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BREAKING: President Tinubu Presents N47.9trn Appropriation Bill To NASS

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…improvement witnessed in 2024 led us to 2025 budget – Tinubu
…say “Time for lamentation is over”
By Gloria Ikibah
President Bola Ahmed Tinubu in a Joint Session of the Senate and House of Representatives on Wednesday, 18 December 2024, presented the sum of N47.9 trillion as the proposed 2025 Appropriation Bill, with new borrowings of N13.0 trillion, which is 3.87 per cent of the estimated Gross Domestic Product (GDP).
The President, in his address to the National Assembly described the 2025 Budget as the “Budget of Restoration” which he said, reinforces the administration’s roadmap to secure peace, prosperity, and hope for a greater future for Nigeria.
“This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.”
The budget of restoration according to president Tinubu, serves as the very hope of the Renewed Hope Agenda and improving the lives of Nigerians.
He said the 2025 budget is one of the reform and transformation to consolidate the key policies of the Tinubu-led administration. Reeling out the progress made he said global economic growth for Nigeria increased from the 2.6% estimated to 3.5% growth.
Naijablitznews.com recalled that the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), and its fiscal parameters, adopted an “an oil price benchmark of $75 per barrel for 2025, oil production of 2.06 million barrels per day, an exchange rate of N1400 to $1, and a GDP growth of 4.6 per cent.”
President Tinubu said the 2025 budge seeks to restore micro economic stability, foster increased growth, employment, human capital development.
He said: “The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.
“The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.
“We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.
“The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.
“We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.
“The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory”.
The President said the reforms instituted are beginning to yield results and Nigerians will soon experience a better and more functional economy.
According to him, these clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.
“Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.
“Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
“Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
“Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.
Tinubu informed that his administration attained remarkable milestones in implementing the 2024 Budget.
“In 2024, we achieved: 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter; 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.
“While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt”, the President added.
Hw explained that the budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.
The 2025 Budget President said seeks to restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction and promote equitable income distribution and human capital development.
“The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.
“In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.
“Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.
“A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit. This is an ambitious but necessary budget to secure our future.
“The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).
These projections the President said are based on reduced importation of petroleum products alongside increased export of finished petroleum products; bumper harvests, driven by enhanced security, reducing reliance on food imports; ncreased foreign exchange inflows through Foreign Portfolio Investments; and higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
Tinubu said the budgetary allocations are informed by the commitment of his administration to security of lives and property, infrastructural development, education and healthcare delivery.
“Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.
“Highlights of the 2025 Budget Allocations:
• Defence and Security: N4.91 trillion
• Infrastructure: N4.06 trillion
• Health: N2.48 trillion
• Education: N3.52 trillion
He solicited the support of the lawmakers and Nigerians in addressing the country’s challenges
He stated: “The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.
“As your President, I remain committed and resolute to continue to lead the charge.
“This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved”.

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Nigerian Banks’ Customers To Pay N6 Per SMS Transaction Alert From Today

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Bank customers in Nigeria will begin paying N6 for each SMS transaction alert starting Thursday, May 1, 2025, following an upward adjustment in telecommunications service rates recently approved by the federal government.

The new fee represents a 50 percent increase from the previous N4 charge per message and has been communicated by several commercial banks to their customers ahead of the implementation.

Guaranty Trust Bank Limited was among those that issued notices. In an email to customers titled “Increase in SMS Transaction Alert Fee,” the bank explained that the revision was necessitated by higher charges from telecommunications providers. “Dear Valued Customer, Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” the notice read.

The bank emphasized the importance of SMS alerts, stating they are essential tools for customers to monitor and maintain control over their account activities. It also noted that SMS alerts sent to international phone numbers would incur additional charges.

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The increase in telecom rates and corresponding adjustment in SMS alert fees come amid broader concerns over rising costs of living and digital access in the country.

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NJC slams three judges

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National Judicial Commission, NJC has slammed three judges for gross misconduct.

The NJC spokesperson, Mrs. Kemi Babalola, said the decision was taken at its 108th meeting held in Abuja between April 29 and 30.

Part of the statement reads: “The council suspends Hon. Justice Jane E. Inyang, Court of Appeal, Uyo division, for one year without pay, as the Investigation Committee found

His Lordship to have breached Rule 3 (5) of the Revised Code of Conduct for Judicial Officers.

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“Hon. Justice Inyang was found to have abused his office by issuing inappropriate ex-parte orders for the sale of Hon. Udeme Esset’s petrol station and other businesses at interlocutory stage of the case.

