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Ariyomo inaugurates Cooperative Society for APC members in Akure South LG
●Donates N2.5m take-off grant
An infrastructure engineer, Engr. Olatunji Ariyomo, FNSE, has inaugurated a cooperative society for members of the All Progressive Congress (APC) in Akure South local government area of Ondo State to offer interest-free loans for artisans, traders, and market women.
While addressing a packed house of party faithful at the party’s secretariat in the local government on Thursday, Ariyomo who is popularly known as Tunji Light by the locals, announced the initial deposit of a two million naira take-off grant for the Cooperative Society.
The Chairman of the party in the local government, Hon. (Chief) Fesobi Akinmolayan applauded Ariyomo for rising to the occasion at a time of global economic crisis and lack of access to credit and promised the commitment of the Local Government Executive to utilize the provisions judiciously.
Akinmolayan described the Akure South APC Cooperative Society’s initiative as one of a kind in the history of political empowerment in Nigeria disclosing that it is a gesture targeted at teaching members how to fish and become productive rather than looking forward to sharing free money.
Chief Akinmolayan confirmed to the gathering that not only has Engr. Ariyomo properly structured the Cooperative Society for the benefit of micro and small-scale entrepreneurs in the local government, the engineer has indeed deposited the take-off grant of N2 million to the account of the Cooperative Society with Zenith Bank Plc.
Akinmoyan further explained that the programme is designed to assist members in accessing interest-free loans for their businesses and trade. He invited participants to support the project and to appreciate the gesture of the Abuja-based engineer while appealing to other leaders in the local government to support the project.
In his words, “If my Executive can get 50 more leaders to pitch in N1 million or N500,000 each, we would grow the capital base of the Cooperative Society above N50 million in no time”.
According to Akinmolayan, “The interest-free Akure South APC Cooperative Society is in place to show the practicality of the sense of responsibility we preach as a political party to all and sundry. All you need to access this loan is to be a member of the APC Akure South Local Government Area, come with your business plan, obtain a form from us, fill and submit it – that is all.”
Hon. Akinmolayan described the donor as “a visionary and a leader ‘per excellence’”.
The Chairman further disclosed that he has received an additional alert of the sum of N500,000 from the donor as traditional empowerment for some of the dedicated women in the local government.
The APC Woman Leader in Akure South, Hon. (Mrs.) Funke Daramola, described Engr Ariyomo as a leader with whom she has been involved in the political scene for ages. She stated that the Cooperative Society would impact a lot of members of the party and enjoined would-be beneficiaries to ensure they pay back the loan on schedule so that it would continue to revolve for the benefits of other members stating that the Executive had secured the participation of an experienced lawyer to ensure that beneficiaries keep to the terms of the loans
Zenith Bank Plc, the official banker to the Cooperative Society was represented by Mr. Babafemi Adefisoye who informed the gathering that the Bank is apolitical but will continue to offer top-notch banking services to all and sundry. He shared insights on how the Executive Committee of the party at the local government can ensure that each beneficiary pays back the loan as of when due.
A legal practitioner, Bar. Sandra Ogunmola, appealed to beneficiaries to be sincere with the society for the benefit of other members. She stated that each beneficiary will be known, properly vetted, and properly documented. She commended the donor, Engr Ariyomo for his gesture, and informed participants that the engineer in the past 24 years has offered scholarship support to many and that he has equally sponsored hundreds in procuring JAMB forms.
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.
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