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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.

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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.

READ ALSO: Turaki-led PDP begs Nigerians for another chance

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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ADC Southwest Leaders Demand Removal Of Aregbesola As Interim National Secretary

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Leaders of the African Democratic Congress, ADC, in the South West have asked the party’s national leadership to immediately remove Ogbeni Rauf Aregbesola as Interim National Secretary, accusing him of brazen constitutional violations that are threatening the party ahead of 2027.

The South West leaders, in a petition dated July 28, 2026, signed by state chairmen from across the zone and addressed to the National Chairman, said they resolved during an emergency meeting in Ibadan that Aregbesola’s conduct had plunged the ADC into avoidable crises.

According to DAILY POST, the copies of the letter signed by Olusoji Adebiyi, Ogun State Secretary; Abideen Okanlawon, Osun State Acting Chairman; Adesola Akitunde, Osun State Youth Leader; Yinka Olona, Oyo State Chairman; Adebimpe Adelowo, Oyo State member; Ilesanmi Olaiya, Ekiti State Chairman, among others, were copied to the National Working Committee (NWC), National Executive Committee (NEC), the party’s 2027 presidential candidate, the vice-presidential candidate, and the National Legal Adviser.

The chairmen alleged that Aregbesola created a parallel structure across South West states under the name “Omoluabi Progressive” and began parading officers of the splinter group as legitimate ADC executives from the ward to the state level, asserting that this directly contravenes the ADC constitution.

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They cited Article 22, Section 1 (2, 3, 8, 9, 10 and 11) of the party’s constitution, listing offences including breach of the constitution, acts likely to bring the party into disrepute, disobedience to lawful directives, creation of parallel organs, and collusion to convene unauthorised meetings.

The petitioners also accused the former Osun State governor of using his office to interfere in the party’s candidate selection process, alleging that on the last day for uploading National Assembly candidates, Aregbesola “colluded with some cohorts within INEC” to remove duly elected ADC candidates who emerged from INEC-monitored primaries and replace them with members of his Omoluabi Progressive group who never purchased nomination forms.

They also blamed Aregbesola for the lingering crises in Oyo, Ogun, Osun, Ekiti and Ondo states, alleging that he usurped the functions of the National Organising Secretary by appointing parallel primary election committees and submitting them to INEC.

Part of the petition reads:
“We, the undersigned State Chairmen of the South West Zone of the ADC, on behalf of the ADC South West Zonal Stakeholders, write to officially transmit our resolutions reached during the South West Zone emergency stakeholders’ meeting held on July 28, 2026, in Ibadan and equally request urgent action regarding the ceaseless, blatant violations and brazen breaches of our party’s constitution by OGBENI RAUF AREGBESOLA.

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“OGBENI RAUF AREGBESOLA acted directly in contravention of our great party’s constitution by creating parallel party structures across the South West states, including local government areas and wards, under the name and style of Omoluabi Progressive, and parading the so-called officers of this splinter group as the legitimate structures and officers of our great party across the South West, contrary to the provisions of the party constitution.

“His actions and activities do not in any way befit the status, carriage, disposition and character expected of any person occupying the high-ranking and sensitive position of National Secretary of a great party like the ADC.

“We equally learnt from reliable sources that OGBENI RAUF AREGBESOLA used his position as National Secretary to collude with some of his cohorts within INEC to, on July 14, 2026, the last day for uploading National Assembly candidates, unlawfully infiltrate the party’s system and fraudulently substitute the names of successful National Assembly candidates who emerged through INEC-monitored primary elections across the South West and other zones of the country with members of his Omoluabi Progressive splinter group, who did not even purchase nomination forms in the first place.”

The South West ADC leaders demanded that the coalition leadership review Aregbesola’s appointment and relieve him of his position, urging it to present a new, “competent, loyal and patriotic” replacement.

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“OGBENI RAUF AREGBESOLA is not fit to hold the position of Interim National Secretary. His continued stay in office will spell doom for the party.

“We therefore request the coalition leadership to review the appointment of OGBENI RAUF AREGBESOLA as Interim National Secretary, relieve him of this position, and request the APC extraction of the coalition to present a new, suitable person who is competent, loyal, amiable, patriotic and possesses the native intelligence required to lead the South West zone and the ADC to victory in 2027,” the petition added.

