{"id":867556,"date":"2025-08-23T23:14:45","date_gmt":"2025-08-24T04:14:45","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/23\/top-5-stories-of-the-day-nigeria-now-spends-less-than-50-of-revenue-on-debt-servicing-oyedele\/"},"modified":"2025-08-23T23:14:45","modified_gmt":"2025-08-24T04:14:45","slug":"top-5-stories-of-the-day-nigeria-now-spends-less-than-50-of-revenue-on-debt-servicing-oyedele","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/23\/top-5-stories-of-the-day-nigeria-now-spends-less-than-50-of-revenue-on-debt-servicing-oyedele\/","title":{"rendered":"Top 5 Stories Of The Day | Nigeria Now Spends Less Than 50% of Revenue on Debt Servicing \u2014 Oyedele"},"content":{"rendered":"<div>\n<p><a href=\"https:\/\/ynaija.com\/top-5-stories-of-the-day-nigeria-now-spends-less-than-50-of-revenue-on-debt-servicing-oyedele\/\"><img loading=\"lazy\" width=\"783\" height=\"391\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-21-1.jpeg\" alt=\"Top 5 Stories Of The Day | Nigeria Now Spends Less Than 50% of Revenue on Debt Servicing \u2014 Oyedele\" decoding=\"async\"  ><\/a><\/p>\n<ul>\n<li><strong><em>Nigeria now spends less than 50% of revenue on debt servicing \u2014 Oyedele<\/em><\/strong><\/li>\n<li><strong><em>Retired police officers protest pension scheme, slam IGP<\/em><\/strong><\/li>\n<li><strong><em>NLC warns of impending authoritarianism, alleges clampdown on workers\u2019 rights<\/em><\/strong><\/li>\n<li><strong><em>Kemi Badenoch faces backlash from Nigerians over anti-immigration remarks<\/em><\/strong><\/li>\n<li><strong><em>NBS reveals Nigeria\u2019s economy grew by 3.13% in Q1 2025 after GDP rebasing<\/em><\/strong><\/li>\n<\/ul>\n<p><strong><em>Across Nigeria\u2019s 36 states and the Federal Capital Territory, these are the top five <\/em><\/strong><a href=\"https:\/\/ynaija.com\/top-5-stories-of-the-day-air-peace-opens-%e2%82%a61-million-fares-for-abuja-london-heathrow-flights\/\"><strong><em>Nigerian news stories you shouldn\u2019t miss<\/em><\/strong><\/a>.<\/p>\n<h2><strong>Nigeria now spends less than 50% of revenue on debt servicing \u2014 Oyedele<\/strong><\/h2>\n<figure><a href=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-16-2.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"625\" height=\"407\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-16-2.jpeg\" alt  ><\/a><\/figure>\n<p>Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has revealed that Nigeria now spends less than 50% of its revenue on servicing debt, down from nearly 97% prior to recent economic reforms.<\/p>\n<p>Speaking at <a href=\"https:\/\/www.pwc.com\/\">PwC\u2019s<\/a> Executive Summit on Nigeria\u2019s Tax Reform in Lagos on Monday, Oyedele highlighted key improvements in the country\u2019s fiscal health, attributing them to the reform agenda.<\/p>\n<p>He noted that unmet forex futures exceeding $7 billion have been cleared, external reserves have risen from under $4 billion to over $20 billion, and budget deficits are shrinking, allowing more funds to be allocated to infrastructure.<\/p>\n<h2><strong>Retired police officers protest pension scheme, slam IGP<\/strong><\/h2>\n<figure><a href=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-15-2.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"814\" height=\"376\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-15-2.jpeg\" alt  ><\/a><\/figure>\n<p>Hundreds of retired police officers on Monday took to the streets across Nigeria, including Abuja, to protest their continued inclusion in the Contributory Pension Scheme, describing it as discriminatory and unjust.<\/p>\n<p>During the demonstrations, the officers passed a vote of no confidence on the Inspector General of Police, Kayode Egbetokun, citing the government\u2019s silence on their concerns as deeply frustrating.<\/p>\n<p>In Ilorin, Kwara State, ARPON\u2019s legal adviser, retired SP Adekunle Iwalaiye, warned that the issue could destabilise internal security, stating, \u201cWhen officers know they will retire into poverty, they stop caring about integrity\u2026 You cannot pay a man \u20a62.4 million after 35 years and expect him to retire with dignity.\u201d<\/p>\n<h2><strong>NLC warns of impending authoritarianism, alleges clampdown on workers\u2019 rights<\/strong><\/h2>\n<figure><a href=\"https:\/\/ynaija.com\/wp-content\/uploads\/2024\/07\/images-34.