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Reps Approve Tinubu’s Fresh $516.3m Loan Request

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The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.

The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.

The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.

President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.

The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.

Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.

The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.

The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.

According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.

The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.

It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.

Already, the Federal Executive Council has approved the financing plan.

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TUC Considers Nationwide Strike over Hardship

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The Trade Union Congress (TUC) has expressed concern over the rising pressure on workers’ welfare and economic conditions of the country.

The Congress warned that it would embark on nationwide protest, if there is no improvement.

The warning was conveyed in in a communiqué jointly signed by the TUC President, Mr. Festus Osifo, and Secretary-General, Mr. Nuhu Toro, at the end of its National Executive Council (NEC) meeting in Abuja.

The Congress said the NEC meeting reviewed the state of the nation, developments within the congress, preparations for the 2026 May Day celebration, and other critical issues affecting Nigerian workers.

“The prevailing economic hardship has significantly affected the living standards of Nigerian workers, making daily survival increasingly difficult.

“We are closely monitoring the situation, and if there is no improvement, the congress will have no option but to mobilise workers in defence of their welfare.

“Government must urgently take concrete steps to address the rising cost of living and restore confidence in the economy,” it said.

The Congress said rising fuel prices, inflation, electricity tariff increases and insecurity had combined to erode workers’ purchasing power and living standards.

It noted that global developments, including the Iran–U.S. conflict, were further worsening economic pressures through higher energy costs and supply chain disruptions.

According to the TUC, Nigerian workers have not benefited from higher global oil prices but continue to face rising costs of transportation, food and essential services.

It urged the Federal Government to deploy excess crude revenue to cushion economic shocks and support vulnerable citizens.

The congress also called for urgent measures to stabilise fuel prices, improve electricity supply, and address insecurity nationwide.

It emphasised the need for policies that promote decent work, job security and social protection.

“The government must prioritise the welfare, dignity and security of Nigerian workers in all policy decisions,” it said.

The TUC further called for tax relief for manufacturing companies and workers to ease economic pressure and stimulate productivity.

On electricity, it condemned repeated tariff increases without improved service delivery and demanded fair pricing, universal metering, and an end to estimated billing.

The congress expressed concern over rising insecurity, describing it as a major threat to economic activities and workers’ safety.

It urged government at all levels to adopt coordinated, intelligence-driven strategies to protect lives, farms, businesses and critical infrastructure.

“A stitch in time saves nine,” the communiqué added.

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Ali Ndume Accuses FG of Insincerity in Fight Against Insecurity

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Senator representing Borno South Senatorial District, Ali Ndume, has argued that Nigeria’s lingering insecurity could be decisively tackled within six months if the Federal government demonstrates sufficient commitment.

Ndume stated this on Monday during an interview on Channels Television’s Politics Today programme, where he expressed concern over the recent escalation of violence, particularly in the North-East.

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The lawmaker stressed that beyond complaints, what is required is decisive action and political will.

“It is not about complaining. It is not about asking somebody like me as a senator to say why these things. I always believe that if the President and the Federal Government of Nigeria are serious about this, we can end this thing (insecurity) in six months.

“All we need is to train our soldiers, equip them, arm them very well, and then motivate them,” Ndume said.

The senator lamented the continued loss of military personnel, including senior officers, noting that such incidents highlight deeper operational challenges.

“After killing their commanders, they now come back to kill our commanders and they are still taking about five, six, or even seven. Even today, around Northern Borno, we lost a colonel, I understand, with some soldiers. This should not continue. This is now the problem,” he said.

Ndume also attributed the worsening security situation to inconsistent and incomplete implementation of security strategies.

“The escalating security situation has really been enhanced by the challenge and the threat, and the actions that have been taken that have never been completely done. We have to be very serious about this matter; we have to walk the talk.”

Speaking on the issue of foreign support, the lawmaker emphasised the need for intelligence, technology, and specialised expertise rather than relying on external forces.

“What we need is intelligence. What we need is air support. We also need the expertise of those that are specialists. We even have some that were trained outside, special forces. We have capable hands already on the ground; all they need is equipment, ammunition, and motivation.

“We do not have enough drones. Look at what Burkina Faso is doing, it is technology. We can use technology to finish or minimise these things within the shortest possible time. If you deploy drones and have trained people to operate them, with proper command centres, we can achieve results,” he said.

The Borno South senator further noted that Borno State would have suffered greater devastation without the efforts of Governor Babagana Zulum and commended his interventions in stabilising parts of the State.

Ndume’s comments come amid renewed security concerns in the North-East and across Nigeria.

A recent airstrike at Jilli Market along the Yobe–Borno border on Saturday has come under scrutiny over reported civilian casualties.

The Nigerian Air Force said the strike targeted suspected Boko Haram insurgents and that it is investigating reported civilian casualties.

While casualty figures remain unclear, several deaths and injuries were reported, with victims receiving treatment in nearby facilities.

The incident also followed a deadly attack on Thursday on a military formation in Benisheikh, where troops repelled insurgents but suffered casualties.

Security challenges, including banditry, kidnappings, and communal clashes, persist nationwide.

Meanwhile, President Bola Tinubu, during a recent visit to Bayelsa State, reaffirmed his administration’s commitment to strengthening Nigeria’s security architecture.

Earlier, the United States Department of State had issued travel advisories and begun reducing its staff presence in Abuja. Federal government, however, described it as a routine precaution and not a reflection the country’s security situation.

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200 Feared Killed As Military Airstrikes Hit Yobe Market

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At least 200 people are feared dead after Nigerian ​military jets struck a village market while pursuing Islamist militants in the northeast ‌of the country on Saturday night, a councillor for the area and residents said on Sunday.
Nigeria’s Air Force said it had killed Boko Haram militants in the Jilli axis in Borno state, but in a ​statement released to Reuters on Sunday it did not mention hitting a market. It ​did not respond to further requests for comment.
The government of the neighbouring ⁠Yobe state later said in a statement that an air strike on the area had ​been conducted near a market that people were attending.
“Some people from Geidam LGA (local government area) ​bordering Gubio LGA in Borno state who went to the Jilli weekly market were affected,” said Brigadier General Dahiru Abdulsalam, military adviser to the Yobe state government.
He gave no further details.
The strike occurred in a ​village in Yobe on the border with Borno, the heartland of a long-running insurgency that ​has killed thousands of people and displaced millions more.
Lawan Zanna Nur Geidam, the councillor and traditional head of ‌Fuchimeram ⁠ward in Yobe’s Geidam district told Reuters that those injured were being taken to hospitals in Yobe and Borno.
“It’s a very devastating incident at Jilli Market. As I’m speaking to you, over 200 people have lost their lives from the air strike at the market,” he ​said in a telephone ​interview.
Three other residents and ⁠an official from an international humanitarian agency confirmed the strike and likely death toll.
The Yobe State Emergency Management Agency (SEMA) said it had received ​preliminary reports of an incident at Jilli Market “which reportedly resulted in casualties ​affecting some ⁠marketers” and activated emergency response.
Ahmed Ali, a 43-year-old resident who sells medical consumables at the market, said he had been injured in a blast.
Culled from Reuters

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