Nigeria's overall public debt stock reached ₦121.67 trillion (91.46 billion USD) in March, according to the Debt Management Office (DMO).
Patience Oniha, the DMO's director general, announced this in a statement on Friday in Abuja. According to Oniha, the Federal Government, the 36 state governments, and the Federal Capital Territory's (FCT) total debt, both domestic and foreign, made up the debt stock.
She stated that as of March, the total amount of debt was ₦65.65 trillion (46.29 dollars) for domestic debt and ₦56.02 trillion (42.12 billion dollars) for overseas debt. Comparatively speaking, she stated that as of December 2023, the total debt stock was ₦97.34 trillion, or 108.23 billion dollars. According to her, the expansion in the domestic debt component needed to close the 2024 budget deficit and the volatility of the foreign exchange market in the first quarter were the main reasons for the increase in the total debt stock.
Only the domestic debt component of the overall debt stock increased from ₦59.12 trillion on December 31, 2023, to ₦65.75 trillion on March 31, 2024, excluding changes in the value of the Naira during the first quarter of 2024. "The increase came from securitization of a portion of the ₦7.3 trillion Ways and Means advances at the Central Bank of Nigeria (CBN) and new borrowing to partially finance the 2024 budget deficit," the spokesperson stated. She stated that while borrowing will continue as planned in the 2024 budget, increases in government revenue would go a long way toward guaranteeing debt sustainability.
If Argentina were to win a second consecutive Copa América, Lionel Messi has stated that they would need to perform at a higher level and not rest on their laurels. On Thursday in Atlanta, Georgia, the 2022 World Cup winners will play Canada in the opening round of their Copa América championship defense. In Group A, they will also play Chile and Peru. "As we are the current world champions, we can confidently declare that we are the best. However, that does not lead us to think that we will win this Copa América by walking," Messi remarked.
Brazil, Argentina's bitter rivals, will face off in the Copa América against Argentina without their all-time top scorer, Neymar, due to an injury. Their new coach, Dorival Junior, will take over for the team. They have only won two of their World Cup qualifying matches and fell to Croatia in the World Cup quarterfinals on penalties. "They have a million players, so, unfortunately, Neymar isn't playing," Messi remarked. Brazil usually has a large number of players since they keep getting better. Their squad is very competitive and very strong. Brazil is a candidate for the Copa América, much like Argentina is.
Messi, 36, stated he is not considering his future and only wants to enjoy the Copa América, which will be held in the United States. The Inter Miami forward remarked, "I cherish every moment [with the squad] because I know that there isn't much time left before everything ends and that I will somehow miss all of that."
The fact is that leaving European football behind to come to the United States was a really difficult decision for me at first, but after I arrived, I soon adjusted and learned to live in the moment. I still feel good today, I feel like I can compete, I can keep training, I take care of myself as much as I always have, or maybe more, and I live in the moment. I don't think about the future right now.
Odumodublvck, a controversial rapper, asserted that Tems and Ayra Starr have contributed more to the Nigerian music scene than Afrobeat pioneer Fela Anikulapo-Kuti and Afrobeats megastars Burna Boy and Wizkid.
Being a successful female artist is the hardest job in the world, in his opinion. Odumodublvck was mentioned in a recent Madame Joyce-hosted podcast called "Cocktails & Takeaways."
"I was traveling to London on the same flight as Don Awon, Tems' manager," he remarked. Big ups, you did it, Tems, I told him. The combined efforts of you and Ayra Starr surpass the accomplishments of Wizkid, Burna Boy, and even Fela. Anywhere you quote me, please. As a female artist, you should know that five out of ten show promoters, five out of ten producers, and five out of ten artists you look up to and depend on for support want to have sex with you. I couldn't fathom being in that circumstance. And you still produce quality music despite avoiding all of those things. Recall that being a woman is the hardest job in the world. With over 100 million artists worldwide, being an artist is the second hardest job in the world. With dozens of songs released every day, how will you stand out from the crowd? Why ought they to pay attention to yours?
It's not as though you work for a job where your compensation is assured. There is never a guarantee of remuneration for artists; you have to produce their work to get paid. My first cheque that was in good order took me roughly six years. Imagine, then, that you may succeed while being both a hottie and an artist. That is quite remarkable. The albums "The Year I Turned 21" by Ayra Starr and "Born In The Wild" by Tems were just released.