“The act of judicial misconduct occurred while His Lordship presided over Suit No. FHC/UY/CS/46/2023, at the Federal High Court, Uyo judicial division, before his elevation to Court of Appeal.

“Furthermore, Hon. Justice Inyang Ekwo of the Federal High Court, Abuja division, has been placed on suspension for one year without pay. His Lordship was also placed on a watch-list for five years and barred from elevation for five years.

“The complaints against Hon. Justice Ekwo arose from Charge No. FHC/ABJ/CR/184/2021, wherein His Lordship delivered a ruling in a pending application without hearing the parties.

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“His Lordship ignored an application to set aside the proceedings of the court conducted in the absence of the parties.

“Subsequently, His Lordship proceeded to deliver a ruling dismissing the charge against the defendants.

“Consequently, His Lordship was found to have violated Rule 3.1 and 3.3 of the 2016 Revised Code of Conduct for Judicial Officers of the Federal Republic of Nigeria.

“The Council also suspended Hon. Justice Aminu Baffa Aliyu of the Federal High Court, Zamfara Division for a period of one year without pay for judicial misconduct in breach of Rule 3 (1) and 5 of the 2016 Code of Conduct for Judicial Officers.

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“It also placed His Lordship on the watch-list for three years, within which period he is barred from elevation.

“Hon. Justice Baffa was found liable for act of judicial misconduct in Suit No. FHC/GS/CS/30/2021, the Government of Zamfara State vs EFCC, wherein His Lordship granted an order restraining security agencies from carrying out their statutory duties, and disregarded the doctrine of stare decisis in adjudication of the case.

“The Council also issued a letter of caution to Hon. Justice A. O. Awogboro of Federal High Court, Lagos division in a petition filed by one Kasali Azeez Olagoke and S. Hamza in Suit No. FHC/CS/2021 between Chief Adesanya Musediku against the Assistant General of Police, Onikan, Zone 2.

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“The petition against Hon. Justice Othman A. Musa of the High Court of the Federal Capital Territory was put in abeyance pending the outcome of the decision of the Court of Appeal arising from Suit No. FCT/HS/BW/2274/15.

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“The petition against Hon. Justice C. N. Mbonu Nwenyi of the High Court of Anambra State by one Prof. Paul C. Obianaso was discountenanced after investigation revealed that there was no misconduct on the part of His Lordship.

“Another petition against Hon. Justice I. E. Ekwo in suit No FHC/ABJ/CS/321/2015 was put in abeyance pending the outcome of appeal before the Court of Appeal.

“Council discountenanced a petition by Mrs Adaku Amadi against Hon. Justice R. B. Haastrup of the National Industrial Court, as the petitioner withdrew her complaints.

“Council equally considered the report of its Preliminary Complaints Assessment Committee, which contained a total number of 43 petitions.

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“Nine committees were empanelled for further investigation of 11petitions, while 29 petitions were dismissed for lacking in merit.

“Three petitions against Hon. Justice Abubakar Babashani of the High Court of the Federal Capital Territory; Hon. Justice Isaac Essien of the National Industrial Court; and Hon. Justice A. O. Musa of the High Court of the Federal Capital Territory by Henry Chinweike Okoro; Ikemefuna Stephen Nwoye, Esq.; and Lassborn Chichebem Orjiugo, respectively, were put in abeyance pending the decisions of the Court of Appeal.

“Council also considered a petition by one Mahmud Aliyu against the appointment of three Judges to the High Court of Zamfara State.

“The petitioner complained that the exercise conducted in 2022 by the Zamfara State Judicial Service Commission, which led to the emergence of shortlisted candidates, was not transparent and was characterized by nepotism, high-handedness and non-compliance with Rules 4, 5 and 6 of the NJC guidelines for the appointment of Judicial Officers 2014.

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“That the nominees were unilaterally picked by the Chairman of the Zamfara State Judicial Service Commission (JSC) in disregard of the NJC guidelines on merit-based assessment.”

“Council, however, deliberated on its committee’s findings on the petition and resolved that the petitioner was an interested party who had indicated interest but was not selected as a candidate.”

“Council noted that the petitioner’s allegations were unsubstantiated and substantially based on falsehood.

It, therefore, resolved that the “petitioner who was a candidate for judicial appointment and intentionally peddled falsehoods against another aspiring judicial officer will be barred from participation in any future exercise.

