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Nigeria to receive fresh $500m AfDB loan for budget support

Published

2 months ago

October 7, 2025

African Development Bank (AfDB)

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.

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“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

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Court Sends Chris Ngige to Kuje Prison on EFCC’s N2.2bn Fraud Charges

Published

1 hour ago

December 12, 2025

Trends Admin

former Anambra State Governor, Dr. Chris Ngige

Court Sends Chris Ngige to Kuje Prison on EFCC’s N2.2bn Fraud Charges

A High Court of the Federal Capital Territory (FCT) in Gwarinpa has ordered the remand of former Minister of Labour and Employment, Chris Ngige, in Kuje prison pending the hearing of his bail application.

Justice Maryam Hassan issued the order on Friday after Ngige pleaded not guilty to an eight-count charge filed against him by the Economic and Financial Crimes Commission (EFCC).

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The former minister, who served from November 11, 2015, to May 29, 2023, is being prosecuted for his alleged role in a N2.2 billion contract fraud. The charges include abuse of office and accusations that he received kickbacks from companies that secured contracts from the Nigeria Social Insurance Trust Fund (NSITF).

The court ruled that Ngige should remain in custody until Monday, when his bail application will be heard.

Court Sends Chris Ngige to Kuje Prison on EFCC’s N2.2bn Fraud Charges

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Supreme Court Reinstates Death Sentence for Maryam Sanda Despite Tinubu’s Pardon

Published

1 hour ago

December 12, 2025

Trends Admin

Maryam Sanda

Supreme Court Reinstates Death Sentence for Maryam Sanda Despite Tinubu’s Pardon

The Supreme Court of Nigeria has reaffirmed the death sentence imposed on Maryam Sanda, daughter-in-law of a former PDP chairman, for the culpable homicide of her husband, Bilyamin Bello, in 2017.

Sanda was convicted by an Abuja High Court on January 27, 2020, and sentenced to death by hanging after being found guilty of stabbing her husband to death at their Abuja residence. She had spent six years and eight months in Suleja prison before President Bola Tinubu reduced her punishment to 12 years under the recent presidential pardon initiative.

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According to the Attorney General of the Federation, Lateef Fagbemi, SAN, the clemency was granted on “compassionate grounds” and in the “best interest of the children,” noting Sanda’s good conduct, reformed behaviour, and remorse during incarceration.

However, in a split decision of four to one, a five-member panel of the Supreme Court on Friday overturned the executive intervention and reaffirmed the original death sentence. Delivering the lead judgment, Justice Moore Adumein ruled that the prosecution had proved its case beyond reasonable doubt.

The apex court upheld the earlier decisions of both the trial court and the Court of Appeal, describing them as sound and unassailable. It further held that President Tinubu lacked the constitutional authority to issue a pardon in a homicide case that was still under judicial review.

Sanda’s appeal was dismissed for lacking merit, bringing a definitive close to one of Nigeria’s most widely followed murder conviction cases.

Supreme Court Reinstates Death Sentence for Maryam Sanda Despite Tinubu’s Pardon

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Mother, 10-Month-Old Baby Murdered in Katsina Over Alleged Paternity Dispute

Published

6 hours ago

December 12, 2025

Trends Admin

Katsina State Police Public Relations Officer (PPRO), DSP Abubakar Sadiq Aliyu

Mother, 10-Month-Old Baby Murdered in Katsina Over Alleged Paternity Dispute

A woman and her 10-month-old baby have been found murdered in Sheme village, Faskari Local Government Area, Katsina State, in what authorities believe was linked to a paternity dispute.

The Katsina State Police Command confirmed that detectives are investigating the incident. In a statement, the Police Public Relations Officer, DSP Abubakar Sadiq Aliyu, said 35-year-old Sahabi Rabi’u has been arrested in connection with the killings, while a second suspect remains at large.

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Aliyu explained: “During interrogation, the suspect confessed to the crime and admitted conspiring with a friend, now at large, to lure the victims to the outskirts of Sheme village, where they were killed. The bodies were burnt and thrown into a nearby well.”

Investigations revealed that the murder stemmed from a paternity disagreement, which escalated into a brutal killing. The bodies have been recovered, and the suspect is currently in police custody. Efforts are ongoing to apprehend the fleeing accomplice.

Katsina State Commissioner of Police, Bello Shehu, condemned the killings as “barbaric and inhumane,” assuring that justice will be served. He appealed to members of the public to provide information that could assist in capturing the second suspect, with guarantees of confidentiality.