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Tinubu Seeks Senate Approval For ₦1.15trn Loan As Naira Strengthens, Lawmakers Launch Probe Into Buhari-Era Rail Projects

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Tinubu Seeks Senate Approval For ₦1.15trn Loan As Naira Strengthens, Lawmakers Launch Probe Into Buhari-Era Rail Projects

President Bola Tinubu has asked the Senate to approve a fresh ₦1.15 trillion domestic loan to help bridge the 2025 budget deficit, even as the upper chamber initiated a sweeping probe into railway projects executed under former President Muhammadu Buhari.

In a letter read during Tuesday’s plenary by Senate President Godswill Akpabio, Tinubu said the new borrowing aligns with the Fiscal Responsibility Act, 2007, and is necessary to close an unfunded deficit gap created by the National Assembly’s expansion of the 2025 budget to ₦59.9 trillion.

“I write to kindly request the approval of the National Assembly to borrow ₦1.15 trillion from the domestic debt market to close the unfunded deficit gap,” the President’s letter read in part.

Akpabio referred the request to the Senate Committee on Local and Foreign Debt, chaired by Senator Aliyu Wammako (APC, Sokoto North), for review within one week.

Meanwhile, the naira appreciated at the Nigerian Foreign Exchange Market on Tuesday, closing at ₦1,433.65 per dollar, stronger than ₦1,436.34 recorded the previous day, despite renewed geopolitical tensions following Donald Trump’s warning over alleged persecution of Christians in Nigeria.

Nigeria is also expected to issue $2.3 billion in Eurobonds this week, with tenors ranging between 10 and 30 years, pending final clearance from the Ministry of Justice. Analysts say the move reflects improved investor sentiment toward Nigeria’s debt market.

At the same time, the Senate launched a full-scale investigation into all railway projects undertaken during the Buhari administration, following persistent derailments, vandalism, and technical failures on the Itakpe–Warri standard gauge line.

The probe, initiated through a motion by Senator Ede Dafinone (Delta Central), will examine project funding, contract execution, and compliance with engineering standards. Lawmakers expressed outrage that multi-billion-naira rail lines completed under Buhari were already failing.

Senate President Akpabio, in a fiery address, condemned what he called “a legacy of deceit and incompetence” in the Buhari-era projects, vowing that the Senate would “dig deep, expose corruption, and hold those responsible to account.”

“You spend trillions on rail lines, commission them, and within a year they begin to fail. Nigerians deserve to know whether these were new lines or refurbished scraps,” Akpabio declared.

The Senate also empowered its Committee on Land Transport to conduct an on-the-spot inspection of the affected routes and submit a technical report within six weeks.

Meanwhile, hundreds of indigenous contractors under the All Indigenous Contractors Association of Nigeria (AICAN) stormed the National Assembly complex, protesting unpaid debts estimated at ₦760 billion. They alleged that the federal government prioritizes payments to foreign contractors while neglecting local firms.

The protests, alongside the loan request and the Senate’s new probe, underscore the economic and political pressures confronting the Tinubu administration as it seeks to stabilize Nigeria’s finances and restore investor confidence.

Zohran Mamdani Elected New York’s First Muslim Mayor, Pledges To Tax Millionaires And Defy Trump Threats

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Zohran Mamdani Elected New York’s First Muslim Mayor, Pledges To Tax Millionaires And Defy Trump Threats

Zohran Mamdani, a 34-year-old democratic socialist, has made history as the first Muslim elected mayor of New York City, winning on a progressive platform that promises to tax the wealthy and expand social programs for working-class residents.

In his victory speech on Tuesday night, Mamdani said his administration would champion inclusivity, social justice, and equity while rejecting fear-based politics.

“In this moment of political darkness, New York will be the light,” he declared. “We will deliver an agenda rooted in compassion and opportunity for all.”

Mamdani, previously a state assemblyman representing Queens, defeated independent candidate Andrew Cuomo and Republican Curtis Sliwa, despite former President Donald Trump’s warning that federal funds could be cut if New York elected him.

Powered by strong youth turnout and grassroots mobilization, Mamdani’s campaign focused on affordable housing, public transit improvement, healthcare access, and climate resilience.

The new mayor pledged to make New York “a model city for equity and shared prosperity,” emphasizing plans to implement a millionaire tax to fund public welfare programs.

His victory comes as Democrats also projected wins in the Virginia and New Jersey gubernatorial elections, bolstering the party’s confidence ahead of next year’s national polls.

