Oduduwa News

Former Vice President Atiku Abubakar has come down hard on President Bola Ahmed Tinubu over his recent loan request to the National Assembly, warning that the borrowing spree is mortgaging Nigeria’s future.

In a strongly worded statement issued on Thursday, Atiku described Tinubu’s request for a $21.54 billion foreign loan and a ₦758 billion pension bond as “reckless, dangerous, and immoral,” accusing the administration of dragging the country into a debt trap that could cripple generations to come.

“The Tinubu administration is borrowing money not for development but to service existing loans, fueling a debt spiral that leaves nothing for infrastructure, education, healthcare, or jobs,” Atiku stated.

The two-time presidential candidate of the Peoples Democratic Party (PDP) said public debt has surged by 65.6% since Tinubu took office in May 2023, warning that the fresh loan request would push Nigeria’s debt from ₦144.7 trillion to a staggering ₦183 trillion.

“This is not just unsustainable—it is immoral,” Atiku warned. “Tinubu has thrown caution to the wind and turned public finance into a Ponzi scheme—borrowing to pay debts and then borrowing more to pay interest.”

The president’s request to the National Assembly includes $21.54 billion, €2.19 billion, and ¥15 billion, totaling over $24 billion in foreign loans.

Atiku did not mince words in condemning the move, labeling it “economic sabotage.” He urged the National Assembly, civil society organizations, the media, and the international community to intervene before it’s too late.

“We call on lawmakers, civil society organizations, the media, and the international community to take urgent action to stop this looming catastrophe. Nigeria must not be sold into debt slavery,” he said.

Lagos Reporters will continue to monitor developments around this controversial loan request and provide detailed analysis, reactions, and implications for Nigerians across all sectors.

As public concern grows over the country’s rising debt profile and economic hardship, Atiku’s criticism adds to mounting pressure on the Tinubu-led administration to reconsider its fiscal direction.

The Ooni of Ife has gifted 3 acres of land to the International Council for Ifa Religion, ICIR, for the construction of the largest World Ifa Temple in Ile-Ife.

Located at the Stadium area, Route 7, Ile-Ife, Osun state, this monumental project will serve as a major pilgrimage site for Ifa and Orisha devotees worldwide.

This generous gesture underscores Ooni’s commitment to preserving cultural heritage and promoting spiritual growth across the globe.

Students have been asked to shun all forms of indecency and concentrate more on their studies to attain their desired goals and aspirations.

This call was made at the 2025 Children’s Day celebration held at Baale’s Palace, Akinyele, Ibadan as sponsored by a Senior Lecturer and Gender Rights Advocate at the Department of History, University of Ibadan, Dr. Mutiat Oladejo.

The group led by the Programme Coordinator, Alhaji Yekini A. A. Kareem-Ojo highlighted important roles of good parenting in shaping the lives of the children to become useful for themselves and the society at large.

They therefore called on government to provide conducive learning and skill acquisition environment while advising teachers to be diligent in the discharge of their duties.

The communique of the event is reproduced below:

THE YEAR 2025 CHILDREN’S DAY CELEBRATION

A COMMUNIQUE ON THE YEAR 2025 CHILDREN’S DAY CELEBRATION HELD AT THE BAALE’S PALACE, AKINKUNMI TOWN IN AKINYELE L.G.A., OYO STATE, NIGERIA ON TUESDAY, 27TH MAY, 2025

The programme which was sponsored by a native of Akinkunmi Town in person of Dr. Mutiat T. Oladejo (nee Kareem-Ojo), a senior Lecturer and specialist in African History, Women-in-Politics, and Gender Studies at the History Department, Faculty of Arts, University of Ibadan, Ibadan, Nigeria was attended by about one hundred pupils and students of primary and secondary schools in Iroko and its environs.

The Baale, Chief Zakariya Olagoke Akinkunmi, supported by notable elders of the town, graced the occasion.

It was an inter-generational get-together where children were opportune to tell elders their feelings or opinions about life as it affect them, and the latter give guidance and counselings, accordingly.

In particular, there was demand for a more conducive learning environment that would assure the achievement of children’s academic-cum-career goals in a more efficient and effective manner.

