News
House of Reps Approves Tinubu’s $516.3m External Loan Request
House of Reps Approves Tinubu’s $516.3m External Loan Request
The House of Representatives has approved President Bola Tinubu’s request to secure a fresh external loan worth $516.3 million, paving the way for the Federal Government to access syndicated financing coordinated by Deutsche Bank AG.
The approval was granted on Tuesday during plenary in Abuja following the consideration and adoption of a report presented by the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Hon. Abdullahi Rasheed.
According to the report, the exact approved amount is $516,333,007, which will be sourced through a syndicated loan arrangement involving multiple international lenders under the coordination of Deutsche Bank AG.
Lawmakers said the financing package is intended to support critical national development projects and priority sectors of the economy as the Federal Government continues efforts to stabilize public finances and accelerate infrastructure growth.
The committee informed the House that the proposed loan complied with existing debt management regulations and had undergone scrutiny by relevant government institutions, including the Debt Management Office (DMO) and the Federal Ministry of Finance.
READ ALSO:
- Aisha Achimugu Denies Sanwo-Olu Link, Speaks on EFCC Case, $13m Forfeiture Battle
- BREAKING: APC Presents ₦100m Presidential Forms to Faleke for Tinubu
- Global Oil Market Shaken as UAE Announces Withdrawal from OPEC
During deliberations, members of the House examined the repayment structure, loan terms, and fiscal implications before eventually adopting the committee’s recommendations without significant opposition.
Sources within the National Assembly said the loan is expected to support projects linked to transportation infrastructure, energy, healthcare, agriculture, and economic reform programmes being implemented by the Tinubu administration.
Although the Federal Government is yet to publicly release a comprehensive breakdown of all projects tied to the facility, officials described the borrowing as part of Nigeria’s broader external financing strategy aimed at addressing infrastructure deficits and stimulating economic growth.
The syndicated financing model approved by lawmakers allows multiple international financial institutions to jointly provide the loan, thereby reducing risks for individual lenders while enabling the borrower to access large-scale funding.
Economic analysts note that syndicated loans are commonly used by governments and large corporations seeking substantial financing for long-term development projects.
The latest approval comes amid growing concerns over Nigeria’s rising debt profile and mounting debt servicing obligations. Recent data from the Debt Management Office showed that Nigeria’s total public debt has continued to increase due to persistent budget deficits, currency pressures, and heavy reliance on borrowing to fund infrastructure and social programmes.
Despite these concerns, supporters of the Tinubu administration argue that strategic borrowing remains necessary to finance critical projects capable of driving economic expansion, improving productivity, and creating jobs.
Government officials have repeatedly maintained that the administration is focused on securing concessional and commercially viable financing arrangements that align with Nigeria’s long-term economic objectives.
The approval also reflects continued cooperation between the executive and legislative arms of government on fiscal and economic policy matters, especially regarding external borrowing and national development funding.
House of Reps Approves Tinubu’s $516.3m External Loan Request
![]()
News
School Shooting: 14-Year-Old Student Kills Grandparents, 6 at Nonthaburi School
News
Lagos Needs 80,000 More Health Workers to Avert Crisis – Sanwo-Olu Raises Alarm
News
Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service
Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service
President Bola Ahmed Tinubu has approved the recruitment of 3,252 verified Parent-Teacher Association (PTA) teachers into the Federal Civil Service, a landmark decision that ends years of uncertainty for thousands of educators who have kept classrooms running in Federal Unity Colleges across Nigeria. The approval, announced on Thursday by Minister of Education Dr Tunji Alausa, represents one of the most significant interventions by the current administration to address the persistent shortage of teaching personnel in federal secondary schools. The Minister described the decision as a major milestone that reflects President Tinubu’s commitment to revitalising the education sector and investing in the country’s future through improved teaching and learning. According to the minister, priority will be given to absorbing verified PTA teachers, many of whom have served in Federal Unity Colleges and Federal Technical Colleges for nearly 25 years without being absorbed into the mainstream public service. “This is a President who cares deeply for Nigeria and for the future of our country,” Alausa stated. “The President has approved the recruitment of teachers. Priority will be given to absorbing verified PTA teachers, many of whom have served in our Federal Unity Colleges and Federal Technical Colleges for almost 25 years. This approval provides them with the opportunity to become part of the mainstream public service.”
