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Nigeria’s Debt Hits N149.39 Trillion
Nigeria’s total public debt has increased to N149.39 trillion as of March 31, 2025, according to fresh figures from the Debt Management Office (DMO).
This means the country’s debt grew by N27.72 trillion or 22.8% compared to N121.67 trillion recorded in the same period last year (March 2024).
The latest data also shows a quarterly increase. Between December 2024 and March 2025, Nigeria’s debt rose by N4.72 trillion or 3.3%.
The steady rise in debt is due to new borrowings and the weaker value of the naira, which has made Nigeria’s external debts (debts owed in foreign currencies) more expensive in naira terms.
As of March 31, 2025, Nigeria’s external debt stood at N70.63 trillion (about $45.98 billion). This was up from N56.02 trillion (about $42.12 billion) in March 2024.
That’s a jump of N14.61 trillion or 26.1% in one year. On a quarterly basis, external debt rose slightly by N344 billion or 0.5%, compared to December 2024.
While Nigeria’s foreign debt in dollars increased by around $3.86 billion year-on-year, the much bigger rise in naira terms shows how badly the exchange rate drop has affected the country’s debt figures.
Nigeria’s domestic debt (money borrowed within the country) also went up. By March 2025, it reached N78.76 trillion (about $51.26 billion), compared to N65.65 trillion in March 2024. This shows a rise of N13.11 trillion or 20% over the year.
From December 2024 to March 2025 alone, domestic debt increased by N4.38 trillion or 5.9%.
The Federal Government held the bulk of this debt, with N74.89 trillion, while the 36 states and the Federal Capital Territory (FCT) had a combined debt of N3.87 trillion.
Meanwhile, state-level domestic debt went down slightly from N3.97 trillion in December 2024 and N4.07 trillion in March 2024.
Overall, by the end of March 2025, Nigeria’s debt was almost evenly split: 52.7% domestic debt and 47.3% external debt.
Politicsnigeria.com
News
Accord Party Rejects Gov Adeleke, Adopts APC Candidate For Osun Elections
The factional National Chairman of the Accord Party, Prof. Chris Imumolen, has reaffirmed the party’s support for President Bola Tinubu’s administration and endorsed his re-election bid, while insisting that the decision does not amount to a merger with the All Progressives Congress (APC).
Imumolen also announced that Accord had resolved to support the APC governorship candidate in Osun State, Asiwaju Munirudeen Bola Oyebamiji, ahead of the forthcoming governorship election.
The Accord chairman said the party’s support for Tinubu was based on its assessment of the administration’s economic reforms and efforts towards national development.
“Our support for President Bola Ahmed Tinubu is based on our conviction that Nigeria’s progress requires continuity in policies that strengthen our economy, deepen reforms, and promote national stability.
“We have therefore endorsed his re-election because we believe it is in the best interest of our country,” Imumolen said.
The party chairman, however, cautioned against interpreting the endorsement as evidence that Accord had surrendered its political identity or merged with another party.
“Let me state this clearly: the party’s endorsement of President Tinubu does not amount to the dissolution of the Accord Party or its merger with any political platform.
“Accord remains an independent political party with its own constitution, leadership, ideology, and vision for Nigeria,” he said.
Imumolen maintained that the party would continue to take independent positions on political and governance issues despite its support for Tinubu. On the Osun State governorship election, the party said it had taken a strategic decision to adopt Oyebamiji, the APC candidate. Imumolen said the decision followed consultations and an assessment of the political situation in the state.
“After careful consultations and a thorough assessment of the political realities in Osun State, the Accord Party has resolved to adopt and support the APC governorship candidate, Asiwaju Munirudeen Bola Oyebamiji.
“This strategic decision is driven solely by our commitment to ensuring competent leadership and sustainable development for the people of Osun State,” he stated.
