By Tony Obiechina, Abuja

Africa’s external debt is projected to reach $1.

29trn by 2028 as Nigeria was listed among the ten African nations accounting for 69 percent of the continent’s total external debt, according to a recent report by Afreximbank Research.

The report, titled ‘African Debt Outlook: A Ray of Optimism’ and released in February 2024, underscores the persistent debt challenges facing African nations while highlighting potential strategies for economic stabilization.

It revealed that in the first half of 2024, ten African nations collectively held 69 per cent of the continent’s total external debt stock, an increase from 67 per cent in 2023.

Nigeria alone accounts for eight per cent of Africa’s total external debt, making it one of the largest debt holders on the continent. Other countries with significant external debt burdens include South Africa (14 per cent), Egypt (13 per cent), Morocco (six per cent), Mozambique (six per cent), Angola (five per cent), Kenya (four per cent), Ghana (four per cent), Côte d’Ivoire (three per cent), and Senegal (three per cent).

The report attributed the rise in Africa’s external debt to limited development in domestic financial markets, high interest rates, and an increasing demand for foreign exchange to finance imports.

Additionally, reliance on aid, concessional loans from multilateral institutions, and competitive credit rates from private lenders have compounded the debt burden.

Since 2008, Africa’s external debt has surged significantly, reaching approximately $1.16trn by 2023, which represents 60 per cent of the region’s total public debt.

Projections suggest a modest increase to $1.17trn in 2024, with a continued upward trajectory expected to push the figure to $1.29trn by 2028.

This growth is largely driven by rising financing needs, fueled by rapid population expansion and economic development requirements.

According to Nigeria’s Debt Management Office (DMO), the country’s total public debt climbed to N142.3trn as of September 30, 2024, reflecting a 5.97 per cent increase (N8.02trn) from N134.3trn in June 2024.

Debt servicing in the first three quarters of 2024 exceeded N7trn, driven by increased obligations to multilateral and bilateral creditors, as well as significant interest payments on commercial loans.

Despite its debt burden, Nigeria has continued to leverage international capital markets to finance its fiscal needs.

 In December 2024, the country issued a $2.2bn Eurobond, with expectations of further issuances as global interest rates decline.

However, the report cautioned that while lower rates may ease immediate fiscal pressures, macroeconomic risks such as currency depreciation and dwindling foreign reserves persist.

From Attah Ede, Makurdi

The Benue State House of Assembly yesterday rebuffed insinuations by the Senate Committee on Judiciary, Human Rights and Legal Matters, that it acted without due regard to the provisions of the Nigerian Constitution in the suspension of the Benue State Chief Judge, Justice Maurice Ikpambese.

It insisted that the Assembly acted within the ambit of the law and had no regret whatsoever.

This was contained in a letter dated March 5th, signed by the Speaker of the Benue State House of Assembly and addressed to the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters.

Recall that the Senate had in a letter signed by the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Adegbanmire Adeniyi Ayodele, SAN and addressed to the Speaker of the Benue State House of Assembly, expressing deep concern over the purported removal of the Chief Judge of Benue State, Justice Maurice Ikpambese, insisting that the action was carried out without due regard to the provisions of the Nigerian Constitution, particularly in respect to the tenure and removal of judicial officers under the provision of Section 292 of the 1999 constitution.

Sen. Ayodele had urged the Members of the Benue State House of Assembly to take necessary steps to address the issue, ensuring that all the decisions regarding the suspension of Justice Ikpambese were in accordance with the constitution of the Federal Republic of Nigeria.

But in its response, the Benue State House of Assembly through the Speaker, Hon. Aondona Dajoh, said the state Assembly remained deeply committed to the rule of law and fully understands the constitutional safeguards surrounding the tenure and removal of judicial officers as enshrined in Section 292 of the 1999 Constitution (as amended).

Dajoh, however, asked the Senate to consider the constitutional doctrine of federalism and separation of powers, insisting that matters concerning the appointment and removal of judicial officers’ fall within the jurisdiction of the state government, subject to constitutional requirement.

According to the Speaker, the Senate Committee on Judiciary, Human Rights and Legal Matters can only play an advisory role, emphasizing that any of their directive or resolution which encroaches on the constitutional autonomy of the State Assembly can only be persuasive, especially as the constitution does not give them the right to superintend over the affairs of the State Assemblies.

“A careful examination of the constitution and relevant National Assembly statues does not expressly vest the Senate Committee on Judiciary, Human Rights and Legal Matters with direct supervisory or oversight authority over State Houses of Assembly in matters that are exclusively within their jurisdiction. See Section 4(2) and 88 of the 1999 Constitution.

