Nigeria's debt payments significantly outweigh health and education spending, ActionAid report finds
via Punch Nigeria3 min read
A new report by ActionAid International and ActionAid Nigeria reveals that Nigeria allocates nearly five times more of its national revenue to servicing external debts than to healthcare and education combined. The report, titled “Still Cooking with a Failed Recipe: A Review of IMF Country Advice on Social Spending, Public Services, Debt, Tax and Gender Equality,” examined 29 International Monetary Fund IMF documents across 11 countries, including Nigeria, between February 2022 and February 2025. Nigeria spends 20.1 percent of its national revenue on external debt payments, compared to 4.06 percent on health and 4.40 percent on education. The report criticizes the IMF for pushing policies that have undermined social spending and worsened economic hardship, noting that the IMF did not connect debt servicing with its implications for health and education funding. It also highlights that the IMF recommended Nigeria remove its fuel subsidy, acknowledging that compensatory measures for the poor were inadequate, leading to the reintroduction of a subsidy. Furthermore, the report alleges that IMF policy advice to Nigeria remains largely unchanged despite public commitments to social spending and gender equality, and that Nigeria's public-sector wage bill has been frozen at 1.9 percent of GDP for six years, the lowest among the reviewed countries. ActionAid Nigeria’s Country Director, Andrew Mamedu, criticized the IMF's "double standards," pointing out that the IMF did not recommend
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Lazio has officially appointed former Italy international Gennaro Gattuso as the club's new head coach. The Serie A club announced Gattuso's arrival on Tuesday, weeks after he was seen at Lazio's training center in Rome, reportedly discussing transfer plans with president Claudio Lotito and club directors. Gattuso, 48, is believed to have signed a two-year contract, replacing Maurizio Sarri. This appointment could impact Nigerian midfielder Fisayo Dele-Bashiru, whose future at Lazio was uncertain under Sarri. Gattuso's arrival may provide Dele-Bashiru with a new opportunity to secure his place in the squad. Dele-Bashiru played 24 times in Serie A last season, scoring one goal. Gattuso returns to club management after a brief period as Italy's coach, a role he resigned from on April 3 after the team failed to qualify for the World Cup. He previously managed Victor Osimhen at Napoli between 2020 and 2021. Gattuso now faces the task of rebuilding Lazio and aiming for success in domestic and European competitions.
The Lagos State Government has introduced the third edition of its Agrithon programme, Lagos Agrithon 3.0, offering a N200m funding package to support youth-led innovations and agribusinesses within the food systems value chain. The initiative aims to provide young agripreneurs with funding, mentorship, technical support, networking opportunities, and market access to help transform innovative ideas into sustainable businesses. According to the Commissioner for Agriculture and Food Systems, Abisola Olusanya, the program addresses challenges faced by young innovators, such as limited access to finance, markets, technical expertise, and strategic partnerships. She noted that strengthening the state’s agricultural innovation ecosystem is crucial for food systems transformation, aligning with the food security agenda of President Bola Tinubu and Governor Babajide Sanwo-Olu. Olusanya highlighted reforms like the transition to the Ministry of Agriculture and Food Systems and the development of the Lagos Food Systems Roadmap. She stated that previous Agrithon editions produced successful entrepreneurs and described the 2026 edition as the most ambitious, featuring a N200m grant pool and a rigorous selection process. Innovators in agricultural production, processing, logistics, cold chain management, mechanisation, climate resilience, biotechnology, and digital agriculture are encouraged to apply. Olusanya also called on private sector organizations, investors, and development partne
Prominent leaders of the National Democratic Coalition NADECO, Col Tony Nyiam retd. and Chief Ayo Opadokun, have refuted claims made by former Head of State, Gen Abdulsalami Abubakar retd.. Abubakar, in his autobiography "Call of Duty," asserted that some NADECO leaders requested an extension of military rule in 1998 and that the late Chief MKO Abiola died of natural causes. Nyiam, a key member of NADECO abroad, stated he was unaware of any recognized NADECO leader who sought to prolong military rule, emphasizing the group's objective was to end military dictatorship. He recalled a meeting where NADECO figures, including current President Bola Tinubu, unanimously insisted on a credible democratic transition. Nyiam also challenged Abubakar's account of Abiola's death, suggesting the former Head of State was either misinformed or being economical with the truth. Chief Opadokun, former NADECO General Secretary, clarified that NADECO abroad had requested a program for stability that included a people's constitution and a government of national unity headed by Abiola, not an extension of military rule. He indicated that Abubakar might have misconstrued these discussions.