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SERAP gives Sani, Wike, others seven days to account for N5.9trn, $4.6bn loans
SERAP gives Sani, Wike, others seven days to account for N5.9trn, $4.6bn loans
Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to “widely publish copies of the loan agreements and spending details of some N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, including details and locations of projects executed with the loans.”
SERAP also urged them to “promptly invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of the domestic and external loans obtained by your state and the FCT.”
SERAP’s request followed the disclosure last week by Governor Uba Sani of Kaduna State that the immediate past administration of Nasir El-Rufai left $587m, N85bn debt and 115 contractual labilities, making it impossible for the state to pay salaries.
In the Freedom of Information requests dated 30 March 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “It is in the public interest to publish copies of the loan agreements and details of how the loans obtained are spent.”
SERAP said, “Nigerians have the right to know how their states are spending the domestic and external loans obtained by the governors.”
SERAP said, “Widely publishing copies of the loan agreements and spending details of the loans obtained would ensure that persons with public responsibilities are answerable to the people for the performance of their duties in the management of public funds.”
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The FoI requests, read in part: “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and your state to comply with our request in the public interest.”
“SERAP is seriously concerned that many of the country’s 36 states and FCT are allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.”
“Transparency in the spending of the loans obtained by your state is fundamental to increase accountability, prevent corruption, and build trust in democratic institutions with the ultimate aim of strengthening the rule of law.”
“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion.”
“Many states and the FCT reportedly owe civil servants’ salaries and pensions. Several states are borrowing to pay salaries. Millions of Nigerians resident in your state and the FCT continue to be denied access to basic public goods and services such as quality education and healthcare.”
“Several states including your state are also reportedly spending public funds which may include the domestic and external loans to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.”
“SERAP is seriously concerned that the domestic and external loans obtained by your state and the FCT are vulnerable to corruption and mismanagement. Your government has a responsibility to ensure transparency and accountability in how any loans obtained by your state are spent, to reduce vulnerability to corruption and mismanagement.”
“Publishing copies of the loan agreements obtained by your state and the FCT would allow Nigerians to scrutinise them, and promote transparency and accountability on the spending of public funds including the loans obtained.”
“SERAP believes that providing and widely publishing the details of the spending of the domestic and external loans obtained by your state and the FCT would enable Nigerians to effectively and meaningfully engage in the management of the loans.”
“SERAP believes that the constitutional principle of democracy also provides a foundation for Nigerians’ right to know the details of loan agreements and how the loans obtained are spent. Citizens’ right to know promotes openness, transparency, and accountability that is in turn crucial for the country’s democratic order.”
“The effective operation of representative democracy depends on the people being able to scrutinize, discuss and contribute to government decision making, including on the spending of loans obtained by your state and the FCT.”
“To do this, they need information to enable them to participate more effectively in the management of public funds by their state government and the FCT.”
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“The public interest in obtaining information about expenditures relating to the loans obtained by your state outweighs any privacy or other interest. Moreover, the oversight afforded by public access to such details would serve as an important check on the activities of your state and help to prevent abuses of the public trust.”
“SERAP is concerned that there is a significant risk of mismanagement or diversion of funds linked to loans obtained by state governments including your state. The accounts of Nigeria’s 36 states and the FCT are generally not open to public scrutiny.”
“Your state has obligations under international anticorruption and human rights law, including a responsibility to promote transparency and accountability in the management of public funds, prevent mismanagement or diversion of public funds, and redress any abuse of public trust.”
“The Nigerian Constitution, human rights and anticorruption treaties to which Nigeria is a state party also impose obligations on your state to prevent mismanagement or diversion of public funds including the loans obtained.”
“SERAP is seriously concerned that years of allegations of corruption and mismanagement of public funds including the loans obtained by states have contributed to widespread poverty, underdevelopment and lack of access to public goods and services.”
“Opacity in the spending of loans obtained by states has continued to have negative impacts on the fundamental interests of the citizens and the public interest.”
“Transparency would ensure that these loans are not diverted into private pockets, and increase public trust that these loans are used and any future loans would be used to benefit Nigerians resident in your state.
“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including about the loan agreements and how the loans obtained are spent.”
SERAP added “Your state cannot hide under the excuse that the Freedom of Information Act does not apply to your state to refuse to provide the details being sought, as your state also has clear legal obligations to provide the information as prescribed by provisions of the Nigerian Constitution 1999 [as amended], and the African Charter on Human and Peoples’ Rights (Ratification and. Enforcement) Act.
