Nigeria’s Public Debt Climbs by N2.04trn in Q1 to N41.6trn FGN's domestic debt service gulped N668,685bn in three Months W’Bank slashes global growth forecast to 2.9% Ndubuisi Francis in Abuja Nigeria’s total public debt stock, comprising the debt obligations of the federal government, states and the Federal Capital Territory
(FCT) rose from N39.56 trillion in December 2021 to N41.60 trillion ($100.07 billion) in the first three months of 2022 (January to March), the Debt Management Office (DMO) revealed yesterday.
In addition, the domestic debt service obligations of the federal government stood at N668,685, 710,112.98 in the first three months of 2022. According to the DMO, with
the increase in the country’s debt profile, its total public debt-to-gross domestic product (GDP) now stands at 23.27 per cent, as against 22.43 per cent December 31, 2021. The DMO, in a statement posted
on its website explained: "The amount represented the domestic and external debt stocks of the Federal Government of Nigeria, the 36 state governments and the Federal Capital Territory. The comparative
figures for December 31, 2021, were N39.56 trillion or $95.78 billion.” The total public debt stock, the agency said, included new domestic Continued on page 48
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In 2023, It's Straight Fight Between Tinubu, Atiku... Page 5
How North Kept Its Word, Pulled Off a Coup Olawale Olaleye The tension that characterised the lead up to the APC presidential primary and the eventual denouement, have made it difficult to gloss over certain takeaways from the
event. For starters, nothing was certain till the time the show started proper and the fluidity of events ushering in the exercise, had created apprehension across the board with everyone on tenterhooks. This was
understandable since APC is the ruling party. Thus, while the fear that the north was not ready to relinquish power was palpable and creating avoidable backlash, the seeming unpredictability of President
Muhammadu Buhari, had further compounded the situation, as much as the perceived hypocrisy of the APC National Chairman, Abdulahi Adamu, became a worry to contend with. But the north proved it was
credible after all, and closed the deal on its honour. This, ironically, was contrary to assumptions about alleged northern predilection for ethnic politics within the context of national growth and development. In 1993, when the late MKO
Abiola, ran against a prominent northern son, Bashir Tofa, the north recognised the contributions of Abiola to their growth as a people and that of the nation in general and Continued on page 48
Tinubu's Search for Running Mate Begins, Who Are the Likely Contenders? Olawale Olaleye The emergence, yesterday, of a former Lagos State Governor, Asiwaju Bola Ahmed Tinubu, as the presidential candidate of the All Progressives Congress (APC), was the first and most important leg in the journey to next year’s presidential bout. That, of course, ushers in the second leg and sets a new challenge for the ruling party, which is the search for a suitable running mate, whose combination could help the party to victory in the 2023 elections. And, since the choice of a running mate is as critical as the candidate itself, to the outcome of a presidential election, it is expected that certain factors would be put into consideration, too, in settling for anyone at all. However, to guide the APC in the choice of its running mate to Tinubu are a few factors, including capacity, education, experience, exposure, political networth, ethnicity and religion. While the APC is certain to go to the north Continued on page 48
Kashim Ibrahim-Imam
Bagudu
El Rufai
Ganduje
Lalong
Ibrahim-Imam
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Badaru
Mustapha
PDP Governors Meet Atiku Over Choice of Running Mate... Page 50