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Senate Approves $1.5b, €995m External Loans For Buhari

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BREAKING: Senate Ignores Protests, Court Injunction, Confirms Onochie, Other NDDC Board Nominees

President Muhammadu Buhari on Wednesday got the approval of the Senate for $1.5 billion and €995 million external loans.
The approval came after the consideration of the report of the Senate Committee on Local and Foreign Debts presented by its chairman, Clifford Ordia.

President Buhari had in May 2020, sent a letter to the Senate asking for its approval for another round of external loans to enable the administration to finance the 2020 budget deficit, projects and support some states of the federation.

The Federal Government said the loans would be used to execute priority projects and support state governments in stimulating their economy, adversely hit by the COVID-19 pandemic.

In his presentation, Mr Ordia noted that the borrowings were largely conscessional loans with low interest rates and a reasonable moratorium and payback period.

“No unusual or onerous conditions attached and the terms of the loans and do not in any manner, compromise the sustainability of the Nigerian economy or impugn the integrity and independence of Nigeria as a sovereign nation,” he said.

“The loan is in the immediate best interest of the Nigerian State and its citizens in dealing with the COVID-19 pandemic in a way that the economy will be positioned for quick recovery and resume growth.

“While Nigeria’s Total Public Debt Stock is on the increase, it is still relatively low vis-a-vis the country’s GDP and the increased borrowing requirements is needed to sustain the economic recovery,” he added.

READ ALSO: LAUTECH VC Seeks Justice On ‘Step Aside’ Directive

The approved loans are as follows: $750 million from the World Bank for States, Fiscal Transparency, Accountability and Sustainability (SFTAS) programme to provide fiscal support to states.

Others are: World Bank’s $750 million for the COVID-19 Action Recovery and economic stimulus programme to support state level efforts to protect livelihoods, ensure food security and stimulate economic activity (N-CARES).

€671 million, €324 million and €995 million from the Export-Import Bank of Brazil (BNDES) & Deutsche Bank of Germany for the Green Imperative to enhance mechanisation of Agriculture and agro progressing in Nigeria (GIP), bringing the total approved loans to $1,500,000,000 and €995,000,000.

The panel added that the financing for the GIP, additional financing for SFTAS and CARES were being sourced from multilateral and bilateral global lenders – and partners with proven track record of previous financial accommodation and support to Nigeria.

Nigeria’s debt profile has been on the rise over the years. And besides borrowing to fund the budget and boost economy, the country plans to sell some national assets to raise funds. Nigeria is also looking to borrow money from dormant bank accounts as well.

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BREAKING: Ex-presidential Spokesperson Okupe Dies

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Doyin Okupe

A former presidential spokesperson Dr Doyin Okupe is dead . He was 71 years old.

Okupe’s death was confirmed by family sources.

He served as a senior adviser to former President Goodluck Jonathan and later as the Director-General of Peter Obi’s 2023 Presidential Campaign.

In December 2022, he stepped down from Obi’s campaign after a money laundering conviction.

He later resigned from the Labour Party after the 2023 general elections.

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BREAKING: Senate Suspends Natasha Akpoti-Uduaghan Over Sexual Harassment Claim

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Natasha Akpoti-Uduaghan

The Senate  on Thursday suspended Senator Natasha Akpoti-Uduaghen for six months for violation of the Red Chambers rules following her allegation of sexual harassment.

Her suspension followed her dispute with Senate President Godswill Akpabio who she accused of sexual harassment.

“That the Senate do suspend Senator Natasha Akpoti-Uduaghan for six months for her total violation of the Senate Standing Rules (2023 as amended for bringing the presiding officer and the entire Nigerian Senate to public opprobrium,” Senate President Godswill Akpabio said on Thursday while reading out the recommendations of the Committee on Ethics, Privileges, and Code of Conduct probing her claims.

Despite efforts by some senators to reduce the suspension period to three months, the Senate, in a majority vote, sustained the initial decision

However, the lawmakers ruled that the suspension could be lifted or reduced if she tenders a written apology.

