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2024, 2025 budgets: Tinubu wants approval to spend N43.56tr
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President Bola Ahmed Tinubu has asked the National Assembly to consider and pass a new N43.56 trillion Appropriation (Repeal and Re-enactment) Bill for the 2024-2025 fiscal period.
The move is aimed at ending the practice of running multiple budgets concurrently and strengthening accountability in public finance management.
In a letter transmitted to both chambers of the legislature, the President explained that the proposed legislation would reset the federal budgeting framework by harmonising appropriations for the two fiscal years and consolidating emergency expenditures undertaken in the national interest.
According to him, the harmonisation would also ensure the delivery of what he described as “unprecedentedly high” capital performance across the 2024 and 2025 budget cycles.
The request comes on the eve of the President’s scheduled presentation of the 2026 Appropriation Bill to a joint session of the National Assembly.
A breakdown of the harmonised 2024-2025 proposal underscores the administration’s focus on infrastructure development and growth-enhancing investments.
The Bill seeks authorisation to draw N43.561 trillion from the Consolidated Revenue Fund of the Federation.
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This comprises N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent non-debt expenditure, and N22.28 trillion for capital expenditure and development fund contributions.
President Tinubu said the reworked budget framework would ensure an orderly and constitutionally grounded consolidation of critical, time-sensitive expenditures already undertaken in response to emergency exigencies, including those related to national security and citizens’ welfare.
He noted that the approach balances responsiveness with fiscal discipline, while closing loopholes that have historically undermined effective budget implementation.
The President also highlighted far-reaching safeguards embedded in the Bill to tighten spending controls.
These include strict application of released funds to purposes specified in the budget schedules, limits on virement without prior approval of the National Assembly, and clearly defined conditions for corrigenda where genuine errors threaten implementation.
In addition, the Bill mandates the separate recording of excess revenue and restricts its expenditure strictly to acts or approvals of the National Assembly.
It also reinforces due-process compliance and requires periodic reporting on fund releases, agency revenues and external assistance.
President Tinubu said the measures were designed to deepen transparency, enhance legislative oversight and restore confidence in the federal budget process.
The Senate considered and passed the Bill for second reading after the President’s request was read by Senate President Godswill Akpabio.
The Bill was subsequently referred to the Senate Committee on Appropriation for further legislative work, with a directive to report back to plenary as soon as practicable.
Indications also emerged that the President would present the 2026 Appropriation Bill to a joint sitting of the National Assembly tomorrow.
A formal communication from the Presidency is expected to be read during plenary.
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A separate notice to the National Assembly community, dated December 17, 2025, and signed by the Secretary, Human Resources and Staff Development, Essien Eyo Essien, on behalf of the Clerk to the National Assembly, Kamoru Ogunlana, confirmed that the President is expected to arrive at 2:00 p.m.
The letter, copied to the Clerks of the Senate and House of Representatives, their deputies and heads of departments, outlined security and access arrangements for the day.
It directed all accredited persons to be at their duty posts by 11:00 a.m., noting that access to the National Assembly complex would be restricted thereafter, while non-accredited persons were advised to stay away.
Staff members, except the Clerk, Deputy Clerk, clerks of both chambers and their deputies, were also instructed to park their vehicles at designated areas at the Annexe or the new car park by the National Assembly Service (NASS) Gate.
The annual budget presentation marks the formal transmission of the Federal Government’s fiscal proposals to the legislature for consideration and approval.
Ahead of the presentation, the House of Representatives is expected to pass the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) today.
The document was passed by the Senate on Tuesday following the consideration of a report by its Committees on Finance, presented by the committee chairman, Senator Mohammed Sani Musa.
The 2026–2028 MTEF-FSP approved by the Senate projects a total federal budget size of N54.46 trillion for 2026, comprising retained revenue of N34.33 trillion and new borrowings of N17.88 trillion from domestic and external sources.
Other projections include debt service of N15.52 trillion; pensions, gratuities and retirees’ benefits of N1.376 trillion; a fiscal deficit of N20.13 trillion; capital expenditure of N20.131 trillion; statutory transfers of N3.152 trillion; a sinking fund of N388.54 billion; and recurrent non-debt expenditure of N15.265 trillion.
The Senate approved an oil benchmark of $60 per barrel for the 2026 budget, down from an earlier projection of $64.85 per barrel, while endorsing benchmarks of $65 and $70 per barrel for 2027 and 2028, respectively.
The committee explained that the conservative adjustment for 2026 was necessitated by heightened geopolitical tensions in Europe and the Middle East, as well as persistent volatility in the global oil market.
Crude oil production was projected at 1.84 million barrels per day (mbpd) for 2026, rising to 1.88mbpd in 2027 and 1.92mbpd in 2028.
The exchange rate was anchored at N1,512 to the dollar for 2026, with projections of N1,432.15 and N1,383.18 for 2027 and 2028.
