Under Wike, FCT moves from ninth-lowest to second-highest indebted in Nigeria Under Wike, the FCT’s domestic debt surged from N88.51 billion to N389.88 billion, catapulting Abuja from Nigeria’s ninth-lowest debtor to its second-highest, amid gaps in publicly available financial records. The Federal Capital Territory ’s domestic debt has risen more than fourfold since Nyesom Wike assumed office as minister of the FCT in August 2023, moving the territory from among Nigeria’s least indebted sub-national governments to the second-highest debtor, PREMIUM TIMES analysis of data from the Debt Management Office (DMO) has shown. When Mr Wike assumed office on 21 August 2023, the FCT’s domestic debt stood at N88.51 billion as of 30 September 2023 , according to DMO data. At the time, the FCT ranked 29th among the 36 states and the territory in domestic debt, meaning it was the ninth least indebted sub-national government in the country. By March 2026 , however...
People are really underrating China . Speaking at the Semafor World Economy Summit 2026, Africa's richest man, Aliko Dangote, argued that China's contribution to Africa's development is often overlooked. Dangote said China has become a key economic partner for the continent through financing, infrastructure development, and its ability to deliver projects and equipment at scale. To illustrate the point, he revealed that his company received 10,250 trucks from China in just seven months, describing it as an example of the country's industrial capacity and efficiency. While acknowledging concerns about government-to-government agreements and competitive bidding processes, Dangote said African countries should focus on securing quality infrastructure and partnerships that support long-term economic growth.