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Peter Obi Raises Alarm Over Nigeria’s Growing Debt Crisis

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Former Anambra State Governor and 2023 presidential candidate, Peter Obi , has once again voiced deep concern over Nigeria’s mounting national debt, warning that the country is edging dangerously toward a financial cliff . Obi, known for his consistent advocacy for transparency and fiscal responsibility, criticized the recent approval of massive foreign loans by the National Assembly—reportedly amounting to over $21 billion , €2.2 billion , and ¥15 billion . He emphasized that the current debt trend under the Tinubu administration is unsustainable and could leave future generations burdened with unpayable obligations. According to Obi, Nigeria’s debt has ballooned from ₦12.6 trillion in 2015 to a staggering ₦149 trillion in 2025 , a growth rate he described as "disturbing and reckless." He questioned the country’s borrowing culture, especially when there is little to show in terms of infrastructure, job creation, or improved living standards. “The government must stop li...

NYSC Funding Update: Corps Members Begin Receiving ₦77,000 Allowance Amid Delays

The National Youth Service Corps (NYSC) has finally commenced the payment of the newly approved ₦77,000 monthly allowance to serving corps members across Nigeria, following months of delay and uncertainty. The new allowance, which aligns with the national minimum wage increase approved in July 2024, replaces the previous ₦33,000 stipend that had been in place for several years.

However, many corps members were left frustrated as the implementation of the ₦77,000 payment was delayed due to lack of “cash backing.” According to NYSC officials, although the increment had received government approval, the delay was primarily caused by funding gaps and bureaucratic processes within the federal system.

In March 2025, some corps members across states like Lagos and Akwa Ibom confirmed receipt of the updated allowance, with reports of payment alerts hitting their accounts. NYSC’s spokesperson explained that the management had been working closely with relevant authorities to ensure the new stipend was disbursed nationwide, emphasizing the challenges of securing sufficient funds for over 300,000 active corps members.

Additionally, the NYSC has issued a reminder to employers of corps members regarding their responsibilities. The scheme urged all organizations and institutions accepting NYSC members to provide either transportation and accommodation or reasonable financial support to cover those needs. This directive aligns with the NYSC's renewed commitment to ensuring the welfare of its members.

Despite the rollout of the new allowance, there remains concern about consistency in payment and clarity on whether all corps members have received the revised amount. Some serving members have taken to social media to voice their concerns and call for greater transparency and timeliness in the disbursement process.

With the ₦77,000 allowance now officially underway, the NYSC community hopes for prompt and regular payments moving forward, alongside improved living and working conditions for Nigeria’s young graduates serving their nation.

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