By Our Correspondent

Nigeria’s public debt stock has surged to a staggering N144.67 trillion ($94.23 billion) as of December 31, 2024, according to the latest report released by the Debt Management Office (DMO). This represents a sharp increase of 48.58% when compared to the N97.34 trillion recorded in December 2023.

The report also indicates a moderate quarter-on-quarter rise in the debt profile. Between September and December 2024, Nigeria’s total debt grew by N2.35 trillion, or 1.65%, moving from N142.32 trillion to N144.67 trillion.

A breakdown of the figures reveals a significant spike in external debt, which climbed by 83.89% within the year. The foreign debt stock rose from N38.22 trillion ($42.50 billion) in December 2023 to N70.29 trillion ($45.78 billion) by December 2024. This substantial increase is attributed to both fresh borrowings from international creditors and the continued depreciation of the Naira against the dollar.

On the domestic front, Nigeria’s local debt stood at N74.38 trillion ($48.44 billion) in December 2024, slightly up from N73.43 trillion ($45.87 billion) in September. The Federal Government remains the largest borrower, with its domestic debt climbing from N69.22 trillion in June to N70.41 trillion by the end of the year.

In a bid to support the 2024 national budget amidst dwindling revenue and rising expenditure, the Federal Government raised $2.2 billion in December 2024 through the issuance of Eurobonds. This marks Nigeria’s return to the international capital market after a brief hiatus, with the funds expected to help bridge critical financing gaps in the national fiscal plan.

Economic analysts have raised concerns over the sustainability of the country’s debt, especially in light of the increasing cost of servicing loans and the limited revenue base. With inflation on the rise and pressure mounting on public finances, the Federal Government faces tough choices in managing its growing debt burden without stifling development.

By Our Correspondent

The Government of Gombe State has officially ratified the 2025-2027 UNICEF Workplan, reaffirming its commitment to enhancing healthcare, education, and child protection across the state.

The Commissioner for Budget and Economic Planning, Alhaji Salihu Baba Alkali, signed the agreement on behalf of the state government, following the directive of Governor Muhammadu Inuwa Yahaya.

Alkali emphasized that the meticulously harmonized three-year workplan, developed in collaboration with UNICEF, outlines strategic interventions aimed at improving the well-being of children and vulnerable groups in the state.

He disclosed that the total financial commitment for the initiative stands at $4,103,300, with $1,449,497 already secured, while efforts are ongoing to mobilize the remaining funds.

Highlighting the impact of UNICEF’s longstanding partnership with Gombe, Alkali noted that the newly adopted workplan prioritizes critical sectors such as healthcare, child protection, social policy, and behavioral change.

Speaking at the signing ceremony, Dr. Nuzhat Rafique, UNICEF’s Chief of Field Office in Bauchi, praised Governor Yahaya’s administration for its steadfast commitment to child welfare and development. She reiterated UNICEF’s dedication to ensuring equitable access to essential services for every child.

Also present at the event, the Special Adviser on Donor/Development Partners Coordination, Dr. Isiaku Babayo, commended UNICEF’s invaluable contributions to key sectors, including health, education, and water, sanitation, and hygiene (WASH) in Gombe.

Dr. Babayo expressed confidence in the seamless implementation of the workplan, reaffirming the state government’s commitment to strengthening its collaboration with UNICEF to build a brighter future for children in Gombe State.

By Mohammed Yakubu Lailai

In a significant move towards fostering agricultural development and economic progress, the Mandate Secretary for Agriculture and Rural Development Secretariat (ARDS), Lawan Kolo Geidam, alongside renowned philanthropist Balarabe Abdullahi, popularly known as Balarabe DJ Nguru, paid a courtesy visit to the Vice President of Nigeria, His Excellency Kashim Shettima, in Abuja.

The high-profile meeting underscored a strong commitment to driving sustainable development, particularly in the agricultural sector and rural economies. As the head of ARDS, Geidam has been at the forefront of repositioning agriculture in the Federal Capital Territory (FCT), working towards sustainable food production and national food security. His efforts align with the federal government’s broader agenda of transforming the agricultural sector into a key driver of economic growth.

During the meeting, Balarabe DJ Nguru emphasized the potential for strategic partnerships between the Vice President, ARDS, and private sector stakeholders to foster innovation in key areas such as economic empowerment, poverty alleviation, and social welfare. He highlighted the need for increased investment in agricultural value chains, youth empowerment initiatives, and infrastructural development in Yobe State and beyond.

Vice President Shettima commended their efforts and reaffirmed the federal government’s commitment to supporting policies and initiatives that enhance food security and rural development. He stressed the importance of collaboration between government agencies and private sector players in achieving sustainable economic progress.

The meeting is expected to pave the way for stronger partnerships, policy support, and targeted interventions that will boost agricultural productivity and economic resilience. Observers anticipate that the discussions will translate into actionable programs aimed at improving livelihoods and fostering economic inclusivity in rural communities.

As Nigeria continues its drive towards self-sufficiency in food production and economic stability, the collaboration between key stakeholders, as demonstrated in this meeting, is a promising step towards achieving these national goals.