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Senate Approves President Tinubu’s N1.767 Trillion Loan Request

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The Senate has granted approval for a $2.09 billion (N1.767 trillion) loan requested by President Bola Tinubu to address the N9.7 trillion deficit in the N28.7 trillion 2024 budget. The decision was made during Thursday’s plenary, just 48 hours after the request was submitted to the National Assembly.

President Tinubu, in letters to both chambers of the legislature earlier this week, highlighted the importance of the loan for financing key projects and programs critical to national development.

Following the request, the Senate assigned its Committee on Local and Foreign Debts, led by Senator Aliyu Wammako (APC, Sokoto North), to review the proposal. Presenting the committee’s report, Senator Wammako described the loan as vital for implementing the Debt Management Strategy, reducing borrowing costs, extending debt maturity, and bolstering Nigeria’s external reserves.

The committee recommended raising the loan through Eurobonds or similar international financing instruments, subject to market conditions. It also suggested that any excess funds from exchange rate adjustments be directed toward capital projects in 2024 to support infrastructure and economic growth.

The Senate approved the loan unanimously, with no objections raised during deliberations. Deputy Senate President Jibrin Barau, who presided over the session, commended the Wammako-led committee for its swift and thorough handling of the proposal.

This loan approval is part of the government’s broader strategy to bridge fiscal gaps while focusing on developmental priorities and economic stability.

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Former NBC DG, Prof. Tom Adaba, Passes Away at 84

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Late Tom Adaba

Former Director-General of the National Broadcasting Commission (NBC), Professor Tom Adaba, has passed away at the age of 84.

According to reports, he died peacefully on Saturday in Abuja.

Chief Adinoyi Joe Anivasa, Secretary of the Egbira Elders Forum, confirmed the news, stating, “I feel sad to inform you that our elder and leader, Prof. Tom A. Adaba, has answered the call of nature this morning. Further details about his burial arrangements will be communicated later.”

Born on July 2, 1941, Prof. Adaba made significant contributions to Nigeria’s broadcasting industry. Between 1988 and 1992, he became the first Nigerian to serve as President of the African Council for Communication Education.

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Osun LG Election Holds Amid AGF, Police Opposition

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Despite calls for suspension from the Attorney General of the Federation (AGF) and the Nigeria Police Force, the Osun State local government election proceeded as scheduled on Saturday.

Governor Ademola Adeleke voted in Ede North Local Government Area, describing the process as peaceful and urging residents to exercise their franchise.

The AGF, Lateef Fagbemi, cited a Court of Appeal ruling allegedly reinstating sacked local government chairmen, while the police warned of potential security threats.

However, the Osun State government insisted on holding the election, emphasizing its commitment to obeying a court directive. The opposition All Progressives Congress (APC) boycotted the polls.

Voting took place under tight security, with minimal commercial activity observed in Osogbo, the state capital.

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Buhari Snubs IBB’s Book Launch Over 1985 Coup – APC’s Vatsa

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Muhammadu Buhari

A chieftain of the All Progressives Congress (APC) and former Commissioner for Information, Jonathan Vatsa, has indicated that Firmer President Muhammadu Buhari’s absence at the public presentation of former military ruler General Ibrahim Babangida’s autobiography, The Journey of Service, held in Abuja on Thursday was not surprising.

Speaking to journalists in Minna on Saturday, Vatsa suggested that Buhari’s no-show was a result of unresolved bitterness over the 1985 coup, in which Babangida overthrew him and subsequently detained him.
According to Vatsa, Buhari may still harbor resentment, especially over being denied the chance to bid his late mother farewell while in detention.

“It Would Have Been the 9th Wonder of the World If Buhari Had Attended”

Vatsa claimed that Buhari’s absence was expected, given the deep-seated history between the two former leaders.

“The memory of the ‘mother of all betrayals’ has not left him. It would have been the ninth wonder of the world if Buhari had attended that book launch,” he said.

The APC chieftain also linked Buhari’s perceived neglect of Niger State during his eight-year presidency to his history with Babangida.

“The whole world knows that Niger State was made a scapegoat by Buhari because of IBB. For eight years, he did not pay any serious official visit to the state, and not a single federal project was executed here. The Baro Port project was abandoned, and federal roads across the state were left in disrepair,” Vatsa alleged.

He claimed that despite the overwhelming votes Buhari received from Niger State in 2015 and 2019, the state was sidelined due to the personal history between the former presidents.

“When two elephants fight, it is the grass that suffers. Niger State paid for the sin of one man,” he lamented.

When asked for his opinion on the contents of IBB’s autobiography, Vatsa said he would reserve his comments until he has read and digested the book fully.

“There are certain things I expected to see in the book. Once I am done reading, I will invite you all for my comments,” he stated.

The book launch attracted several high-profile attendees, including President Bola Tinubu, former presidents Olusegun Obasanjo, Goodluck Jonathan, and Yakubu Gowon, as well as former military head of state Abdulsalami Abubakar.
Other dignitaries included former Ghanaian President Akufo-Addo, former Sierra Leonean President Ernest Koroma, and ex-vice presidents Atiku Abubakar, Yemi Osinbajo, and Namadi Sambo, alongside traditional rulers and state governors.

Buhari’s absence, however, remained a major talking point, reinforcing speculations that the 1985 coup remains a sore point in Nigeria’s political history.

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