/ Jul 03, 2026
/ Jul 03, 2026

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World Bank says Nigeria’s fiscal problem is revenue, not debt

The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue generation rather than rising debt levels.   Speaking in an interview on Channels Television, Mathew Verghis, the World Bank’s country director for Nigeria, said the country’s debt burden remains moderate by international standards. According to Verghis, Nigeria’s core problem is low revenue mobilisation, which limits the government’s ability to fund development and repay obligations. “From our assessment, Nigeria doesn’t have a high indebtedness problem, it has a low revenue problem,” he said. He explained that Nigeria’s debt-to-economy ratio is lower than that of many comparable countries, stressing that the country should not be grouped with nations facing debt distress. Verghis cited Ghana as an example of a country dealing with debt restructuring, noting that Nigeria’s situation is significantly different. He said borrowing remains necessary for countries seeking to invest in long-term development projects, especially those that deliver future economic returns. According to him, governments often rely on debt financing to fund major infrastructure projects, improve public services and stimulate economic growth. Verghis pointed to the urgent need for improved energy access, noting that connecting millions of Nigerians to electricity would require substantial investment. He said providing energy access to about 32 million Nigerians would involve significant borrowing but would ultimately strengthen economic productivity and improve repayment capacity. The World Bank official warned that unless Nigeria significantly improves revenue collection, the country could struggle to meet future debt obligations despite its moderate debt profile. He added that stronger revenue generation would allow the government to invest more in infrastructure, healthcare, agriculture and digital connectivity while supporting job creation and poverty reduction. The comments follow the World Bank’s recent six-year country partnership framework for Nigeria, which places job creation at the centre of support through strategic investments in key sectors.
Nigerian Air Force C-130H aircraft airlifting troops for ECOWAS peacekeeping mission to The Gambia.

NAF deploys 198 troops to Gambia for ECOWAS peace mission

The Nigerian Air Force has confirmed the successful airlift of 198 Nigerian troops to The Gambia as part of Nigeria’s contribution to the ECOWAS Mission in The Gambia.   According to a report by Punch Newspapers, the deployment was carried out in May 2026 using a NAF C-130H aircraft in two sorties between May 26 and May 30. The operation involved personnel of Nigerian Company 11 (NIGCOY 11), who were deployed to assume operational duties under the regional peacekeeping mission. The exercise also facilitated the rotation of Nigerian Company 10, alongside the movement of operational equipment and troops’ personal belongings. In a statement released on Friday, the Air Force said the mission underscored its growing strategic airlift capability and readiness to support peacekeeping and regional security operations across West Africa. The service noted that the successful deployment reflected its ability to project responsive air power beyond Nigeria’s borders, enabling rapid force deployment in support of peace, security and stability within the ECOWAS sub-region. Speaking on the mission, the Chief of the Air Staff, Air Marshal Sunday Aneke, said air power remains vital in tackling evolving security challenges across the region. He said every successful airlift mission strengthens Nigeria’s ability to protect national interests, support regional stability and maintain a mission-ready force capable of decisive response when needed. The Air Force added that the deployment aligns with its broader vision of building a highly motivated, professional and mission-ready force that can deliver effective air power in synergy with ground forces. Nigeria has remained one of the largest contributors to the ECOWAS mission in The Gambia since the force was deployed in 2017 following the political crisis triggered after former Gambian President Yahya Jammeh refused to concede defeat in the 2016 election. The ECOWAS mission was established to support democratic transition, maintain security and assist with security sector reforms in The Gambia.
Delta State Governor Sheriff Oborevwori announces 13th-month salary approval and teacher recruitment plans for civil servants and public schools.