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“In a petition to probe the recruitment exercise for the appointment of six Federal High Court Judges in 2021 by one Abdullahi Liman, the Council noted that the petition violated Section 11 (1) of the Judicial Discipline Regulations which stipulated that a complaint must be filed within six months of the occurrence of the event or matter complained of, whereas the petitioner filed his complaints on the 22nd day of January, 2025.

“It also resolved that a petition on the unconstitutional composition of Oyo State Judicial Service Commission written by Monday Adjeh has been overtaken by events.

“The Council also accepted the voluntary retirement of Hon. Justice Babatunde Ahmed Ademola Bakre and approved the notification of change of name of Hon. Justice I. A. Osayande to Hon. Justice I. A. Dika of the Edo State High Court.

“Council at the meeting, finally resolved that henceforth, the names of candidates being considered for appointment as judicial officers to superior courts of records will be published for information and comments by the public.

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“The primary objective of this initiative is to solicit comments from the public where there is objection to the integrity, reputation and/or competence of the candidates by opening the process to public participation and scrutiny.”

The NJC spokesperson, Mrs. Kemi Babalola, said the decision was taken at its 108th meeting held in Abuja between April 29 and 30.

Part of the statement reads: “The council suspends Hon. Justice Jane E. Inyang, Court of Appeal, Uyo division, for one year without pay, as the Investigation Committee found

His Lordship to have breached Rule 3 (5) of the Revised Code of Conduct for Judicial Officers.

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“Hon. Justice Inyang was found to have abused his office by issuing inappropriate ex-parte orders for the sale of Hon. Udeme Esset’s petrol station and other businesses at interlocutory stage of the case.

“The act of judicial misconduct occurred while His Lordship presided over Suit No. FHC/UY/CS/46/2023, at the Federal High Court, Uyo judicial division, before his elevation to Court of Appeal.

“Furthermore, Hon. Justice Inyang Ekwo of the Federal High Court, Abuja division, has been placed on suspension for one year without pay. His Lordship was also placed on a watch-list for five years and barred from elevation for five years.

“The complaints against Hon. Justice Ekwo arose from Charge No. FHC/ABJ/CR/184/2021, wherein His Lordship delivered a ruling in a pending application without hearing the parties.

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“His Lordship ignored an application to set aside the proceedings of the court conducted in the absence of the parties.

“Subsequently, His Lordship proceeded to deliver a ruling dismissing the charge against the defendants.

“Consequently, His Lordship was found to have violated Rule 3.1 and 3.3 of the 2016 Revised Code of Conduct for Judicial Officers of the Federal Republic of Nigeria.

“The Council also suspended Hon. Justice Aminu Baffa Aliyu of the Federal High Court, Zamfara Division for a period of one year without pay for judicial misconduct in breach of Rule 3 (1) and 5 of the 2016 Code of Conduct for Judicial Officers.

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“It also placed His Lordship on the watch-list for three years, within which period he is barred from elevation.

“Hon. Justice Baffa was found liable for act of judicial misconduct in Suit No. FHC/GS/CS/30/2021, the Government of Zamfara State vs EFCC, wherein His Lordship granted an order restraining security agencies from carrying out their statutory duties, and disregarded the doctrine of stare decisis in adjudication of the case.

“The Council also issued a letter of caution to Hon. Justice A. O. Awogboro of Federal High Court, Lagos division in a petition filed by one Kasali Azeez Olagoke and S. Hamza in Suit No. FHC/CS/2021 between Chief Adesanya Musediku against the Assistant General of Police, Onikan, Zone 2.

“The petition against Hon. Justice Othman A. Musa of the High Court of the Federal Capital Territory was put in abeyance pending the outcome of the decision of the Court of Appeal arising from Suit No. FCT/HS/BW/2274/15.

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“The petition against Hon. Justice C. N. Mbonu Nwenyi of the High Court of Anambra State by one Prof. Paul C. Obianaso was discountenanced after investigation revealed that there was no misconduct on the part of His Lordship.

“Another petition against Hon. Justice I. E. Ekwo in suit No FHC/ABJ/CS/321/2015 was put in abeyance pending the outcome of appeal before the Court of Appeal.

“Council discountenanced a petition by Mrs Adaku Amadi against Hon. Justice R. B. Haastrup of the National Industrial Court, as the petitioner withdrew her complaints.

“Council equally considered the report of its Preliminary Complaints Assessment Committee, which contained a total number of 43 petitions.

