Morning recap: APC chairmen reject Wike’s coalition, FG seeks fresh $1.5bn World Bank loan, other top stories

1. APC leaders have rejected President Tinubu's proposed "Rainbow Coalition" led by Minister Nyesom Wike, demanding that Wike join the ruling party if he is serious about his support for Tinubu's re-election.

2. The Federal Government is negotiating with the World Bank for three new $1.5 billion loans, as Nigeria's public debt reached a record N166.79 trillion by the end of June 2026. The funds will be allocated to climate resilience, social protection, and early childhood development projects.

3. The Nigeria Democratic Congress has initiated the registration of support groups for the 2027 presidential election, leading to tensions between the party and some groups backing their ticket. The Obi-Kwankwaso Movement and the Kwankwaso faction have expressed disagreement regarding the registration process.

4. The Federal Government has approved new guidelines for debarment of defaulting contractors from federal government procurement contracts for a period ranging from three to five years. The grounds for debarment include bribery, fraud convictions, subpar performance, falsification of documents, and past debarment by multilateral organizations.

5. In Ogun State, police have apprehended 11 suspects and recovered 25 ATM cards, three firearms, and two suspected stolen vehicles during an 11-day security operation. The seized items were made during the crackdown on an alleged N2.5 million fraud case in Igbesa.