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2025 Budget: Increased Oil Production and Key Indices to Boost Revenue, Cut Debt Service – Edun

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…as Reps committee summon MD NPA to appear on Tuesday
By Gloria Ikibah

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has informed the House of Representatives that there are positive signs pointing to improved economic performance for Nigeria in 2025.

Edun made this statement on Monday while presenting an overview of the proposed 2025 budget and the Medium-Term Expenditure Framework and Fiscal Strategy Paper.

Before his presentation, the Chairman of the House Committee on National Planning and Economic Development, Rep. Ibrahim Ayokunle Isiaka, who presided over the session, requested an update on the economy’s current state and future projections.

He said: But briefly, as we have said, what is the state of our economy, number one, as in our finances? Then, number two, in terms of our revenue so far, with the projections we have for 2025.

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“Let us have an insight into the previous [years], into whether we are looking good, especially in terms of our GDP and inflation rates as submitted. So that we can note all this down and submit our report.”

In response, Edun expressed optimism about the economic outlook, citing projected revenue growth and measures aimed at addressing past challenges.

“We do have market pricing and foreign exchange.

“That has resulted in a situation whereby upwards of 5% of GDP has been lost to a plurality of factors benefiting just a few and created long-sighted incentives against growth and investment”, Edun explained.

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He emphasized that increased revenue would help reduce debt servicing, lower borrowing, and improve overall economic competitiveness.

“The deficit of that increase, which we hope to achieve less, but right now we are assuming is about 9.3 trillion naira in new borrowings and the debt service of about two trillion naira.

“In a nutshell, that backdrop gives you the optimism that the 2025 budget estimates, particularly the one on revenue, will be achieved and the economy will be strong. It will fast up to an inclusive and sustainable growth”, he added.

Earlier, the Chairman, House Committee on Finance, Rep. James Abiodun Faleke, emphasized the importance of reviewing the revenue performance of ministries, departments, and agencies (MDAs) for the 2024 budget in preparation for 2025.

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“We are now in December. By now, the agencies should be able to provide us with what revenue we have generated between last year and November,.

“At least for 11 months, we should be able to have that. We are just interested in what revenue we are able to get. Apart from that, we also want to see the expenditures as it works. Apart from those who have some levels of percentage collection, we are interested in whether agencies are able to do that”, ” Faleke stated.

Meanwhile, the Committee has summoned the Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, to appear before it on Tuesday, December 10, 2024.

Rep. Faleke issued this directive after turning back Dantsoho’s representative, Sabiu Musa Danbatta, who had informed the Committee that the MD/CEO was on a special assignment and unable to attend.

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Igbale community petitions police over alleged harassment, land dispute involving Lere Oni

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By Austin Ojomah

Members of Igbale Community in Ikole-Ekiti, Ekiti State, have petitioned the Nigeria Police Force over allegations of harassment, threats and disturbance of peace involving one Mr Lere Oni.

The petition, signed by the Igbale-in-Council and concerned members of the community, was addressed to the Divisional Police Officer (DPO), Ikole Division, and urged the police to investigate the allegations and take necessary steps to prevent a breakdown of law and order.

The community alleged that Oni had on several occasions visited their family farmland, known as Ugbo Omo Farm, accompanied by individuals described as touts, where he allegedly harassed and intimidated tenants occupying and working on the land.

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According to the petition, the affected tenants had complained of threats and actions capable of disrupting their farming activities.

The community further alleged that Oni had ignored interventions and warnings from elders and the Sagbale-in-Council, the recognised leadership body of Igbale Community, despite efforts to resolve the matter peacefully.

“We are law-abiding citizens who believe strongly in peaceful coexistence and respect for constituted authority,” the petition stated, adding that the alleged activities were causing distress among residents and raising concerns over public safety.

The community requested that the police invite Oni for questioning, investigate the allegations and take appropriate lawful action to prevent further tension.

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The petition also referenced a previous complaint submitted to the Elekole of Ikole-Ekiti in 2015 over alleged cases of hooliganism and disturbances within the community.

In that earlier appeal, community leaders accused some individuals, including Lere Oni and another person identified as Jimoh Oloodan, of engaging in activities that allegedly threatened peace in Igbale and its surroundings.

The community leaders called for intervention from traditional authorities and security agencies to restore peace and ensure harmony among residents.

Reacting to the development, a media practitioner and politician, Mr Sanni Kayode Arewa, accused Oni of allegedly engaging in activities that he said had negatively affected the community.

