSO:
- Nigerian Army Suspends Retirements for Officers Amid Nationwide Security Emergency
- Dangote urges wealthy Nigerians to invest in industries, not luxury cars, private jets
- Mohamed Salah Slams Liverpool Boss Arne Slot, Hints at Anfield Exit Ahead of AFCON Departure
According to Edafe, Mngumi confessed to inviting a friend, Nnaji Obalum, and another accomplice — who remains at large — to the residence where the crime was committed. Obalum has since been arrested, while a manhunt continues for the third suspect.
The arrests mark a major step forward in the effort to bring all perpetrators of the high-profile murder to justice.
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
metro
Delta State Police Recover Arms, Arraign 18 Suspects in Crackdown on Cultism, Violent Crimes
Delta State Police Recover Arms, Arraign 18 Suspects in Crackdown on Cultism, Violent Crimes
The Delta State Police Command, led by Commissioner of Police CP Olufemi Abaniwonda, has made significant strides in its ongoing campaign against cultism and violent crimes. Recent operations, including an intelligence-led arms recovery in Abraka and the arraignment of 18 suspects, highlight the command’s intensified enforcement efforts across the state.
READ ALSO:
- Nigerian Army Suspends Retirements for Officers Amid Nationwide Security Emergency
- Dangote urges wealthy Nigerians to invest in industries, not luxury cars, private jets
- Mohamed Salah Slams Liverpool Boss Arne Slot, Hints at Anfield Exit Ahead of AFCON Departure
Spokesperson SP Bright Edafe said on Saturday that the CP-Special Assignment Team (CP-SAT), under ASP Julius Robinson, executed a successful operation on December 6, 2025, targeting cult-related activities and the proliferation of illegal firearms. Acting on credible intelligence, officers conducted a coordinated search at No. 2 Umeghe Community, Abraka, the residence of Isiakpere Friday, 67.
The move underscores the Delta State Police’s commitment to restoring safety and security in communities affected by criminal and cult-related activities.
Delta State Police Recover Arms, Arraign 18 Suspects in Crackdown on Cultism, Violent Crimes
metro
Nigerian Army Suspends Retirements for Officers Amid Nationwide Security Emergency
Nigerian Army Suspends Retirements for Officers Amid Nationwide Security Emergency
The Nigerian Army has temporarily frozen both statutory and voluntary retirements for certain officers, including Generals, following the nationwide security emergency declared by President Bola Tinubu. The decision aims to bolster manpower as the country faces a surge in kidnappings and worsening insecurity.
The move comes after more than 600 abduction cases were reported in November 2025, including the kidnapping of over 300 students in Niger State, 38 worshippers in Kwara State, and 25 students in Kebbi State.
An internal circular dated December 3 and signed by Maj. Gen. E. I. Okoro on behalf of the Chief of Army Staff cited provisions in the Harmonised Terms and Conditions of Service Officers (HTACOS) 2024, allowing service extensions “in the interest of the service.” The memo explains that officers usually retire upon reaching age limits, completing 35 years of service, or failing promotion/conversion boards, but these rules can be overridden during national emergencies.
READ ALSO:
- Dangote urges wealthy Nigerians to invest in industries, not luxury cars, private jets
- Mohamed Salah Slams Liverpool Boss Arne Slot, Hints at Anfield Exit Ahead of AFCON Departure
- Indonesia Flood Disaster: Death Toll Exceeds 900 as Search for Hundreds Continues
The suspension affects officers who have:
- Failed promotion examinations three times
- Been passed over repeatedly at promotion boards
- Reached rank age limits
- Failed conversion boards thrice
- Completed 35 years of service
Officers granted extensions will remain in service but will not be eligible for further promotions, courses, secondments, or extra-regimental appointments. Those unwilling to continue can still proceed with standard exit procedures.
Commanders have been instructed to communicate the directive and manage morale across units, with the policy to be reviewed once national security conditions improve.
Nigerian Army Suspends Retirements for Officers Amid Nationwide Security Emergency
-
International3 days agoMeta to Block Under-16s from Instagram, Facebook, Threads ahead of Australia’s World-First Youth Social Media Ban
-
metro3 days agoSenate Launches Emergency Probe into Widespread Lead Poisoning in Ogijo, Lagos/Ogun
-
News3 days agoBREAKING: Tinubu Sends Fresh Ambassadorial Nominations to Senate, Names Ibas, Ita Enang, Dambazau
-
Auto3 days agoCourt of Appeal Affirms Ruling Barring VIO from Seizing Vehicles or Fining Motorists
-
News3 days agoEmber-months safety: Carloha, FRSC intensify campaign against distracted driving
-
News3 days agoUS authorities arrest Nigerian CEO Cashmir Chinedu Luke for alleged $7m VA fraud
-
Sports1 day ago2026 FIFA World Cup Draw: England Draw Croatia as Brazil Face Morocco in Tournament Opener
-
metro3 days agoFG secures release of three Nigerians detained in Saudi Arabia

