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Tinubu seeks the Senate’s approval for $21.5bn loan, N757.9bn pension bond
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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Prosperity Cup 2026: Odi United Wins Kolokuma Opokuma LGA final … As LGA Finals’ Hostility Moves to Southern Ijaw
By David Owei,Bayelsa
Odi United have emerged champions of Kolokuma/Opokuma Local Government Area in Nigeria’s biggest grassroots football spectacle, the Bayelsa Governor’s Football Tournament, tagged the Prosperity Cup.
Odi United beat Mountain of the Lord Deliverance Ministry, MLDM FC 4-3 on penalties after a barren draw in regulation time in an encounter decided at the Kaiama pitch on Thursday, 16th April, 2026.
After a scoreless first stanza, the second half continued in a conservative approach from both teams but it was Odi United that should have taken the lead after a well delivered ball for Francis Idua but he blasted it wide.
Minutes after Odi United would have paid dearly for their earlier miss when MLDM FC had a good attempt to be in front but the goalkeeper of Odi produced a spectacular save to still keep his team in the game.
Champion, Odi United received ₦1,000,000 for their effort while runners-up MLDM FC got ₦500,000.
Chairman of Kolokuma/Opokuma Local Government Area, Hon. Tariye Isaac Lelei represented by the Head of Administration of the Council, Mr Ukiye Buruboyefe, lauded grassroots engagement of young people across the state.
He appreciated Governor Douye Diri for sustaining the tournament while also applauding the efforts of various stakeholders, particularly the organisers of the Prosperity Cup for their transformative initiative.
Assistant coach of Odi United, Seintonkumo Dift in his post-match reaction, expressed satisfaction with the victory, attributing it to hardwork and the determination of his lads.
MLDM FC Coach, Collins Robert, commended the efforts of his team despite the defeat, promising that his side would work on their lapses ahead of the tournament’s Round of 32.
Southern Ijaw LGA will be the next destination on Friday, 17th April, 2026 as enterprising NDU Oilers battle Onde United of Ondewari at 1.00p.m. at the NDU Sports field.
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Ijaw Traditional Rulers, elders suspend INC elections – Set up seven-man C’tte to resolve impasses
By David Owei,Bayelsa
The National Conference of Ijaw Traditional Rulers and Elders (N-CITRE-INC) has suspended the Ijaw National Congress (INC) till further notice.
The N-CITRE, after its meeting in Yenagoa deliberated extensively on all issues that led to the impasse in the INC elections, including petitions received.
The group, therefore, unanimously agreed to suspend the conduct of the INC elections and directed the electoral committee to stop all forms of electoral duties.
N-CITRE, which is empowered by the INC constitution to resolve all disputes, has also set up a seven-man Dispute Resolution Committee (DRC) to investigate all petitions.
The resolutions read in part ‘’ That the elections into the National Executive Council of the Ijaw National Congress (NE-INC), which were rescheduled for Monday, 13th April, 2026, by the National Electoral Committee, Ijaw National Congress(N-ELECO-INC), have been temporarily suspended until N-CITRE directs further after all pending disputes have been settled. N-CITRE-INC, as the appointing authority for N-ELECO-INC, also holds the constitutional power to resolve all disputes within the Congress
‘’ Consequently, N-ELECO-INC has been directed to stop performing any electoral functions until otherwise subsequently directed by N-CITRE.’’
The N-CITRE has directed the DRC to resolve the lingering dispute and probe all petitions, including the petitions against the n-ELECO- INC.
The DRC is headed by HRM, King Bubaraye Dakolo Agada IV, Ibenanaowei of Ekpetiama Kingdom, Chairman of Bayelsa Traditional Rulers Council, and Chairman of N-CITRE.
Other members are HRM, King Dr. Brig-Gen Bright Ateke Fiboinumama (Rtd), Chief Dr. Silas Eneyo (representing Eastern Zone), Dr. Loveth Ige (representing Central Zone), HRM, Pere Luke Kalanama III, HRM, Dr. Ekiomi Oweigbe John (Gbisa I) representing Western Zone, and Zonal Chairman of N-CITRE.
N-CITRE, which reminded all stakeholders of the principle of honesty that guides the Ijaws, therefore appealed for cooperation to achieve peace.
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Turaki-led PDP moves to form alliance with Mark ADC faction, ….Vows to overcome current challenges facing them
By Our Correspondent
In a bid to puncture alleged plot by the ruling All Progressives Congress (APC) to stop stop strong opposition parties from participating in 2027, the leadership of the Peoples Democratic Party (PDP) led by Barrister Kabiru Tanimu Turaki has opened high level discussions for mutual collaboration with the embattled faction of the African Democratic Congress (ADC) led by former Senate President, Senator David Mark.
The leadership of the PDP faction paid a solidarity visit to the leadership of the African Democratic Congress (ADC) in Abuja on Wednesday night to also commiserate with the party over the recent political development facing the ADC, describing the problem as an “attack targeted at Nigeria’s opposition parties.”
Comrade Ini Ememobong Essien,
National Publicity Secretary of the Peoples Democratic Party faction stated that during the visit, the PDP acknowledged the growing and shared threat confronting opposition political parties in the country.
The party noted that similar pressures have been experienced by the PDP in recent times and the delegation emphasised the need for vigilance and cooperation within the opposition block “in the face of actions capable of undermining democratic principles and political plurality.”
The high-level PDP delegation comprised Governor Oluwaseyi Abiodun Makinde of Oyo State, National Chairman Kabiru Tanimu Turaki, SAN, former Senate President, Sen. Adolphus Wabara, GCON and Prof. Jerry Gana.
Others in the entourage were Gen. Ishaya Bamayi, Rt. Hon. Fred Agbedi, Comrade Ini Ememobong, former Niger State Governor Babangida Aliyu, Amb. Taofeek Arapaja and Hajiya Inna Ciroma.
The delegation was received by top leaders of the ADC, including former Vice President Atiku Abubakar, Sen. David Mark, GCON, Alh. Kashim Imam, Sen. Rabiu Musa Kwankwaso, Sen. Aminu Waziri Tambuwal, Sen. Tunde Ogbeha, Mr. Peter Obi, Liyel Imoke, National Secretary Rauf Aregbesola, Chief Rotimi Amaechi and Bolaji Abdullahi.
The ADC leadership expressed appreciation to the PDP for the visit and reiterated the existential threat facing democracy in Nigeria, particularly through the targeted weakening of major opposition parties.
After a brief closed door meeting, both parties vowed to overcome current challenges facing them and affirmed the need for continued engagement in defence of democratic values and institutions in the country.
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