News
Senate moves to endorse Tinubu’s N1.77tn loan request within 24hrs

President Bola Tinubu has requested the National Assembly for approval of N1.767tn loan already captured in the external borrowing plan for implementation of the N28.7trillion 2024 budget.
President Tinubu who made the request in separate letters read in Senate and House of Representatives during plenary on Tuesday, said if approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget.
The Senate President , Godswill Akpabio after reading the letter , mandated the Senate Committee on Local and Foreign to work on the request and report back within 24 hours .
“The Presidential request for $2.2billion , equivalent of N1.767trillion loan is already enshrined in the external borrowing plan for the 2024 fiscal year .
” The Senate Committee on Local and foreign debts , should therefore , give the request expeditious consideration and report back within 24 hours .
The president has also forwarded the Medium Term Expenditure Frame work (MTEF) and Fiscal Strategy Paper (FSP) for 2025- 2027 to both the Senate and the House of Representatives .
In giving the request expeditious consideration , Senator Godswill Akpabio after reading the letter containing it , mandated the Senate Committee on Finance , National Planning and Economic Affairs to consider it at committee level and report back in one week.
Key parameters in the 2025 – 2027 MTEF/FSP documents needed for consideration and approval of the proposed N47.9trillion 2025 budget are ÷ $75 oil price benchmark per barrel, Daily Oil Production of 2.06 million barrels , Exchange Rate of N1,400 to $1 and targeted GDP Growth rate of 6.4%..
President Tinubu in another letter to both chambers of the National Assembly , sought approval for Social Investment Programme Amendment Bill
The proposed amendment aims to strengthen the framework for implementing the government’s social welfare programmes, ensuring greater transparency and efficiency.
He explained further that the amendment seeks to designate the National Investment Register as the primary tool for targeting beneficiaries of social investment initiatives. This measure, he said, would ensure that welfare programmes are data-driven and deliver effective social protection to Nigeria’s most vulnerable citizens.
“The amendment will make our social and welfare programmes more transparent, efficient, and impactful in addressing the needs of vulnerable Nigerians,” he said
He further noted that the request was made in accordance with Section 58(2) of the 1999 Constitution (as amended) and urged the Senate to give the bill urgent consideration.
The proposed amendment, if passed, will improve the management and delivery of social investment programmes, enhancing their capacity to combat poverty and inequality across the country. The Senate has referred the bill to relevant committees for review and is expected to deliberate on the proposal in subsequent sessions.
This development indicates that the Tinubu’s administration is committed to leveraging technology and data to optimize the impact of its social welfare initiatives.
News
Ramadan: Speaker Abbas Urges Muslims To Pray For Peace, Prosperity of Nigeria

News
Just in: Ramadan begins today -Sultan declares

Fasting in the month of Ramadan, which is the ninth of the 12 Islamic calendar year, begins today, Saturday March 1, 2025, the Sultan of Sokoto and Leader of Muslim Ummah of Nigeria, Alhaji Muhammad Sa’ad Abubakar, declared on Friday.
The Sultan explained that his declaration followed verified and authenticated reports from various Muslim leaders across the country, which he said had been accepted.
The Sultan said: “Today, Friday, 28th February, 2025, brings us to the end of Sha’ban. Reports of positive sighting of the new crescent of Ramadan were brought to us by various leaders across the country. We have verified and have authenticated such reports and have duly accepted such reports.
“Therefore, tomorrow, 1st March, 2025, makes it 1st Ramadan 1446 After Hijrah,” the Sultan said.
He, therefore, called on Muslims in the country to commence the fasting while also urging them to pray for leaders to enable them to lead the nation and its people well.
He seized the opportunity of the announcement to enjoin well-to-do Muslims to reach out and give to the less privileged or needy during the period.
News
NAFDAC paints popular Indian company black over alleged sale of harmful

The National Agency for Food and Drug Administration and Control (NAFDAC) says it has blacklisted Aveo Pharmaceuticals Pt Limited, an Indian company, over the illegal production and exportation of dangerous opioid combinations into West Africa, including Nigeria.
Opioids are a class of drugs that work in the brain to produce a variety of effects, including pain relief.
Opioid drugs include prescription pain medicine and illegal drugs.
In a statement on Friday, NAFDAC said investigations revealed that the company, managed by Vinod Sharma on the outskirts of Mumbai in India, is responsible for manufacturing and distributing Tafrodol and Royal 225 drugs containing a harmful mix of tapentadol and carisoprodol.
Tapentadol is a powerful opioid, and carisoprodol is a banned muscle relaxant.
The agency said the substances pose severe health risks such as respiratory failure, seizures, overdose, and death to users.
“A BBC World Service investigation exposed how packets of these drugs, branded with the Aveo Pharmaceuticals logo, have been found on the streets of Nigeria, Ghana, and Côte d’Ivoire,” the statement reads.
“Further evidence confirmed that Aveo Pharmaceuticals is also involved in the illegal exportation of high-dose tramadol above 100 mg, a strength not registered or approved by NAFDAC.
“Undercover footage captured Vinod Sharma admitting to the mass distribution of these opioids for abuse as street drugs across West Africa.
“Given the severity of these findings, NAFDAC has taken decisive action to blacklist Aveo Pharmaceuticals and block any future registration of its products in Nigeria.”
NAFDAC said it is committed to protecting public health by enforcing international best practices in pharmaceutical regulation, including stringent product registration, good manufacturing practice (GMP) inspections, post-marketing surveillance, and pre-shipment inspections for high-risk imports.
The agency said it has intensified enforcement operations against illicit pharmaceuticals in major drug distribution hubs across the country.
NAFDAC urged the public to avoid unregistered medicines and only use prescription drugs dispensed by licensed healthcare professionals.
“With continued vigilance and public support, NAFDAC will persist in its fight against the circulation of fake, substandard, and dangerous pharmaceuticals in Nigeria,” the agency said.
-
News22 hours ago
BREAKING! Wike breaks silence on S/Court verdict, says it has ended era of lawlessness
-
News24 hours ago
Sanwo-Olu Commits To Creating Tangible Economic Growth
-
News22 hours ago
Updated : Supreme Court fires all Rivers LG Chairmen
-
News23 hours ago
Breaking: Authentic Rivers Assembly Speaker, Amaewhule asks IGP to seal all LGAs secretariats
-
News22 hours ago
Obasanjo, 7 ex-presidents work towards debt relief for African countries
-
News22 hours ago
How driver handed abducted Oyo NYSC member to k!dnappers
-
News20 hours ago
Just in: Saudi Arabia sights Ramadan moon fasting begins tomorrow
-
News22 hours ago
BREAKING: Finally , 2 weeks after, Tinubu signs N54.9trn 2025 budget