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Arewa alleged that Oni had been involved in the sale of lands belonging to his family and other members of the community, warning prospective buyers to be cautious.

“Lere has sold all the land belonging to his family, and I have called him several times to remember what his children and future generations will inherit. It is unfortunate that after selling his family land, he is now coming to other families’ lands and attempting to sell them,” Arewa said.

He further alleged that Oni lacked the background and skills required to contribute positively to the community, claiming that his activities had created concerns among residents.

“How can someone who has no value terrorise a whole community? This kind of situation must stop,” he added.

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Arewa also criticised the handling of the matter by some security officials, alleging that the process had not been fair to community leaders.

He claimed that during a meeting involving the police, Oni and community representatives, the community chiefs arrived on time but Oni arrived later after being contacted by officers.

“The chiefs got there before 12 noon waiting for him, but he did not come until after 2pm when police officers called him. This is not the kind of attitude expected in a serious matter like this,” he alleged.

Arewa called on authorities to ensure that the dispute was handled transparently and urged land buyers to verify ownership before purchasing property in the disputed areas.

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“People buying land from Lere Oni and Tuba ‘Big Tree’ should be careful so they do not waste their money buying lands in Ugbo Omo and other areas around the Ikole-Ara road,” he said.

However, the allegations against Oni remain claims by the petitioners and have not been independently verified. Efforts to obtain a response from Oni were not successful as of the time of filing this report.

The community said it remains committed to peaceful resolution while calling on security authorities to intervene and ensure that law and order are maintained in Igbale.

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Yemi Amodu Accepts Role as TAMPAN National Secretary, Reaffirms Commitment to Industry Reform*

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By Kayode Sanni-Arewa

Veteran filmmaker, cultural advocate, and respected voice in Nigeria’s creative industry, Yemi Amodu, has formally accepted the position of National Secretary of the Theatre Arts and Motion Pictures Practitioners Association of Nigeria (TAMPAN).

This heroic announcement follows his earlier aspiration for the presidency of the association; a role he had vigorously campaigned for.

In a declaration titled “The Dream Lives On… Why I Accept the Call to Serve”, widely circulated across online and mainstream media, Amodu explained that his vision for a stronger, more inclusive TAMPAN remains unchanged. While his path has shifted from the presidential race to the Secretariat, he emphasized that the ultimate destination is the same, building a better, more united association.

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“The presidency was one path. The Secretariat is another. But the destination is the same… A better TAMPAN,” Amodu stated.

Championing the “Below-the-Line” Professionals
Amodu underscored that his decision was motivated by a desire to amplify the voices of “below-the-line” professionals, the makeup artists, grips, costume designers, actors, and crew members whose contributions are vital yet often overlooked.

He pledged to represent their interests in leadership discussions, advocating for welfare, equity, and dignity across the creative workforce.

“Not for title. Not for position, but for you… I will do all it takes to ensure your interests are secured,” he affirmed.

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Acknowledging the importance of unity and peace within TAMPAN, Amodu reassured members that his reform agenda is alive, though now expressed through a different office. He stressed that his commitment is to continue building hope, strengthening structures, and ensuring that every member, across all states, feels represented and empowered.

His announcement has sparked conversations within Nigeria’s creative community, with many stakeholders viewing the move as a strategic step to sustain his vision while reinforcing the association’s foundation.

Observers note that Amodu’s acceptance of the Secretariat role demonstrates both humility and determination, positioning him as a bridge-builder in an industry that thrives on collaboration.

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BREAKING: Abuja in panic mode as explosion hits Apo bridge axis

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There was confusion around the Apo Bridge axis of the Federal Capital Territory on Thursday night after an explosion occurred near Shafa Filling Station, close to Rita Lori Hotel in the Garki axis of Abuja.

The explosion, which was said to have occurred at about nightfall, sent motorists, traders and residents scampering for safety amid fears that it could be a bomb explosion.

An eyewitness, Jason Akande, said he heard several loud bangs in quick succession, describing the incident as frightening.

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“It suddenly exploded. At first, I thought it was a bomb blast because I counted about seven explosions,” he said.

Following the incident, emergency responders from the Federal Fire Service and the FCT Fire Service arrived at the scene and immediately commenced efforts to contain the fire and prevent it from spreading to nearby structures.

As of the time of filing this report, authorities had yet to determine the cause of the explosion, while there was no official confirmation of any casualty or the extent of damage.

Security operatives and emergency officials remained at the scene, with residents advised to keep away from the affected area to allow rescue and firefighting operations to continue.

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