Delta approves 13th-month salary for workers

The Delta State Government has approved the institutionalisation of a 13th-month salary for civil servants and announced plans to recruit more teachers for public secondary schools, in a move aimed at improving workers’ welfare and strengthening education delivery.   The decision was reached during the State Executive Council meeting chaired by Sheriff Oborevwori and disclosed on Friday. According to PUNCH, the Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, said the council approved a memo presented by the governor to make the 13th-month salary a permanent statutory benefit for workers in the state. Aniagwu explained that the approval clears the way for an executive bill to be sent to the Delta State House of Assembly for legislative backing. Once passed into law, the payment will become a legal entitlement for civil servants and will no longer depend on the discretion of future administrations. He said the move ensures workers continue to enjoy the benefit beyond the tenure of the current administration. The council also raised concerns over the shortage of teachers in public secondary schools, particularly in science-related subjects, and directed the Ministry of Secondary Education to prepare a memo detailing the number of teachers required. Aniagwu said the council had given approval in principle for the recruitment of additional teachers to address the manpower gap and improve the quality of education in public schools. Beyond education and workers’ welfare, the Executive Council approved the procurement and installation of equipment for the Technical College in Oghareki, located in Ethiope West Local Government Area. Plans are also in place to equip the Technical College in Irri after its completion. The government said the approvals reflect its commitment to revitalising technical education and equipping young people with practical skills for employment and entrepreneurship. The council also approved several matters relating to the health and transport sectors, including new transport routes across the state. In addition, the appointment of HRM Goodnews Goodman Agbi, Athuaro I, as the Ovie of Oyede Kingdom in Isoko North Local Government Area was approved. The Delta government said the decisions underscore its broader commitment to workers’ welfare, quality education, healthcare delivery and improved public service across the state.
US President Donald Trump speaks during a White House press briefing while announcing new immigration measures affecting green card applicants.

Trump opens US 250th Independence celebrations at mount Rushmore

United States President Donald Trump is set to kick off America’s 250th Independence Day celebrations with a high-profile visit to Mount Rushmore on Friday, ahead of July 4 festivities marking the nation’s historic milestone.   According to AFP, as published by Punch Newspapers, Trump will deliver a speech beneath the iconic granite monument featuring former US presidents George Washington, Thomas Jefferson, Abraham Lincoln and Theodore Roosevelt. The visit marks the beginning of a weekend packed with patriotic displays, including a campaign-style rally on the National Mall in Washington, military jet flyovers and a large fireworks show. Trump’s appearance comes amid deep political divisions in the United States. His approval ratings have reportedly remained low, driven by concerns over the Iran conflict, rising living costs and criticism from Democrats over immigration and executive power. Speaking on a podcast hosted by second lady Usha Vance, Trump acknowledged the country’s political tensions but expressed confidence about America’s direction. He said the country was at a critical point but insisted it would move in the right direction. Efforts to make the US 250th anniversary a major national celebration have also faced setbacks. A Trump-linked organisation, Freedom 250, has reportedly taken control of several events from the bipartisan America250 group, leading to criticism and reduced attendance at some festivities. A “Great American State Fair” in Washington has also drawn sparse crowds, worsened by an intense heat wave that has discouraged visitors. Despite forecasts of temperatures reaching 41C on July 4, Trump said he remains unfazed and intends to deliver what he described as a lengthy speech. The anniversary comes as many Americans reflect on the country’s history and future. A recent Quinnipiac University poll found that 61 per cent of Americans believe the US is not fully living up to the ideals of the Declaration of Independence, highlighting sharp political divisions. Still, many citizens continue to view Independence Day as a moment of national celebration despite growing political tensions.

Must Read

World Bank says Nigeria’s fiscal problem is revenue, not debt

The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue generation rather than rising debt levels.   Speaking in an interview on Channels Television, Mathew Verghis, the World Bank’s country director for Nigeria, said the country’s debt burden remains moderate by international standards. According to Verghis, Nigeria’s core problem is low revenue mobilisation, which limits the government’s ability to fund development and repay obligations. “From our assessment, Nigeria doesn’t have a high indebtedness problem, it has a low revenue problem,” he said. He explained that Nigeria’s debt-to-economy ratio is lower than that of many comparable countries, stressing that the country should not be grouped with nations facing debt distress. Verghis cited Ghana as an example of a country dealing with debt restructuring, noting that Nigeria’s situation is significantly different. He said borrowing remains necessary for countries seeking to invest in long-term development projects, especially those that deliver future economic returns. According to him, governments often rely on debt financing to fund major infrastructure projects, improve public services and stimulate economic growth. Verghis pointed to the urgent need for improved energy access, noting that connecting millions of Nigerians to electricity would require substantial investment. He said providing energy access to about 32 million Nigerians would involve significant borrowing but would ultimately strengthen economic productivity and improve repayment capacity. The World Bank official warned that unless Nigeria significantly improves revenue collection, the country could struggle to meet future debt obligations despite its moderate debt profile. He added that stronger revenue generation would allow the government to invest more in infrastructure, healthcare, agriculture and digital connectivity while supporting job creation and poverty reduction. The comments follow the World Bank’s recent six-year country partnership framework for Nigeria, which places job creation at the centre of support through strategic investments in key sectors.
Read more

