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Tinubu seeks the Senate’s approval for $21.5bn loan, N757.9bn pension bond

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National Assembly complex

By George Mgbeleke

President Bola Tinubu has sought the approval of the Senate to borrow USD 21,543,647,912, EUR 2,193,856,324.54, and 15 billion Japanese Yen, in addition to a grant of 65 million EUR, to boost critical sectors of the economy in the 2025 budget.

Tinubu also sought the approval of the Red Chamber for the issuance of federal government bonds in the domestic market to settle accrued pension liabilities under the Contributory Pension Scheme, CPS amounting to N757,983,246,572

He explained n a letter read by the Senate President, Senator Godswill Akpabio on the floor of the Red Chamber on Tuesday that the the borrowing plan covers all sectors with specific emphasis on infrastructure, agriculture, health, education, water supply, growth, security, and employment generation, as well as financial and monetary reforms, among others.

According to him, the external loans were captured under the 2025-2026 federal government borrowing plan, adding that the proposed borrowing is crucial in light of the removal of fuel subsidy and its economic implications.

“In light of the significant infrastructure deficit in the country and the paucity of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall,” the President stated.

Tinubu further informed that the proposed funds would be channelled into critical infrastructure projects, especially in the areas of railways, healthcare, and nationwide development programmes across all 36 states and the Federal Capital Territory.

He added that the federal government also planned to create employment, promote skill acquisition, foster entrepreneurship, reduce poverty, and enhance food security, as well as to improve the livelihoods of Nigerians with the funds.

On the pension bond, the President lamented that the government had been unable to comply with some statutory pension obligations due to revenue challenges, leading to a buildup of arrears and increasing hardship for retirees.

“The Senate is invited to note that the federal government has not been compliant with the implementation of the above provisions of the Pension Reform Act, PRA 2014 over the years due to revenue challenges leading to accumulation of pension arrears with the attendant ICU retirees,” he stated.

He added that the proposal to issue bonds for the settlement of the liabilities had received approval from the Federal Executive Council in its meeting of February 4, 2025.

Tinubu argued that settling the pension arrears will improve retirees’ welfare, boost confidence in the pension system, and inject liquidity into the economy.

“It will enable the Federal Government of Nigeria to meet obligations under the CPS and restore confidence in the pension industry.

“It will also ensure positive welfare even for the retirees, as this will enable them to meet their basic needs… improve health and avoid untimely death,” the President stressed.

The Senate President referred Tinubu’s request to the Committee on Local and Foreign Debts for further legislation and reports back in two weeks.

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2nd Phase Leaders Complete Training on Leadership and Mediation – Gen. Elaye Lauds Otuaro’s Visionary Drive

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Administrator of the PAP, High Chief Dr. Dennis Brutu Otuaro, flanked by trainees at the end of leadership training and their masters displayed in exposures

By David Owei,Bayelsa

The 2nd Phase Camp Leaders’ training on “Leadership, Alternative Dispute Resolution and Mediation”, sponsored by the Presidential Amnesty Programme (PAP), has successfully come to a close Friday on a commendable note.

The intensive leadership-building initiative, held under the distinguished leadership of the Administrator of the PAP, High Chief Dr. Dennis Brutu Otuaro, aimed to equip leaders with practical skills in peacebuilding, mediation, and conflict resolution—critical tools for sustaining peace in the Niger Delta region.

Reacting to the successful completion of the programme, General Elaye ThankGod Dollar Slaboh, National Chairman of the Third Phase Presidential Amnesty Programme, alongside his national leadership, congratulated the participants for their commitment and active engagement throughout the training.

General Elaye commended Dr. Otuaro for his visionary leadership and strategic direction, which is rapidly changing the dynamics of the Presidential Amnesty Programme, shifting it towards human capital development and long-term peace.

He emphasized that such initiatives are essential for reinforcing grassroots leadership and consolidating the peace already being enjoyed in the region.

> “This training is not just a success for the 2nd Phase; it is a win for the entire Niger Delta. The wisdom of High Chief Otuaro in investing in leadership and conflict resolution will continue to bear fruit,” General Elaye stated.

 

The Presidential Amnesty Programme continues to champion developmental engagements that bridge gaps, empower beneficiaries, and promote sustainable peace in the Niger Delta.

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Regional Development Minister,Engr Momoh bags Awards

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Minister of Regional Development, EngrAbubakar Momoh (right) receiving a n award from Executive Secretary/ National Coordinator of the Institute, Dr. Musa Aliu Yakub Okhumeode

 

Regional Development Minister,Engr Momoh bags Awards

By Our Correspondent

Minister of Regional Development, Engineer Abubakar Momoh has been conferred with two Awards by the Institute of Professional Economists and Management Policy (IPEPM) tagged ‘ Excellent Leadership Award and Professional Doctorate Fellowship Award”.

Receiving the Awards today in his office, Engr. Momoh, expressed profound gratitude for the recognition and reiterated that true governance is about leaving a lasting legacies.

He further said “My track record speaks for itself and is a testament to the awards I have received “.

He used the opportunity to commend the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu for his visionary leadership and resilience in ensuring the holistic development of the country.

According to him, the establishment of the Federal Ministry of Regional Development is a bold step to integrate all Regional Development Commissions under one coordinated umbrella.

The Ministér said that the recognition bestowed upon him further reinforces his commitment to service and to impact mankind.

Earlier, the leader of the delegation who is the Executive Secretary/ National Coordinator of the Institute, Dr. Musa Aliu Yakub Okhumeode, said the courtesy visit was to present the prestigious Awards in recognition of his exceptional leadership and contribution to regional and national Development, as well as to seek partnership in strategic training programmes.

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Minna Lack of Sensitisation responsible for transporting small arms and light weapons to criminal gangs-Enanch and offi officials

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The Zonal Director, North Central, National Centre for Small Arms and Light Weapons Mr Abdul Adamu,NUJ council chairmen and otticials and others omrade Abu Nmodu

By Uthman-Baba Naseer,Minna

The Zonal Director, North Central, National Centre for Small Arms and Light Weapons Mr Abdul Adamu Enenche made the submission during a visit to the Niger State Council of the Nigeria Union of Journalists NUJ in Minna.

Of recent, many Nigerians have been apprehended with cache of arms and ammunitions meant for delivery to bandits, kidnappers and other criminals.

This has raised questions as to why some individuals will willingly allow themselves to be used as couriers of illegal weapons to criminals.

The Zonal Director, National Centre for the Control of Small Arms and Light Weapons, Mr Abdul Adamu Enenche said lack sensitisation on dangers of such acts and intelligence from people are contributing to the spread of arms.

He observed that porous or poorly managed borders and activities of local fabricators who manufacture guns are other sources of weapons proliferation that the Centre is trying to address.

Mr Adamu Enenche who solicited the support of members of the NUJ to enable the Centre to achieve its objectives, promised to synergize with other sister agencies.

The Chairman, Nigeria Union of Journalists NUJ, Niger State Council, Comrade Abu Nmodu expressed optimism that there would be great reduction of criminal activities once the issue of small arms are resolved.

Comrade Nmodu urged the Centre to be open for collaboration with the Union especially in the area of training members on it’s activities.

Across section of members of the Union who spoke on the occasion stressed the need for the National Centre for the Control of Small Arms and Light Weapons to deploy officers of the Centre to the grassroots for easy intelligence gathering.

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