General News
DMO harps on increased revenue drive to reduce borrowings

The Debt Management Office (DMO) has stressed the need for the Federal Government to increase revenue drive to reduce the country’s debt profile and reduce fresh borrowing.
The Director General, DMO, Ms Patience Oniha, said this during a virtual interactive session tagged: “Nigeria moving beyond COVID-19; Opportunities for investors” organised by Coronation Merchant Bank (MB) on Tuesday in Lagos.
Oniha said that government needs to prioritise and invest heavily on sectors capable of generating increased revenue such as agriculture, mining and ICT to grow the economy.
According to her, sectors with robust revenue drivers are better positioned to respond to the risks associated with any transformation and to the urgency created by disruptive events.
Oniha said that the country’s debt profile had been on the increase because of the impact of revenue crash and the crises trailing the coronavirus pandemic on the economy.
She argued that the rate of borrowing had started declining until COVID-19 crisis forced Nigeria, like many other nations, to increase its borrowing in order to stimulate the economy and create more jobs for the people.
“To increase the level of revenue, and the DMO is very much in support of that; if we grow revenues, then debt service will be lower and debt will be sustainable, but it also means that we may not need to borrow that much.
“The second point which we have put forward to the government is that it cannot finance the projects like it used to.
“Our position for debt sustainability is to grow revenues and begin to work with the private sector to finance capital projects, and that way, the only thing that might increase is the off balance sheet liabilities in terms of guarantees and not on balance sheet borrowing,” Oniha said.
On whether the country will return to the Eurobond market after successful issuances, Oniha said, “We do have 6.18 billion dollars to raise for the 2021 budget but our transaction advisers told us to do 4 billion dollars.
“We were looking to go back at
some point but within one week of pricing, the market headed south and is still in that situation right now.
“Omicron came, Evergrand had some challenges in the market and so it is not exactly good for us to go back, and I can say for this year, we are not approaching the market, but if we do not get the money from the ICM, we can get it from another source.”
“We borrowed more because of the COVID-19 pandemic to provide palliatives, build a vibrant health sector and embark on activities that can create jobs because a lot of people lost their jobs due to the pandemic,” she said.
Oniha admitted that the nation’s growing insecurity poses a threat to investment inflow.
Also speaking, the Managing Director and Chief Executive of FMDQ, Mr Bola Onadele, said government needs to deploy large proportion of its borrowing into the productive sector to stimulate growth.
Onadele said: “Debt is sustainable when a country has the ability and size to meet current and future payment obligation without external assistance and default.
“Debt that is not sustainable has a negative consequence on investment.
“It is important that any country trying to borrow should have a pay back structure because investors in the global market look at capabilities to pay back to see if the country is within the purview of debt to service ratio,” he said.
The Managing Director, Commercio partners Ltd., Mr Steve Osho, said investors consider macro economics and ratings of countries and subnational in determining whether to invest into the country.
Osho said: “In Nigeria, Debt Service to GDP is 90 per cent. What it means is that as you generate N100, N90 is used to service debt and this will definitely affect credit rating. This is a source of concern.”
General News
Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift

…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”
The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.
In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”
Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.
The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).
The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).
“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.
General News
Anglican Church Urges Government To Prioritize Citizen Welfare

The Primate of the Church of Nigeria Anglican Communion, Most Reverend Henry Ndukuba, has called on political leaders to prioritize the welfare of citizens.
During a recent church service in Abuja, Ndukuba noted that many Nigerians are struggling with challenges brought on by the global economic downturn. He urged state and local governments to implement new initiatives to lessen the impact on their communities.
The Primate also stressed that the federal government must effectively monitor its programs to ensure that Nigerians fully benefit from the nation’s democratic gains. He argued that if the current administration can effectively tackle corruption, the country would significantly benefit from the economic policies of President Tinubu’s government.
Ndukuba concluded by asking the congregation to continue praying for those in authority, remain committed to national unity, and show love and support for the less privileged. He also tasked the newly inducted members of the Church Mothers’ Guild with aggressively spreading the gospel.
General News
Hardship: A Veil Of Sorcery And Darkness Over Nigeria – Pastor Enenche”

Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, has expressed deep concern about the current situation in Nigeria.
Enenche stated that the nation is under an evil spell due to the economic hardship affecting the country. He described Nigeria as being covered by a “blanket of sorcery and darkness,” leading many citizens to endure poverty and hardship in silence.
“There’s a blanket of sorcery and darkness over this nation—an evil spell making people tolerate what should provoke outrage,” he wrote.
In a post on his official X account on Thursday, the cleric highlighted the economic struggles faced by many Nigerians, noting that an increasing number of church members now line up after services not for spiritual counselling or prayer, but to help with basic needs such as rent, school fees, food, and medical bills.
“People are suffering. Pastors are exhausted. Members now queue after service not for prayer, but for assistance,” he lamented.
He also criticised political leaders for their insensitivity and failure to address the dire situation across the country.
“Yet, the leaders act as though nothing is wrong. This is not normal—it is witchcraft. It is a spell of patience in captivity, leading to a demonic tolerance of suffering.”
Calling for divine intervention, Enenche declared, “Let every evil spell over this land be broken! Let those misruling with arrogance and mocking the people’s pain face divine judgment. They shall not see the celebration of their wickedness.”