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“Nigeria’s Rising Debt is a Threat to Future Generations” – Obasanjo Warns

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Former President Olusegun Obasanjo has raised concerns over Nigeria’s escalating debt, warning that it poses a serious challenge for both current and future generations.

He shared his thoughts during a recent Zoom discussion titled Boiling Point Arena, where he reflected on the country’s economic path and leadership choices.

Nigeria’s debt has experienced a significant increase, climbing by a staggering N12.6 trillion within just three months.

As of the end of the second quarter of 2024, the nation’s total debt stood at N134.3 trillion (about $91.3 billion), marking a sharp 10.35% rise from the N121.7 trillion recorded at the close of the first quarter.

Obasanjo, who was instrumental in securing debt relief for Nigeria during his tenure from 1999 to 2007, expressed deep concern over the current state of affairs.

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He noted that his administration’s efforts to clear the country’s debt burden have been undermined by the recent trend of heavy borrowing.

“Yes, I was able to secure debt forgiveness for the nation before I left office, but now we’re facing a debt problem that will affect not just this generation, but the next as well,” he stated.


 

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Joe Igbokwe Accuses Nigerians of Causing Their Own Hardship

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APC chieftain Joe Igbokwe has pointed fingers at Nigerian traders for the continued surge in food prices across the country. In a Facebook post on Saturday, the outspoken supporter of President Bola Tinubu’s administration accused traders of being too greedy to reduce their prices.

He added that even as statistics suggest that the cost of food is starting to drop, traders have refused to comply. Furthermore, he expressed frustration, saying the refusal to lower prices shows a deeper problem of selfishness among citizens. According to him, Nigerians are their own worst enemies, driven by greed and a habit of taking more than they need.


 

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President Tinubu to Attend Pope Leo XIV’s Inauguration in Rome

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President Bola Ahmed Tinubu is set to travel to Rome this Saturday to attend the inauguration of Pope Leo XIV, the new leader of the Roman Catholic Church. The invitation came directly from Pope Leo XIV, who emphasized the importance of the president’s presence during this significant moment for the Church and a world facing many challenges.

Pope Leo XIV, formerly Cardinal Robert Francis Prevost, will be officially installed as the 267th Bishop of Rome on Sunday, May 18, at St. Peter’s Square in the Vatican.

President Tinubu will be accompanied by key Catholic figures, including the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, Archbishop Lucius Ugorji of Owerri, Archbishop Ignatius Kaigama of Abuja, Archbishop Alfred Martins of Lagos, and Bishop Mathew Hassan Kukah of Sokoto.

Notably, Pope Leo XIV has a special connection to Nigeria, having worked at the Apostolic Nunciature in Lagos during the 1980s. After the ceremony, President Tinubu is expected to return to Abuja on Tuesday, May 20.


 

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Makinde Tells Nigerians to Protect Their Culture and Not Let It Disappear

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Oyo State Governor, Seyi Makinde, has urged Nigerians to preserve their culture and ensure it doesn’t fade away with time. Speaking through his deputy, Barrister Adebayo Lawal, at the 2025 World Egungun Festival grand finale held in Ibadan, Makinde emphasized the importance of keeping traditions alive.

The event took place at Obafemi Awolowo Stadium in the Oke Ado area and was graced by top dignitaries including Chief Lekan Alabi, who represented the Otun Olubadan of Ibadanland, Oba Rashidi Ladoja, Osun State’s Commissioner for Culture and Tourism, Hon. Ojo Abiodun, Prince Adeola Adelakun of Oje Parapo Worldwide, and Oyo State’s own Commissioner for Culture and Tourism, Dr. Wasiu Olatunbosun.

Makinde stressed that culture and tourism are key focus areas for his administration, and his government is committed to supporting efforts that will keep local traditions thriving. He added that by investing in cultural events and heritage, the state can boost its economy through tourism and increase revenue. He said, “We must not let our culture die. I’m glad to see young people taking part in this celebration, not just the elders.”


 

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