News on the Go: 5 things that should matter to you today

• Tinubu seeks approval for $2 billion dollar-denominated local bonds
• FG proposes three-year ban for students involved in exam malpractice
• AfDB to elect new president May 29 as Adesina’s tenure ends in August

We have highlighted the five most important developments in the news today, Wednesday, May 28, and present them below.

5 issues in the news that should matter to you today

1. Nigeria’s debt set to surpass N180 trillion as Tinubu seeks additional N34 trillion loans: Nigeria’s public debt is poised to exceed N180 trillion, following President Bola Tinubu’s request for National Assembly approval to secure new loans totalling N34.15 trillion.

In letters addressed to both the Senate and House of Representatives, read during Tuesday’s plenary sessions by Senate President Godswill Akpabio and House Speaker Tajudeen Abbas, the President outlined plans to obtain external loans of over $21.5 billion (equivalent to N33.39 trillion at an exchange rate of N1,590 per dollar).

2. Tinubu seeks approval for $2 billion dollar-denominated local bonds: In a bid to attract foreign exchange and deepen the local capital market, President Bola Tinubu has proposed issuing $2 billion worth of dollar-denominated bonds within Nigeria.

The proposal, forwarded to the National Assembly, is anchored in the Fiscal Responsibility Act and Executive Order No. 16 of 2023.

The plan aims to introduce new financial instruments to the domestic market, providing foreign currency investment options for both local and international investors.

3. FG proposes three-year ban for students involved in exam malpractice: The Federal Government has announced plans to introduce stricter penalties for students found guilty of examination malpractice during the Unified Tertiary Matriculation Examination (UTME).

Under the new directive, such students would face a three-year ban from participating in exams conducted by WAEC, NECO, and NABTEB.

The Minister of Education, Dr. Tunji Alausa, stated that any school or computer-based test (CBT) centre implicated in malpractice or operating as a "miracle centre" will also be sanctioned.

4. AfDB to elect new president May 29 as Adesina’s tenure ends in August: The African Development Bank (AfDB) will elect its next president on Thursday, May 29, 2025, during the Annual Meeting of the Board of Governors in Abidjan, Côte d’Ivoire.

This election signals the conclusion of Dr. Akinwumi Adesina’s 10-year tenure, which officially ends on August 31, 2025.

5. Saudi Arabia declares June 6 as Eid al-Adha: Saudi Arabia has confirmed the sighting of the crescent moon, signalling the start of Dhul Hijjah, the final month of the Islamic calendar.

According to an announcement on Tuesday, May 27, by Haramain Sharifain via X (formerly Twitter), Dhul Hijjah 1446 will begin on Wednesday, May 28, 2025.

The statement also highlighted key dates for upcoming Islamic observances:

• Dhul Hijjah begins: Wednesday, May 28, 2025
• Day of Arafah: Thursday, June 5, 2025
• Eid al-Adha: Friday, June 6, 2025

These dates will guide Muslim pilgrims and worshippers in observing the Hajj and Eid celebrations.