The Nigerian Federal Government and the Nigeria Labour Congress have agreed on a new minimum wage adjustment, with increases ranging from 14% to 23.2% for various worker levels. The agreement, which followed three days of negotiation, specifies a 23.2% increase for level seven workers, 20% for level eight, 19% for level nine, 16% for levels 10-14, and 14% for levels 15-17. Funmi Sessi, chairperson of the NLC Lagos state chapter, expressed that workers were eager for the new wage, indicating that it would enhance productivity and wealth creation.

As of June 30, Nigeria's total debt has reached N25.7 trillion, including both domestic and external debts. This figure represents an increase of N1.32 trillion from the debt stock as of December 31, 2018. The Debt Management Office (DMO) reported that the federal government owes N20.42 trillion, while the states and the Federal Capital Territory owe N5.27 trillion. The federal government's domestic debt instruments include bonds, treasury bills, treasury bonds, savings bond, Sukuk, green bond, and promissory notes. In the second quarter of 2019, Nigeria spent N76.951 billion on debt service. The Accountant General of the Federation, Alhaji Ahmed Idris, has stated that the current rate of debt servicing will not destabilize the economy.

Nigeria's Vice President Yemi Osinbajo, represented by Fatima Waziri-Azi, stated at the FLAG’IT App launch by the Akin Fadeyi Foundation that no African countries can claim to have a low level of corruption. He emphasized that corruption and illicit financial flows in Africa entrap many in poverty and delay development. Despite Nigeria's high oil revenues, corruption has led to increased debt and poverty. The current administration's socio-economic agenda prioritizes the fight against corruption, which is being resisted by corrupt entities.

Gunmen suspected to be kidnappers attacked the Government Technical Secondary School in Kajuru, Kaduna, abducting the school’s principal. The incident occurred around midnight on October 10, with over 20 gunmen shooting sporadically to scare teachers and students. This follows the recent abduction of six female students and two teachers from Engraver’s College in the same state. The police have yet to confirm the latest development.

Oxfam International reports that over 94 million Nigerians live below the extreme poverty line, a significant increase from earlier figures. The organization highlights the urgency of addressing poverty, noting that Nigeria could house 25% of the world's extreme poor by 2030. Oxfam's country director, Constant Tchona, emphasizes the need for expedited actions and collaboration between citizens, government, and international NGOs to combat poverty. The Nigerian government, led by President Muhammadu Buhari, aims to lift 100 million Nigerians out of poverty within the next decade through various policies and programs.

The Nigerian military, represented by Chief of Army Staff Lt Gen Tukur Buratai, has stated that ongoing negotiations with bandits by north-west governors are political decisions rather than military ones. Despite these negotiations, the military remains committed to combating the outlaws in the North. Buratai emphasized that while the military has no objections if peace is restored, the decision to negotiate is ultimately political. This statement follows the recent killing of nine soldiers by armed bandits in Zamfara state.

Lt Gen Tukur Buratai, chief of Army staff, has directed troops in Zamfara, Katsina, Sokoto, and other states to maintain an aggressive stance against bandits, kidnappers, and cattle rustlers. He emphasized the Nigerian Army's readiness to protect citizens and their properties, stressing the importance of discipline, commitment, and adherence to the Army's Rules of Engagement and Code of Conduct. Buratai also assured troops of the Army's commitment to their welfare and warned against human rights violations.

Vice President Yemi Osinbajo of Nigeria departed for Oslo, Norway, to attend the Nordic-Africa Business Summit, aimed at enhancing trade and investment ties between Africa and Nordic countries. The summit, organized to attract major Nordic companies interested in Nigeria, will feature discussions on agriculture, manufacturing, technology, and energy. Osinbajo will also meet with Norwegian Prime Minister Erna Solberg to discuss mutual interests and will return to Nigeria on October 10.

The Bauchi State Governorship Election Petition Tribunal upheld the election of Bala Mohammed as governor, dismissing the petition filed by the All Progressives Congress (APC) and its candidate, Mohammed Abubakar, as lacking merit. The tribunal's chairman, Justice Salihi Shuiabu, ruled that the petitioners failed to prove their case beyond a reasonable doubt, affirming the validity of Mohammed's election.

Chatham House estimates that $582 billion has been stolen from Nigeria since its independence in 1960. The Economist highlights the role of former head of state, Gen Sani Abacha, in depositing billions in foreign banks. The article notes that anti-corruption efforts by campaigners, journalists, and Western governments have made it harder to steal public funds. Britain's International Corruption Unit has confiscated and frozen significant amounts of illicit funds. The Independent Corrupt Practices and other related offences Commission (ICPC) has also retrieved diverted constituency project funds in Nigeria.