President Bola Tinubu Is Not Borrowing $21 Billion

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Dear Citizens of the Federal Republic of Nigeria,

Please let us respond to facts, not fake news or innuendo. Download the Federal Government’s Medium-Term Expenditure Framework (MTEF‍) and read it yourself.

President Bola Tinubu is not about to borrow $21 Billion. The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

In other words, the $21 billion is what the Federal Government and the 36 states can borrow over the next three years. Not what they will borrow. What they can borrow. They are not even likely to take those loans. It is just a framework for what is possible.

For example, while the MTEF provides for extensive borrowings in 2025, only $1.23 billion will actually be borrowed. And that $1.23 billion will be borrowed by both the Federal and state governments from all geopolitical zones.

The MTEF only shows possible borrowing that Nigeria is entitled to based on agreements with our external borrowing partners, which must be in line with both the Fiscal Responsibility Act 2007 and the Debt Management Office. (Establishment) Act 2003.

And the Borrowing Rolling Plan ties such possible borrowings by the Federal and State Governments to specific projects.

For actual borrowings, Nigerians should look at the budgets of both the Federal and State Governments.

Therefore, the sensational headlines proclaiming that President Tinubu is to borrow $21 billion are both fake and alarmist.

Again, I urge Nigerians to read the MTEF and the 2025 Appropriation Act.

President Bola Tinubu is a First-Class Cum Laude accountant adept at securing finances at the best rates from the most suitable lenders and for the right purposes.

Under such a skilled professional hand, one who has worked in the highest levels at both the private and public sectors, Nigerians can expect their national debt to reduce, not increase.

Finally, Nigerians should note that many opposition media and influencers know that many of our people sadly do not read and are, therefore, susceptible to manipulation via misinformation and propaganda.

Thus, I urge the public to read as much as possible and verify from official sources before they make conclusions based on sensational headlines.

— Reno Omokri

BREAKING: APC governors endorse Tinubu for 2027 presidential race

 

BREAKING: APC governors endorse Tinubu for 2027 presidential race

In a major show of party unity and political momentum, governors elected on the platform of the All Progressives Congress (APC) have formally endorsed President Bola Ahmed Tinubu as their sole candidate for the 2027 presidential election.

The endorsement came on Thursday during the APC National Summit ongoing at the State House Conference Centre in Abuja, where the Progressive Governors Forum (PGF) made a collective declaration of support for the President’s re-election bid.

The motion was moved by the Chairman of the Forum and Governor of Imo State, Senator Hope Uzodimma, and was seconded by Governor Uba Sani of Kaduna State.

El-Rufai says Minister Tijani, will be retained role if coalition unseats Tinubu in 2027

 El-Rufai says Minister Tijani, will be retained role if coalition unseats Tinubu in 2027

Former Kaduna State governor, Nasir El-Rufai, has voiced support for the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, saying he would retain his ministerial position should the emerging political coalition succeed in unseating President Bola Tinubu in the 2027 general election.

 

President Tinubu meets with Peter Obi, Fayemi at the Vatican

• David Peter
 
• News, Politics, Stories 
 
• May 18, 2025
 
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President Bola Tinubu, Mr Peter Obi, the Labour Party Presidential candidate, and former Ekiti governor Kayode Fayemi met at Pope Leo XIV’s installation mass on Sunday in Rome.

Fayemi sighted President Tinubu, where he sat with other leaders and asked Obi to follow him to pay homage to the Nigerian leader. Obi agreed.

On getting to the President, Fayemi broke the ice between Obi and Tinubu. He said:

“Mr. President, welcome to our church, and thank you for honouring the Pope with your presence.”

President Tinubu, ever quick-witted, responded: “I should be the one welcoming you and Peter. I’m the Head of the Nigerian Delegation”.

The President’s response cracked up Obi, who agreed with the President.

Obi said: “Yes, indeed. We are members of your delegation”.

Peter Obi and Fayemi are staunch Catholics and Papal knights.

 

President Tinubu Arrives Rome Ahead of Pope Leo XIV Installation Mass

• David Peter
 
• Civil Organizations, News, Stories 
 
• May 17, 2025
 
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President Bola Ahmed Tinubu arrived in Rome, Italy, on Saturday to join other world leaders at the solemn mass marking the beginning of the Pontificate of His Holiness Pope Leo XIV, the 267th Bishop of Rome and the new leader of the Roman Catholic Church.

The installation mass will take place on Sunday, May 18.

President Tinubu was received at the Mario De Bernardo Military Airport by Ambassador Bianca Odumegwu-Ojukwu, Minister of State for Foreign Affairs, and officials from Vatican City and the Nigerian Embassy after the plane touched down at 6 pm local time.

President Tinubu is in Rome to honour the new Pope’s invitation, conveyed by Cardinal Pietro Parolin, the Vatican’s Secretary of State.