“The Benue State House of Assembly recognizes the sanctity of the judiciary and the necessity of ensuring that all actions conform strictly to the due process provisions of the constitution. To this end, the House remains steadfast in ensuring that its resolutions align with constitutional provisions.”

He said the Assembly acted in compliance with the constitutional provisions regarding the removal of Justice Ikpambese, stating that after receiving a letter from the Executive, the matter was put to vote with a two-thirds majority vote secured, thereby fulfilling its constitutional role in the removal process.

The Speaker insisted that any concerns regarding the procedural compliance of the matter should be judicially adjudicated rather than subjected to extra judicial interventions that may undermine the autonomy of the State legislative institutions.

While appreciating the Senate Committee for its concern and insights over the matter, the Speaker reiterated that the Benue State House of Assembly acted well within its constitutional mandate in the case and as such, its decision remains lawful, final, and conclusive, except set aside by a court of competent jurisdiction.

By Eze Okechukwu, Abuja

The Senate yesterday descended into confusion, with its attendant chaotic scenes when Senator Natasha Akpoti Uduaghan of Kogi Central rose on Order 10 of the Senate Rules to allow her petition against the Senate President, Godswill Akpabio to be admitted and referred to the Committee on Ethics, Privileges and Public Petitions.

No later than Senator Natasha presented her petition that the Senate President in his address declared that he had never harassed any woman in his life.

Then, Senator Mohammed Monguno through Order 40 drew the attention of the chamber to the fact that the Nigerian Senate lacks jurisdiction to entertain the matter as it has been taken to court.

Citing relevant ‘Orders and Rules’ guiding Senate proceedings, Monguno submitted that “The power to debate on the allegation of sexual harassment against Senator Godswill Akpabio has been taken away”.

He maintained that any attempt to debate on the matter would be subjudice and an affront to the powers of the court, pointing out that the court be allowed to adjudicate on the matter.

“Mr Senate President, distinguished colleagues, you are aware that the wife of the Senate President, Mrs Unoma Ekaete Akpabio and her family have gone to court against Senator Akpoti-Uduaghan after she appeared on Arise Television on Thursday last week.

“This means this hallowed chamber cannot debate on the same matter as the chamber has been stopped,” he added.

Senate Leader, Michael Bamidele Opeyemi expressed sympathy with the Senate President for allowing the petition to be referred to the Committee, saying that the ‘Rules and Order’ does not allow a senator to sign a petition personally against the Senate leadership.

“The Senate erred to have admitted the petition as it is only the constituents that could have signed and forwarded the petition.

“It appeared Akpabio didn’t want the matter to look as if he was disallowing somebody from expressing her rights and hence allowed the error to be committed.

“I moved the chamber into a closed door (session),” Opeyemi said.

Police Fire Teargas on Pro Natasha Protesters who Seek Akpabio’s Resignation

The Police, yesterday in Abuja fired multiple teargas canisters on several pro-Senator Natasha Akpoti-Uduaghan protesters as they besieged the gate of the National Assembly over allegations of sexual harassment against Senate President, Godswill Akpabio.

The protesters, comprising women and men from mainly Kogi Central Senatorial District and led by one of Senator Natasha’s lawyers, Victor Giwa carried placards, banners and a national flag, asking the Senate President, Godswill Akpabio to step aside pending the determination of her sexual harassment allegations against him.

Shortly after the police fired teargas on the protesters as they gathered at the entrance to Unity Avenue by Head of Service axis, the protesters who had arrived as early as 08:00 hours dispersed and regrouped at the other end of the gate with banners bearing inscriptions like: Akpabio must Go, Akpabio Can’t be a Judge in a Matter involving him, Akpabio Should stop Sexually Women, Akpabio leave Natasha Alone”.

They called on the Senate Committee on Ethics, Code of Conduct and Public Petitions to which Senator Natasha alleged misconduct in the Chamber has been referred for probe, to recuse itself.

According to them, a man cannot be a judge in his case thus asking Akpabio to resign his position to allow for an unbiased probe of the allegations.

Recall that Natasha Akpoti-Uduaghan, the senator representing Kogi central, clashed with Senate President Godswill Akpabio over seating arrangements on February 20, 2025.

She was thereafter referred to the senate’s disciplinary panel. The senator subsequently filed a N100 billion defamation suit against Akpabio.

Last Friday, Akpoti-Uduaghan accused Akpabio of maligning and punishing her because she refused his sexual advances.