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.

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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

MURIC Condemns Rape of 11-Year-Old Hijab Girl in Ogun, Warns Against Cover-Up

The Muslim Rights Concern (MURIC), Ogun State Chapter, has demanded full justice for an 11-year-old Muslim girl who was allegedly raped by a man identified as Mr. Michael while returning from Arabic classes in Mowe, Ogun State.

The incident, which occurred on April 21, 2026, along Peace Lane, off Emerald School Road, Homeland CDA, Mowe, has been described by the human rights group as “a catastrophic act of depravity.”

According to a statement issued on Monday by the State Chairman, Ustaadh Tajudeen Jimoh Alao, and the State Secretary, Ambassador Olaleye Rasheed Damilare, the victim was wearing her hijab when she was waylaid on a deserted street, grabbed from behind, gagged, and dragged into an uncompleted building where she was brutally raped.

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MURIC said it is deeply disturbed by reports that influential individuals have been visiting the victim’s family in an attempt to bury the case, questioning whether the family has the financial means to pursue legal redress.

“If this were your daughter, your sister, or your niece, would you be seeking just ‘dialogue’?” the statement queried. “Justice is not a commodity for sale. Defending the rapist is a crime against humanity.”

The group commended the Nigeria Police, Mowe Division, for initial investigations and the transfer of the case to the Gender-Based Violence Unit at the Police Area Command, Oke Ilewo, Abeokuta, noting that the unit is led by a female officer whose maternal instincts and professionalism are trusted.

MURIC also appealed to the Ogun State Government to establish special courts for rape and child abuse cases, arguing that the current system allows oppressors to walk free while victims live in a prison of fear.

“Every rapist is an enemy of humanity,” the statement added, urging the Muslim community and all stakeholders to remain calm but vigilant.

The organization reaffirmed its motto: “Dialogue, Not Violence,” but insisted that rape is neither a mistake nor an oversight, but a deliberate act of violence that must attract the full weight of the law.

MURIC Condemns Rape of 11-Year-Old Hijab Girl in Ogun, Warns Against Cover-Up

BREAKING: Lagos Politics Heats Up as Sanwo-Olu Endorses Deputy Governor Hamzat ( VIDEO)

Governor of Lagos State, Babajide Sanwo-Olu, has officially endorsed his Deputy Governor, Kadri Obafemi Hamzat

BNXN X SARZ | Khvicha Kvaratskhelia | Victor Osimhen | #BurgerKingSmallChopzzz | Friction | Best International Act | Nathan Ake | Shehu Sani pic.twitter.com/A4bRwBXauM

— Newstrends.Ng (@Newstrends_ng) April 27, 2026

The Governor of Lagos State, Babajide Sanwo-Olu, has officially endorsed his Deputy Governor, Kadri Obafemi Hamzat, as his preferred successor ahead of the 2027 governorship election in the state.

The endorsement was made on Monday at the Lagos House, Marina, during a meeting that brought together key political stakeholders and members of the state executive council.

The development signals an early alignment within Lagos political leadership as preparations gradually build toward the 2027 general elections, particularly within the ruling party structure in the state.

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Although full details of the meeting were not immediately disclosed, sources indicate that the governor’s endorsement reflects continuity in governance and ongoing confidence in his deputy’s role in the current administration.

In recent weeks, Hamzat has reportedly been engaging in consultative visits with political leaders, party stakeholders, and community representatives across Lagos State, strengthening his visibility within the state’s political landscape ahead of the next election cycle.

Political analysts say the endorsement could significantly shape internal party dynamics, given Lagos State’s history of structured succession planning and strong influence within national politics.

Observers also note that such early positioning often plays a key role in consolidating support within party ranks, particularly in a politically strategic state like Lagos.

The ruling party has yet to issue a formal statewide statement detailing the broader implications of the endorsement, but political discussions around the 2027 governorship race have already begun gaining momentum.

Further developments are expected as political consultations continue across various levels of government and party structures in the state.

Sanwo-Olu Endorses Deputy Hamzat for 2027 Lagos Governorship Race at Lagos House

BNXN X SARZ | Khvicha Kvaratskhelia | Victor Osimhen | #BurgerKingSmallChopzzz | Friction | Best International Act | Nathan Ake | Shehu Sani pic.twitter.com/FCv8SZqqTn

— Newstrends.Ng (@Newstrends_ng) April 27, 2026

BREAKING: Lagos Politics Heats Up as Sanwo-Olu Endorses Deputy Governor Hamzat ( VIDEO)