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Just in: FEC endorses upward review of 2026 Budget from N54.5 trillion to N58.47 trillion
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…as TInubu presents budget to NASS
President Bola is presenting the 2026 budget to a joint session of the National Assembly.
Key officials of the National Assembly, including Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, and the National Chairman of the All Progressives Congress (APC), among others, are present at the event.
This is just as the Federal Executive Council has approved an upward review of the 2026 budget from ₦54.5 trillion to ₦58.47 trillion.
The approval was given during the emergency FEC meeting chaired by President Bola Tinubu at the Council Chamber of the State House, Abuja.
Briefing State House Correspondents shortly after the meeting, the Director General of Budget, Tanimu Yakubu, said the 2026 appropriation bill was six per cent higher than the 2025 budget estimate.
He said the expenditure includes projected spending of government owned Enterprises, amounting to ₦4.98 trillion, and ₦1.37 trillion for grants and donor-funded projects.
He explained that the projected aggregate spending includes statutory transfers of ₦4.1 trillion, debt service of ₦15.52 trillion, including ₦388.54 billion naira for the sinking fund to retire maturing bonds issued local contractors and creditors, personnel cost, including pension, ₦10.75 trillion naira, which includes ₦1.02 trillion for government owned enterprises, and seven per cent higher than the 2025 provision.
“Overhead cost ₦2.22 trillion, capital expenditure ₦25.68 trillion, 1.8 per cent lower than the 2025 capital provision, reflecting a more conservative approach to capital planning and the focus on completing ongoing projects.
“Capital allocation priorities include MDS ₦11.3 trillion, multilateral and bilateral loans ₦ 2.052 trillion, capital component of the development levy: ₦1.8 trillion,” he further explained.
According to Yakubu, the 2026 budget reflects a deliberate balance between macroeconomic stabilisation and development imperatives and the medium-term fiscal framework.
He said the budget assumptions are conservative and realistic, particularly on oil price, exchange rate, and government-owned enterprises’ dividends.
“The revenues decline year on year, but non-oil revenues now account for roughly two-thirds of total receipts, confirming a structural shift away from oil dependence. Corporate tax, vat, customs, and independent revenues remain the main fiscal anchors.
“Expenditure growth is driven primarily by debt service, wages, and pensions rather than discretionary expansion.
“Capital spending is marginally reduced to prioritise completion of ongoing projects and value for money.
“The larger deficit reflects rather than policy loosening. Financing relies on domestic borrowing, complemented by concessional multilateral loans,” Yakubu said.
Speaking earlier, the Minister of Budget and Economic Planning, Atiku Bagudu, said FEC also amended the Medium Term Expenditure Framework (MTEF).
He also noted that a downward revision of the exchange rate from ₦1,512 to ₦1,400 was considered.
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Tinubu’s assent to FMC Oleh Bill ends decades of federal neglect, says IDU President
The President of the Isoko Development Union (IDU), Prof. Chris Akpotu, has described President Bola Tinubu’s assent to the bill establishing the Federal Medical Centre (FMC) in Oleh, Delta State, as a historic milestone that ends decades of perceived federal neglect of the Isoko people.
Speaking on AIT’s Kaakaki programme on Thursday, Akpotu said the approval of the FMC had given the Isoko nation a renewed sense of belonging in the Nigerian federation after years of lacking meaningful federal presence.
He expressed appreciation to President Tinubu for signing the bill into law, saying the gesture had restored hope among the people of Delta South Senatorial District, particularly the Isoko ethnic nationality.
“This is one moment the people of Delta South Senatorial District, especially the Isoko people, will continue to celebrate because it reflects our long history of deprivation,” he said. “For once, we have been made to believe that we truly belong to the Federal Republic of Nigeria and now have a reason to celebrate federal presence in our land.”
Akpotu also commended Senator Joel-Onowakpo Thomas, who represents Delta South Senatorial District, for sponsoring the bill, describing him as an effective representative who understood the developmental needs of his constituents.
He further praised the Nigerian Senate for passing the legislation and acknowledged the role played by lawmakers in ensuring its eventual assent by the President.
“When the bill was passed by the Senate, we hoped it would not end like many others that never received presidential assent. We thank God that President Tinubu renewed our hope by signing it into law,” he said.
According to the IDU president, the establishment of the Federal Medical Centre would significantly improve healthcare delivery in Delta South while creating employment opportunities during its construction and subsequent operation.
He noted that beyond providing quality healthcare services, the hospital would generate jobs for construction workers, medical professionals and other support staff, thereby boosting the local economy.
Akpotu lamented that despite Isoko’s enormous contribution to Nigeria’s economy through oil and gas production, the ethnic nationality had received little in terms of federal appointments and infrastructure over the years.
“You cannot discuss Nigeria’s GDP or foreign reserves without acknowledging the contributions of the Isoko people. Yet, for decades, we have had little or no federal presence to celebrate,” he said.
He added that the people had neither produced a minister nor headed major federal agencies such as the Niger Delta Development Commission (NDDC), making the establishment of the FMC particularly significant.
The IDU president appealed to President Tinubu to facilitate the immediate commencement of construction work on the project to ensure that the benefits of the legislation are quickly realised.
He assured that the Isoko Development Union would continue to engage relevant stakeholders to ensure the successful implementation of the project.
“We appeal to Mr. President to ensure early commencement of construction so that this historic gesture translates into tangible benefits for our people. The IDU will continue to work with all stakeholders to ensure the project comes to fruition,” Akpotu said.
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If Umahi’s daughter was found naked and dead in a poor man’s house Nigeria would’ve been on fire-Dalung
Ex- Minister of Youth and Sports, Barrister Solomon Dalung, has criticised what he described as double standards in the investigation into the death of physiotherapist Mary Habila, saying the public response would have been entirely different if the victim had been the daughter of a government official
Dalung made the remark while reacting to the controversy surrounding Habila’s death at the country residence of the Minister of Works, David Umahi, in Uburu, Ohaozara Local Government Area of Ebonyi State.
Speaking in a video shared on social media, the former minister questioned the pace and manner of the investigation, arguing that ordinary Nigerians are often subjected to harsher scrutiny than powerful public office holders.
“If Umahi’s daughter had been found naked in a poor man’s house, Nigeria would be burning,” Dalung said, suggesting that the circumstances surrounding Habila’s death would have attracted a different level of public outrage and official response if the roles had been reversed.
Mary Habila, a 26-year-old physiotherapist from Kaduna State, was found dead at Umahi’s residence on June 27, 2026. She was reportedly attached to the David Umahi Federal University of Health Sciences and had been seconded to the Federal Ministry of Works.
Umahi has since confirmed the incident, describing Habila as a dedicated member of staff who had worked with him for about three years. He said emergency medical personnel were contacted immediately after she was found unresponsive and disclosed that he advised the family to consent to an autopsy to determine the exact cause of death.
The minister has repeatedly denied allegations of any cover-up, insisting that he has nothing to hide and supports a thorough investigation into the circumstances surrounding the physiotherapist’s death.
Meanwhile, the Nigeria Police Force transferred the case to the Ebonyi State Criminal Investigation Department (CID) for further investigation, as public interest in the incident continues to grow.
Dalung’s remarks add to the increasing calls for transparency and accountability in the investigation, with many Nigerians demanding that the case be thoroughly investigated and that its outcome be made public regardless of the status of those involved.
News
DAY 27 of Projects Commissioning and Flag-Off in the FCT
Launch of the Sales Office/Experience Centre: The Abuja City Walk Development
#FCTProjects2026
#FCT31DaysCommissioning
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