COURT RESTRAINS RESIDENT DOCTORS FROM EMBARKING ON STRIKE. (PHOTO).

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 COURT RESTRAINS RESIDENT DOCTORS FROM EMBARKING ON STRIKE  The national industrial court Abuja division has restrained all members and agents of the national association of resident doctors from calling, directing, organizing, participating in, and embarking upon any form of industrial action.  Justice Emmanuel Danjuma Subilim gave the order in an interim injunction filed by the federal government through the office of the attorney general of the federation and minister of justice.  The court temporally barred members of the association from embarking on any form of strike, work stoppages, go-slows, picketing, or any other form of industrial protest or disruption. The association is equally restrained from taking steps preparatory to any form of industrial action from the 12th day of january, 2026. The interim order remains in force pending the hearing and determination of the motion on notice fixed for the january 21, 2026. The association had earlier threatened to...
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PUBLIC DEBT RISES 48% TO N144.67TRN IN 2024 — DMO. (PHOTO).

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 Public debt rises 48% to N144.67trn in 2024 — DMO


Nigeria’s public debt surged by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024, up from N97.34 trillion ($108.23 billion) in 2023.


This was disclosed by the Debt Management Office (DMO) in its most recent public debt profile report.


The total debt consists of external debt amounting to N70.29 trillion ($45.78 billion), which is serviced with $4.66 million, and domestic debt of N74.38 trillion ($48.44 billion).


The report revealed that the country’s external debt rose by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.


Meanwhile, domestic debt grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.


Additionally, the report showed that the Federal Government’s domestic debt component rose by 32 per cent YoY, reaching N70.41 trillion from N53.26 trillion in 2023.


In contrast, the domestic debt of states and the Federal Capital Territory fell by 32 per cent YoY to N3.97 trillion in 2024, down from N5.86 trillion in 2023.


The increase in public debt can largely be attributed to fluctuating exchange rates amid changes in global economic conditions.


The sharp rise, particularly in external debt, underscores the nation’s vulnerability to exchange rate fluctuations and shifts in global economic dynamics.


As the naira continues to depreciate, the cost of servicing foreign debt could rise, placing additional strain on the country’s financial resources.

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