Born in the Wild, which peaked at number 56, became the highest-peaking album by a female Nigerian singer, while The Year I Turned 21 became the first album by a female Nigerian artist to debut on the US Billboard 200.
Prepare to be transported to 18th-century Nigeria when the biopic "House of Ga'a," directed by Bolanle Austen-Peters, debuts on Netflix on July 26.
In "House of Ga'a," the story of Bashorun Ga'a, a cunning kingmaker who used voodoo and trickery to gain power before his blood brought him to an end, is told. Mike Afolarin, Funke Akindele, Femi Branch, Toyin Abraham, Ibrahim Chatta, Dele Odule, Bimbo Manuel, Lateef Adedimeji, Femi Adebayo, Gabriel Afolayan, Jide “JBlaze” Oyegbile, Seun Akindele, Yemi Blaq, Adeniyi Johnson, Muyiwa Ademola, Willam Benson, Gbenga Titiloye, and Kunle Coker are among the renowned actors in the ensemble.
Legal expert Tolu Babaleye has provided arguments for why the 33 Local Council Development Areas (LCDAs) were established illegally and against the constitution by the Ondo State High Court in Akure.
Adegboyega Adebusoye, the sitting judge, declared that LCDAs were not legitimately established. It was signed by the former governor of Ondo State, Rotimi Akeredolu, nine months ago, the day he returned from a three-month medical leave. Babaleye stated shortly after the court's decision that the 33 Local Council Development Areas in the state were void since they were signed outside of the state and that the court ruled that the construction of the LCDAs was unlawful.
Babaleye stated on Channels "The law that was made by the House of Assembly was signed outside the shore of Ondo State, and the court did what I call 'judicial tsunami' and hacked down that law." "The 33 municipal governments came to an end as a result. The title of the law that created it is "Ondo State Creation of Local Government Law 2023," notwithstanding the governor's attempts to claim that it was not local government but rather LCDA.
It is quite evident that the legislators intended to establish a local government. The lawyer claims that Section 8 (1 to 5) of the country's constitution lays out the prerequisites in detail for establishing local government. He claimed the court argued that the governor ought not to have signed the measure out of state, explaining that the constitution was not adhered to in the founding of the LCDAs the previous year.
In collaboration with Jeff Bezos' space exploration business Blue Origin, an American space venture has started the process of sending the first Nigerian astronaut into space. A US for-profit organization called Space Exploration and Research Agency (SERA) is working to expand flying opportunities for inhabitants of nations with minimal or no space footprint. The first significant achievement was sending Brazil's second astronaut into space in June 2022. On a future Blue Origin New Shepard trip, which is SERA's next mission, six passengers will travel into space, with one seat assured to a Nigerian.
The Nigerian for the mission would be chosen through a public online vote procedure, Sam Hutchison and Joshua Skurla, co-founders of SERA, informed Semafor Africa. Any adult resident in good health who can communicate in basic English is eligible to nominate themselves for the mission. To increase their prospects, they will have to ask people to cast their votes. The creators indicated that a blockchain mechanism will be used to verify votes to guarantee an impartial selection process.
Because Nigeria is "an emerging space nation" that is still developing its goals, SERA decided to include it in its upcoming mission, according to Skurla. Nigeria benefited from being one of Africa's biggest nations as well as having a robust media landscape, he claimed.
On Wednesday, the business and Nigeria's National Orbit Research and Development Agency inked a partnership agreement to expand the opportunity and work together on science experiments that the mission crew will carry out in orbit. Speaking on the SERA alliance, Uche Godfrey Nnaji, Nigeria's minister of innovation and research, stated that human spaceflight was a "major objective" rather than a "random aspiration."
Nigeria has launched six satellites since 2003, but Hutchison noted that there are opportunities for further commercial involvement in the new space age, which is characterized by ambitious efforts by developing nations like India. The mission that will send a Nigerian into space, according to Phil Joyce, a senior vice president at Blue Origin who is in charge of the New Shepard program, will “inspire the next generation of space explorers.”