Meanwhile, in California, voters approved a controversial measure to redraw congressional districts in favor of Democrats, a move expected to reshape the state’s political landscape before the 2026 midterms.

Though not on the ballot, Trump’s influence loomed large across Tuesday’s contests, underscoring the deep political polarization shaping the United States ahead of another election cycle.

John Usanga Urges Nigeria To Deploy Eminent Emissaries To Ease Rising Tensions With The US

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John Usanga Urges Nigeria To Deploy Eminent Emissaries To Ease Rising Tensions With The US

Deputy Spokesperson of the League of African Ambassadors, Ambassador John Usanga, has called on the Nigerian government to send high-level emissaries to Washington to de-escalate growing diplomatic tensions with the United States following threats by US President Donald Trump over alleged persecution of Christians in Nigeria.

Speaking on ARISE News on Tuesday, Usanga commended the federal government’s initial diplomatic response but stressed that press statements alone were insufficient to manage the situation.

“So far, the steps taken by the federal government are in the right direction. When tensions escalate, the first thing you do is de-escalate,” he said. “But at this point, it’s not enough to respond through press statements. Nigeria is blessed with high-profile individuals, respected globally, who should be deployed as emissaries to de-escalate the tension building up between Nigeria and the USA.”

Usanga suggested that such emissaries could prepare the ground for direct high-level dialogue, signalling Nigeria’s commitment to addressing Washington’s concerns.

He emphasized that while killings across Nigeria are undeniable, they are not religiously motivated, contrary to some narratives being pushed internationally.

“We are here, we know exactly what is going on. Nigerian Christians are not being singled out. There’s terrorism and banditry across the country,” he explained. “We need credible Nigerians with access to US authorities who can explain the reality here and pave the way for sustained diplomatic engagement.”

The former Nigerian ambassador to Guinea-Bissau and Cape Verde also addressed China’s recent show of support for Nigeria following Trump’s remarks, warning against interpreting the gesture as a geopolitical alignment.

“Diplomacy is the engine that drives international relations, and everything about it is based on interest,” he said. “China’s support is its way of showing Nigeria that it is a strong ally. But Nigeria must be careful not to turn this into a ‘them versus us’ scenario between the US and China.”

Usanga urged Abuja to maintain balanced and interest-driven diplomacy, noting that both Washington and Beijing remain vital partners.

“The United States remains a strong ally of Nigeria. In as much as China wants to demonstrate its alliance, we must create room for all partners to engage with us. It’s not about me and them — it’s about all of us working together for the good of society,” he added.

He concluded by underscoring the importance of measured diplomacy rooted in engagement rather than confrontation.

“Yes, sovereignty is recognised under international law as the supreme power of a state within its territory,” Usanga said. “But when you belong to multilateral organisations or have bilateral ties, you’ve already ceded some aspects of sovereignty to honour agreements. What matters now is diplomacy — calm, strategic, and rooted in engagement, not confrontation.”

China Extends Suspension Of Extra Tariffs On US Goods For One Year

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China Extends Suspension Of Extra Tariffs On US Goods For One Year

China has announced the extension of its suspension on additional tariffs imposed on United States goods for another year, solidifying a new phase in the trade truce reached between Presidents Xi Jinping and Donald Trump.

The decision, published Wednesday by the Ministry of Finance, follows bilateral talks held in South Korea at the end of October, where both leaders agreed to maintain trade stability amid months of negotiations.

According to the statement, Beijing will continue to suspend the 24% tariff on US goods and maintain a 10% tariff rate for one year, effective November 10, 2025.

The move reflects “the consensus reached in the China–US economic and trade consultations,” the ministry said.

In a reciprocal gesture, President Trump on Tuesday confirmed that Washington would cut additional tariffs on Chinese imports from 20% to 10%, also beginning November 10.

The world’s two largest economies have been engaged in a fragile trade truce after years of escalating tariffs that severely disrupted global markets. The latest deal aims to ease tensions over export controls, rare earth technology, and agricultural trade.

As part of the agreement, China will cease implementing additional tariffs on a range of American farm products — including soybeans, pork, beef, and dairy — while the US will suspend restrictions on certain Chinese firms and shipbuilding entities.

Beijing also confirmed it will pause export limits on rare earth technology for one year, underscoring a shared commitment to stabilizing key supply chains across industries from defence to electronics.

