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Nigeria Requires More Borrowing for Budget Funding – Finance Minister
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has emphasized the necessity for Nigeria to increase borrowing to finance its budget, even as some government agencies have surpassed their revenue targets. Edun made this statement during an interactive session of the Senate Joint Committees on Finance, National Planning, and Economic Affairs on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper.
Edun stated that borrowing must be strategic and productive, highlighting the importance of funding infrastructure, social services, health, education, and safety nets for vulnerable populations.
“The revenue effort has been commendable but needs to improve further. In the meantime, borrowing is required to meet budgetary needs and achieve sustainable growth,” he said.
Senator Atiku Bagudu, Minister of Budget and Economic Planning, supported this position, noting that borrowing is essential to address the N9.7 trillion deficit in the N35.5 trillion 2024 budget. He cited Nigeria’s long-term Agenda 2050, which targets a GDP per capita of $33,000, as a guiding framework for economic planning.
Meanwhile, several government agencies reported exceeding their 2024 revenue targets. The Economic and Financial Crimes Commission (EFCC) recovered over N197 billion, while the Nigeria Customs Service collected N5.352 trillion, surpassing its N5.09 trillion target.
Similarly, the Nigerian National Petroleum Company Limited (NNPCL) generated N13.1 trillion, exceeding its N12.3 trillion projection for 2024. The agency aims to remit N23.7 trillion to the federation account in 2025.
The Federal Inland Revenue Service (FIRS) also reported surpassing revenue targets across multiple tax components, contributing to the government’s overall fiscal effort.
Despite these achievements, the Senate recently approved a $2.2 billion loan request from President Bola Tinubu. This external borrowing plan aims to partially fund the 2024 budget deficit and ensure the implementation of critical economic programs.
This development underscores Nigeria’s ongoing efforts to balance revenue generation with borrowing to address fiscal challenges and drive economic growth.
WASHINGTON — President Donald Trump has revoked Secret Service protection for Hunter and Ashley Biden, the adult children of former President Joe Biden, marking another step in his efforts to target political opponents.
In a post on his Truth Social platform Tuesday, Trump criticized what he called an excessive security detail for Hunter Biden, claiming he had up to 18 agents protecting him. He also announced that Ashley Biden’s security detail, reportedly consisting of 13 agents, would be withdrawn.
“Please be advised that, effective immediately, Hunter Biden will no longer receive Secret Service protection. Likewise, Ashley Biden… will be taken off the list,” Trump wrote.
Federal law grants lifelong Secret Service protection to former presidents and their spouses, while their children receive coverage only until age 16. However, adult children of presidents often receive extended protection for a period of time.
A Secret Service spokesperson confirmed Trump’s directive, stating, “We are aware of the President’s decision to terminate protection for Hunter and Ashley Biden. The Secret Service will comply and is actively working with the protective details and the White House to ensure compliance as soon as possible.”
Hunter Biden has long been a focal point of Republican criticism, with attacks intensifying after his father pardoned his tax and gun-related convictions before leaving office in January. On Monday, Trump declared that those pardons were void, a move with unclear legal standing.
Since returning to office in January, Trump has also revoked security clearances for Joe Biden, former Secretary of State Mike Pompeo, former National Security Adviser John Bolton, and Dr. Anthony Fauci, who led the country’s COVID-19 response.
The White House defended the decision, with Press Secretary Karoline Leavitt stating in January that individuals are “not entitled to security protection and clearances for life.”
During his first presidency, Trump extended Secret Service protection for six months to his four adult children and several senior officials, a move that cost taxpayers $1.7 million, according to The Washington Post.
The Nigerian Constitution, under Section 188, details the process for the impeachment of a state governor, requiring a structured legal framework that ensures due process and fairness.
According to the provision, impeachment begins when at least one-third of the members of the State House of Assembly sign a written notice accusing the governor of gross misconduct. The allegations must be clear, specific, and detailed to avoid ambiguity.
Once the notice is received, the Speaker of the House has seven days to serve a copy to the governor and distribute the governor’s response to all assembly members.
Within 14 days, the House must vote on whether to investigate the allegations. This decision is made by motion without debate and requires a two-thirds majority to proceed. If passed, the Chief Judge of the state is mandated to appoint a seven-member panel within seven days to investigate the allegations. This panel must be composed of individuals who are not members of a legislative house, public service, or political party.
During the investigation, the governor has the right to defend himself personally or through legal representation. The panel has three months to complete its inquiry and submit its findings to the assembly.
If the panel concludes that the allegations lack proof, the impeachment process is terminated. However, if the panel finds the allegations proven, the assembly must, within 14 days, vote on the report. A two-thirds majority vote in favor results in the governor’s immediate removal from office.
This process ensures that impeachment is not arbitrary but follows a clear legal and procedural path, reinforcing democratic accountability in governance.
Asaba, Nigeria – Operatives of the Delta State Police Command have killed four suspected kidnappers in a gunfight and recovered an AK-47 rifle with a magazine, according to a statement by the state’s Police Public Relations Officer, Bright Edafe.
Edafe said the police had earlier arrested a suspect on March 9, 2025, while he was attempting to buy ammunition for an AK-47 rifle. During interrogation, the suspect revealed the rifle’s location, leading the police to a bush along the railway line in Agbarho. Upon arrival, the gang engaged the police in a fierce shootout, leaving four suspects with fatal gunshot wounds.
The injured suspects were taken to the General Hospital in Ughelli, where they were later confirmed dead. Their bodies have been deposited in the morgue as police intensify efforts to track down other fleeing gang members.
In a separate operation, police operatives arrested a suspected kidnapper in Ibusa, Oshimili North Local Government Area.
Edafe revealed that on March 12, 2025, a resident of Ibusa reported to the police that his friend’s wife had been kidnapped on March 7, 2025, and a ransom was paid. He also disclosed that he was responsible for delivering the ransom and food items to the kidnappers.
Acting on this information, the Divisional Police Officer (DPO) of Ibusa mobilized a team alongside local vigilantes and stormed a bush hideout, leading to the arrest of Abdulahi Isah, a suspected member of the gang.
The suspect is currently in custody, and investigations are ongoing.
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