News
NASS to meet President on security funding, review envelope budgeting system
The National Assembly has disclosed plans to engage President Bola Ahmed Tinubu over persistent funding challenges facing security and intelligence agencies, particularly the non-release of capital allocations in the current fiscal year.
Speaking after close door deliberations with key security and intelligence institutions, the Chairman of the National Intelligence committee, Senator Yahaya Abdullahi acknowledged that the issue of non-release of capital funds is not limited to defence and intelligence agencies but affects Ministries, Departments, and Agencies (MDAs) across the board.
He stated that after receiving reports from relevant committees, the committee will convene to develop comprehensive solutions to address the funding gaps, especially within the context of the 2026 fiscal year.
Yahaya emphasized that following the President’s declaration of a national emergency on security, such a pronouncement must be supported with adequate funding to ensure it does not become merely symbolic.
“President Tinubu had declared that emergency, and therefore, if there is an emergency, there should be funding to back up that emergency. So we will have to come up strategy to ensure that the words and declaration of the President does not go out in vain.
“We will sit down even it means going through the leadership to meet Mr. President, to take the plight of the security and intelligence agencies into account and report directly to him so that appropriate steps are taken to ensure that the agencies are given enough funds to pursue their constitutional responsibilities”
He noted that security agencies require sufficient financial backing to effectively carry out their constitutional responsibilities.
According to the lawmaker, 2026 represents a critical year for Nigeria’s democracy, particularly in view of the prevailing security situation. He warned that failure to properly fund security institutions could pose significant challenges as the country approaches the next general elections.
He disclosed that they may formally approach the President, through its leadership, to present the concerns and recommendations of both chambers in a unified manner.
On the controversial “envelope budgeting system,” the Chairman expressed strong reservations, describing it as outdated and no longer reflective of present national realities. He noted that the system, introduced during the administration of former President Olusegun Obasanjo amid fiscal constraints caused by declining oil revenues, was designed as a temporary measure.
“This envelope system, you know, was developed years ago,when I was in the civil service. And I think it has outlived its usefulness for me, personally, it is my own opinion.
“You know, we are not budgeting on needs. We are just budgeting on money, but it’s not the issue of less money, the needs of the institutions and the priorities that we have that we should fund, not just to give people money and say, Okay, go and share” he said
However, he argued that current national challenges demand a needs-based budgeting framework rather than allocations driven strictly by pre-set financial ceilings.
He noted that the committee would engage the Federal Ministry of Finance and the Budget Office of the Federation to reassess the continued relevance of the envelope system and explore reforms that align budgetary allocations with national priorities.
He also noted that the committee have concluded their preliminary reviews and are preparing formal reports for submission to the Appropriation Committee and the leadership of the National Assembly for further action.
President Bola Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion.
He also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
This was announced on Friday in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga.
The ₦68.32 trillion budget for this year earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service.
It allocates ₦15.4 trillion to recurrent expenditure and ₦32.2 trillion to the Development Fund for Capital Expenditure.
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians,” the statement read in part.
The President also has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
The extension, the statement revealed, would ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
It will enable ministries, departments, and agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure. With the 2026 Appropriation Act coming into force on April 1, the Federal Government will commence full implementation in line with the Renewed Hope Agenda,” it added.
Additionally, President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.
He commended the National Assembly for its diligence, cooperation, and patriotism in expeditiously considering and passing the budget.
The President reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development objectives.
Tinubu also assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.
The budget is also expected to be partly financed through external borrowing, following the approval of a foreign loan plan exceeding $21 billion to bridge the fiscal gap.
₦9.85trn Increase
The 2026 budget represents an increase of ₦9.85 trillion over the initial proposal of ₦58.47 trillion that Tinubu submitted to the National Assembly, and ₦13.33 trillion higher than the 2025 budget.
The President had while presenting the 2025 budget proposal before federal lawmakers in December 2025, pegged the capital expenditure at ₦26.08 trillion and the crude oil benchmark at US$64.85 per barrel.
He disclosed that the expected total revenue was ₦34.33 trillion; ₦15.52 trillion for debt servicing.
The proposal was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US Dollar for the 2026 fiscal year.
Amid the growing concerns over insecurity across the country, Tinubu said his administration would “invest in security with clear accountability for outcomes—because security spending must deliver security results”.
“We will take decisive steps to strengthen agricultural markets. Food security is national security.
“The 2026 budget prioritises input financing and mechanisation; irrigation and climate‑resilient agriculture; storage and processing; and agro‑value chains,” he told the National Assembly members.
Nigeria’s budgets in recent years have come under fire with experts critcising the poor implementation and release of funds for the execution of important national projects.
But the Tinubu administration said that the 2026 national budget was well-planned to solidify the gains of its reform agenda.
“Our ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’ is critical. It is a commitment to double down on what is working, to solidify gains, and to ensure that the shared prosperity we speak of becomes a lived reality for more Nigerians, faster,” Minister of Information and National Orientation, Mohammed Idris, said in a statement.
Popular sports broadcast journalist with Classic FM 97.3, Temisan Okomi, has died.
A journalist with News Central, Olawale Adigun, confirmed his death in a statement shared on X on Friday.
He wrote on X, “The worst way to go into the weekend is hearing about Temisan Okomi’s passing. I’m so gutted and, at the same time, terrified. This man meant so much to me.”
Recall that news of his death has since stirred reactions on X, with colleagues and fans expressing shock and grief.
The late journalist had worked with Lagos Television, HiTV, and other prominent media organizations in Nigeria.
His last post on X was on April 14, 2026, when he wrote, “The Champions League is hard, man.”
Ibrahim Abdulkarim, a political associate of ex-governor of Anambra State, Peter Obi, has claimed that the former governor of Kano State, Rabiu Kwankwaso, has agreed to deputize the Obi in the 2027 presidential race.
He spoke during an interview on Trust TV, said the Obidients and the Kwankwassiyya Movements are already aligning towards Obi/Kwankwaso ticket.
Asked if Obi and Kwankwaso had struck a deal, Abdulkarim said “yes, I can categorically tell you that they have agreed”.
We all know that. Both the Obidients and the Kwankwassiyya Movements are aware of the agreement”.
Recall that Kwankwaso recently decamped from the New Nigerian Peoples Party, NNPP to the African Democratic Congress, ADC.
His move stirred suspicion that the two political gladiators may have agreed to run for the 2027 presidency on a single ticket.
Just in: Tinubu assents 2026 Appropriation Bill, 2025 Budget Extension
BREAKING: Popular sports analystt, Okomi is dead
BREAKING: JAMB set to release first batch of 2026 UTME results today
-
Economy16 hours agoNigerian stocks rally again as investors gain N1.66tn, market cap crosses N136tn
-
News16 hours agoI Am Ready For 2027 – President Tinubu Declares
-
News11 hours agoJust in: Ex-Senate president, Saraki, others to face death penalty charges
-
News16 hours agoSenator Abdulaziz Yari Accused of Using Billions to Secure Vice Presidential Ambition
-
News16 hours agoADC Reacts To Suspension Of Atiku, Lawal From Party
-
Foreign16 hours agoTrump Says Iran Agrees To Hand Over Nuclear Dust Amid Strait of Hormuz Blockade
-
News16 hours agoINEC adjusts Osun governorship election campaign period
-
Metro16 hours agoBauchi Govt Sacks Driver Over Road Crash That K!lled Two Journalists