German Economy Minister Robert Habeck has publicly criticized the rationale behind potential tariffs imposed by the United States under a possible future Trump administration. Speaking ahead of an EU trade ministers meeting, Habeck dismissed the premise of such tariffs as “nonsense” and emphasized the strength of the European Union’s economic position.

Habeck urged a measured but firm response from the EU, highlighting the importance of unity amongst member states. He cautioned against individual countries seeking exemptions, citing the ineffectiveness of such strategies in the past. He further stressed the necessity of pursuing strong trade agreements with global partners in South America, Asia, and the Pacific regions.

Central to Habeck’s argument is the assertion that the underlying economic calculations supporting the tariffs are fundamentally flawed. He specifically refuted the notion that a trade surplus or deficit inherently represents a problem. This stance signals a potential for robust negotiations and a firm defense of European economic interests in the face of future trade pressures.

Governor Bassey Otu of Cross River State, Chairman of the All Progressives Congress (APC) Anambra State Governorship Primary Election Committee, has voiced confidence in the party’s potential to secure victory in the upcoming gubernatorial election. Addressing APC delegates in Awka, Governor Otu emphasized the possibility of wresting control of Anambra State from the incumbent All Progressives Grand Alliance (APGA), currently led by Governor Charles Soludo.

Governor Otu highlighted the strategic importance of aligning Anambra with the ruling party at the center, suggesting that such alignment would benefit the state’s populace. He further stressed the need for unity amongst party members, urging them to support the eventual primary election winner and work cohesively towards achieving success in the general election. The governor underscored the APC’s growing presence in the Southeast, emphasizing the potential impact of adding Anambra to its regional portfolio. His remarks signal a renewed and determined effort by the APC to expand its influence in the region.

Nigeria’s public debt has experienced a substantial surge, reaching N144.67 trillion by December 2024, a 48.58% increase from the N97.34 trillion recorded at the close of 2023. This data, released by the Debt Management Office, indicates a year-on-year increase of N47.32 trillion and a quarter-on-quarter rise of 1.65%.

This escalation is primarily attributable to increased external and domestic borrowing. External debt rose by 83.89% to N70.29 trillion, while domestic debt increased by 25.77% to N74.38 trillion. The Federal Government accounts for the majority of both external (N62.92 trillion) and domestic (N70.41 trillion) debt.

This significant increase in Nigeria’s debt profile has prompted concern among financial experts, particularly regarding the country’s capacity to manage this growing burden amidst existing infrastructural deficits. The implications of this rising debt for Nigeria’s economic stability and future development remain a critical area of analysis.