“For the Senate to consider lifting this suspension or reducing the tenure of the suspension, Senator Natasha Akpoti-Uduaghan shall submit a written apology to the Senate before her reconsideration by the Nigerian Senate,” Akpabio said at the Red Chambers on Thursday.

It, however, agreed that her aides’ salaries be paid.

“The aides of Natasha are not Natasha,” Senator Orji Kalu said while calling for an amendment to the sanctions. “It would be wrong for this Senate to deprive these aides of their allowances.”

Following her suspension, the Kogi Central lawmaker was escorted out of the chambers by the Sergeant-At-Arms, but before she left she declared that “this injustice would not be sustained”.

Her suspension was recommended by the committee which found her guilty of a violation of the Senate’s rules after its investigation.

The Peoples Democratic Party (PDP) lawmaker’s suspension is the culmination of weeks of claims and counter-claims between her, Akpabio, and the Senate.

This controversy began on February 20, 2025, after a seating arrangement dispute with Senator Akpabio. Thereafter, Senator Natasha accused the Senate president of sexual harassment and alleged abuse of office.

She submitted a petition on the floor of the upper lawmaking body on Wednesday. But the Senate Committee on Public Conduct, Ethics, Privileges, and Public Petitions headed by Neda Imaseun (Edo South) dismissed her claims. It declared her petition “dead on arrival,” owing to what it described as a breach of due process and legal limitations.

According to the committee, the senator personally signed the petition, instead of getting someone else’s endorsement, thus rendering it “invalid”.

Senator Natasha, hours after that, re-submitted her petition. However, on the same day, the Imasuen-led committee recommended her suspension for the violation of the Senate rule, a move ratified by the Red Chambers.

It recommended, in addition to her six-month suspension, the locking of the Kogi Central lawmaker’s office; barring her from the National Assembly during the suspension, and stopping her salary and that of her legislative aides.

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How Ex-immigration Boss Died

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David Shikfu Parradang

The police in the Federal Capital Territory have faulted a report that former Comptroller General of the Nigerian Immigration Service (NIS), Mr. David Shikfu Parradang, was kidnapped and killed.

Instead, the police confirmed that he was found dead in a chair inside his hotel room in Abuja after receiving a female guest.

Parradang was discovered dead a day after checking into the Joy House Hotel, Area 3 Junction, by a concerned friend, a military officer, who arrived with hotel staff to check on him.

In an official statement titled, “FCT Police Respond to Misreported Death of Retired Comptroller General David Parradang,” issued by SP Josephine Adeh, PPRO, the police provided details of the incident, emphasizing that there was no case of kidnapping or assassination.

“On March 3, 2025, at approximately 12:00 PM, Mr. Parradang arrived at Joy House Hotel, Area 3 Junction, driving a black Mercedes Benz. He checked into the hotel, paying ₦22,000 for a one-night stay.

Shortly after checking in, he requested that a hotel attendant escort a female guest to his room. The lady left the hotel premises around 4:00 PM on the same day.

Mr. Parradang did not leave his room afterward. Around 4:00 AM on March 4, 2025, a friend, who is a military officer, concerned about his wellbeing, traced him to the hotel.

Upon arrival, the hotel receptionist and the officer proceeded to his room, where they found Mr. Parradang deceased, seated in a chair.

The Durumi Police Station was notified, and officers quickly arrived at the scene to secure the area, take photographs, and collect relevant evidence to preserve the integrity of the investigation.

His body has been transferred to the National Hospital for further examination, while hotel staff are cooperating with police investigations.

The police also confirmed that efforts are ongoing to locate and arrest the female guest who last visited him.

The FCT Police Command has urged the public and media to avoid spreading unverified reports suggesting that the former NIS boss was kidnapped or assassinated.

“We urge the public and media outlets to refrain from spreading unverified information, including claims of kidnapping, that may incite fear or panic.

“The FCT Police Command is committed to conducting a thorough investigation to uncover the circumstances surrounding Mr. Parradang’s death and ensure justice is served.”

The police said that updates would be provided as the investigation progresses.

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