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
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)
News
Govt offers discount on Vehicle Number Plate replacement, announces new figure
Govt offers discount on Vehicle Number Plate replacement, announces new figure
The Lagos State Government (LASG) has announced a temporary reduction in the cost of replacing faded or damaged vehicle number plates, cutting the fee from ₦30,000 to ₦20,000. The measure, part of a three-month amnesty and rebate window, will run from January to March 2026.
Approved by Governor Babajide Sanwo-Olu, the initiative targets both private and commercial vehicle owners across Lagos, aiming to improve vehicle identification, strengthen security, and enhance road safety throughout the state.
The Permanent Secretary of the Motor Vehicle Administration Agency (MVAA), Rasheed Muri-Okunola, described the rebate as “a deliberate, citizen-focused intervention designed to encourage motorists to voluntarily replace worn, faded, or illegible number plates at a significantly reduced cost.”
He highlighted the security implications of faded or damaged plates, explaining that their condition affects “security, traffic enforcement, and crime prevention, as unreadable plates hinder effective monitoring, investigation, and identification of vehicles.”
“Clear and readable number plates are fundamental to public safety and security. This amnesty period allows motorists to replace faded plates at ₦20,000 instead of ₦30,000, thereby reducing the financial burden while supporting collective efforts to make Lagos safer,” Muri-Okunola said.
He stressed that the rebate is valid only within the January to March 2026 window, urging vehicle owners with faded or damaged plates to take advantage of the initiative by visiting the Pilot Centre at the Oshodi One-Stop Centre or any of the agency’s 140 stations across the state.
According to Muri-Okunola, the programme also addresses rising security concerns linked to unreadable number plates, noting that “legible and standardised plates are critical to crime detection, traffic management, digital vehicle tracking, and emergency response systems.”
He warned that after the amnesty period ends in March 2026, “the replacement fee would revert to the original ₦30,000, while enforcement measures would be fully applied to ensure compliance.”
News
Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom
Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom
The Edo State Police Command has uncovered a staged kidnapping in Ekpoma, where a man allegedly faked his own abduction, forcing his brother to sell property to raise a ransom.
The incident was reported to the police on January 10, according to a statement issued by the state Police Public Relations Officer, SP Eno Ikoedem.
Investigations revealed that the supposed victim, identified as Idris Isiaka, a vulcanizer based on Balogun Street in the Emaudo community of Ekpoma, conspired with two accomplices to orchestrate the fake kidnap.
Police said Isiaka arranged for news of his “abduction” to be circulated on social media through a blogger and subsequently demanded a ransom of ₦12 million from his family.
Believing the story to be genuine, his brother reportedly sold a personal property in a desperate bid to secure his release.
However, detectives later uncovered the deception and arrested Isiaka along with his collaborators.
The police described the act as criminal and deceitful, warning members of the public against engaging in similar schemes.
The suspects are currently in custody and are expected to face prosecution once investigations are concluded.
The PPRO explained that the suspect “immediately engineered the circulation of his kidnap on social media through a blogger and demanded a ransom of Twelve Million Naira.
“His family in Kogi State was further contacted, threatening that he would be killed if the ransom was not paid”.
He said the brother, however, “sold his property and paid part of the ransom money which was shared with his accomplices, one Mohammed Saliu and Godwin Mohammed, both of whom are currently at large.
“The suspect has confessed to the crime. He will be arraigned in court after investigation”.
-
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