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"441\" height=\"220\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2024\/07\/images-34.jpeg\" alt  ><\/a><\/figure>\n<p>The Nigeria Labour Congress (NLC) has raised concerns over what it describes as a dangerous slide toward authoritarian rule, warning that Nigeria\u2019s democratic space is shrinking as workers\u2019 rights face sustained attacks.<\/p>\n<p>NLC President Joe Ajaero, speaking at the opening of the 21st Rain School in Uyo on Monday, accused the federal and state governments of stifling free speech, suppressing union activities, and unlawfully seizing workers\u2019 contributions.<\/p>\n<p>He said these actions are part of a broader effort to silence dissent ahead of the 2027 elections, stressing that the clampdown on civic freedoms poses a serious threat to democracy and the welfare of Nigerian workers.<\/p>\n<h2><strong>Kemi Badenoch faces backlash from Nigerians over anti-immigration remarks<\/strong><\/h2>\n<figure><a href=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-14-2.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"670\" height=\"389\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2025\/07\/images-14-2.jpeg\" alt=\"Top 5 Stories Of The Day | Nigeria Now Spends Less Than 50% of Revenue on Debt Servicing \u2014 Oyedele\"  ><\/a><\/figure>\n<p>Nigerians on social media have criticised UK Conservative Party leader Kemi Badenoch following her comments advocating stricter immigration rules to limit Nigerians from acquiring British citizenship.<\/p>\n<p>In a <a href=\"https:\/\/www.cnn.com\/\">CNN<\/a> interview on Sunday, Badenoch opposed the idea of immigrants creating a \u201cmini-Nigeria\u201d in the UK, saying such behaviour wouldn\u2019t be tolerated in Nigeria or other countries. \u201cThere are many people who come to our country who do things that would not be acceptable in their countries,\u201d she stated.<\/p>\n<p>Her remarks triggered outrage online, with many Nigerians accusing her of repeatedly attacking her country of birth to gain political favour in the UK.<\/p>\n<h2><strong>NBS reveals Nigeria\u2019s economy grew by 3.13% in Q1 2025 after GDP rebasing<\/strong><\/h2>\n<figure><a href=\"https:\/\/ynaija.com\/wp-content\/uploads\/2024\/11\/OIP-22.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"474\" height=\"276\" src=\"https:\/\/ynaija.com\/wp-content\/uploads\/2024\/11\/OIP-22.jpg\" alt=\"Top 5 Stories Of The Day | Nigeria Now Spends Less Than 50% of Revenue on Debt Servicing \u2014 Oyedele\"  ><\/a><\/figure>\n<p>The <a href=\"https:\/\/www.nigerianstat.gov.ng\/\">National Bureau of Statistics<\/a> (NBS) has announced that Nigeria\u2019s economy grew by 3.13% in the first quarter of 2025, an improvement from the 2.27% recorded in the same period last year.<\/p>\n<p>In nominal terms, the GDP rose to \u20a6372.82 trillion, up from \u20a6205.09 trillion using the new base year of 2019. The previous GDP base year had been 2010.<\/p>\n<p>Speaking at a press briefing, Statistician General of the Federation, Prince Adeyemi Adeniran, said the rebasing exercise also reshuffled sector rankings, with real estate now ranked third, pushing crude oil and natural gas to fifth place.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/ynaija.com\/top-5-stories-of-the-day-nigeria-now-spends-less-than-50-of-revenue-on-debt-servicing-oyedele\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria now spends less than 50% of revenue on debt servicing \u2014 Oyedele Retired police officers protest pension scheme, slam IGP NLC warns of impending authoritarianism, alleges clampdown on workers\u2019 rights Kemi Badenoch faces backlash from Nigerians over anti-immigration remarks NBS reveals Nigeria\u2019s economy grew by 3.13% in Q1 2025 after GDP rebasing Across Nigeria\u2019s<\/p>\n","protected":false},"author":1,"featured_media":867557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27096,4004],"tags":[15956,8857],"class_list":{"0":"post-867556","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nigeria","8":"category-stories","9":"tag-nigeria","10":"tag-stories"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/867556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=867556"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/867556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/867557"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=867556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=867556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=867556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}