Economy
How Tinubu Spends N3.5Trillion On Debt Servicing In 3 Months
How Tinubu Spends N3.5Trillion On Debt Servicing In 3 Months
How Tinubu spends N3.5trillion on debt servicing in three months. An analysis of data released by the Debt Management Office, reviewed by media, reveals that President Bola Tinubu’s administration spent N3.5 trillion on debt servicing between July and September 2024.
The data also indicates that $1.338 billion was allocated to external debt servicing during the same period.
The government, in the DMO data announcing the country’s total public debt, noted that the exchange rate as of September 2024 stood at ₦1601 per dollar. This implies that a total of ₦2.1 trillion ($1.338 billion multiplied by ₦1601) was spent on external debt servicing between July and September.
The country took loans externally from sources such as African Development Bank, Africa Growing Together Fund, International Fund for Agricultural Development, Islamic Development Fund among others.
The $1.338 billion spent on external debt servicing between July and September, is more than the $1.120 billion spent between April and June 2024. It is also more than the $1.120 billion spent between January and March 2024, on external debt servicing.
Domestically, the country recorded N1.4 trillion for debt servicing. The money was broken down into N276.3 billion in July, N457.7 billion in August and N699.2 billion in September.
Between January and June, the government spent N2.8 trillion on servicing debts domestically.
The sum of N252.8 billion was spent in January 2024, N168.6 billion was spent in February, N567.8 billion was spent in March, N482.4 billion was spent in April, N1.085 trillion in May and N295.5 billion in June.

Tinubu
With the government spending N3.5 trillion on debt servicing between July and September, it would mean that what was spent is more than the N2.2 trillion revenue retained by the federal government between July and September, according to details published by the Central Bank of Nigeria.
Economy
NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards
NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards
NNPC Ltd.’s Chief Health, Safety and Environment Officer, Tonye Alagba, has urged Health, Safety and Environment (HSE) personnel across the company to strengthen collaboration and build a unified HSE team.
Alagba, who made the call at the recent First Quarter 2026 HSE Council Meeting held in Abuja from 15th to 17th April, 2026, called for collective responsibility, strict compliance, and proactive prevention of HSE violations across all business units.

NNPC
NNPC Ltd. values strict HSE adherence across all its businesses and operations. The HSE Council Meeting signals the company’s broader intent to raise the bar for safety culture across Nigeria’s energy sector.
Economy
NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG
NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG
NNPC Limited, in partnership with Shell Nigeria Exploration and Production Company Limited (SNEPCo), the Nigerian Content Development and Monitoring Board (NCDMB), and the University of Lagos (UNILAG), commissioned and donated the newly built UNILAG Geosciences Centre of Excellence to the University on Friday.
Purposely built to strengthen geosciences education and research in Nigeria, the Centre was inaugurated by the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services Ltd. (NUIMS), Olanrewaju Igandan, alongside the Managing Director of SNEPCo, Ronald Adams; Director of Capacity Building (NCDMB), Abayomi Bamidele; Lagos State Commissioner for Tertiary Education, Tolani Sule; and the Vice-Chancellor of UNILAG, Professor Folasade Ogunsola.
The Centre boasts of a 250-seat auditorium, geoscience and instrumentation laboratories, a rock preparation workshop, hydrogeology, mineralogy, environmental geology, sedimentary and palaeoenvironmental sciences laboratories, a seismic interpretation room, a modern library, a digital museum, and collaborative spaces for students and researchers. It is also supported by a 600 kVA transformer, a 40 kVA solar power facility, and a field investigation coaster bus.

SNEPCo, NNPC
By connecting academia, industry, and government under one roof, the Centre provides Nigerian students and researchers with hands-on access to modern energy tools, reduces the oil and gas industry’s reliance on international markets for testing and training, and builds the in-country expertise Nigeria’s energy sector needs.
NNPC Limited remains committed to driving capacity building, supporting national development, and working with partners to secure a stronger energy future for Nigeria.
Economy
NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)
NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)
The Committee of Ministers for the West African Gas Pipeline Project met in Abuja on Friday, reaffirming its central role in West Africa’s regional energy agenda.
The meeting brought together ministers and high-level representatives from Nigeria, Benin, Togo, and Ghana, alongside officials from ECOWAS, the West African Gas Pipeline Authority (WAGPA) and West African Gas Pipeline Company Limited (WAPCo).
Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, who opened the meeting, reaffirmed Nigeria’s commitment to the long-term sustainability and expansion of the pipeline, adding that since its inception, the WAGP has transported over 613 million MMBtu of natural gas, with Nigeria accounting for more than 68 per cent of total volumes supplied to Benin, Togo, and Ghana.

NNPC
On his part, NNPC Limited’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, emphasised the company’s active stewardship of Nigeria’s gas export commitments and its broader role in shaping regional energy cooperation across West Africa.
With gas throughput reaching approximately 80 million MMBtu in 2025, a 22 per cent rise on prior years, and discussions advancing on expanding pipeline capacity utilisation by 45 per cent in 2026, NNPC Limited remains at the centre of efforts to grow a credible, commercially viable regional gas market.
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