Inflation was projected at 16.5 per cent in 2026, 13 per cent in 2027 and nine per cent in 2028, while real GDP growth was estimated at 4.68 per cent, 5.96 per cent and 7.9 per cent over the three years.
Minister of Finance and Coordinating Minister for the Economy, Dr Olawale Edun, said the government’s focus under the MTEF was on strengthening revenue generation rather than increasing borrowing.
“The emphasis is squarely on revenue generation,” Edun said.
Minister of Budget and National Planning, Atiku Bagudu, said the MTEF-FSP was developed through extensive consultations with government agencies, the private sector, civil society and development partners.
He urged revenue-generating agencies to improve performance.
News
ACIPA Backs Ibrahim Khalid’s Conversion to Christianity, Warns Against Threats
By Gloria Ikibah
The Arewa Christians and Indigenous Pastors Association (ACIPA) has affirmed its support for the reported conversion of Ibrahim Nuru Khalid, son of prominent Islamic cleric Sheikh Mohammad Nuru Khalid, to Christianity, saying his choice of religion is protected by the Nigerian Constitution.
The association said Ibrahim had the constitutional right to choose and change his religion and must not be threatened, intimidated or punished for exercising that right.
In a statement issued by the National Chairman of the Arewa Christians and Indigenous Pastors Association, Rev. Luke Shehu, on Wednesday, September 2, 2026, ACIPA said it had been informed of the reported conversion of Ibrahim and expressed solidarity with his father, Sheikh Mohammad Nuru Khalid.
The association described Sheikh Mohammad Nuru Khalid as a respected Islamic cleric and recalled that he was a recipient of ACIPA’s Special Merit Award of Excellence for his consistent messages of peaceful coexistence, justice and nation-building.
“His voice has been a bridge in a time of division,” he said.
On Ibrahim’s reported conversion, ACIPA said, “the choice of religion is a personal matter between an individual and God, the Creator.”
It cited Section 38 of the Constitution of the Federal Republic of Nigeria 1999, as amended, which guarantees freedom of thought, conscience and religion.
“This includes the freedom to change one’s religion,” ACIPA said, stressing that “No Nigerian can be forced, coerced, or punished for the exercise of this constitutional right.”
The association also condemned any threats of violence against Ibrahim because of his reported decision to become a Christian.
It said it was formally notifying relevant security agencies and called on them to take immediate and decisive action against anyone who attempted to harm, intimidate or harass Ibrahim.
“We strongly condemn and warn against any individual, group, or entity that makes threats of violence, jihad, or any form of harm against Ibrahim Nuru Khalid on account of his personal faith decision.
“The life and liberty of every Nigerian must be protected by law,” ACIPA said.
ACIPA also appealed to Christians to handle the development with restraint, urging both clergy and lay Christians to pray for Ibrahim, his safety, his family and peace in Nigeria.
It cautioned against statements that could provoke Muslims or portray the reported conversion as a victory over Islam.
“We urge restraint from frivolous, provocative, or triumphalist statements against Islam or Muslims.
“Our witness must be one of love, dignity, and truth, not of insult or incitement,” ACIPA said.
The association equally appealed to Muslim leaders and communities to uphold what it described as the long-standing tradition of mutual respect advocated by Sheikh Mohammad Nuru Khalid.
ACIPA stressed that the issue should not be allowed to trigger religious tension or undermine the supremacy of the Nigerian Constitution.
“We appeal to all Muslim leaders and communities to uphold the long tradition of mutual respect that Sheikh Nuru Khalid himself has preached.
“Nigeria is a secular, constitutional democracy. We must not allow this moment to be misused to create tension or to test whether we operate under the supremacy of the Nigerian Constitution or any other law,” the association said.
The group said its position was based on the principle that every Nigerian should be free to determine his or her faith without fear.
“ACIPA stands for the right of every Nigerian to live, believe, and worship without fear,” it said.
The association warned against any attempt to impose different standards of law based on religious affiliation.
“We will not accept a situation where Nigeria operates a “dual constitution”. Our nation is governed by one law: the Constitution of the Federal Republic of Nigeria.”
ACIPA therefore called on the Federal Government, state governments, traditional rulers and religious leaders to work together to douse tension and protect peace.
It also prayed for Ibrahim Nuru Khalid, Sheikh Mohammad Nuru Khalid and his family, as well as peace in Arewa and Nigeria.
Naijablitznews.com reports that the Arewa Christians and Indigenous Pastors Association (ACIPA) is a non-governmental religious advocacy group representing Christian clergy and indigenous Christian communities in Northern Nigeria.
Its core focus us advocating for the rights, social justice, and welfare of Northern Christians, promoting interfaith peace, and addressing issues of security and development in the region.
News
Fake Agency: Reps Trace 58 Bank Accounts, 12 Entities to Adeyemi Over Alleged PFIPC
By Gloria Ikibah
The House of Representatives Adhoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has traced about 58 bank accounts to Prince Adeniyi Adeyemi, with preliminary findings indicating that more than 30 of the accounts were operated in the names of about nine agencies, companies, foundations and related entities.