World Bank says Nigeria’s fiscal problem is revenue, not debt

The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue generation rather than rising debt levels.   Speaking in an interview on Channels Television, Mathew Verghis, the World Bank’s country director for Nigeria, said the country’s debt burden remains moderate by international standards. According to Verghis, Nigeria’s core problem is low revenue mobilisation, which limits the government’s ability to fund development and repay obligations. “From our assessment, Nigeria doesn’t have a high indebtedness problem, it has a low revenue problem,” he said. He explained that Nigeria’s debt-to-economy ratio is lower than that of many comparable countries, stressing that the country should not be grouped with nations facing debt distress. Verghis cited Ghana as an example of a country dealing with debt restructuring, noting that Nigeria’s situation is significantly different. He said borrowing remains necessary for countries seeking to invest in long-term development projects, especially those that deliver future economic returns. According to him, governments often rely on debt financing to fund major infrastructure projects, improve public services and stimulate economic growth. Verghis pointed to the urgent need for improved energy access, noting that connecting millions of Nigerians to electricity would require substantial investment. He said providing energy access to about 32 million Nigerians would involve significant borrowing but would ultimately strengthen economic productivity and improve repayment capacity. The World Bank official warned that unless Nigeria significantly improves revenue collection, the country could struggle to meet future debt obligations despite its moderate debt profile. He added that stronger revenue generation would allow the government to invest more in infrastructure, healthcare, agriculture and digital connectivity while supporting job creation and poverty reduction. The comments follow the World Bank’s recent six-year country partnership framework for Nigeria, which places job creation at the centre of support through strategic investments in key sectors.
Nigerian Air Force C-130H aircraft airlifting troops for ECOWAS peacekeeping mission to The Gambia.

NAF deploys 198 troops to Gambia for ECOWAS peace mission

The Nigerian Air Force has confirmed the successful airlift of 198 Nigerian troops to The Gambia as part of Nigeria’s contribution to the ECOWAS Mission in The Gambia.   According to a report by Punch Newspapers, the deployment was carried out in May 2026 using a NAF C-130H aircraft in two sorties between May 26 and May 30. The operation involved personnel of Nigerian Company 11 (NIGCOY 11), who were deployed to assume operational duties under the regional peacekeeping mission. The exercise also facilitated the rotation of Nigerian Company 10, alongside the movement of operational equipment and troops’ personal belongings. In a statement released on Friday, the Air Force said the mission underscored its growing strategic airlift capability and readiness to support peacekeeping and regional security operations across West Africa. The service noted that the successful deployment reflected its ability to project responsive air power beyond Nigeria’s borders, enabling rapid force deployment in support of peace, security and stability within the ECOWAS sub-region. Speaking on the mission, the Chief of the Air Staff, Air Marshal Sunday Aneke, said air power remains vital in tackling evolving security challenges across the region. He said every successful airlift mission strengthens Nigeria’s ability to protect national interests, support regional stability and maintain a mission-ready force capable of decisive response when needed. The Air Force added that the deployment aligns with its broader vision of building a highly motivated, professional and mission-ready force that can deliver effective air power in synergy with ground forces. Nigeria has remained one of the largest contributors to the ECOWAS mission in The Gambia since the force was deployed in 2017 following the political crisis triggered after former Gambian President Yahya Jammeh refused to concede defeat in the 2016 election. The ECOWAS mission was established to support democratic transition, maintain security and assist with security sector reforms in The Gambia.

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