DSS Dismisses 115 Personnel, Warns Public Against Impostors

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DSS Dismisses 115 Personnel, Warns Public Against Impostors

The Department of State Services (DSS) has dismissed 115 personnel as part of a sweeping internal reform aimed at promoting professionalism, accountability, and integrity within the Service.

In a statement released Tuesday via its official X handle, the DSS said the dismissals occurred over a period of time and were part of ongoing efforts to sanitize the agency’s ranks.

The Service also warned Nigerians to be cautious of dismissed officers still posing as active operatives, emphasizing that names of the affected individuals have been published on its official website — www.dss.gov.ng — for public verification.

“In addition to earlier disclaimers on the duo of Barry Donald and Victor Onyedikachi Godwin, the Service finds it necessary to warn citizens of the fraudulent activities of some of these persons still posing as DSS personnel,” the statement read.

The agency confirmed that both Donald and Godwin, previously dismissed, had been apprehended and would face prosecution for impersonation and related offences.

This development comes amid increased scrutiny of Nigeria’s security institutions, following recent reports of alleged misconduct and procedural lapses within the DSS and other intelligence bodies.

Court Clears PDP To Hold National Convention On November 15–16

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Court Clears PDP To Hold National Convention On November 15–16

An Oyo State High Court has cleared the Peoples Democratic Party (PDP) to proceed with its elective National Convention scheduled for November 15–16, 2025, in Ibadan.

The court also directed the Independent National Electoral Commission (INEC) to attend and monitor the convention in line with the provisions of the Electoral Act.

Further details are expected as developments unfold.

Tinubu Nominates Kingsley Ude As Minister To Replace Uche Nnaji

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Tinubu Nominates Kingsley Ude As Minister To Replace Uche Nnaji

President Bola Ahmed Tinubu has nominated Dr. Kingsley Tochukwu Ude, a Senior Advocate of Nigeria (SAN) from Enugu State, for appointment as a Minister of the Federal Republic of Nigeria.

The President’s request for Ude’s screening and confirmation was contained in a letter read by Senate President Godswill Akpabio during Tuesday’s plenary session.

Following the announcement, the Senate referred the nomination to the Committee of the Whole for consideration and screening.

The nomination comes after the resignation of Uche Nnaji, former Minister of Innovation, Science, and Technology, who stepped down last month amid a certificate scandal involving his academic and NYSC credentials.

Ude, who currently serves as Enugu State Attorney General and Commissioner for Justice, was recently elevated to the rank of Senior Advocate of Nigeria (SAN). His nomination restores Enugu State’s representation in the Federal Executive Council.

Tinubu Seeks Senate Approval For ₦1.15 Trillion Domestic Loan To Fund 2025 Budget Deficit

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Tinubu Seeks Senate Approval For ₦1.15 Trillion Domestic Loan To Fund 2025 Budget Deficit

President Bola Ahmed Tinubu has asked the National Assembly to approve a fresh ₦1.15 trillion domestic loan to finance the deficit in the 2025 national budget.

The request was contained in a presidential letter read on the floor of the Senate during Tuesday’s plenary session.

According to the letter, the borrowing is aimed at bridging the funding gap and ensuring the full implementation of government programmes and projects outlined in the 2025 fiscal plan.

The Senate President referred the proposal to the Senate Committee on Local and Foreign Debt, directing the committee to report back within one week for further legislative consideration.

Court Dismisses Mompha’s No-Case Submission, Orders Him to Enter Defence

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Court Dismisses Mompha’s No-Case Submission, Orders Him to Enter Defence

Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, has dismissed the no-case submission filed by social media personality Ismaila Mustapha, popularly known as Mompha, and his company, Ismalob Global Investment Limited, ruling that a prima facie case has been established against them.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Mompha and his firm for alleged money laundering and operating an unlicensed bureau de change.

In a post on its official X handle, the EFCC said the court found that there was sufficient evidence requiring the defendants to enter a defence.

The case has been adjourned to January 27 and 28, 2026, for continuation of trial.

Mompha’s long-running legal battle has seen several developments since the EFCC first accused him of laundering about ₦32.9 billion, later reducing the charges to an eight-count indictment involving roughly ₦6 billion.

The charges include conspiracy to launder funds, retention of criminal proceeds, and failure to disclose assets.

Mompha was granted bail of ₦200 million in January 2022 but later had it revoked after failing to appear in court, prompting the issuance of a bench warrant and his subsequent declaration as wanted in August 2022.

He was re-arrested in May 2023 with support from international partners. During court proceedings in 2024, it was revealed that more than ₦30 billion, suspected to be proceeds of crime, allegedly passed through his account.