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“Nine committees were empanelled for further investigation of 11petitions, while 29 petitions were dismissed for lacking in merit.

“Three petitions against Hon. Justice Abubakar Babashani of the High Court of the Federal Capital Territory; Hon. Justice Isaac Essien of the National Industrial Court; and Hon. Justice A. O. Musa of the High Court of the Federal Capital Territory by Henry Chinweike Okoro; Ikemefuna Stephen Nwoye, Esq.; and Lassborn Chichebem Orjiugo, respectively, were put in abeyance pending the decisions of the Court of Appeal.

“Council also considered a petition by one Mahmud Aliyu against the appointment of three Judges to the High Court of Zamfara State.

“The petitioner complained that the exercise conducted in 2022 by the Zamfara State Judicial Service Commission, which led to the emergence of shortlisted candidates, was not transparent and was characterized by nepotism, high-handedness and non-compliance with Rules 4, 5 and 6 of the NJC guidelines for the appointment of Judicial Officers 2014.

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“That the nominees were unilaterally picked by the Chairman of the Zamfara State Judicial Service Commission (JSC) in disregard of the NJC guidelines on merit-based assessment.”

“Council, however, deliberated on its committee’s findings on the petition and resolved that the petitioner was an interested party who had indicated interest but was not selected as a candidate.”

“Council noted that the petitioner’s allegations were unsubstantiated and substantially based on falsehood.

It, therefore, resolved that the “petitioner who was a candidate for judicial appointment and intentionally peddled falsehoods against another aspiring judicial officer will be barred from participation in any future exercise.

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“In a petition to probe the recruitment exercise for the appointment of six Federal High Court Judges in 2021 by one Abdullahi Liman, the Council noted that the petition violated Section 11 (1) of the Judicial Discipline Regulations which stipulated that a complaint must be filed within six months of the occurrence of the event or matter complained of, whereas the petitioner filed his complaints on the 22nd day of January, 2025.

“It also resolved that a petition on the unconstitutional composition of Oyo State Judicial Service Commission written by Monday Adjeh has been overtaken by events.

“The Council also accepted the voluntary retirement of Hon. Justice Babatunde Ahmed Ademola Bakre and approved the notification of change of name of Hon. Justice I. A. Osayande to Hon. Justice I. A. Dika of the Edo State High Court.

“Council at the meeting, finally resolved that henceforth, the names of candidates being considered for appointment as judicial officers to superior courts of records will be published for information and comments by the public.

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“The primary objective of this initiative is to solicit comments from the public where there is objection to the integrity, reputation and/or competence of the candidates by opening the process to public participation and scrutiny.”

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Zed-Faith Foundation Donates Food, Medical Supplies to Orphanage, Elderly Homes in FCT

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By Kayode Sanni-Arewa

In a bid to ease the impact of rising food prices and economic hardship, the Zed-Faith Foundation International has donated food items and medical supplies to Ark of Refuge Orphanage and Old People’s Home in Kado, Abuja.

The items were distributed over the weekend by representatives of the Foundation on behalf of its Founder and Chairman, Amb. Daniel Onyeka Newman, a UK-based Nigerian and Chief Executive Officer of SBI.

The Foundation’s Media Consultant, Amb. Victor Atewe, who led the delegation, said the donation was a personal initiative by the Chairman and not funded by government or external bodies.

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“These items are intended to directly support the children and elderly, and we trust they will be used solely for that purpose,” Atewe said.

He added that the Foundation plans to continue its outreach efforts across the country, noting that the economic situation has made daily survival increasingly difficult for vulnerable groups.

The Foundation also used the occasion to urge the federal government to collaborate more with credible non-governmental organisations in supporting disadvantaged populations, especially as inflation and food insecurity worsen.

Speaking on behalf of the Country Representative, Mr. Chinnaya Dominic Chikwado, the Foundation’s Administrative Officer, Mr. Udodirim Okorie, called on well-meaning Nigerians to support charitable causes and contribute to alleviating the burden on those most affected by the country’s economic crisis.

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Representatives of the Old People’s Home and Ark of Refuge Orphanage expressed appreciation for the gesture, describing it as timely and impactful. They noted that such support helps bridge the gap in essential services for the elderly and children in their care.

“This donation will go a long way in meeting our daily needs.”

“We thank the Foundation for its continued support, especially during such challenging times.”

“Even the smallest gesture makes a big difference to those who have no one else to turn to.”

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“We hope others are inspired to follow suit and remember those most in need.”

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