Business & Economy
HURIWA tasks Tinubu on transparency with foreign debts

By George Mgbeleke
Prominent pro-democracy and civil rights advocacy group HUMAN RIGHTS WRITERS ASSOCIATION OF NIGERIA (HURIWA) has called for greater transparency and accountability by the President of Nigeria on the management of the National economy particularly with the uncontrollable borrowing by the current government.
The Rights group said the President had told the citizens that his administration had overshot her revenue target for the year but the same federal government circulated a public notice of the decision of the government to go cap in hand to borrow from external creditors. HURIWA therefore wonders what justification the government would advance for the reckless borrowing if we agree that the revenue target for the year 2025 has already been surpassed.
HIRIWA recalled that exactly on 2nd September 2025, the president, Bola Tinubu in Abuja declared that Nigeria had met its revenue target for 2025 ahead of schedule and would no longer rely on borrowing to fund its budget.
Addressing stakeholders of The Buhari Organisation who visited him at the Presidential Villa in Abuja, Tinubu said his administration’s non-oil revenue drive had yielded enough to meet this year’s projections by August, reducing Nigeria’s dependence on external loans
“Today I can stand here before you to brag: Nigeria is not borrowing. We have met our revenue target for the year and we met it in August,” Tinubu told the delegation, which included former Nasarawa State Governor, Sen. Tanko Al-Makura, and other chieftains of the ruling All Progressives Congress.
Tinubu also said the exchange rate had stabilised after initial turbulence, noting that the naira had appreciated from over N1,900/$ to about N1,450/$ since he unified the foreign exchange windows last year.
HURIWA therefore expressed shock that on the 4th of September 2025, the Federal Government announced that it plans to increase its borrowing despite a significant 40.5 per cent surge in revenue for the first eight months of 2025. This boost in revenue has largely been driven by substantial gains in non-oil revenue collections, as confirmed in a press statement on Wednesday by Special Adviser to the President on Information and Strategy, Bayo Onanuga. HURIWA however accuses the federal government of deception and playing a needless mind game with the citizens.
Based on the figures released by the Presidency, Nigeria’s fiscal performance from January to August 2025 saw total collections reach a record N20.59tn, surpassing the N14.6tn collected during the same period in 2024. It was noted that non-oil revenues now account for 75 per cent of the total collections.
The statement read, “From January to August 2025, total collections reached N20.59tn, a 40.5 per cent increase from N14.6tn recorded in 2024. This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target.”
However, despite these positive developments, Nigeria still faces substantial funding gaps in crucial sectors such as infrastructure, with low capital spending. Local contractors under the All Indigenous Contractors Association of Nigeria, on Wednesday, staged a protest at the Headquarters of the Ministry of Finance in Abuja, to demand payment for capital projects executed in 2024, amounting to about N4tn.
The Rights group said in a media statement by the National Coordinator Comrade Emmanuel Nnadozie Onwubiko that the contradiction in the direction of the current government’s foreign borrowing pattern, has demonstrated a yawning gap in such a way that it is impracticable for the administration to justify any claim of complying with the time -tested and time -honoured principles of good governance which are transparency and accountability.
HURIWA which lamented that the current government has dragged Nigeria into heavy indebtedness also cautioned that these debts are crippling the economy going by the fact that
Nigeria’s debt stock is projected to reach N187.79 trillion this year just as our country grapples with a rising borrowing cost, naira depreciation and aggressive government borrowing, it has been projected.
This is according to a recent report by Cardinalstone, an investment and research firm which revealed that the country’s debt will reach N153.04 trillion by year-end 2024.
This accumulation in debt profile, according to the report, is fueled by the issuance of a dollar-denominated domestic bond ($900.00 billion), regular borrowings through Nigeria Treasury Bills (NTBs) and bonds, and the country’s recent return to the Eurobond market to raise $2.20 billion.
“We estimate government debt to reach N187.79 trillion in 2025. The sharp rise in government debt has heightened concerns about its sustainability,” the analysts said in their report titled ‘Pressure to Plateau’.
Nigeria’s debt has surged significantly in recent quarters, climbing from N49.85 trillion before the 2023 general elections to N134.30 trillion by the end of the first half of 2024.
In a media statement by the National Coordinator Comrade Emmanuel Nnadozie Onwubiko, HURIWA expressed sadness that the contradiction inherent in the manner the federal government handles the external borrowing, has made it impossible for citizens to even know when the government is telling the truth or not. “How can you say in the morning that you have overshot the revenue target for the year but in the evening, you announced that you will be borrowing excessively from external borrowers? This is a fallacy of the undistributed middle. The citizens want our government to be very transparent and accountable and to stop playing on the collective psyche of the citizenry. Why should the federal government play mind games with the citizens?”
Business & Economy
Bayelsa Solicits Cooperation Of Business Community in Fight Against Fake Products …. Says Gas Turbines Will Reduce Cost Of Doing Business in the State.