SERAP gives Sani, Wike, others seven days to account for N5.9trn, $4.6bn loans
News
World Bank Deletes Nigeria Development Update Report Days After Release
World Bank Deletes Nigeria Development Update Report Days After Release
The World Bank has removed its latest Nigeria Development Update (NDU) report from its official website, just three days after its publication, raising concerns over the reasons behind the sudden action.
The report, titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” was released on April 7, 2026, but the document link is no longer accessible, returning a “page not found” error when users attempt to download it.
Despite the removal, the accompanying press statement remains available, outlining key findings on Nigeria’s economic performance and policy outlook.
In the now-withdrawn report, the World Bank said Nigeria’s economy recorded 4 percent growth in 2025, with inflation dropping significantly to 15.1 percent in February 2026 from 26.3 percent recorded in the same period a year earlier. The improvement was attributed to tighter monetary policies and better food supply conditions.
The report also highlighted that Nigeria’s macroeconomic environment has strengthened following recent stabilisation reforms, noting improvements in key indicators and steady expansion across major sectors of the economy.
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Early data for 2026, according to the report, suggested that growth momentum had been sustained, although global tensions posed a mild drag on economic activity.
A major focus of the publication was early childhood development, which the World Bank described as critical to Nigeria’s long-term growth. It stressed that stronger investment in human capital is essential for translating macroeconomic gains into job creation, poverty reduction, and improved living standards.
The report painted a worrying picture of child welfare in the country, revealing that more than 110 out of every 1,000 children die before the age of five, while many others fail to meet basic developmental milestones due to poor nutrition, limited access to healthcare, and inadequate early education.
It warned that without urgent intervention, Nigeria risks missing out on the demographic dividend expected from its young population.
In addition, the report reportedly addressed ongoing structural reforms, including exchange rate unification, fiscal adjustments, and subsidy removals, noting that while these measures have helped stabilise the economy, their full benefits will depend on sustained implementation and targeted social support for vulnerable households.
However, parts of the report—particularly policy recommendations around the downstream petroleum sector—have drawn attention. The World Bank was said to have advised that Nigeria may need to continue importing petrol (PMS) in the short term to ensure supply stability while transitioning to a fully liberalised and competitive market.
The recommendation comes amid ongoing reforms in Nigeria’s oil and gas sector and has been viewed by some analysts as sensitive, given the country’s push for domestic refining capacity.
In a subsequent clarification following reactions, the World Bank emphasised that its recommendations should be seen within the broader context of energy security, market stability, and global supply uncertainties, rather than as a fixed policy directive.
The NDU is a bi-annual flagship report that evaluates Nigeria’s economic and social developments and provides policy guidance for sustainable growth.
As of the time of filing this report, the World Bank has not issued an official explanation for the removal of the April 2026 edition, fuelling speculation that the document may be undergoing revisions or internal review.
Economists say the development highlights the sensitivity of reform-related recommendations in Nigeria’s current economic climate, particularly those touching on fuel policy and social welfare, as the country navigates a delicate recovery path.
World Bank Deletes Nigeria Development Update Report Days After Release
News
Tinubu Promises Stable Electricity as Bayelsa Unveils 60MW Power Project
Tinubu Promises Stable Electricity as Bayelsa Unveils 60MW Power Project
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to delivering stable electricity capable of driving economic growth, industrialisation, and national development, saying ongoing reforms in the power sector will soon yield tangible results.
Tinubu made the remarks in Bayelsa State during the commissioning of major infrastructure projects executed by the state government, including a 60-megawatt Independent Power Project (IPP) located at Elebele in Ogbia Local Government Area.
He described the power project as a “significant step” toward strengthening energy security and subnational electricity generation, noting that no meaningful industrialisation or job creation can happen without reliable power supply.
“There can be no industrialisation, skill development and empowerment without power. I assure Nigerians that we will have electricity to power our growth,” the President said.
The IPP, powered by gas turbines, is expected to supply electricity to Yenagoa and surrounding communities, reducing dependence on the national grid and improving power reliability for households and businesses.
Alongside the power project, Tinubu also commissioned several key infrastructure projects, including the 27-kilometre dualised New Yenagoa City Road 1, the 630-metre Angiama–Oporoma Bridge, and the Sagbama/Ekeremor Road, all aimed at improving connectivity and boosting economic activity across Bayelsa State.
