Poverty: Households Spend 120 Per Cent  Income on Food, Says Oyedele 

By Tambaya Julius

Some Nigerian households spend up to 120 per cent of their income on food, forcing them to borrow or rely on relatives to survive, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has revealed.

Speaking at Chatham House in London, Oyedele cited a government survey showing that food expenses in some households exceed their total earnings, underscoring the severity of Nigeria’s cost-of-living crisis.

“Up to 120 per cent of household income is spent on food. Like, how do you spend 120 per cent of your income? You borrow food before the end of the month,” he said.

He noted that Nigeria’s poverty rate remained above 50 per cent despite an unemployment rate of about five per cent, warning that having a job does not necessarily mean a person can afford basic necessities.

The situation, he said, reflects the growing number of working Nigerians trapped in poverty.

“That tells you something. As a policymaker, you don’t sit back and say we don’t have unemployment. You have working poor,” he stated.

Oyedele attributed rising food prices to structural challenges in agriculture, including low yields, seasonal farming, post-harvest losses, inadequate storage facilities, high transportation costs and insecurity in farming communities.

He noted that post-harvest losses could reach 60 per cent for tomatoes in some cases, worsening food supply shortages and putting further pressure on prices.

Food inflation stood at 19.6 per cent in September, with food prices declining more slowly than headline inflation.

“Macroeconomic stability means little to a mother who still cannot afford food,” he added.

To address the problem, the Federal Government is investing in agricultural technology, irrigation, storage infrastructure and financing for smallholder farmers to boost production and reduce food losses.

The government’s cash transfer programme has also reached more than 10 million households, with digital payments and National Identification Number (NIN) verification introduced to minimise leakages.

Oyedele said agriculture and non-tradable services, which employ 81.4 per cent of working Nigerians, were being prioritised to increase incomes, improve living standards and reduce dependence on government cash assistance.

By Tambaya Julius, Abuja

A Federal Government investigative panel has described the deaths of 37 suspected illegal miners in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Niger State as preventable, recommending ₦1.

The panel’s chairman, Jonathan Kure, a former Deputy Director-General of the Department of State Services (DSS), made this known on Tuesday while presenting the committee’s report to the Minister of Interior, Olubunmi Tunji-Ojo, in Abuja.

Kure said the committee recommended compensation for the families of 33 victims and 44 survivors affected by the incident.

He disclosed that the deceased, including 14 minors, had been held under inhumane conditions that contributed to the avoidable loss of lives.

The panel also recommended the dismissal of the Niger State NSCDC commandant and other officers found to have been directly involved in the detention of the suspected miners and the circumstances leading to their deaths.

Beyond sanctions against the affected officers, the committee called for institutional reforms within the corps to strengthen leadership, improve accountability and prevent a recurrence of similar incidents.

Receiving the report, Tunji-Ojo assured that the Federal Government would act on the recommendations to ensure justice for the victims and their families.

The minister also ordered the immediate suspension of officers accused of cleaning up the detention facility in an alleged attempt to destroy evidence connected to the incident.

The deaths occurred on September 17, 2026, while the suspected miners were being held at the NSCDC Niger State Command in Minna.

The victims were among several individuals arrested during operations against suspected illegal mining activities in the M.I. Wushishi and Lukoto areas of Niger State.

The panel’s findings have raised fresh concerns about the treatment of detainees, the conduct of security personnel and the need for stronger safeguards to ensure accountability within the corps.

By Tambaya Julius, Abuja

President Bola Tinubu has asked the National Assembly to approve a supplementary external borrowing plan of $20.52 billion and €1.045 billion to finance projects and programmes across critical sectors of the Nigerian economy.

The request was conveyed in a letter read by Senate President Godswill Akpabio during plenary on Tuesday.

Tinubu said the proposed loans would help address the country’s infrastructure deficit, accelerate economic growth, create employment opportunities and improve the living conditions of Nigerians.

He urged the National Assembly to approve the 2026–2027 Supplementary External Borrowing Plan to enable the Federal Government to implement its development projects and programmes without delay.
Hhowever, the opposition- African Democratic Congress( ADC) has querried the timing of the loan just as it said economic conditions in tje country did not justify any fresh borrowing.

The president said the proposed borrowing would cover infrastructure, agriculture, healthcare, education, water supply, security, employment generation and financial management reforms.

