Connect with us

news

FG printed additional N50bn to support March FAAC – Obaseki

Published

on

The Federal Government had to print additional N50-60bn to augment March allocation to States, Edo Governor Godwin Obaseki has disclosed.

The development, he said, is a clear indication Nigeria is in huge financial trouble.

Speaking at the Edo transition committee stakeholders engagement, Obaseki said the nation’s economy is no longer what it used to be.

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” Obaseki stressed

While lamenting the over-dependence on crude oil, the Governor expressed worry over rising debts of the nation.

He canvassed for diversified economy where all the three tiers of government would have a strategic role to play.

“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion.

“Imagine a family that is just borrowing without any means to pay back and nobody is looking at that. Everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician,” he said.

He added: “Nigeria has changed. The economy of Nigeria is not the same again, whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil everyday.

“So we have run a very strange economy and strange presidential system where the local, state and federal governments, at the end of the month, go and earn salaries. We are the only country in the world that does that.

“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state and the federation.

“But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.

“The current price of crude oil is only a mirage. The major oil companies who are the ones producing are no longer investing much in oil.

“Shell is pulling out of Nigeria and Chevron is now one of the world’s largest investors in alternative fuel, so in another year or so, where will we find this money that we go to share in Abuja?”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

Breaking : Nigerian Soldiers Kill ISWAP Cameraman, Uncover Foreign Terrorist Network in Borno

Published

on


Troops of Operation Hadin Kai have neutralised an Islamic State West Africa Province cameraman and recovered video materials indicating the presence of three foreign facilitators, including a Palestinian Arab identified as a trainer and a Moroccan Arab serving as a medical doctor for the terrorist group in Borno State.

The Acting Military Information Officer, Joint Task Force North East, Operation Hadin Kai, Capt. Muhammed Goni, disclosed this in a statement on Sunday.

According to him, the operational success was recorded on Saturday following a failed infiltration attempt by members of ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State.

Goni said the terrorists attempted to exploit the cover of darkness to breach the troops’ position and loot cholera medical supplies.

The statement read, “Troops of 19 Brigade, Sector 3, Joint Task Force North East, Operation HADIN KAI (OPHK), have decisively foiled an attempted infiltration by ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State, inflicting heavy casualties on the attackers and forcing them to retreat in disarray.

“The successful defence of the location further demonstrates the vigilance, combat readiness and operational effectiveness of troops who continue to deny terrorist elements freedom of action across the North East Theatre.”

The failed attack, he said, occurred at about 10:20 p.m. on July 11, 2026, when the terrorists attempted to exploit the cover of darkness to breach the troops’ position.

“Alert troops swiftly detected the hostile movement and responded with coordinated and overwhelming firepower, compelling the terrorists to abandon their mission of looting cholera medical supplies and withdraw in confusion after suffering severe losses,” Goni said.

According to him, the attempted looting further lends credence to recent intelligence reports of a cholera outbreak within terrorist enclaves, as well as reports of the execution of some affected members by the group.

“The neutralisation of a terrorist cameraman during the failed assault led to the recovery of a Sony camcorder containing highly sensitive recordings of terrorist activities, including operational footage and propaganda materials.

“Preliminary forensic analysis of the last available video recorded prior to the attack indicates that the operation was coordinated by four senior ISWAP commanders (Qai’ds), alongside three foreign terrorist facilitators. They include a Palestinian Arab identified as Abu Ishaq, assessed to be ISWAP’s overall trainer; a Moroccan Arab identified as Abu Thaiba, a medical doctor serving within the terrorist network; and another Arab operative whose identity is yet to be established,” he added.

He said the presence and active involvement of the foreign nationals further reinforced intelligence assessments that ISWAP continued to benefit from external support, specialist expertise and transnational terrorist linkages.

“Following the successful engagement, troops immediately dominated the area and conducted exploitation operations to ascertain the full extent of the terrorists’ losses,” he added.

The Army spokesman said troops recovered the Sony camcorder, several rounds of PKT and 7.62mm Special ammunition, terrorist uniforms and other combat items during the operation.

He further stated that initial analysis of post-engagement satellite imagery revealed terrorists evacuating the bodies of some of their neutralised fighters during their withdrawal.

“This has since been corroborated by credible human intelligence sources, which confirmed that the terrorists suffered heavy casualties, with many others sustaining gunshot wounds during the engagement,” he said.

According to him, two soldiers sustained gunshot wounds during the firefight and were promptly evacuated by air for advanced medical care, adding that both personnel remained in stable condition.

“The failed infiltration attempt represents yet another significant operational setback for ISWAP and caps a costly weekend for the terrorist group following sustained offensive operations and intensified military pressure across the North East Theatre,” he said.

He added that the outcome underscored the increasing difficulty the terrorists faced in executing coordinated attacks against highly alert and combat-ready troops while further degrading their combat capability, morale and freedom of action.

“Operation HADIN KAI remains resolute in sustaining offensive operations, protecting vulnerable communities and dismantling terrorist networks until lasting peace and security are fully restored across the North East,” he assured.

Continue Reading

news

BREAKING: Security Forces Rescue Kidnapped Pupils, Teachers in Oyo Forest Operation

Published

on

Eight kidnappers arrested

Ibadan, Oyo State – Nigerian security agencies have successfully rescued a group of kidnapped pupils and teachers following a coordinated operation in Orire Local Government Area of Oyo State.

