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Just in: Tinubu assents 2026 Appropriation Bill, 2025 Budget Extension

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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.

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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.

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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.

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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

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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.

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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.

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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.

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Ooni debunks report over conferment of chieftaincy title on Baba Ijesha

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The Permanent Chairman of the Southern Nigerian Traditional Rulers Council (SNTRC), Arole Oodua Olofin Adimula and the Natural Head of the Oduduwa race worldwide, the Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, Ojaja II, has rubbished reports circulating on social media alleging that he conferred a chieftaincy title on popular Nollywood actor and comedian, James Olanrewaju, popularly known as Baba Ijesha.

In a statement on Saturday by the Director of Media and Public Affairs, Ooni’s Palace, Otunba Moses Olafare said the Ooni clarified that although he warmly received the actor and his wife at the Ile Oodua Palace on Wednesday to celebrate the birth of his son and presented him with a brand-new car and cash gifts as a demonstration of his fatherly love and royal generosity, no chieftaincy title was conferred on him.

According to him, the expression “Awada Konge Oduwa,” which Baba Ijesha later described on his social media pages as a chieftaincy title, was merely a light-comedy remark made by the Ooni during a relaxed interaction in recognition of the actor’s outstanding career as a comedian.

The remark was never intended to constitute a formal installation or conferment of a traditional title.

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The Ooni noted that Baba Ijesha, as an indigene of Ile-Ife and a proud son of the source, is deserving of honour and could be considered for a chieftaincy title in the future.

However, no such title has been conferred on him.

“The conferment of chieftaincy titles in Ile-Ife remains a sacred traditional process governed by established customs, consultations and traditional rites, which are publicly conducted in accordance with the age-long traditions of the source. None of these customary procedures took place during the actor’s visit to the Palace, “he said.

While appreciating Baba Ijesha for acknowledging the royal kindness extended to him and his family, the Ooni urged media organisations and members of the public to disregard reports claiming that the actor has been installed as the “Awada Konge Oduwa” or conferred with any chieftaincy title.

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The Ooni reaffirmed his commitment to celebrating and supporting deserving sons and daughters of Ile-Ife and the Oodua race at large while preserving the sanctity, dignity and integrity of the revered traditional institution of chieftaincy.

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Presidency Orders DSS, EFCC To Probe Govt Officials Linked To PFIPC Scandal

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The Presidency has called on security and anti-graft agencies to identify, arrest and prosecute government officials who may have collaborated with Prince Matthew Adeniyi Adeyemi in the alleged operation of two fictitious federal government agencies.

Adeyemi is accused of creating the Presidential Foreign Intervention Promotion Council and the Presidential Economic Advisory Council using allegedly forged documents purportedly linked to the Presidency.

In a statement on his verified X handle, the Senior Special Assistant to President Bola Ahmed Tinubu on Media and Publicity, Temitope Ajayi, said investigators must go beyond Adeyemi and expose the internal network that allegedly enabled him to operate for an extended period.

Ajayi urged the Department of State Services (DSS), the Nigeria Police Force (NPF) and the Economic and Financial Crimes Commission (EFCC) to investigate all officials within public institutions who may have aided the alleged scheme.

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According to Ajayi, much of the public debate has ignored the fact that government institutions detected the alleged fraud and acted on it.

He said officials of the Nigerian Investment Promotion Commission, working with officers of the Ministry of Foreign Affairs, first discovered inconsistencies in Adeyemi’s operations and reported the matter to the appropriate authorities.

“Contrary to the anything-goes narrative being promoted, it was the system itself that raised the red flag and dealt with it administratively,” Ajayi said.

He, however, acknowledged that the suspect could not have operated for long without help from insiders.

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“What is not in doubt is that internal collaborators enabled Adeyemi to get this far. That is precisely what investigators from the DSS, the Police and the EFCC must now unravel.

“The criminal network within the affected institutions must be dismantled and everyone found to have played a role should be arrested and prosecuted,” he said.

The Presidency had earlier disowned the disowned the two organisations, insisting that they did not exist as government agencies.

It also maintained that the Chief of Staff to the President, Femi Gbajabiamila, neither authorised Adeyemi’s activities nor had any connection with them.

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“In Nigeria, the easiest and most believable allegation anyone can throw at a public officer is corruption.

“Once that accusation is thrown into the mix, the water is polluted, the lines are blurred and everyone is kept busy arguing over distractions rather than the real issues,” he wrote.

He described Adeyemi as “an irredeemable con artist” who was using allegations against the Chief of Staff as “his last straw” to avoid criminal liability.

The Presidency insisted that the case should not be framed as evidence of complicity at the highest levels of government, but as an alleged fraud uncovered by the system itself.

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TCN announces planned outage at Abuja transmission substation

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Transmission Company of Nigeria, TCN, Abuja Region has announced a planned preventive maintenance at the Katampe 132/33 KiloVolt (kV) Transmission Substation on Saturday from 9:00am to 4:00pm.

General Manager, Public Affairs of the TCN, Mrs Ndidi Mbah, made this announcement in a statement in Abuja on Saturday.

Mbah said the scheduled maintenance is to enable TCN’s maintenance crew carry out preventive maintenance on the 100 Mega Volt Ampere (MVA) 132/33kV Power Transformer (TR1), its auxiliaries, and associated switchgear in the substation.

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”Consequently, Abuja Electricity Distribution Company, AEDC, will be unable to off-take bulk power for distribution to customers in parts of Mpape, Maitama, Jahi, Life Camp,

”Others are Kado Fish Market, Idu-Karmo, and their environs during the maintenance period,” she said.

According to her, the company regrets any inconvenience the planned outage may cause electricity customers in the affected areas.

She added that equipment maintenance is essential to ensure their continued optimal performance.

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