MERCY AIGBE, ENIOLA AJAO SPARK BACKLASH OVER ATTENDANCE AT CEO LUMINEE’S SURPRISE BABY SHOWER. (PHOTO).

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 Mercy Aigbe, Eniola Ajao Spark Backlash Over Attendance at CEO Luminee’s Surprise Baby Shower The Nigerian entertainment circle is buzzing once again following the birth of a newborn baby boy to celebrity stylist Abiodun Folashade, widely known as CEO Luminee, and veteran actor Olanrewaju Omiyinka, popularly called Baba Ijesha. While the news of their child initially sparked waves of skepticism across social media, a newly surfaced video from Luminee's surprise baby shower has added more fuel to the ongoing online debate. A Star-Studded Surprise and Tears of Joy In the recently leaked footage, a heavily pregnant CEO Luminee can be seen completely overwhelmed with emotion. The popular fashion designer broke down in tears of joy as close friends and colleagues pulled off a heartwarming surprise baby shower for her. Among the high-profile guests captured comforting the emotional mother-to-be were prominent Nollywood actresses Mercy Aigbe and Eniola Ajao. Another segment of the video ...
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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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