Economy
Clearing $3.4bn IMF Loan Boosted Nigeria’s Credibility Globally: Information Minister
Clearing $3.4bn IMF Loan Boosted Nigeria’s Credibility Globally: Information Minister
Clearing $3.4bn IMF loan boosted Nigeria’s credibility globally: Information minister. Mohammed Idris, minister of information and national orientation, says the full repayment of Nigeria’s $3.4 billion COVID-19 loan from the International Monetary Fund (IMF) has enhanced the country’s credibility on the global stage.
On May 8, TheCable reported that Ngera had cleared the $3.4 billion COVID-19 loan.
Speaking on Monday after the federal executive council (FEC) meeting presided over by President Bola Tinubu in Abuja, Idris said Tinubu directed the repayment of the facility in line with his view of government as a continuum.
He added that the move has strengthened investor confidence in Nigeria’s ability to meet its debt obligations.
“President Tinubu, as usual, sees government as a continuum. He directed that the government should exit that debt, and I can report to you today that Nigeria has indeed exited from that IMF facility,” Idris said.
“This move has boosted our credibility globally. It reassures foreign investors of Nigeria’s capacity to meet its debt obligations and improves our rating across international financial platforms.”
The minister acknowledged scepticism over the announcement but insisted the repayment was real and complete.
“I saw some cynicism in some quarters questioning whether this is true. I can confirm it: the debt has been paid in full,” he added.
FEC APPROVES NEW PROCUREMENT THRESHOLDS
He also said the council approved new procurement thresholds to reduce delays in public service delivery.
“Council, upon the approval of the President, has directed the Bureau of Public Procurement to communicate new thresholds on the procurement of goods and services,” Idris said.
“This adjustment is long overdue and will reduce the number of approvals required by the Council, speeding up government processes.”
The minister said details would be circulated to all ministries, departments, and agencies (MDAs) to improve operational efficiency.
Idris also stressed the government’s commitment to expanding private sector involvement in driving national economic growth, especially in infrastructure projects like road development.
He said ministries, especially the ministry of works, have been directed to work more closely with private sector players who are willing to invest their funds.
“There is an increasing need for people in the private sector to participate actively in our economic growth here as a nation,” he said.
“We have seen an increased appetite among private sector players to come in and contribute their own quota towards infrastructure development.”
FG MOVES TO CRIMINALISE THEFT OF INFRASTRUCTURE
Addressing security of public infrastructure, the minister said the government is taking steps to clamp down on the theft and illegal trade of government assets, particularly metal components from roads and bridges.

Information Minister
“There is an increased activity that the government has noted where people go, especially in the cover of the night, remove some of these government assets, iron metals and scraps, and then go to sell them to other individuals who in turn now recycle them and bring them back to the market,” he said.
He said while laws exist, the Tinubu administration is considering tougher measures and has directed the attorney-general of the federation to review current legislation.
“The federal government is already mulling the possibility of criminalising this,” he said.
“Of course, we already have some of these laws in existence, but we are looking at them in depth, and the attorney general of the federation has been directed to look at that.”
The minister described the situation as a threat to national development and called for urgent legislative intervention.
Economy
ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku
ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku
ADC is Nigeria’s only reliable political party, others brought insecurity, hunger, says Atiku. Former Vice-President Atiku Abubukar says the African Democratic Congress (ADC) is the only reliable political party in the country, noting that others have brought insecurity, hunger, poverty and unemployment.
Speaking in Jalingo, the capital of Taraba state, during the official opening of the ADC state secretariat, Abubakar said the party is ready for a 2027 victory but urged Nigerians to unite to rescue the nation.
He also asked Taraba residents to take part in the ongoing continuous voter registration exercise, adding that their participation is crucial to reversing Nigeria’s worsening hardship.
“I am in Taraba to inaugurate our new party office of the ADC, and I want you to hold the party with integrity,” Channels Television quoted Atiku as saying.
“Do not allow anybody to deceive you with any other party, because we have tasted other political parties, and they brought nothing but insecurity, hunger, poverty and unemployment. “The youths and women should know that we are doing this for them to have a better future, and I am holding on to their promise. “ADC will win Taraba state and win Nigeria as the only reliable political party.”