It was highly informative, entertaining and, above all, educative as these two papers were presented at the occasion: “THE ESSENCE/IMPORTANCE OF CHILDREN’S DAY CELEBRATION” by Alhaja Saudat Ojo-a retired Vice Principal, TESCOM (Oyo State); and “HOW TO STUDY EFFECTIVELY” by Alhaji Yekinni Kareem-Ojo, an educator and retired Chief Accountant, University of Ibadan. The children were also given books of various titles published by REAMSWORTH PUBLISHING LIMITED, IBADAN.

In conclusion, all stake-holders were advised to do the needful:

1. Children to be more studious and shun all forms of indecency;
2. Parents to provide adequate learning material and conducive environment for home-study;
3. Governments at all levels to provide a more conducive learning and skill acquisition environment;
4. They should also create more conducive business-cum-investment environment;

Same goes for wealthy individuals, corporate bodies and non-governmental organisations (NGO) in the country, and

Teachers to be more diligent in the discharge of their duties and be models for the children.

Alhaji Yekinni A.A. Kareem-Ojo, MNIM (chartered), Programme Coordinator

Oduduwa News has gathered that a suspected thief has been arrested and taken to custody by Ekiti Police Command.

The suspect who allegedly duped a boutique of N150,000 worth of goods in Ado Ekiti has been apprehended in Ikere Ekiti.

The man, who was captured on CCTV footage deceiving the salesgirl, was tracked down and caught by authorities. The suspect is currently in custody, and further investigation is underway.

The successful arrest brings relief to the boutique owner and serves as a warning to would-be scammers in the state.

The World Health Organisation (WHO) has revealed that 20 million Nigerians—around 20% of the country’s population—are living with mental health conditions.

This was disclosed by Dr. Azubike Aliche, Secretary of the Board of Trustees, Nigeria-American Institute for Mental Health (NAIMH), during a mental health GAP Action training held in Owerri. The programme was organised by NAIMH in collaboration with the Centre for Social Awareness, Advocacy and Ethics (CSAAE), and sponsored by Nigeria Mental Health Practitioners (NMHP) USA Inc.

Dr. Aliche said the training aimed to empower non-psychiatric health workers to screen for mental health symptoms and assist affected individuals. He described Nigeria’s d+pression rate as “alarming”—reportedly the highest in the world—and stressed the urgent need for change. He also noted that only 10% of those s¥ffering from ment@l illnesses in Nigeria currently have access to care.

Rev. Sr. Josephine Nzeke, an executive member of NMHP USA, explained that the four-day training, in its pilot stage, involves 25 healthcare professionals drawn from five local government areas in Imo State. After training, these participants will offer community-based mental health services.

Imo State Health Commissioner, Dr. Chioma Egu, called the ment@l health crisis a global concern and urged stakeholders to align with government policy frameworks.

Mr. Justice Ulunta, a facilitator from the Federal University of Allied Health Sciences, Enugu, called on the government to allocate more resources for training mental health professionals and upgrading facilities.

President Bola Tinubu on Tuesday transmitted three letters to the National Assembly requesting legislative approval for a new external borrowing plan amounting to over $21.5 billion, and a domestic bond issuance of ₦757.9 billion to settle outstanding national pension liabilities.

Tinubu made these requests in three separate letters transmitted to the National Assembly, which were read on the floor of the House of Representatives by the Speaker, Tajudeen Abbas.

In the first correspondence, President Tinubu sought the National Assembly’s approval for the establishment of a foreign currency-denominated issuance programme in the domestic debt market.

The proposed capital raise of up to $2bn would be implemented by the Debt Management Office in line with the Presidential Executive Order on Foreign Currency Denominated Financial Instruments, Local Issues Programme, 2023.

The president emphasised that the proceeds from the bond would be deployed into critical sectors of the economy capable of driving growth, enhancing infrastructure, creating employment, and boosting foreign exchange inflows.

He also noted that this initiative would offer dollar-denominated investment opportunities for local investors, deepen Nigeria’s financial market, and strengthen foreign reserves while promoting exchange rate stability.

