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Bauchi State Governor, Bala Muhammed, has lamented the impact of flooding incidents recently in the country, saying it poses a major challenge to food security in the country. This is as he disclosed the National Economic Council has asked states affected by floods to submit damage reports by Monday, September 09, 2024. Muhammed, disclosed this
Nigeria’s President Bola Tinubu has written to the National Assembly to approve a fresh N1.767 trillion as a new external borrowing plan in the 2024 appropriation act. Tinubu’s request was read by the speaker, Tajudeen Abbass, during plenary on Tuesday. Accordingly, if approved, the loan will be used to part-finance the budget deficit of N9.7
Tinubu seeks Senate’s approval of fresh N1.767tn external borrowing
Nigeria’s President Bola Tinubu has written to the National Assembly to approve a fresh N1.767 trillion as a new external borrowing plan in the 2024 appropriation act.
Tinubu’s request was read by the speaker, Tajudeen Abbass, during plenary on Tuesday.
Accordingly, if approved, the loan will be used to part-finance the budget deficit of N9.7 trillion for the 2024 budget.
The president has also forwarded the MTEF/FSP 2025-2027 to parliament and the National Social Investment Programme establishment amendment bill to make the social register the primary tool for the implementation of the federal government’s social welfare programmes.
Last Thursday, the Federal Executive Council, FEC, approved a $2.2 billion external borrowing plan as part of the Federal Government’s 2024 Appropriation Act financing program.
With the latest move to get an additional $2.2 billion fresh borrowing plan, DAILY POST reports that Nigeria’s external debt may increase to $45.1 billion by the end of 2024.
https://dailypost.ng/2024/11/17/trouble-looms-as-nigerias-external-debt-m
This is as the Central Bank of Nigeria recently said the Federal Government spent $3.58 billion servicing the country’s foreign debt in the first nine months of 2024.
CBN’s data on international payment statistics showed that the amount represents a 39.77 per cent increase from the $2.56 billion spent during the same period in 2023.
According to the report, while the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.37m, the highest monthly expenditure in 2023 was $641.70m, recorded in July.
External debt for the states and the Federal Capital Territory also climbed from $4.61bn to $4.89bn within the period under review.
Tinubu seeks Senate’s approval of fresh N1.767tn external borrowing
#EndBadGovernanceInNigeria protesters resumed at the Gani Fawehinmi Freedom Park, Ojota, on Monday to continue their demonstration. PUNCH reports that the…
The President of the United States, Donald Trump, is set to sign an executive order next week ending his predecessor Joe Biden’s paper straw policy. The 47th US president disclosed this in a statement released on Truth Social on Friday. Trump described Biden’s push for eco-friendly paper straws as “ridiculous and ineffective.” According to him,
Trump to ditch Biden’s paper straws for plastic
The President of the United States, Donald Trump, is set to sign an executive order next week ending his predecessor Joe Biden’s paper straw policy.
The 47th US president disclosed this in a statement released on Truth Social on Friday.
Trump described Biden’s push for eco-friendly paper straws as “ridiculous and ineffective.”
According to him, the executive order will restore the use of plastic in the United States.
“I will be signing an executive order next week ending the ridiculous Biden push for paper straws, which don’t work. BACK TO PLASTIC!” Trump said.
This move comes amid a flurry of executive orders signed by Trump since his inauguration on 20 January 2025.
Biden’s administration had, in 2022, ordered the phase-out of all single-use plastic products—including plastic straws, food and beverage containers, and bottles—on all federal lands, including national parks, by 2032.
Trump to ditch Biden’s paper straws for plastic