Reports that the Nigeria Football Federation has barred Napoli striker Victor Osimhen from representing the Super Eagles have been refuted. On Wednesday, a few internet publications announced Osimhen's expulsion from the national team. Mohammed Sanusi, the general secretary of the NFF, declared that the football organization has not taken any action to prohibit the strong forward.
On Wednesday, a few internet publications announced Osimhen's expulsion from the national team. Mohammed Sanusi, the general secretary of the NFF, declared that the football organization has not taken any action to prohibit the strong forward.
The NFF hereby begs the media to work with the organization to constructively settle conflicts and then constantly concentrate on the larger picture, instead of needlessly exacerbating specific concerns. Despite the lack of an official statement from the NFF, some people have traveled to the city to discuss banning Osimhen from the national squad. He told thenff.com, "This is not good at all. "This is not the time to spread falsehoods and further contaminate the public space. Our focus is currently on finding a solution to all issues surrounding the Super Eagles and being able to confidently look forward to the 2025 AFCON qualifiers and the remaining six matches of the 2026 FIFA World Cup qualification series."
To improve its operational efficacy, the Nigerian Army (NA) has taken delivery of its first batch of modern aircraft, BELL UH 1-H. The relationship with respectable companies in the defense and security sectors to acquire the necessary platforms and equipment for the army comes before acquiring the aircraft. I think I'm attractive and well-groomed, and I avoid looking in the mirror to avoid thinking negatively. 0:07 and 1:07 This has been a major turning point in the Nigerian Army Aviation's ability to support ground operations from the air. The Nigerian Army received the two aircraft, BELL UH 1-H, at a solemn ceremony at the Nnamdi Azikiwe International Airport in Abuja.
Upon receiving the aircraft, Lieutenant General Taoreed Lagbaja, the Chief of Army Staff (COAS), stated that the acquisition of the BELL UH 1-H aircraft is a component of the Federal Government's continuous endeavors to strengthen the defense capabilities and operational efficacy of the Nigerian armed forces. Lt Gen Taoreed Lagbaja, who took delivery of these platforms today in Abuja, promised to modernize the NA's aviation portfolio and staff and integrate sophisticated training and unmanned operations in various ways across the fleet. To provide pilots with more distance from hostile threats, the Nigerian Army is now establishing its aviation division to purchase updated manned helicopters for autonomous platforms by organizations like Textron Aerosonde UAS and Ziyan UAS Blowfish.
The 73-year-old British billionaire Sir Richard Branson has revealed his plan for passing down Virgin Atlantic to his children, Sam, Holly, Ryan, and Richard. Even though he is 73 years old and well past retirement age, risk-taking businessman Sir Richard Branson doesn't appear to be slowing down. Even so, it seems that the CEO of Virgin Group is organizing his affairs to make sure that his family retains ownership of Virgin Atlantic long after he passes away. The 73-year-old Branson said in an interview with the Times of London that he is one of several senior CEOs going through succession planning as part of the multibillion-dollar wealth transfer that will take place over the next 30 years.
Branson intends to give his 39-year-old son Sam and his 42-year-old daughter Holly the airline's keys as part of that transfer. Branson told The Times, "I plan to keep it in the family and they plan to keep it in the family." The Virgin Group, Branson's parent company, owns 51% of Virgin Atlantic and is in charge of its media and transportation businesses. The remaining shares are owned by Delta Airlines.
Sam serves as an informal advisor to his father's company, Virgin Group, while Holly serves as the company's chief purpose and vision officer. In 2019, Shai Weiss, a veteran of the Virgin Group, became the CEO of Virgin Atlantic. The subject of who will lead Branson's multibillion-dollar corporate empire has gradually made its way into his interview talking points over the years. In 2023, he told the BBC, "As a family, we have serious discussions about how the company can transform hopefully thousands of people's lives in the years to come and hopefully in the centuries to come."
With a fleet of 41 aircraft, Virgin Atlantic set a record in 2023 with revenues of £3.1 billion ($3.9 billion), which resulted in earnings of £352 million ($447 million). The airline needed a bailout following the COVID-19 epidemic, but it overcame a few setbacks to settle in a more secure financial position. As he approaches retirement, Branson is not just paying more attention to his legacy but also becoming more cautious with his riches.