The committee also identified more than 12 organisations and entities allegedly linked, directly or indirectly, to Adeyemi, raising questions about a possible network of organisations operating under governmental, international, investment, educational, charitable, foundation and United Nations-related identities.
Chairman of the committee, Rep. Yusuf Gagdi, disclosed the findings on Wednesday in Abuja while presenting the panel’s preliminary report on the need to protect the integrity of the Federal Budget process.
The investigation is also examining the circumstances surrounding the inclusion of the purported PFIPC in the Federal Budget Framework.
Gagdi said information obtained from financial and investigative institutions indicated that Adeyemi’s Bank Verification Number (BVN) and other identifying details were connected to a substantial network of personal, corporate, organisational and foundation accounts.
The names linked to the records, according to the committee, include the Confederation of United Nations Youths, FCT Investment Promotion Agency and Public-Private Partnership, FCT Investment Promotion Council and Public-Private Partnership, Foreign Investment Promotion Agency, United Nations Youth Global Agency, United Nations Youth Global Foundation, World United Nations Youth Global Foundation, World Entrepreneurship University Limited, World Enterprise University Limited, FCT Investment Promotion Act, FCT Promotion Agency and Olubadan of Ibadan Foundation.
Gagdi said some of the entities appeared to operate multiple accounts, while other accounts were registered under personal names or variations of the identified names.
He, however, stressed that the committee had not reached a conclusion that every account, entity or transaction identified in the course of the investigation was unlawful.
“The Committee is reconciling registration records, account mandates, beneficial ownership information, signatories and transaction histories to determine the true nature and control of the identified entities and accounts,” he said.
According to the committee, similarities in the names, objectives, management structures, signatories and banking relationships of some of the organisations had created a legitimate basis for further investigation.
The panel is investigating whether multiple organisations were created or deployed using governmental, international, investment, educational, charitable, foundation or United Nations-related identities.
Gagdi said evidence before the committee indicated that Adeyemi might be connected, either directly or indirectly, to more than 12 of the entities under investigation.
He said the committee was examining whether the organisations were established or used to create artificial credibility, solicit funds, attract investments, obtain official recognition, secure government facilities or persuade members of the public to part with money.
The committee chairman further disclosed that members of the panel had met Adeyemi behind closed doors as part of the investigation, although he declined to reveal details of the meeting.
Gagdi also reiterated that Adeyemi could not be brought before the committee because of a court order keeping him in police custody. He did not provide further details about the order or the circumstances surrounding the custody.
Naijablitznews.com recalled that the House constituted the Adhoc Committee following the adoption of Resolution No. 68/07/2026 on Wednesday, July 8, 2026.
The resolution followed reports concerning the purported establishment and operation of the PFIPC, as well as its alleged inclusion in the Federal Budget Framework.
The House said its action was taken in exercise of its constitutional powers of appropriation, oversight and investigation, particularly in view of concerns surrounding the identity, operations and budgetary status of the purported council.
News
Shettima @60: Speaker Abbas Hails VP’s Service, Loyalty to Tinubu
By Gloria Ikibah
The Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas has congratulated Vice President Kashim Shettima on his 60th birthday, describing him as a dedicated public servant and a strong ally of President Bola Ahmed Tinubu.
In a congratulatory message issued on Wednesday by his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, Speaker Abbas praised Shettima for his commitment to democracy and public service.
The Speaker described the Vice President’s loyalty to President Tinubu as exemplary, saying his record in public office had prepared him for the responsibilities of his current position.
Speaker Abbas eulogised Shettima as a leader of exceptional qualities and described him as one of the most patriotic Nigerians alive.
He also commended the Vice President for his contributions to the Tinubu administration, noting that his experience and achievements in previous public offices had continued to strengthen his performance as Vice President.
According to the Speaker, Shettima’s experience as governor of Borno State, senator and in other public positions had made him one of the most experienced public servants in government today.
The statement read: “The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, Ph.D., GCON, has extended his congratulations to the Vice President, Senator Kashim Shettima, GCON, on the occasion of his Diamond Jubilee, praising the VP’s steadfast commitment to democracy and devoted public service.”
Speaker Abbas described Senator Shettima as a “reliable ally to President Bola Ahmed Tinubu, GCFR, praising his loyalty as exemplary and worthy of emulation.”
The Speaker further said Senator Shettima “continues to be one of the most patriotic Nigerians alive,” while highlighting his “invaluable contributions” to the Tinubu administration.
On the 2027 presidential election, Speaker Abbas expressed confidence in the APC ticket, following the decision by President Tinubu to retain Shettima as his running mate.
“With Senator Shettima returning as President Tinubu’s running mate in the 2027 presidential election, the ruling All Progressives Congress (APC) ticket is a winning one”, he said
The Speaker also prayed for the Vice President’s continued good health and longevity.
He prayed to Allah (SWT) “to grant Senator Shettima mercy, grace, longevity, and good health so he can continue contributing value to the Tinubu administration and the nation as a whole.”
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