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He praised the state government led by Governor Douye Diri for what he described as “purposeful and progressive leadership,” adding that collaboration between federal and state governments remains essential for sustainable development.
“Development advances further and faster when the federal and state governments work in partnership toward a shared purpose,” Tinubu said.
The President also used the occasion to observe a minute’s silence in honour of soldiers killed in a recent terrorist attack on a military base in Borno State, reaffirming his administration’s commitment to defeating terrorism and banditry across the country.
“We will continue to equip and train our armed forces. We will defeat terrorism and banditry, regardless of their shenanigans,” he assured.
Tinubu further acknowledged the economic challenges facing Nigerians, including rising living costs linked to global energy disruptions, but insisted that government interventions are being implemented to ease hardship and support vulnerable citizens.
“We will continue to find ways to ameliorate the suffering of the vulnerable. This is a government that cares,” he said.
At the event, Tinubu also commended former President Goodluck Jonathan, describing him as “one of the most humble and reliable democrats on the continent,” while praising ongoing development efforts in Bayelsa State.
Governor Diri, in his remarks, appealed for federal refunds on projects executed on federal roads by the state government and highlighted ongoing infrastructure efforts under his “Assured Prosperity” agenda, including roads, bridges, civic buildings, and sports facilities.
He described the newly commissioned Yenagoa–Oporoma–Ukubie road as a transformative project that has ended years of isolation for several riverine communities in Southern Ijaw.
The Bayelsa IPP is expected to enhance power supply stability, attract investment, support SMEs, and stimulate economic diversification in the oil-rich state.
The commissioning ceremony was attended by several top political figures, including Senate President Godswill Akpabio, governors from multiple states, senior federal officials, and traditional leaders, reflecting the national significance of the projects.
Residents reportedly thronged the project sites in celebration, cheering and dancing as the President arrived at the Bayelsa International Airport aboard the presidential jet.
Tinubu concluded by expressing optimism about Nigeria’s future, saying: “Nigeria will be great, and we will succeed.”
Tinubu Promises Stable Electricity as Bayelsa Unveils 60MW Power Project
News
US Embassy Suspends Abuja Visa Appointments Over Security Concerns
US Embassy Suspends Abuja Visa Appointments Over Security Concerns
The United States Embassy in Nigeria has suspended visa appointments in Abuja following heightened security concerns, a move that has disrupted travel plans for hundreds of applicants in Abuja.
In an official notice released via its communication channels, the embassy confirmed that all visa interviews in Abuja have been cancelled until further notice, urging affected applicants to check their emails for updates on rescheduled appointments.
“U.S. Embassy Abuja is closed for visa appointments. Applicants should check their email for details on rescheduled appointments,” the statement read. It added that visa services in Lagos remain operational at the United States Consulate General Lagos, providing an alternative for applicants who can access the facility.
The embassy further clarified that American citizen services in Abuja will continue only in emergency situations and strictly by appointment, indicating a temporary scale-down of operations in the capital.
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The suspension follows a recent directive by the United States Department of State authorising the departure of non-essential staff and their families from Abuja, citing a deteriorating security situation in Nigeria.
An updated U.S. travel advisory has also placed Nigeria under a “Level 3: Reconsider Travel” status, warning of persistent threats including terrorism, kidnapping, crime, and civil unrest. Several states have been categorised under the stricter “Level 4: Do Not Travel” advisory due to high-risk security conditions.
States listed include Borno State, Yobe State, Taraba State, Niger State, Plateau State, and parts of Adamawa State, where threats linked to terrorism and kidnapping remain high. Other states such as Kaduna State, Katsina State, Zamfara State, and Sokoto State were also flagged over insecurity concerns.
The advisory has triggered reactions from the Federal Government of Nigeria, which described the assessment as “unbalanced” and not fully reflective of ongoing efforts to address insecurity nationwide. Authorities warned that such reports could negatively impact Nigeria’s global image and economic activities.
Despite the disruption in Abuja, visa processing and consular services continue in Lagos, offering a temporary alternative for applicants. However, the development is expected to cause delays in visa processing, particularly for students, business travellers, and individuals with urgent travel needs.
The US Embassy visa suspension in Abuja highlights the broader impact of security challenges on diplomatic operations and international travel, as uncertainty remains over when normal services will resume in the capital.
US Embassy Suspends Abuja Visa Appointments Over Security Concerns
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