BREAKING; President Tinubu presents N58 trillion appropriation Bill to NASS
BREAKING; President Tinubu presents N58 trillion appropriation Bill to NASS
President Bola Tinubu on Friday presented the 2026 Appropriation Bill of N58.18trillion to the joint session of the National Assembly.
The News Agency of Nigeria (NAN) reports that the appropriation bill was christened ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’.
Tinubu said that the budget was a culmination of two-and-a-half years of “painful but necessary” reforms aimed at steering Nigeria towards macro-economic stability, job‑rich growth and inclusive prosperity.
Key highlights of the 2026 appropriation bill, according to Tinubu, include total revenue of N34.33 trillion and total expenditure of N58.18 trillion, including N15.52 trillion for debt servicing.
While the recurrent non‑debt expenditure was pegged at N15.25 trillion, capital expenditure was N26.08 trillion and deficit, N23.85 trillion, at 4.28 per cent of GDP rate.
The president said that the budget was anchored on four pillars of consolidating macro-economic stability, improving the business and investment climate, promoting job‑rich growth and poverty reduction, and strengthening human capital, while protecting vulnerable groups.
According to him , sectoral allocations have Defence and Security at N5.41 trillion; Infrastructure, N3.56 trillion; Education N3.52 trillion and Health N2.48 trillion.
Tinubu emphasised that security remained the bedrock of development, saying that the N5.41 trillion allocation was key to modernising the armed forces, enhancing intelligence‑driven policing and securing the nation’s borders.
He said that the Nigerian Education Loan Fund had supported more than 418,000 students across 229 tertiary institutions, while health spending accounts for six per cent of the total budget net of liabilities.
The president noted that encouraging signs of stabilisation, stressing that GDP grew to 3.98 per cent in third quarter of 2025 from 3.86 per cent in third quarter of 2024.
He also said that inflation fell to 14.45 per cent in November from 24.23 per cent in March, while external reserves reached a seven‑year high of about 47 billion dollars.
To sustain the gains, he said that the budget would target a crude oil benchmark of 64.85 dollar per barrel, production of 1.84 million barrels per day and an exchange rate of N1,400 to the US dollar for 2026.
Tinubu, who stressed the need for discipline in budget execution, directed ministries, departments and agencies (MDAs) to adhere strictly to appropriated timelines and deploy end‑to‑end digitisation of revenue mobilisation to curb leakages.
He also called for better revenue mobilisation through new National Tax Acts and reforms in the oil and gas sector, alongside stringent performance targets for government-owned enterprises.
He said that the budget introduced a new national counter‑terrorism doctrine which reclassified bandits, militias, armed gangs and other non‑state armed groups as terrorists.
“The doctrine mandates unified command, intelligence‑sharing and community‑based peace building to combat violence that threatens national survival,” he said.
The president called for unity between the executive and the legislature to deliver full promise of his administration’s Renewed Hope Agenda, reiterating that the 2026 budget was not merely a list of numbers but a statement of national priorities.(NAN)
News
Rivers Lawmakers fail to resume plenary amid ongoing impeachment proceedings against Gov Fubara
Rivers Lawmakers fail to resume plenary amid ongoing impeachment proceedings against Gov Fubara
The Rivers State House of Assembly, led by Speaker Martin Amaewhule, did not reconvene for plenary on Thursday, a week after adjourning its last session.
During its first sitting of 2026, held last Thursday, the House had initiated impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, over alleged gross misconduct. The charges reportedly included the demolition of the state assembly complex and unauthorized spending, among other allegations. That session was adjourned to January 15, 2026.
However, as of noon on Thursday, a visit to the assembly—currently holding sittings at its conference hall along Aba Road—showed no indication that the House would resume.
No official reason has been provided for the delay, and a new date for resumption has not been announced.
News
Two killed, others arrested as Police operatives engage hoodlums that attacked ex–Governor’s convoy in gun battle
Two killed, others arrested as Police operatives engage hoodlums that attacked ex–Governor’s convoy in gun battle
Two suspected armed robbers were shot dead following a prolonged gun battle with police at Enugwu Agidi Junction in Dunukofia Local Government Area of Anambra State.
According to the state police spokesperson, Tochukwu Ikenga, the clash occurred between security operatives and hoodlums believed to be armed robbers and cultists with links to a proscribed secessionist group. He said the exchange of gunfire lasted about two hours.
Ikenga disclosed on Thursday that three other suspects escaped during the operation, sustaining varying degrees of gunshot injuries.