Dr Alausa explained that the approval followed a comprehensive verification exercise conducted by an Inter-Ministerial Committee, which carefully screened eligible PTA teachers across Federal Unity Colleges nationwide. The exercise verified 3,252 teachers across the cadres of Education Officers, Assistant Education Officers and Technical Instructors, paving the way for their regularisation upon completion of all statutory requirements. The minister noted that the recruitment represents another milestone in the implementation of the administration’s Renewed Hope Agenda, stressing that it would significantly improve teacher-to-student ratios in Federal Unity Colleges while recognising the dedication of PTA teachers who have continued to serve despite years of uncertainty over their employment status. The minister added that integrating experienced PTA teachers into the federal public service would help preserve institutional knowledge, strengthen classroom instruction and improve learning outcomes across the colleges. He noted that the recruitment aligns with the Federal Government’s broader strategy to enhance teaching quality and restore Federal Unity Colleges as centres of academic excellence. Dr Alausa also reaffirmed the commitment of the Federal Ministry of Education to collaborate with relevant government agencies to complete the outstanding statutory procedures required for the issuance of final letters of appointment in line with existing public service regulations. He assured the verified PTA teachers that the ministry would ensure the regularisation exercise is concluded transparently, fairly and in strict compliance with due process and established public service rules.
READ ALSO:
- Osun Govt Sues EFCC, First Bank for ₦2 Billion Over Unlawful Account Freeze
- Trump Signs New Executive Orders Targeting Birthright Citizenship, ‘Birth Tourism’
- Trump rejects US munitions shortage reports, threatens alleged leakers
For many years, Federal Unity Colleges have relied heavily on PTA teachers engaged and paid by Parent-Teacher Associations to bridge chronic staffing gaps caused by inadequate recruitment into the federal teaching service. Many of these teachers have worked in the colleges for between 10 and 25 years without permanent appointments, despite performing the same classroom responsibilities as regular government-employed teachers, and without pension benefits or employment security available to regular civil servants. Successive administrations received appeals from the affected teachers and education stakeholders to regularise their appointments, arguing that the prolonged reliance on PTA-funded staff placed a financial burden on parents and created job insecurity for thousands of qualified teachers. The minister stressed that no education system can rise above the quality of its teachers, and that investing in teachers remains critical to building a stronger and more competitive education system. He commended the PTA teachers for their resilience and commitment to duty despite the uncertainty surrounding their employment status. The recruitment approval has been widely welcomed by education stakeholders and the affected teachers, who have long campaigned for regularisation of their appointments.
The recruitment of 3,252 PTA teachers into the Federal Civil Service represents a significant boost for the country’s education sector. By absorbing experienced educators who have already demonstrated their competence in the classroom, the Federal Government is taking a strategic approach to addressing the teacher shortage in Federal Unity Colleges. The move is expected to improve the quality of education in these institutions, reduce the financial burden on parents who have been funding PTA teachers, and provide job security and benefits for thousands of dedicated educators. The regularisation of these teachers also sets a precedent for addressing similar challenges in other sectors where contract or PTA-funded staff have been providing essential services without proper recognition or benefits.
Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service
![]()
-
metro2 days agoTroops arrest four suspected Boko Haram, ISWAP suppliers, intercept 20 relatives
-
News2 days agoTinubu Meets Jim Ovia, NELFUND CEO at Aso Rock as Student Loans Hit ₦303bn
-
Education2 days agoBREAKING: 61.54% Pass Rate as WAEC Releases 2026 WASSCE Results – How to Check Results
-
metro2 days agoPolice Probe AIG Jimoh Over VeryDarkMan’s Corruption Allegations
-
metro2 days agoN78 Million Solar Inverters, 410 Cattle, 10 Guns Recovered as Kaduna Police Arrest 25 Suspects
-
metro2 days agoBoat Operators Rescue Woman Who Jumped Into Lagos Lagoon From Carter Bridge
-
Politics2 days agoWhy I Rejected Tinubu, Buhari’s Offers to Join APC — Fayose
-
Sports1 day agoSuper Falcons Thrash Egypt 6-2, Book WAFCON Quarter-Final Date with Cameroon
