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Senate moves to endorse Tinubu’s N1.77tn loan request within 24hrs

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President Bola Tinubu has requested the National Assembly for approval of N1.767tn loan already captured in the external borrowing plan for implementation of the N28.7trillion 2024 budget.

President Tinubu who made the request in separate letters read in Senate and House of Representatives during plenary on Tuesday, said if approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget.

The Senate President , Godswill Akpabio after reading the letter , mandated the Senate Committee on Local and Foreign to work on the request and report back within 24 hours .

“The Presidential request for $2.2billion , equivalent of N1.767trillion loan is already enshrined in the external borrowing plan for the 2024 fiscal year .

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” The Senate Committee on Local and foreign debts , should therefore , give the request expeditious consideration and report back within 24 hours .

The president has also forwarded the Medium Term Expenditure Frame work (MTEF) and Fiscal Strategy Paper (FSP) for 2025- 2027 to both the Senate and the House of Representatives .

In giving the request expeditious consideration , Senator Godswill Akpabio after reading the letter containing it , mandated the Senate Committee on Finance , National Planning and Economic Affairs to consider it at committee level and report back in one week.

Key parameters in the 2025 – 2027 MTEF/FSP documents needed for consideration and approval of the proposed N47.9trillion 2025 budget are ÷ $75 oil price benchmark per barrel, Daily Oil Production of 2.06 million barrels , Exchange Rate of N1,400 to $1 and targeted GDP Growth rate of 6.4%..

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President Tinubu in another letter to both chambers of the National Assembly , sought approval for Social Investment Programme Amendment Bill

The proposed amendment aims to strengthen the framework for implementing the government’s social welfare programmes, ensuring greater transparency and efficiency.

He explained further that the amendment seeks to designate the National Investment Register as the primary tool for targeting beneficiaries of social investment initiatives. This measure, he said, would ensure that welfare programmes are data-driven and deliver effective social protection to Nigeria’s most vulnerable citizens.

“The amendment will make our social and welfare programmes more transparent, efficient, and impactful in addressing the needs of vulnerable Nigerians,” he said

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He further noted that the request was made in accordance with Section 58(2) of the 1999 Constitution (as amended) and urged the Senate to give the bill urgent consideration.

The proposed amendment, if passed, will improve the management and delivery of social investment programmes, enhancing their capacity to combat poverty and inequality across the country. The Senate has referred the bill to relevant committees for review and is expected to deliberate on the proposal in subsequent sessions.

This development indicates that the Tinubu’s administration is committed to leveraging technology and data to optimize the impact of its social welfare initiatives.

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Zamfara Chairman’s Brother Dies From Gunshot Wounds Sustained During Bandit Attack

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Bello Abdullahi, elder brother of the abducted Chairman of Bungudu Local Government Area in Zamfara State, Nura Abdullahi, has died from gunshot injuries sustained during a bandit attack on the chairman’s residence.

The attack occurred on July 25 in Bungudu town, where armed bandits abducted the local government chairman and two other residents after killing four security personnel attached to him.

Bello, a former treasurer in the Zamfara State Ministry of Finance, was reportedly among residents who rushed to the chairman’s residence to assist during the attack when he was shot.

His death was confirmed on Monday by Jamilu Bungudu, a media aide to Abdulmalik Zubairu, who represents the Bungudu/Maru Federal Constituency.

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With Bello’s death, the number of people killed in connection with the attack has risen to five.

The local government chairman, Nura Abdullahi, and the two other abducted residents remain in captivity as of the time of filing this report.

The kidnapped victims were identified as Halliru Soja, a staff member of the Federal Medical Centre, Gusau, and Hussaini Naira, a Point-of-Sale operator.

The four security personnel killed during the attack were identified as Inspector Basiru Lawal, Police Constable Hamza Muhammad and two vigilantes, Nura ADC and Ibrahim Baare.

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Bungudu Local Government Area, located about 21 kilometres from Gusau, has experienced repeated attacks by armed bandits in recent years.

In April, gunmen reportedly riding more than 50 motorcycles attacked Yarkatsinan Laka village, killing two police officers, two health workers and a patient after raiding a security outpost and a clinic.