The Papal invitation underscored the need for President Tinubu’s physical presence “at this moment of particular importance for the Catholic Church and the world afflicted by many tensions and conflicts.”

“Your great nation is particularly dear to me as I worked in the Apostolic Nunciature in Lagos during the 1980s,” Pope Leo XIV further said in the invitation.

President Tinubu’s entourage includes the Archbishop of Owerri and President of the Catholic Bishops’ Conference of Nigeria, Archbishop Lucius Ugorji, Archbishop Ignatius Kaigama of Abuja, and Alfred Martins of Lagos.

Mathew Hassan Kukah, the Catholic Bishop of Sokoto Diocese, is also in the president’s entourage.

 

NAPTIP Rescues 19 Girls Impregnated By One Man In Abuja Estate

• Sarah Daniel
 
• News, Stories 
 
• May 17, 2025
 
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The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) says its operatives have rescued 19 girls suspected to have been impregnated by a man in Abuja.

 

Binta Bello, NAPTIP director-general, spoke on Friday at a meeting with Abike Dabiri-Erewa, chairman of Nigerians in Diaspora Commission (NiDCOM), at the commission’s headquarters in Abuja.

 

Bello thanked Dabiri-Erewa for NiDCOM’s support, especially in the recent rescue of 231 young Nigerians from Ghana.

 

She said tackling human trafficking requires joint action from government and key stakeholders, stressing the need for more awareness across all levels.

FG, States, LGCs Share N1.681 TRillion From A Gross Total Of N2.848 Trillion For The Month Of April 2025

 

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FG, States, LGCs Share N1.681 TRillion From A Gross Total Of N2.848 Trillion For The Month Of April 2025

• Sarah Daniel
 
• Agency and Ministry, News, Politics, Stories 
 
• May 17, 2025
 
•  0 Comments

The Federation Account Allocation Committee (FAAC), at its May 2025 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1. 681Trillion to the three tiers of government as Federation Allocation for the month of April 2025 from a gross total of N2.848 Trillion.

 

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Exchange Difference, the Federal Government received N565.307 Billion, the States received N556.741 Billion, the Local Government Councils got N406.627 Billion, while the Oil Producing States received N152.553 Billion as Derivation, (13% of Mineral Revenue).

 

The sum of N101.051 Billion was given for the cost of collection, while N1.066 Trillion was allocated for Transfers Intervention and Refunds.

 

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of April 2025, was N642.265 Billion as against N637.618 Billion distributed in the precee ding month, resulting in an increase of N4.647 Billion.

 

From that amount, the sum of N25.691Billion was allocated for the cost of collection and the sum of N18.497 Billion given for Transfers, Intervention and Refunds. The remaining sum of N598.077 Billion was distributed  to the three tiers of government, of which the Federal Government got N89.712 Billion, the States received N299.039 Billion and Local Government Councils got N209.327 Billion.

 

Accordingly, the Gross Statutory Revenue of N2.084 Trillion received for the month was higher than the sum of N1.718 Trillion received in the previous month by N365.595 Billion. From the stated amount, the sum of N73.741 Billion was allocated for the cost of collection and a total sum of N1.047 Trillion for Transfers, Intervention and Refunds.

 

The remaining  balance of  N962.882 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N431.307 Billion, States received N218.765 Billion, the sum of N168.659 Billion was allocated to LGCs and N144.151 Billion was given to Derivation Revenue (13% Mineral producing States).

 

Also, out of the sum of N40.481 Billion from  Electronic Money Transfer Levy (EMTL), the sum of N38.862 Billion was distributed to the three (3) tiers of government as follows: the Federal Government received N5.829 Billion, States got N19.431 Billion, Local Government Councils received N13.602 Billion. The remaining balance of N1.619 Billion was allocated for Cost of Collection.

 

The Communique also mentioned the sum of N81.407 Billion from Exchange Difference which was distributed to the three tiers of Government as follows: Federal government got N38.459 Billion, the State received N19.507 Billion, the LGCs got N15.039 Billion, while the Oil producing States received N8.402 Billion.

 

Petroleum Profit Tax (PPT), Oil and Gas Royalty, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Excise Duty, Import Duty and CET Levies increased significantly, while Company Income Tax (CIT) recorded a decrease.

 

According to the Communique, the total revenue distributable for the current month of April 2025, was drawn from Statutory Revenue of N962.882 Billion, Value Added Tax (VAT) of N598.077 Billion, N38.862 Billion from Electronic Money Transfer Levy (EMTL) and the sum of N81.407 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.681Trillion.

 

Earlier in his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, emphasized that domestic revenue mobilization is a critical component of Nigeria’s long-term path to sustainable development financing.

 

He thanked the Federation Allocation Account Committee (FAAC) for their resilience in the discharge of their duties.