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Sanwo-Olu's statements follow a National Bureau of Statistics (NBS) report, which cited Lagos as Nigeria's highest debtor with ₦929.41 billion in domestic debt. Governor Babajide Sanwo-Olu has addressed concerns over Lagos's position as Nigeria's most indebted state, assuring residents that the debt level is well within sustainable limits. Speaking on Channels Television's Politics Today , Sanwo-Olu highlighted Lagos's robust financial management, stating , "The standard debt ratio we are meant to meet is about 40%, but today, we are around 28-29%, so we are not even close to the threshold." Sanwo-Olu positioned the debt as a necessary investment in the state's growth, noting that Lagos's debt-to-revenue ratio remains safely below the national benchmark of 40%. According to him, Lagos's debt, currently standing at ₦2 trillion, reflects prudent financial management and growth potential. "This ₦2 trillion debt figure is just a numb...

The visit underscores Nigeria's commitment to expanding international partnerships to support national development goals. Vice President Kashim Shettima arrived in Stockholm, Sweden, today, embarking on a two-day diplomatic mission to strengthen Nigeria-Sweden relations. The high-level visit, endorsed by President Bola Ahmed Tinubu , highlights areas such as trade, investment, ICT, education, mining, and agriculture. Shettima is accompanied by Plateau State Governor Caleb Mutfwang, Foreign Affairs Minister Ambassador Yusuf Tuggar , and key officials from Nigerian agencies. Shettima is scheduled to meet with Swedish Prime Minister Ulf Kristersson and Crown Princess Victoria during his stay, aiming to forge mutually beneficial collaborations in various sectors. Highlighting the mission's objectives, Shettima's Senior Special Assistant on Media, Stanley Nkwocha, stated, "This engagement is part of a larger drive to secure Nigeria's place in a fast-evolving ...

The CBN boss revealed that a new initiative, backed by partnerships with the Development Bank of Nigeria and the Bank of Industry, is designed to expand financial services access and improve economic opportunities for female entrepreneurs. At the 30th Nigeria Economic Summit in Abuja, Central Bank of Nigeria (CBN) Governor Yemi Cardoso assured that increasing financial inclusion for women is a top priority. In a question-and-answer session, he outlined measures the CBN will take to close the gender gap within the banking sector and empower women economically. Addressing a question on the underrepresentation of women in finance, Mr Cardoso acknowledged the essential role women play in the Nigerian economy, noting that "women provide a very, very big and significant portion of the workforce" and contribute extensively across various sectors. He highlighted their resilience and silent influence in advancing economic activities, particularly in Nigeria and other parts of Af...

Cardoso reinforced the CBN's commitment to economic stability while calling for a collective effort to diversify Nigeria's economy, especially from its dependence on oil, to achieve resilient growth. The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has charged Nigerians with embracing the economic fundamentals to tame inflation. Mr Cardoso stated this on Tuesday, October 15, during a question-and-answer session at the 30th Nigeria Economic Summit in Abuja. The session addressed pressing issues surrounding Nigeria's economy, monetary policy, and rising inflation. As he discussed the country's economic landscape, Cardoso emphasised the critical importance of restoring economic fundamentals to ensure long-term stability. Highlighting Nigeria's economic challenges, Cardoso stated, "I see no substitute for the fundamentals of the economy. Before you start talking about trade-offs, we must agree that we have to get the fundamentals of the e...

President Tinubu said his government and Nigeria must drive development, create opportunities for women, and ensure they have access to justice To ensure Nigerian women have access to justice, President Bola Tinubu has vowed to protect them against all forms of discrimination and violence through gender-sensitive policies. Represented by the Secretary to the Government of the Federation (SGF), George Akume , the President while speaking at the Empower-Her- Nigeria for Women Farming, Health, Empowerment, Justice, Entertainment and Fundraising Programme on Tuesday, October 15, 2024, said he is committed to advancing women’s cause, empowerment and gender equality. President Tinubu said his government and Nigeria must drive development, create opportunities for women, and ensure they have access to justice and protection from violence. “We recognise the challenges women face with limited access to education and healthcare, gender-based violence, and economic disparity. This is imperat...

The Vice President's remarks underscored the administration's position that policy shifts, though challenging, are geared toward longer-term economic stability. Vice President Kashim Shettima has acknowledged the challenging economic climate faced by Nigerians, affirming that the Federal Government remains sensitive to the hardships confronting the population, particularly the poor. Speaking at the 30th anniversary of the Nigerian Economic Summit in Abuja, Shettima admitted that some government policies, though painful, were necessary to address pressing economic challenges. Shettima, with a strong sense of empathy, reiterated President Bola Tinubu 's and his own unwavering commitment to understanding the struggles of ordinary Nigerians. "My heart and the heart of President Bola Tinubu go to the Nigerian people," he remarked. "We empathise with what the poor and the young are going through in the Nigerian nation, but we have no option." READ ALSO:...

Despite his ministerial role in Tinubu's APC-led administration, Wike has publicly committed to remaining within the PDP. Former presidential candidate and PDP chieftain Dele Momodu has accused Federal Capital Territory (FCT) Minister Nyesom Wike and his associates of orchestrating a crisis within the People's Democratic Party (PDP). According to Momodu, the group's intentions are aimed at influencing the 2027 presidential race. Speaking on Channels Television's Politics Today , Momodu asserted, "Truth is constant; they have never hidden their mission in the ongoing struggle in the PDP." He suggested that Wike's faction within the PDP hopes President Bola Tinubu will not seek re-election, positioning themselves to use the PDP as a platform to contest the presidency. READ ALSO: Wike, Fubara's feud has gone beyond reconciliation - Fayose "They're hoping that somewhere along the line, Tinubu will not run in 2027, and then they'll hol...