Other rural communities in the area, including Karakkai and Gwargwabe, have also suffered repeated attacks, with homes reportedly destroyed, residents killed and food storage facilities destroyed.

The continued violence has further worsened the humanitarian situation in communities across the local government area.

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Just in: Sultan of Sokoto denies approving TInubu for 2nd term

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The Media Team of the Sultan of Sokoto has denied reports claiming that the Sultan, His Eminence Alhaji Muhammad Sa’ad Abubakar, endorsed President Bola Tinubu’s re-election ahead of the 2027 presidential election.

In a statement issued on Tuesday and signed by Prince Bashir Adefaka, the media team described the reports circulating on some social media platforms as false, misleading and inconsistent with the Sultan’s longstanding non-partisan role.

According to the statement, it is impossible for the Sultan to publicly endorse any political candidate because of his position as a father figure to all Nigerians, regardless of political affiliation.

“Our simple response to the report is that it is not possible for the Sultan, as the father of all, to make such a statement, either publicly or in any other forum,” the statement read.

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The media team urged Nigerians to disregard what it called a malicious attempt to drag the revered traditional and religious leader into partisan politics for selfish interests.

It stressed that the Sultan’s role as both a monarch and religious leader requires him to remain impartial while offering guidance, prayers and fatherly counsel to all Nigerians, including politicians who seek his blessings.

The statement noted that the Sultan’s palace remains open to everyone without discrimination, irrespective of political, religious or ethnic background.

It further warned against linking the Sultan to the political ambitions or campaigns of any individual ahead of the 2027 general elections, insisting that such claims should be rejected.

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Reaffirming the Sultan’s commitment to national unity, the media team said he remains dedicated to promoting peace, stability and harmonious coexistence among Nigerians.

The statement also called on journalists and social media users to verify information before publishing or sharing reports capable of misleading the public or dragging traditional and religious institutions into political controversies.

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Pay Rise: Defence Minister Assures Tinubu Of Renewed Military Commitment

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The Minister of Defence, General Christopher Musa (Rtd), has expressed profound appreciation to President Bola Tinubu for approving a salary increase of between 30 and 80 per cent for personnel of the Armed Forces of Nigeria, describing the decision as a major boost to troop welfare and morale.

In a statement issued by his media aide, Leah Katung-Babatunde, the minister said the new salary structure, which takes effect from September 1, 2026, will benefit about 250,000 military personnel across the services.

Under the new package, personnel from the rank of Private to Staff Sergeant will receive an 80 per cent salary increase, those from Warrant Officer to Colonel will get a 50 per cent increase, while senior officers above the rank of Colonel will receive a 30 per cent pay rise.

General Musa said the structure of the salary review demonstrates the President’s commitment to prioritising the welfare of frontline troops.

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Describing the approval as a significant morale booster, the minister said it reinforces the Tinubu administration’s commitment to security sector reform.

“His Excellency, President Bola Ahmed Tinubu, has once again demonstrated unwavering leadership and empathy for the brave men and women who put their lives on the line daily to preserve the peace and territorial integrity of our nation. By raising the annual personnel cost from N660 billion to N924 billion, the President has matched words with concrete action, proving that the welfare of our troops remains paramount,” he said.

“This subversion of financial hardship for our officers and soldiers will resonate across every theatre of operation; from those confronting insurgency in the North East to troops tackling banditry, oil theft, and kidnapping across the country. On behalf of the entire defence structure, we assure Mr. President and the Nigerian public that this gesture will be met with renewed vigour, uncompromising discipline, and heightened operational effectiveness.”

The minister urged officers and men of the Armed Forces to regard the improved conditions of service as a renewed call to duty by intensifying efforts to neutralise security threats, protect civilian lives and restore peace across the country.

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He also reaffirmed the Ministry of Defence’s commitment to President Tinubu’s agenda of modernising military equipment, strengthening technological capacity and improving the welfare of military personnel and their families.

President Tinubu approved the salary increase in recognition of the sacrifices of military personnel in the fight against banditry, kidnapping and terrorism. The new salary structure, announced on Tuesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, raises the annual military wage bill from ₦660 billion to ₦924 billion.

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