Accord urged members of the public, the media and political stakeholders to distinguish between its endorsement of Tinubu at the national level and its alliance with the APC candidate in Osun State. The party said suggestions that it had ceased to operate independently were inaccurate and misleading.
It added that it remained committed to democratic principles, national unity and issue-based politics, stressing that its political decisions would continue to be guided by what it considered the best interests of Nigerians.
Naija News reports that the Accord Party faction loyal to Governor Ademola Adeleke had earlier endorsed President Tinubu for the 2027 presidential election.
The party chairman, however, cautioned against interpreting the endorsement as evidence that Accord had surrendered its political identity or merged with another party.
“Let me state this clearly: the party’s endorsement of President Tinubu does not amount to the dissolution of the Accord Party or its merger with any political platform.
“Accord remains an independent political party with its own constitution, leadership, ideology, and vision for Nigeria,” he said.
Imumolen maintained that the party would continue to take independent positions on political and governance issues despite its support for Tinubu. On the Osun State governorship election, the party said it had taken a strategic decision to adopt Oyebamiji, the APC candidate.
Imumolen said the decision followed consultations and an assessment of the political situation in the state.
After careful consultations and a thorough assessment of the political realities in Osun State, the Accord Party has resolved to adopt and support the APC governorship candidate, Asiwaju Munirudeen Bola Oyebamiji.
“This strategic decision is driven solely by our commitment to ensuring competent leadership and sustainable development for the people of Osun State,” he stated.
Accord urged members of the public, the media and political stakeholders to distinguish between its endorsement of Tinubu at the national level and its alliance with the APC candidate in Osun State.
The party said suggestions that it had ceased to operate independently were inaccurate and misleading.
It added that it remained committed to democratic principles, national unity and issue-based politics, stressing that its political decisions would continue to be guided by what it considered the best interests of Nigerians.
Daily voice reports that the Accord Party faction loyal to Governor Ademola Adeleke had earlier endorsed President Tinubu for the 2027 presidential election.
News
Accord Party, Adeleke Adopt Tinubu As 2027 Presidential Candidate
President Bola Tinubu has been adopted as the preferred presidential candidate for the 2027 election by Osun State Governor Ademola Adeleke and the national leadership of the Accord Party. The decision was reached during a meeting held on Saturday night in Osogbo, the Osun State capital.
The gathering brought together top officials of the party from across the country, including members of the National Working Committee and state chairmen.
According to a statement issued on Sunday by Adeleke’s re-election campaign spokesman, Pelumi Olajengbesi, discussions at the meeting focused on the future of the party, national development issues and preparations ahead of the forthcoming Osun governorship election.
Party leaders said their support for Tinubu was influenced by the need for continuity in ongoing infrastructure projects being executed by the Federal Government.
They stressed that major road projects across the country should be completed without interruption.
Among the projects highlighted were the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway.
The party leadership maintained that continuity would help ensure the successful delivery of the projects and their expected economic benefits.
The meeting also reviewed the political atmosphere ahead of the August governorship election in Osun State. Leaders of the party called for a peaceful electoral process and urged all stakeholders to avoid actions capable of undermining the credibility of the poll.
They warned against violence, intimidation of political opponents, electoral malpractice and the alleged use of security agencies to harass members of the party during the election period.
The party further appealed to the Independent National Electoral Commission, security agencies and other relevant institutions to ensure a level playing field for all contestants.
Several national officers attended the meeting. They included the National Chairman of the Accord Party, Maxwell Mgbudem; Deputy National Chairman, Maryam Sale; National Secretary, Ajaja Abiola Adebukola; National Treasurer, Abdulazeez Oyeniyi Salaudeen; National Organising Secretary, Ibe Thankgod; and National Publicity Secretary, Omorogbe Joseph.Political communication services
Also present were state chairmen and other senior party officials drawn from different parts of the country.
The endorsement marks another significant political development in the growing relationship between Adeleke and the Accord Party following the governor’s alignment with the platform ahead of the Osun governorship election.