According to him, the need to sustain economic growth and accelerate national development following the implementation of his administration’s reforms had made additional external financing necessary.

Tinubu put the proposed facilities at $20,517,755,901 and €1,045,083,643, adding that the projects and programmes had undergone technical and economic assessments to determine their potential contributions to national development.

He said the proposed investments were expected to stimulate economic activities, create jobs, promote skills acquisition, encourage entrepreneurship, reduce poverty and strengthen food security.

The president added that most of the projects would be implemented across the 36 states of the federation and the Federal Capital Territory (FCT).

He explained that the scale of Nigeria’s infrastructure needs and the financial resources required to address them had made broader external borrowing necessary to bridge the funding gap.

Tinubu said the funds would be channelled primarily into critical infrastructure, particularly power, transportation and healthcare, while other sectors would also benefit from the proposed financing.

He called on the Senate and the House of Representatives to give the request urgent consideration, arguing that prompt approval would facilitate timely disbursement and effective implementation of the projects.

Following the presentation of the letter, Akpabio referred the request to the Senate Committee on Local and Foreign Debts for consideration and directed it to report back to the chamber within one week.

The committee is expected to conduct the initial legislative review, with possible collaboration with the Senate Committee on Appropriations and other relevant committees.

The proposed borrowing plan must undergo legislative scrutiny before the external financing can proceed.

However, the letter, as presented to the Senate, did not provide a project-by-project breakdown of the proposed facilities, their individual financing terms or the allocation of funds among the beneficiary sectors.

The request comes as the Federal Government seeks additional resources to finance infrastructure and development programmes amid competing demands on public finances.

The implementation of the borrowing plan will depend on the outcome of the National Assembly’s consideration and the details of the projects to be financed.

In a statement, the Director of Media and Publicity of the ADC-PCC, Kola Ologbondiyan, said the fresh borrowing request came amid rising living costs, increased taxation and growing economic hardship among Nigerians.

Ologbondiyan questioned the rationale for seeking additional foreign loans when, according to the council, millions of citizens were struggling to meet their basic needs.

“What exactly is President Tinubu borrowing all this money for? Where are the roads, the electricity, the hospitals, the jobs and the critical infrastructure that should justify this relentless accumulation of debt? Nigerians deserve answers,” he said.

He also demanded explanations on the utilisation of funds saved from fuel subsidy removal and the proceeds of previous borrowings.

The ADC-PCC expressed concern that continued dependence on foreign loans, without clear evidence of corresponding improvements in infrastructure, productivity, employment and citizens’ welfare, could push Nigeria deeper into a debt trap.

According to the council, mounting debt-servicing obligations could limit the ability of future administrations to make independent economic decisions and undermine the country’s fiscal flexibility.

“This is not a sustainable path to national development. It is a dangerous attempt to mortgage the future of Nigeria and generations yet unborn,” Ologbondiyan said.

He argued that the government should not continue to demand economic sacrifices from citizens while seeking additional loans without adequately explaining how existing resources had been spent.

The council further warned that excessive borrowing could expose the country to greater financial pressure and constrain its ability to fund critical public services.

It insisted that any new borrowing arrangement must be tied to clearly defined national priorities, productive investments and measurable benefits for Nigerians.

The ADC-PCC therefore called on the National Assembly to subject the proposed loans to rigorous scrutiny and reject the request unless the Federal Government demonstrates their necessity, sustainability and expected benefits.

It also demanded that Tinubu publish a comprehensive account of all domestic and foreign loans obtained since May 29, 2023, alongside a detailed breakdown of revenue generated from fuel subsidy removal and how the funds had been applied.

The council called for full disclosure of the proposed facilities’ purposes, interest rates, repayment schedules, associated fees, conditions and any collateral or guarantees attached to them.

It maintained that Nigerians had a right to know the financial obligations being incurred on their behalf and the implications for the country’s economic future.

“Nigeria cannot borrow its way out of poor economic management. Borrowing must be tied to clearly defined national priorities, transparent expenditure and measurable outcomes.

Anything less is an injustice to the Nigerian people,” the statement added.

The ADC-PCC also urged the National Assembly not to abdicate its oversight responsibilities, insisting that lawmakers must ensure that any borrowing arrangement does not expose the country to unacceptable financial risks.

It said the Federal Government must demonstrate how the proposed loans would stimulate economic growth, create jobs, improve infrastructure and raise living standards rather than impose additional liabilities on future generations.