By David Owei, Bayelsa
The Bayelsa State Government has called on the business community in the state to support its efforts at fighting the proliferation of fake and adulterated products that are being distributed and sold to consumers within and outside the state.
The Deputy Governor, Senator Lawrence Ewhrudjakpo, made the call at the weekend when the Bayelsa Mega Entrepreneurs Forum paid him a courtesy visit in Government House, Yenagoa.
The Deputy Governor, who described the mega entrepreneurs as the backbone of the economy of the State, however, noted that they have a critical role to play to checkmate the marketing and distribution of fake and expired goods and products which portend danger to the populace.
While encouraging the entrepreneurs to always pay their taxes to government as required by law, Senator Ewhrudjakpo, assured that the concerns raised by the group, especially the issue of multiple taxation, would be appropriately addressed.
He informed that government had prioritized the twin issues of security and power as key drivers of business and economic development, hence it had invested heavily in the security architecture of the State.
Describing power generation as the major component of the cost of doing business in the country, he further assured the Bayelsa business community that the State Government was working assiduously to meet up the December deadline for the full operation of its new gas turbine plant to solve the problem of epileptic electricity supply.
The Bayelsa number two Man equally called on the big entrepreneurs to extend their various businesses to the rural areas to stimulate a balanced economic growth in every part of the state, and not just in the capital city alone.
On the forthcoming Bayelsa Mega Entrepreneurship Summit, he said government was on top of it and would leave no stone unturned to make it a huge success.
His words: ” It is good to see that you have come together to form a group. Your coming together will do a lot of good for our state. You are a pillar to the economy of Bayelsa State.
“We believe that every good government should create the enabling environment for entrepreneurs to thrive. That is why the ASSURED Prosperity Government is taking the most important to the least. We have improved our security architecture to secure lives and property because without security, nobody can comfortably do business.
“After security, the next thing is power for businesses to thrive. Power generation to sustain business is highly capital-intensive. But very soon, there will be relief as government is working round the clock on the December deadline.
” As a government, we want to encourage you to moderate your businesses, and pay taxes as at and when due. There is also the issue of fake and adulterated products in the State. We need your support and cooperation in the fight to checkmate the proliferation of fake products being sold in the state.”
Earlier in a remark, the Technical Adviser to the Governor on Entrepreneurship Development, Mrs. Charity Kens-Godwin, explained that the visit was intended to create an opportunity for the Bayelsa Mega Entrepreneurs to interface with government.
While reminding the Deputy Governor of the Bayelsa Mega Entrepreneurship Summit that is due in a week’s time, Mrs Kens- Godwin applauded him for his good disposition towards the business community, especially on the issue of multiple taxation.
Also, the CEO of Ayalla Hotels, Chief Ayalla Robert Enogha, thanked the state government for taking the bull by the horn through the acquisition of the gas turbines to stabilize power supply in the state, noting that the cost of diesel consumes a huge chunk of profits from businesses operating in the state.
Chief Ayalla, who extolled government for creating the platform through the office of the Technical Adviser on Entrepreneurship Development, however, pleaded with government to look into the issue of multiple taxation as well as high levies being imposed on truck drivers bringing goods into the state, which translates to higher prices and cost of living.
Business & Economy
Vehicle Manufacturers, Innoson, To Build CNG Plant In Bayelsa

By David Owei,Bayelsa
Nigerian vehicle manufacturers, Innoson Vehicles Manufcturing (IVM) Limited, has disclosed plans to establish a Compressed Natural Gas (CNG) assembly plant in Bayelsa State.
The Managing Director and Chief Executive Officer, Chief Innocent Chukwuma, stated this on Monday when he visited Governor Douye Diri in Government House, Yenagoa.
The Innoson CEO said the investment would boost the state’s transportation sector as well as provide training and create jobs.
He stated that the initiative will also promote cleaner and greener environment and enhance the country’s capacity to meet its renewable energy target by 2030.
In his presentation, the company’s Corporate Communications Manager, Mr. Kamsi Ejiofor, explained that the objective is to introduce modern CNG buses, ambulances and vehicles that would enhance mobility and public efficiency in the state.
According to him, the plant will generate 1000 jobs and thousands of direct opportunities in assembly, maintenance, logistics and local manufacturing as well as boosting Bayelsa’s economy by enhancing its industrial base.
Ejiofor said: “The usage of CNG vehicles will save cost from fuel and maintenance, improve health, cleaner air and lead to innovation in Bayelsa, making the state a clean energy and tech pioneer in Nigeria.”
Responding, Bayelsa State Governor, Senator Douye Diri, commended Chief Chukwuma for the decision to site the the CNG conversion plant in the state, noting that the investment would help grow Bayelsa’s industrial base.