ADC Is Nigeria’s Only Reliable Political Party
Abubakar, who formally joined the ADC on Monday—17 months before the 2027 general election—said his experience across political platforms convinced him that the All Progressives Congress (APC), the Peoples Democratic Party (PDP) and other parties lack the capacity to rescue the country.
He resigned from the PDP on July 16, citing “irreconcilable differences” within the opposition party as his reason for leaving.
Akwa Ibom
Akwa Ibom Governor Pledges Commitment To Tourism, Blue Economy Development
Akwa Ibom Governor Pledges Commitment To Tourism, Blue Economy Development
Akwa Ibom governor pledges commitment to tourism, blue economy development… commends Editi Effiong for projecting State’s tourism potentials
As part of his effort to encourage tourism and enhance the State’s blue economy, Akwa Ibom State Governor, Pastor Umo Eno, has reiterated his administration’s commitment to encourage and reward young professionals who are willing to collaborate with his administration in promoting the positive image of the State through the ARISE Agenda.
The Governor made this known while fielding questions from Government House correspondents shortly after embarking on inspection of a locale of a movie, “The Black Book 2” (Old Scores), at Ishiet Beach/Market in Uruan Local Government Area.
He commended the movie Producer and Director, Mr. Editi Effiong, for his talent, vision, inspiration, and creative ability to project the tourism potentials and boost the economy of the State.
Governor Eno charged young Akwa Ibomites to shun divisive tendencies, be inspired, and emulate the creative effort of successful Akwa Ibom sons and daughters by joining hands to develop the tourism and blue economy of the State.
“The impression is amazing, seeing that we have one of our own trying to pull the world down here.
“I would love to thank and encourage him, and to let our young people see that Akwa Ibom has what it takes to drag the world’s attention.
“It depends on what you see. Someone can see this place and write one story about a swamp that has been abandoned and make all the noise. Another person sees this place and makes a great movie out of it that will market this place to the world and is able to attract the attention because of the work he has done here,” he said.
The State Chief Executive pledged his encouragement, support, and collaboration with Editi and other young Akwa Ibomites to enable them rise to the zenith of their calling.
“We are going to work with him. Editi is a young man I have known very well. This is one thing I say to our people in the diaspora, let’s partner. Come back home, whatever you see out there, bring it back here, and let’s work together.
“I think that is the story, and I am really impressed. If you know the number of people that have visited this State in the course of this film, the talents, and the caliber of artists that have been here, then this young man deserves an award and our support,” he added.

Ibom Deep SeaPort
On his part, the movie Producer and Director, Effiong, appreciated Governor Eno for his visionary leadership and passion for tourism development.
He expressed gratitude to the Governor for creating a hospitable and tourism friendly ecosystem to enhance talent exploration through the provision of good road network and quality modern facilities which distinguished the State as one of the most treasured locations in the country.
Crime
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
EFCC releases ex-AGF Malami after hours of interrogation. He said he would return for further questioning.
The Economic and Financial Crimes Commission (EFCC) has released the former attorney general of the federation and minister of justice, Abubakar Malami, after hours of interrogation by the anti-graft team.
Mr Malami confirmed his release in his X account on Saturday. The former minister said that he had been released and scheduled for another meeting with investigators.
He said that the reality behind the “fabricated allegations” levelled against him would become clearer with time.
“In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for his divine intervention. “The engagement was successful and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continues to unfold.”

EFCC Releases Ex-AGF Malami After Hours Of Interrogation
The EFCC had summoned Mr Malami through a letter dated November 24, and signed by Sunday Ofen-Imu on behalf of its chairman, Ola Olukoyede.
The EFCC did not disclose the specific allegations for which Mr Malami was invited.
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