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The Speaker of the House of Representatives, Tajudeen Abbas, has dismissed reports claiming that he openly condemned the Federal Government’s borrowing practices. At the West Africa Association of Public Accounts Committees (WAAPAC) conference on Monday, Abbas had raised concerns over Nigeria’s rising debt profile, warning that it had reached “a critical point” and called for reforms in debt management and oversight. “As of the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, about US$97 billion. Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 per cent, well above the statutory ceiling of 40 per cent set by our laws. This is not just a budgetary concern but a structural crisis that demands urgent parliamentary attention and coordinated reform,” he said. Read Also: Nigeria’s N149trn Debt Threatens Stability – Abbas Tinubu Sacks Special Assistant on Digital and Creative Economy FCT Resident Doctors Begin Seven-Day Warning Strike However, in a clarification issued by his Special Adviser on New Media, Jowosimi Enitan, the Speaker maintained that his comments had been misinterpreted. “For the record, Speaker Abbas Tajudeen, PhD, GCON, never condemned borrowing,” Enitan stated. He explained that Abbas, who was represented at the conference by PDP lawmaker Babatunde Salam, emphasized that borrowing could serve as a useful tool for growth if properly managed. “Public debt, if managed prudently, can be a tool for growth and prosperity. The legislature’s role is to ensure that every naira borrowed delivers tangible value to Nigerians,” Enitan noted. He further highlighted that President Bola Tinubu is already working to reduce reliance on borrowing through a stronger non-oil revenue drive. “For the first time in decades, Nigeria has met its 2025 revenue target ahead of schedule, without reliance on borrowing. This is proof that with discipline, focus, and courage, we can reduce dependence on external loans and secure our economic sovereignty,” he said. Enitan stressed that Abbas’s remarks were not against borrowing itself but a call for transparency, accountability, and effective oversight to ensure that loans are channeled into meaningful development projects such as roads, schools, hospitals, and innovation. “Oversight of public debt is a constitutional duty and a moral responsibility of parliament. The Speaker’s position is about safeguarding Nigeria’s financial future, not playing to the gallery of mischief-makers,” Enitan added.

President Bola Tinubu has relieved Fegho John Umunubo of his appointment as Special Assistant on Digital and Creative Economy (Office of the Vice President), with immediate effect. The decision was announced on Monday in a statement signed by Abiodun Oladunjoye, Director of Information and Public Relations at the Presidency. “Stakeholders and constituents of the digital and creative economy, at home and abroad, as well as the general public are hereby notified that Fegho John Umunubo, who hitherto served as Special Assistant to the President on Digital and Creative Economy (Office of the Vice President), has been disengaged with immediate effect,” the statement read. Read Also: FCT Resident Doctors Begin Seven-Day Warning Strike The Presidency further clarified that Umunubo no longer represents the administration in any capacity. “Anyone who interfaces with him in the name of President Tinubu’s administration does so at his or her own risk. We urge all stakeholders and constituents of the digital and creative economy to be guided accordingly,” the statement added.  

The Trade Union Congress (TUC) has strongly condemned the Federal Government’s proposed 5 percent levy on petroleum products, describing it as an act of “economic wickedness” that will further impoverish Nigerians. The government defended the plan, explaining that the revenue would be used to fund road projects and address infrastructure gaps. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, argued that similar taxes exist at even higher rates in over 150 countries. Despite this justification, the TUC issued a two-week ultimatum for the withdrawal of the policy, warning that failure to comply could trigger a shutdown of key sectors of the economy. Read Also: Nigeria’s N149trn Debt Threatens Stability – Abbas FCT Resident Doctors Begin Seven-Day Warning Strike Abba Ganduje Launches Youth Empowerment Programme in Kano In a joint statement signed by TUC President Festus Osifo and Secretary General Nuhu Toro, the union stressed that Nigerians are already overburdened by multiple taxes, subsidy removal, and rising inflation. “This reckless proposal is nothing but an act of economic wickedness against already overburdened Nigerians,” the statement read. “Workers and citizens are still reeling from the pains of subsidy removal, skyrocketing fuel prices, food inflation, and a collapsing naira. To now introduce another levy on petroleum products is to deliberately compound suffering, cripple businesses, and push millions deeper into poverty.” The union accused the government of treating citizens as “sacrificial lambs” in its economic experiments, instead of providing relief, jobs, and genuine solutions. It vowed that the proposal must be stopped entirely. Reiterating its readiness to act, the TUC warned that a nationwide strike remained an option if the government presses ahead with the policy. It directed its state councils, affiliates, and structures across the country to remain vigilant and await further instructions. The statement also called on civil society groups, professional bodies, student unions, market associations, faith leaders, and other stakeholders to join in resisting the levy. “Together, we must resist policies that seek to further impoverish citizens and mortgage our future. Enough is enough. Nigerians deserve economic justice, not endless punishment,” the TUC declared.