While expressing his administration’s commitment to collaborate with the vehicle firm, Senator Diri described the initiative as a welcome development towards moving the state’s economy from consuming to production.
The governor, who said the investment was timely, noted that procurement of CNG vehicles was in the state government’s budget projection for 2026 and expressed delight over the economic impact of such investment, particularly in the area of job opportunities.
The state’s helmsman noted that his administration was putting in place the necessary infrastructure to support investments in Bayelsa and urged other investors to emulate Innoson to invest in the state.
“It is a welcome development for CNG vehicles plant to be sited in Bayelsa. We are ready to partner with you.
“One area that l am interested in is the CNG aspect. The world is moving towards renewal energy because of environmental pollution.
“My administration was considering purchasing CNG buses to run our upland transport system. Your coming is timely because it is part of our projections for 2026.
“I assure you that we are putting in place the right environment to enable investments thrive in terms of peace and security, infrastructure and our independent power supply, which will ensure uninterrupted electricity.”
Diri also announced an implementation committee to interface with the company.
The committee has Secretary to the State Government, Prof. Nimibofa Ayawei as chairman while other members are the Commissioner for Trade and Investment, Jones Ebieri, his Information and Finance counterparts, Mrs Ebiuwou Koku-Obiyai and Maxwell Ebibai respectively.
Others are the Commissioner for Justice and Attorney-General, Biriyai Dambo (SAN),
Preye Broderick (Transport), Mazi Johnson Onuma (General Duties), as well as the Special Adviser on Investment, Owanari Harry, and the
Technical Adviser on Entrepreneurship, Charity Kens Godwin.
Business & Economy
Anua Offot Market builds eight new public convenience, Village Head, Market Chairman lauds NYSC, NEMA on market sanitation

By Emmanuel Ikpe
The village head of Anua Offot, Uyo Local Government Area, Chief Linus Inyang had commended effort of the Anua Offot Market Management Committee for working tirelessly to provide convenience to market women and visitors to the market alike.
Chief Linus Inyang gave the commendation while cutting the tape to open the newly built public convenience for use at the weekend, while expressing confidence in the market management team for doing everything possible to uplift the standard of living of people in the market, expressed the determination to continue to attend to the plight of those selling at the market square.
The Village Head has also commended the Community Development Service Team of the Nigeria Youth Service Corp, NYSC for choosing Anua Offot Market to carryout their practical assignment by cleaning the market, which he described it as lovely.
Speaking, the President of Environmental Protection Service Group of the NYSC, Afasare Precious, said they were at the market to sensitized the traders on waste management and control in order to keep health of the market environment high and this has been demonstrated with the general cleaning of the market square.
The President of Disaster Management Team of the NYSC, Akinwumi Ayomide said they came under the supervision of National Emergency Management Agency NEMA, and the Environmental Sanitation CDS Group, to sensitized the market women on proper waste management and flood control, and was pleased that the women hearken to the exercise.
“We came to tell the market women that if the don’t disposed their waste properly, it would lead to blockage of drainage and flooding and we don’t wished anyone to experience flood no matter how little it maybe”, she stated.
Meanwhile, the chairman of the Anua Offot Market Management Committee, Mr Ransom Unung has appreciated the NYSC, NEMA and her team for choosing the market as their place of practical assignment and for NEMA for the orientation given to the market women on waste management and flood control while describing the exercise as very important and a necessity, he laud the market women for keying into the development. Unung appreciated the village head for giving him opportunity to served in that capacity, to interpret his dream and vision to the market women, promised to double up his efforts in his services to his people and his government.
Speaking earlier, Yellow-Duke Offiong, a Disaster Rok Officer of NEMA reiterated the agency continuous commitment to work with the NYSC and relevant government agencies to carryout awareness campaign on proper waste management and flood control and it effects on environment and human live.
-
Business & Economy2 months ago
PC-NCG Issues Disclaimer on Purported Nigerian Coast Guard National Orientation Exercise In Anambra State
-
Entertainment1 year ago
Jubilation galore as Parishioners of CKC Kurudu celebrate their cultural heritage ….FG should exploit our Cultural heritage to unite Nigerians-Rev Fr Dim
-
Law & Crime4 months ago
ICPC pledges to collaborate with FIDA to end Sex for Marks in tertiary institutions
-
General News1 year ago
Celebration galore as UDA Successfully Elected New Exco ……I will digitalize processes that will raise UDA to greater height -Comr. Okejiri
-
General News1 year ago
Reps hold public hearing on FMC Ugwuaji Awkunanaw
-
Law & Crime3 months ago
Legal practitioner raises alarm over threat to his life by CSP Muhammed Abdulkareem
-
General News1 year ago
Kugbo Hill Tragedy: Trailer Crushes Car, Kills Four and Injures Several Others in Abuja
-
Uncategorized9 months ago
Benue govt drags NDIC to Federal High Court over illegal sell of shares …Demands N2.6billion damages