According to Tinubu, the total facility sought under the external borrowing plan includes USD 21,543,647,912, EUR 2,193,856,324.54, and 15 billion Japanese Yen, in addition to a grant of 65 million EUR.

He noted that the proposed borrowing is crucial in light of the removal of fuel subsidy and its economic impact on the nation and its citizens.

“In light of the significant infrastructure deficit in the country and the paucity of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall,” the president said.

The President assured lawmakers that the proposed funds would be channelled into critical infrastructure projects, especially in the areas of railways, healthcare, and nationwide development programs across all 36 states and the Federal Capital Territory.

This initiative aims to generate employment, promote skill acquisition, foster entrepreneurship, reduce poverty, and enhance food security, as well as to improve the livelihoods of Nigerians,” he added.

However, Tinubu acknowledged that the programme would increase Nigeria’s public debt stock and servicing costs.

In a second letter, President Tinubu sought approval for the issuance of Federal Government of Nigeria bonds totalling N757.98bn to settle outstanding pension liabilities under the Contributory Pension Scheme as of December 2023.

Referencing the provisions of the Pension Reform Act (PRA) 2014, Tinubu noted that the government had struggled to meet its pension obligations over the years due to revenue challenges.

Oduduwa News has gathered that a disagreement between two friends over a missing stabilizer had resulted to a tragic loss of life.

A 23-year-old tailor, Faith Adeola, has been arraigned for allegedly stabbing his friend, Gbenga Olotu, to death during a dispute over a missing stabilizer in Oka-Akoko, Ondo State.

The incident occurred on May 10 after an argument turned violent.

The court has ordered Adeola’s remand pending legal advice, with the case adjourned to May 29.

World Record holder Tobi Amusan 🇳🇬 delivered a dominant performance at the Rabat Diamond League, storming to victory in the women’s 100m hurdles with a Meeting Record (MR) and Season’s Best (SB) of 12.45s.

She was followed by the Netherlands’ Nadine Visser, who clocked 12.67s, and Poland’s Pia Skrzyszowska, finishing third in 12.69s.

Amusan is steadily shifting into high gear as the season heats up.

In a bold and deceptive attempt to smuggle drugs through Nigeria’s busiest airport, operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted a consignment of narcotics disguised as plantain chips at the Murtala Muhammed International Airport in Lagos.

The discovery was made during a routine inspection by NDLEA officers who grew suspicious of the packaging and promptly conducted a search. Inside the bags labeled as snacks, the operatives found quantities of skunk—a potent strain of cannabis—carefully hidden.

Revealing the bust in a post shared on Sunday via his official X (formerly Twitter) handle, the NDLEA’s Director of Media and Advocacy, Femi Babafemi, wrote: “Narco-trend update: This consignment was packaged as plantain chips, but inside was a skunk, as discovered by vigilant #ndlea_nigeria officers in one of their latest seizures at Lagos airport. Always be careful of what you’re given to travel with!”

The agency has yet to disclose the identity of those behind the attempt, but investigations are ongoing to trace the source and destination of the illicit cargo.

The NDLEA continues to urge travelers to be cautious and vigilant, especially when asked to transport packages on behalf of others. The agency reiterates its warning: what may appear to be an innocent parcel could, in fact, be a smuggler’s trick—putting unsuspecting individuals at serious legal risk.

Actress and filmmaker Adunni Ade has shared a personal truth about love and relationships, emphasizing that physical beauty is not enough to sustain a meaningful connection or secure a lasting marriage,

According to Vanguard News , she recalled being the centre of attention, admired for her looks and charm. “I used to be the most admired and talked about. Beauty opened many doors. I was loved and desired,” she said. “But I’m still not married.”

Adunni clarified that her single status has nothing to do with her worth. Instead, she believes many were drawn to her appearance rather than her substance. “Some came for the face, not the soul. Some wanted the shine, not the depth,” she explained. “I had to learn that beauty alone is not enough.”

She urged women to prioritize personal growth, self-worth, and inner strength. “Build your mind, know your value, and be whole on your own. Marriage will come at the right time, but don’t think beauty is all it takes,” she advised.

Her message: while beauty might attract attention, it’s character and self-development that truly endure. “Looks fade,” she said. “But who you are on the inside is what truly lasts.”