Photos circulating after the operation show the rescued victims gathered in a rural forest location alongside security personnel shortly after they regained their freedom.

According to available information, the victims were abducted by suspected kidnappers before security operatives launched an intensive search-and-rescue mission. The operation, carried out through coordinated efforts by security agencies, led to the safe recovery of the pupils and their teachers.

The rescued victims have since been reunited with security officials and are expected to undergo medical examinations and trauma counselling before being reunited with their families.

Authorities have not yet disclosed whether any arrests were made during the operation or if a ransom was paid. However, investigations are ongoing to identify and apprehend those responsible for the abduction.

The successful rescue has been welcomed by residents of the area, who commended the swift response of the security agencies while calling for increased security around schools and rural communities to prevent similar incidents.

The incident once again highlights the persistent security challenges facing some parts of the country, particularly the threat of school-related kidnappings, which have raised concerns among parents, educators, and community leaders.

Security agencies have assured the public that efforts are continuing to track down the perpetrators and strengthen measures aimed at protecting schools and vulnerable communities across the country.

Further official details are expected as the authorities provide updates on the operation.

Continue Reading

news

BREAKING: Tinubu Picks Shettima Again, APC Completes INEC Nomination Process

Published

on

…party predicts landslide victory at the poll
The ruling All Progressives Congress (APC) on Friday formalised its presidential ticket for the 2027 general election, as President Bola Ahmed Tinubu officially retained Vice President Kashim Shettima as his running mate. ExecutiveBranch

Displaying absolute confidence ahead of the polls, party leadership declared that its victory is already “assured,” citing a rock-solid foundation of over 12 million registered members and the visible milestones of the current administration.

The duly completed nomination forms for both President Tinubu and Vice President Shettima were submitted to the APC National Chairman, Prof. Nentawe Yilwatda, at a colourful ceremony at the Ladi Kwaki International Conference Centre of Abuja Continental Hotel for onward transmission to the Independent National Electoral Commission (INEC) portal.

Alhaji Ibrahim Masari, the Special Adviser to the President on Political Matters, submitted the documents on the President’s behalf.

The high-profile ceremony drew heavyweights from across the party, including members of the Progressive Governors’ Forum (PGF) led by Imo State Governor Hope Uzodimma, representatives from the National Assembly, the Federal Executive Council (FEC), and state party chairmen.

Welcoming dignitaries to the brief but solemn ceremony, APC National Organising Secretary Sulaiman Muhammad Argungu noted that the event was the natural climax of a highly transparent internal process.

“The presidential flag bearer emerged through a thoroughly transparent primary process,” Argungu said, while praising President Tinubu’s “positive strides” and urging party faithful to remain united, prayerful, and steadfast.

The ceremony culminated in the presentation of the completed nomination forms for the President and his running mate by the Presidential Adviser, Masari, who was accompanied by all the governors in attendance, members of the National Assembly and the Federal Executive Council (FEC).

Reinforcing the governors’ total commitment to the ticket, PGF Chairman Governor Hope Uzodimma stated that the transparent nature of the primaries had made marketing the candidates seamless.

“We are delighted that this event is coming after a well-organised and thoroughly supervised primary process,” Uzodimma said. “We reiterate our commitment to continue supporting President Tinubu and the party.” ExecutiveBranch

Uzodimma described the APC as a beacon of internal democracy and inclusiveness, promising that the governors would spearhead a total clean sweep at the polls.

“We will continue to support him in the larger interest of Nigerians and to take the country to greater heights. Together, we are going to deliver victory for President Tinubu and ensure the party wins all elective positions, including the National and State Assemblies,” Uzodimma added.

Receiving the nomination forms, APC National Chairman Prof. Nentawe Yilwatda stated that the revalidation of the Tinubu-Shettima ticket represents the authentic heartbeat of the party’s grassroots.

“Today is a reflection of the wishes of over 12 million members of our party who supported the President’s candidature,” Yilwatda remarked. “We are proud of the support already in the kitty of President Tinubu, and we are convinced that many more Nigerians will vote for him.” ExecutiveBranch

Yilwatda pointed to key initiatives such as the student loan scheme—which he noted has already benefited over 1.5 million students—alongside targeted agricultural interventions and nationwide infrastructure projects as verifiable proof of performance.

He urged party members to return to their local communities armed with facts rather than rhetoric to dismantle opposition narratives.

“While others are busy spreading propaganda, let us counter them with facts. Nigerians have seen governance that touches lives across the six geopolitical zones,” Yilwatda stated. GeographicReference

The National Chairman emphasised that the APC holds a distinct institutional advantage over its rivals, being the only political platform in the country backed by a fully digitalised and verified membership database.

“We already have about 12 million verified members. We are going round the country to mobilise support for the President. I am also confident that our governors will compete among themselves to deliver the highest number of votes,” Yilwatda said.

Sending a clear message to the President, the APC Chairman told Masari: “Go and tell the leader of our party (President Tinubu) that our members and Nigerians will vote for him to continue the excellent work he is doing. As a party, we are proud to be presenting the best candidate. There is no shaking at all. Come 2027, our victory is assured.”

Asked on the sidelines of the ceremony to confirm the party’s presidential running mate, as no name was mentioned throughout the ceremony, APC National Publicity Secretary Felix Morka said, “The presidential candidate of the party is President Bola Ahmed Tinubu GCFR, the Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, and our Vice Presidential candidate is Senator Kashim Shetima.” ExecutiveBranch

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved