Debt Service Overshadows Key Sectors in 2026 Budget NIGERIA’S proposed 2026 budget has triggered intense scrutiny after figures presented to the Senate Committee on Appropriations revealed that debt servicing will exceed combined spending on critical development sectors. At a budget hearing before lawmakers of the National Assembly of Nigeria, Adetilewa Adebajo, Chief Executive Officer of […]
By OBIOMA TORI AFRICA is facing a record surge in sovereign debt repayments in 2026, with Nigeria, Egypt, South Africa, and Angola accounting for the bulk of the continent’s $90 billion external obligations, according to the latest African Sovereign Ratings Outlook from S&P Global Ratings. The figure represents more than a threefold increase in repayments […]
Electricity Cut at Nigerian Mission THE Mayor of Tshwane Metropolitan Municipality, Nsiphi Moya, has disclosed that the Nigerian High Commission in South Africa was disconnected from electricity supply over unpaid municipal utility bills. The announcement was made on Monday via the mayor’s verified X account, where she confirmed that the diplomatic mission was among defaulters […]