They urged the NWC and NEC to act urgently to stem the crisis and save the party ahead of the 2027 general elections.

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Explain Missing School Records In INEC Form – Buhari’s Ex-Minister Challenges Tinubu

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Former Minister of Sports, Solomon Dalung, has called on President Bola Tinubu to explain why the sections for his primary and secondary school qualifications were left blank in the personal particulars he submitted to the Independent National Electoral Commission (INEC) for the 2027 presidential election.

Dalung made the call in a post on his X account on Saturday while reacting to the nomination documents published by INEC.

According to him, his comments were based on the documents released by the electoral commission and should not be interpreted as an allegation against the President.

“I just read the published particulars of presidential candidates released by INEC for the 2027 election, and one thing immediately caught my attention,” Dalung wrote.

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He noted that Tinubu listed only his university degree while leaving the sections for his primary and secondary school qualifications blank.

The former minister said the omission raises questions that deserve clarification, stressing that public trust is strengthened through openness and transparency.

“If there is a perfectly reasonable explanation, Nigerians deserve to hear it. Public office, especially the presidency, is built on public trust. Trust flourishes where there is openness, not ambiguity,” he stated.

Dalung argued that the same standard of accountability demanded of other political actors should also apply to the incumbent president.

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He maintained that the issue was not whether Tinubu attended any particular primary or secondary school, but whether holders of public office should provide complete disclosures in official documents.

Dalung further stated that transparency remains the easiest way to address public concerns, adding that silence often fuels speculation.

“The same standard applied to every other candidate should apply to the incumbent President. No more, no less.

“The easiest way to put every question to rest is transparency. Silence rarely ends speculation; openness usually does,” he added.

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DAILY POST reports that Dalung’s remarks followed the publication of the personal particulars of presidential candidates by INEC on Saturday.

A review of Tinubu’s EC9 nomination form showed that the President listed only a Bachelor of Science degree in Business Administration obtained from Chicago State University in 1979 under the educational qualifications section, while the spaces provided for his primary and secondary school qualifications were left blank.

The President, however, attached copies of his university degree certificate and National Youth Service Corps (NYSC) certificate as part of the supporting documents submitted to INEC.

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Why I Need To Go Beg God — Ex-JAMB Registrar

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Former Registrar of the Joint Admissions and Matriculation Board (JAMB), Prof. Ishaq Oloyede, has said he will return to teaching and religious activities after completing his tenure at the board, revealing that one of his priorities is to seek God’s forgiveness after spending 10 years in public office.

He made the disclosure while handing over to his successor, Prof. Segun Aina, during an event on Friday.

Oloyede also defended the board’s decision to impose a three-year ban on a 2023 Unified Tertiary Matriculation Examination (UTME) candidate, Mmesoma Ejikeme, over the manipulation of her examination result.

According to him, his years in office exposed him to situations that tested his personal values and spiritual life, leaving him convinced that he now needs time for reflection, repentance and renewed commitment to his faith.

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Speaking at the handover ceremony, Oloyede said he would return to the classroom and devote more time to his religious activities after leaving office. He explained that his decade in public service had affected certain aspects of his spiritual life and personal principles, making it necessary for him to seek God’s forgiveness and accept responsibility for actions taken while in office.

Reflecting on his tenure, Oloyede credited the achievements recorded by JAMB to the dedication and cooperation of the board’s workforce.

He also expressed confidence that the new registrar would build on the reforms implemented during the past decade, saying the successes achieved during his administration were made possible through the collective commitment and hard work of JAMB staff. He added that he was optimistic Prof. Aina would take the board to greater heights.

Oloyede also revisited the controversy involving Mmesoma Ejikeme, maintaining that JAMB acted appropriately when it sanctioned the candidate after discovering that her UTME score had been altered from 249 to 362. He said the board’s action was aimed solely at protecting the integrity of its examination process.

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He described Mmesoma as “our daughter” and said the board handled the matter like a responsible parent correcting a child rather than acting out of malice.

Oloyede said the board harboured no ill feelings towards the candidate, adding that its only regret was that she altered her result. He noted that although many Nigerians were initially misled into believing her claims, those who supported her accepted the truth once the facts emerged.

He further expressed regret that many people initially believed the false narrative surrounding the case because parents naturally want to trust their children. However, he said the eventual revelation of the facts vindicated JAMB’s position and affirmed the board’s actions.

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