NEWS
Reps Order Suspension of COVID-19 Loan Deductions
The House of Representatives has directed the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, and the Federal Ministry of Finance to immediately suspend all deductions on COVID-19 intervention loans and grant total waivers for outstanding loans owed by vulnerable households and micro-businesses.
The directive followed a motion of urgent public importance sponsored by Saidu Musa Abdullahi, Deputy Chairman of the House Committee on Finance, who emphasized that current harsh economic conditions have left many Nigerians unable to repay their loans.
The House also mandated the CBN, NIRSAL, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to restructure repayment terms for SMEs, including extending moratoriums, reducing interest rates, and spreading repayment over longer periods to safeguard jobs and prevent business closures.
Abdullahi highlighted that the COVID-19 Targeted Credit Facility (TCF), introduced during the pandemic, disbursed ₦419.42 billion to households and SMEs, supporting 792,936 beneficiaries nationwide—674,972 households and 117,964 small businesses—with women accounting for 45% of the total support. The program is credited with creating or sustaining 1,585,872 jobs.
He expressed concern that as of September 2023, ₦261.07 billion (62%) of the loans remained unpaid, while ₦378.03 billion was classified as outstanding, reflecting widespread repayment challenges among vulnerable groups. Recent automatic deductions have recovered part of the amounts, but substantial hardship remains.
Abdullahi stressed that the COVID-19 TCF was a survival support loan, not a conventional business facility, with funds often used for essential needs like food, healthcare, shelter, and school fees, making repayment difficult for those who have yet to recover economically.
He cited domestic and international precedents for loan leniency, noting that Nigeria’s Anchor Borrowers Programme has repeatedly offered restructuring and partial waivers despite high default rates, while countries like the United States, Canada, Germany, South Africa, and India also forgave or extended COVID-19 relief loans in recognition of the pandemic’s humanitarian impact.
“The continued automatic debits and aggressive recoveries are causing severe hardship, risking small business collapse, worsening unemployment, and heightening social instability,” Abdullahi said, urging immediate action to protect vulnerable Nigerians.
Education
Kaduna council boss pays WAEC fees for 250 indigent students
The Chairman of Jema’a Local Government Area of Kaduna State, Mr Peter Tanko, has paid the 2026 West Africa Examination Council (WAEC) registration fees for 250 indigent students in public Secondary Schools.
Speaking at the inauguration of the WAEC fee payment exercise in Kafanchan, Tanko said that the gesture was borne out of his compassion to support less privileged students.
According to him, no child should be denied the opportunity to access education because of lack of funds.
He reiterated his commitment to initiating policies and programmes that would have direct bearing on the lives of the people.
In his remarks, the Commissioner for Humanitarian Affairs, Mr Yunana Barde, lauded the council chairman for placing premium on educational development of his people.
Barde said that the importance of education to societal development could not be overemphasised.
Also speaking, Audu Dogara, the council’s Education Secretary, described the intervention as an investment in the children and the future of the local government.
He admonished the beneficiaries to see the gesture as an opportunity for them to give their best in the examination.
Mr Emmanuel Utung, Chairman of the WAEC Sponsorship Committee, said that the beneficiaries cut across the 12 wards of the local government.
According to him, the gesture would go a long way in easing the financial burden on the beneficiaries’ parents.
Miss Benedicta Boniface, who spoke on behalf of the beneficiaries, thanked the chairman for his magnanimity and promised that they would not disappoint him.
NEWS
Replacing Shettima will Jeopardize Tinubu’s Reelection – APC Chieftain Warns
A chieftain of the All Progressives Congress, APC, Abayomi Mumuni, has warned against any attempt to replace Vice President Kashim Shettima on religious grounds ahead of the 2027 general elections
Mumuni said this on Wednesday in reaction to the controversies erupting from the omission of Vice President Shettima’s photograph from a banner displayed at the North-East Zonal Public Hearing on the amendment of the APC constitution.
According to him, the North presently lacks a Christian candidate with the political clout and followership needed to deliver substantial electoral support.
He said the idea of dropping Shettima could undermine the APC’s chances of retaining power.
There have been speculations about a possible plan to drop Shettima from the party’s 2027 presidential ticket.
Mumuni further said that discussions about replacing Shettima with a Christian vice-presidential candidate, ostensibly to address concerns about religious inclusivity, are not strategically sound in the current political climate.
According to him, the northern region currently lacks a Christian candidate with sufficient grassroots support and nationwide appeal to complement President Bola Tinubu’s electoral strength.
“Any miscalculation in this regard could jeopardise the winning ticket for the current administration,” he warned.
NEWS
Why We Suspended Investment in Oil Exploration in Senegal – Oranto Petroleum
…Says it Has Committed Over US$45 Million in Expenditures in Senegal
By Mike Odiakose, Abuja
The management of Oranto Petroleum, the firm owned by Nigerian billionaire and philanthropist Prince Arthur Eze, has shed light on why it suspended any further investments in the St Louis & Cayar Licenses in Senegal.
The Senegalese government had in January 2026 officially revoked an offshore oil exploration license held by Atlas Oranto Petroleum.
The Senegalese government alleged that the holder had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded.
Responding to the revocation of the license, the management of Oranto Petroleum declared the government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.
According to the management, “till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract.
“Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa.”
The company expressed reservations on why the Senegalese government will single it out for false narratives which it classified as “unfair, unjustified and targeted.”
Part of the statement read: “Oranto Petroleum would like to use this opportunity to respond to the false narrative currently being perpetuated by the Government of Senegal on the St Louis & Cayar Offshore Licenses previously operated by Oranto Petroleum.
“As a matter of fact, Oranto Petroleum in 2025 decided to suspend any further investments in the St Louis & Cayar Licenses in Senegal after the Government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.
“For record purposes, till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract. These records exist and can be fact checked.
“It is worth mentioning that for reasons best known to the Government of Senegal, Oranto Petroleum has been singled out in this false narrative – this we classify as unfair, unjustified and targeted.
“We would like to use this opportunity to state that other foreign entities operating in Senegal are also facing challenges doing business in Senegal and this calls for concern.
Some of those include: Woodside currently in court of Arbitration with Government of Senegal on issues bothering
around back costs for the Sangomar Development –
https://www.africabusinessplus.com/en/829378/woodside-vs-dakar-arbitration-proceedings-can
2. Alleged plans by the Government of Senegal to nationalise Kosmos-run Yakaar-Teranga Gas
Project – https://www.reuters.com/business/energy/senegal-plans-nationalise-kosmos-run
yakaar-teranga-gas-project-2025-12-10/
and 3. British Petroleum’s exit from Senegal over disagreement with Government – https://www.offshore
technology.com/news/bp-exits-senegal-gas-field/
“It is worth noting that Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa.
“OrantoPetroleum as per business model remains an early explorationist focused on acreage derisking and later stage development in collaboration with third party Operators.
“Oranto Petroleum remains respectful for the rule of law in all jurisdictions where it operates and urges the public to disregard any narratives that continuously focuses on demarketing African investment opportunities geared towards the greater good of Africa and her citizens.