The court also admitted into evidence a report from the U.S. Federal Bureau of Investigation (FBI) alleging that Mompha’s mobile device was used for international financial transactions linked to illicit activities.

Mompha has denied all allegations, accusing the EFCC of using his case for publicity and maintaining that the charges are baseless.

The case remains one of Nigeria’s most high-profile financial crime prosecutions, drawing widespread attention due to Mompha’s celebrity status and extravagant lifestyle.

Court Gives Nnamdi Kanu Deadline to Open Defence or Forfeit Right

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Court Gives Nnamdi Kanu Deadline to Open Defence or Forfeit Right

Justice James Omotosho of the Federal High Court has given Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra (IPOB), until November 5 to open his defence in the terrorism case against him or lose his right to do so.

The judge issued the directive after Kanu failed, for the fourth consecutive day, to begin his defence following the prosecution’s closure of its case and the court’s rejection of his no-case submission.

At Tuesday’s proceedings, Kanu—who is representing himself—told the court that he had not filed the final written address as ordered but had instead submitted a motion and supporting affidavit. He insisted there was “no valid charge known to law” pending against him and demanded to be released immediately.

Prosecuting counsel Adegboyega Awomolo (SAN) challenged the competence of Kanu’s filings and accused the defendant of attempting to delay proceedings. Awomolo urged the court to treat the new filings as Kanu’s final written address and proceed to judgment.

In his ruling, Justice Omotosho held that the documents were properly filed and would be considered during judgment. He noted that since Kanu is not a lawyer, he should be given the opportunity to consult legal counsel.

The case was adjourned to November 5, when Kanu is expected to either open his defence or be deemed to have waived his right to do so.

Germany to Accelerate Visa Processing, Expand Economic and Creative Partnerships With Nigeria — Krull

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Germany to Accelerate Visa Processing, Expand Economic and Creative Partnerships With Nigeria — Krull

Germany’s Consul General in Lagos, Daniel Krull, has announced plans to strengthen relations between Germany and Nigeria through faster visa processing, expanded trade, and enhanced collaboration in education and the creative industries.

Speaking at a press conference on Monday, Krull said the consulate was increasing capacity to serve Nigerians applying for business, study, and travel visas, with the goal of “substantially cutting down waiting times.”

“We are currently processing more than 10,000 visas per year,” he said. “With new counters and additional personnel, we hope to speed up the processing of applications.”

He added that new service providers would soon handle certain visa categories, and a verification system for academic diplomas—first introduced in India—would be adopted to accelerate student visa approvals.

Krull noted that Nigeria remains Germany’s largest trading partner in West Africa, second only to South Africa on the continent, adding that Germany hopes to attract more IT companies to collaborate with Nigerian professionals.

The consul general disclosed that a delegation of German IT firms will visit Nigeria in late November, while representatives from Germany’s movie industry are already in Lagos to explore film production and legal cooperation.

“This is the first outreach from Germany’s movie sector to Nigeria,” he said. “They want to learn how this dynamic industry works and identify opportunities in production quality and equipment.”

He also reaffirmed Germany’s commitment to academic and scientific partnerships, citing a recent workshop in Ogbomoso focused on genomics, health, and climate change.

“We have many strong universities in both countries,” Krull said. “I hope to help foster even closer cooperation.”

Highlighting ongoing cultural collaboration, Krull expressed excitement over the upcoming opening of the Museum of West African Art in Benin City, which Germany supported with a €6 million grant.

On the creative sector, he said Germany aims to help Nigerian creators gain fair access to financing and royalties through global platforms.

“Our biggest support is helping creators gain their royalties by connecting with YouTube, Google, and Netflix,” Krull explained.

Krull further emphasized Germany’s support for renewable energy solutions, noting Siemens’ active role in Nigeria’s power sector.

Addressing migration, he encouraged Nigerians to pursue legal migration routes through education and training, stating that Germany’s aging population requires skilled labor.

“We encourage Nigerians to invest in training rather than risky irregular migration,” he said.

Krull concluded by stressing that Germany prefers a “bottom-up” model of cooperation—starting with partnerships between individuals and private entities before formal government agreements.

“You don’t start with two governments agreeing,” he said. “Once a critical mass of cooperation is achieved, governments can then formalize it.”

He expressed confidence that the growing business and creative exchanges would mark the beginning of a stronger, long-term partnership between both nations.

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