He added that items recovered from the scene included one T.06 rifle, two pump-action guns, 24 rounds of T.06 ammunition, 15 live cartridges, assorted criminal charms, a red cult beret, and a black Toyota Highlander vehicle.
He said, “Anambra State Police Command in the early hours of 14th January 2026 recorded another major operational breakthrough in its sustained efforts to rid the State of criminal elements and ensure the safety of lives and property.
“The Police Operatives attached to Rapid Response Squad Awkuzu acting on credible and actionable intelligence, laid an ambush to a 5-man group of armed hoodlums suspected to be armed robbers, cultists, and linked to a proscribed secessionist group at Enugwu Agidi Junction, Dunukofia Local Government Area of Anambra State.
“Upon sighting the Operatives, the suspects engaged the Officers in a fierce gun battle that lasted for two hours which resulted to fatal gun shot injuries on two of the armed suspects, while the other three fled the scene with varying degrees of gunshot injuries.
“The Operatives also recovered One (1) T.06 rifle, two (2) pump-action guns, Twenty-four (24) rounds of T.06 ammunition, Fifteen (15) live cartridges, Assorted criminal charms, One cult red beret and One black Toyota Highlander vehicle.
“Furthermore, while in deep agony, one of the armed suspects confessed the gang members as being part of those who launched an unsuccessful but repelled attack by the Police Operatives on the convoy of former Minister of Labour and Employment, Dr Chris Ngige.
“He also confessed being part of the striking squad of Vikings confraternity on a mission to retaliate the death of one of their members by another rival cult group.
“The Commissioner of Police, Ikioye Orutugu while commending the gallantry of the operatives charged them to intensify efforts to arrest other gang members, particularly those who fled with gunshot injuries during the encounter.
“Meanwhile, hospital or related medical facilities are advised to admit anyone with gunshot wounds or related injuries, but must endeavor to report such to the nearest Police Station immediately.
“Further developments will be communicated as investigations progress.”
News
BREAKING: Dollar rain on Super Eagles despite AFCON semi final loss to Morocco
BREAKING: Dollar rain on Super Eagles despite AFCON semi final loss to Morocco
The Chairman of BUA Group, Abdul Samad Rabiu, has commended Nigeria’s Super Eagles for their gallant display at the 2025 Africa Cup of Nations.
He said that the monetary pledged by made him still stands in spite of the semifinal defeat by host Morocco.
Nigeria’s Super Eagles suffered a heartbreaking loss from the 2025 AFCON after losing 4-2 on penalties to host Morocco in a tense semi-final clash at the Prince Moulay Abdellah Stadium, Rabat on Wednesday.
Rabiu praised the players’ courage, unity and determination, describing their performance as worthy of national pride and celebration.
The disclosed this in his official X handle, where he congratulated the Super Eagles for their impressive performance and national pride.
“You fought with your hearts, gave your all, and showed true courage on the pitch. Every Nigerian is proud of you,” Rabiu said.
He noted that results do not always reflect effort, stressing that the team’s fighting spirit and passion resonated strongly with Nigerians at home and abroad.
“Sometimes our best efforts don’t bring the outcome we desire, but the spirit and unity you displayed truly matter.
“I am going ahead with the $500,000 pledge in recognition of your hard work, dedication and the joy you brought to our nation,” he said.
The News Agency of Nigeria (NAN) reports that Rabiu had earlier promised the reward following Nigeria’s 2-0 victory over Algeria in the AFCON 2025 quarter-final.
Rabiu urged the players to remain focused, expressing confidence that the lessons from the tournament would inspire future success.
“Keep your heads high. This experience will fuel greater victories. Nigeria believes in you,” the BUA Chairman said.(NAN)
-
6 years ago
Our situation in Kano terrible – Gov Ganduje cries out
-
News11 months agoFG pledges commitment to enhance Police officers Welfare, implement Tinubu’s 8-point agenda for NPF
-
News11 months agoBREAKING; NSCDC gets approval to commence 2025 recruitment exercise
-
News9 months agoAlleged cocaine deal: Court issues orders in suspended DCP Abba Kyari’s case
-
News12 months agoDPO under investigation for allegedly taking teenage girl to his home while in police custody
-
News12 months agoJUST IN; Commissioner of Police bows out of Service
-
News9 months agoJUST IN; Police Inspector dies watching Arsenal match
-
News12 months agoBREAKING; NLC declare nationwide protest