Party leaders at the meeting expressed confidence in Adeleke’s chances in the forthcoming poll and pledged to mobilise support structures across the state to secure victory.
They also reaffirmed their commitment to strengthening the party nationwide while positioning it for future political contests. Moreover, Governor Ademola Adeleke publicly reaffirmed his support for President Bola Tinubu’s second-term ambition on several occasions. He described the move as being in the interest of Osun State and the South-West region. Leadership development programs
Speaking on May this year, during an inspection of the ongoing reconstruction work on the Ibadan-Ile Ife-Ilesa Expressway, Adeleke said his support for the President went beyond partisan politics.
The governor described Tinubu as “our own son, father and leader,” insisting that he needed no persuasion to back the President’s re-election bid.
“I am the governor of the ancestral birthplace of Mr President. How can I have my own in the saddle and think twice before embracing him? I need no persuasion to act as I have declared repeatedly our endorsement of Mr President,” Adeleke said.
He added that the endorsement was a “moral and development-driven action” aimed at advancing the interests of Osun State and the Yoruba people.
The governor maintained that supporting Tinubu would help sustain ongoing federal projects and strengthen cooperation between Osun State and the Federal Government.
The position was again repeated on June, when Adeleke formally flagged off his re-election campaign in Osogbo.
Addressing supporters at the event, he declared: “As we seek your votes on August 15, we also restate our endorsement of our son, father and leader, President Bola Ahmed Tinubu, for re-election in 2027. Our support for Mr President is unshaken and total.”
News
BREAKING: Tinubu Gives New Top Appointment
President Bola Ahmed Tinubu has appointed Wasiu Olanrewaju-Smart as Special Adviser to the President on National Assembly Matters, House of Representatives.
Naija News reports that the appointment takes immediate effect, according to a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
Olanrewaju-Smart succeeds Ibrahim Olanrewaju, who resigned from the position to contest an elective office in his home state.
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“This appointment is with immediate effect,” Onanuga said in the statement titled, “President Tinubu Appoints Wasiu Olanrewaju-Smart as Special Adviser on National Assembly Matters – House of Representatives.”
The Presidency said the 40-year-old appointee brings extensive experience in legislative affairs and public policy to the position.
According to the statement, Olanrewaju-Smart holds a doctorate in Educational Management from Lead City University and a Master’s degree in Public Administration from Harvard University.
He was an Edward Mason Fellow in Public Policy at the Harvard Kennedy School and also holds a professional diploma in Public Relations from the London School of Public Relations.
The Presidency added that he was a LEAPS Fellow at the Massachusetts Institute of Technology and a Policy Fellow at Quantum Alliance AI in the United States, where his work focused on artificial intelligence and civic technology.
Olanrewaju-Smart has held several positions within the National Assembly over the years.
The statement read, “His National Assembly career spans Research and Media Assistant to the Minority/Majority Leader, House of Representatives (7th–8th Assemblies), to Special Adviser, Deputy Chief of Staff, and ultimately the Chief of Staff to the Speaker of the House of Representatives in the 9th and 10th Assemblies.”
The Presidency said his career trajectory provided him with experience in legislative research, administration and relations between lawmakers and the executive.
Olanrewaju-Smart joined the Presidency in October 2023 as Senior Special Assistant to the President on Intergovernmental Affairs.
He remained in the position until his latest appointment.
“Olanrewaju-Smart later joined the Presidency in October 2023 as Senior Special Assistant to the President on Intergovernmental Affairs, a position he held until this new appointment,” the statement said.
The Presidency added that his public policy research portfolio included contributions to several pieces of legislation.
“His public policy research portfolio includes work on several landmark legislations, such as the Interest-Free Student Loan Act, among others,” it added.
The Presidency said Tinubu was confident that Olanrewaju-Smart’s experience and knowledge would help deepen relations between the executive and the House of Representatives.
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