Top 5 Stories of the Day | Nigeria Now Spends Less Than 50% of Revenue on Debt Servicing — Oyedele

• Nigeria now spends less than 50% of revenue on debt servicing — Oyedele
• Retired police officers protest pension scheme, slam IGP
• NLC warns of impending authoritarianism, alleges clampdown on workers’ rights
• Kemi Badenoch faces backlash from Nigerians over anti-immigration remarks
• NBS reveals Nigeria’s economy grew by 3.13% in Q1 2025 after GDP rebasing

Across Nigeria’s 36 states and the Federal Capital Territory, these are the top five Nigerian news stories you shouldn’t miss.

Nigeria now spends less than 50% of revenue on debt servicing — Oyedele

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has revealed that Nigeria now spends less than 50% of its revenue on servicing debt, down from nearly 97% prior to recent economic reforms.

Speaking at PwC’s Executive Summit on Nigeria’s Tax Reform in Lagos on Monday, Oyedele highlighted key improvements in the country’s fiscal health, attributing them to the reform agenda.

He noted that unmet forex futures exceeding $7 billion have been cleared, external reserves have risen from under $4 billion to over $20 billion, and budget deficits are shrinking, allowing more funds to be allocated to infrastructure.

Retired police officers protest pension scheme, slam IGP

Hundreds of retired police officers on Monday took to the streets across Nigeria, including Abuja, to protest their continued inclusion in the Contributory Pension Scheme, describing it as discriminatory and unjust.

During the demonstrations, the officers passed a vote of no confidence on the Inspector General of Police, Kayode Egbetokun, citing the government’s silence on their concerns as deeply frustrating.

In Ilorin, Kwara State, ARPON’s legal adviser, retired SP Adekunle Iwalaiye, warned that the issue could destabilise internal security, stating, “When officers know they will retire into poverty, they stop caring about integrity… You cannot pay a man ₦2.4 million after 35 years and expect him to retire with dignity.”

NLC warns of impending authoritarianism, alleges clampdown on workers’ rights

The Nigeria Labour Congress (NLC) has raised concerns over what it describes as a dangerous slide toward authoritarian rule, warning that Nigeria’s democratic space is shrinking as workers’ rights face sustained attacks.

NLC President Joe Ajaero, speaking at the opening of the 21st Rain School in Uyo on Monday, accused the federal and state governments of stifling free speech, suppressing union activities, and unlawfully seizing workers’ contributions.

He said these actions are part of a broader effort to silence dissent ahead of the 2027 elections, stressing that the clampdown on civic freedoms poses a serious threat to democracy and the welfare of Nigerian workers.

Kemi Badenoch faces backlash from Nigerians over anti-immigration remarks

Nigerians on social media have criticised UK Conservative Party leader Kemi Badenoch following her comments advocating stricter immigration rules to limit Nigerians from acquiring British citizenship.

In a CNN interview on Sunday, Badenoch opposed the idea of immigrants creating a “mini-Nigeria” in the UK, saying such behaviour wouldn’t be tolerated in Nigeria or other countries. “There are many people who come to our country who do things that would not be acceptable in their countries,” she stated.

Her remarks triggered outrage online, with many Nigerians accusing her of repeatedly attacking her country of birth to gain political favour in the UK.

NBS reveals Nigeria’s economy grew by 3.13% in Q1 2025 after GDP rebasing

The National Bureau of Statistics (NBS) has announced that Nigeria’s economy grew by 3.13% in the first quarter of 2025, an improvement from the 2.27% recorded in the same period last year.

In nominal terms, the GDP rose to ₦372.82 trillion, up from ₦205.09 trillion using the new base year of 2019. The previous GDP base year had been 2010.

Speaking at a press briefing, Statistician General of the Federation, Prince Adeyemi Adeniran, said the rebasing exercise also reshuffled sector rankings, with real estate now ranked third, pushing crude oil and natural gas to fifth place.