The presidential candidate of the Peoples Democratic Party in the 2023 election, Atiku Abubakar, has stated that the 2025 budget proposal lacks the structural and fiscal discipline needed to address Nigeria’s multifaceted economic challenges.

The former vice president made this disclosure in a statement on Sunday, reacting to the 2025 budget proposal.

Recall that President Bola Ahmed Tinubu last week presented a N49.7 trillion 2025 budget to the National Assembly. The President had based the budget on key economic assumptions, including a N36.36 trillion revenue target, inflation reduction to 15.75 per cent, an exchange rate of N1,500 per dollar, oil production at 2.06 million barrels per day, a crude oil price of $70 per barrel, and a N13.39 trillion budget deficit.

Reacting to the budget, Atiku stated that it reflects a continuation of business-as-usual fiscal practices where budgets fail to impact the lives of citizens.

According to him, the 2025 budget’s ability to foster sustainable economic growth and tackle Nigeria’s deep-rooted challenges is questionable.

Atiku also criticised the budget’s reliance on N13 trillion in borrowing to fund the deficit.

“Weak Budgetary Foundations: The 2024 budget’s underperformance signals poor budget execution. By Q3 of the fiscal year, less than 35 per cent of the allocated capital expenditure for MDAs had been disbursed, despite claims of 85 per cent budget execution. This underperformance in capital spending, crucial for fostering economic transformation, raises concerns about the execution of the 2025 budget.

“Disproportionate Debt Servicing: Debt servicing, which accounts for N15.8 trillion (33 per cent of the total expenditure), is nearly equal to the planned capital expenditure (N16 trillion, or 34 per cent). Moreover, debt servicing surpasses spending on key priority sectors such as defence (N4.91 trillion), infrastructure (N4.06 trillion), education (N3.52 trillion), and health (N2.4 trillion). This imbalance will likely crowd out essential investments and perpetuate a cycle of increasing borrowing and debt accumulation, undermining fiscal stability.

“Unsustainable Government Expenditure: The government’s recurrent expenditure remains disproportionately high, with over N14 trillion (30 per cent of the budget) allocated to operating an oversized bureaucracy and supporting inefficient public enterprises. The lack of concrete steps to curb wastage and enhance the efficiency of public spending exacerbates fiscal challenges, leaving limited resources for development.

“Insufficient Capital Investment: After accounting for debt servicing and recurrent expenditure, the remaining allocation for capital spending—ranging from 25 per cent to 34 per cent of the total budget—is insufficient to address Nigeria’s infrastructure deficit and stimulate growth. This amounts to an average capital allocation of approximately N80,000 (US$45) per capita, which is insufficient to meet the demands of a nation grappling with slow growth and infrastructural underdevelopment.

“Regressive Taxation and Economic Strain: The administration’s decision to increase the VAT rate from 7.5 per cent to 10 per cent is a retrogressive measure that will exacerbate the cost-of-living crisis and impede economic growth. By imposing additional tax burdens on an already struggling populace while failing to address governance inefficiencies, the government risks stifling domestic consumption and further deepening economic hardship.

“The 2025 budget lacks the structural reforms and fiscal discipline required to address Nigeria’s multifaceted economic challenges. To enhance the budget’s credibility, the administration must prioritise the reduction of inefficiencies in government operations, tackle contract inflation, and focus on long-term fiscal sustainability rather than perpetuating unsustainable borrowing and recurrent spending patterns. A shift toward a more disciplined and growth-oriented fiscal policy is essential for the nation’s economic recovery,” he stated.

Former Director-General of Peter Obi’s Presidential Campaign Organisation, Doyin Okupe, has attributed the wave of defections from the Labour Party party to its failure to establish a sustainable structure after the 2023 elections.

Recalls that six LP lawmakers recently defected to the ruling All Progressives Congress (APC) on the floor of the House of Representatives.

These lawmakers include Rep. Tochukwu Chinedu Okere (Imo), Rep. Donatus Matthew (Kaduna), Rep. Akiba Bassey (Cross River), and Rep. Esosa Iyawe (Edo).

In an interview with journalists in Lagos State on Sunday, Okupe noted that the Labour Party’s current challenges have left elected members seeking political relevance and survival elsewhere.

Okupe explained that the defections were predictable, as many elected officials would not remain in a party with uncertain prospects.

The former Labour Party chieftain also cited Peter Obi’s recent meeting with opposition leaders, including the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, in Adamawa as a sign of open-ended options and possible exit from the party.

He said, “The Labour Party has historically been a fallback option for those unable to secure tickets in major parties. That was how we joined initially, and our presence boosted its fortunes.

“National Assembly members elected under the LP banner know their chances of returning in 2027 are slim without strong party structures. To secure their political future, they are aligning with more established parties.

“What does Obi’s meeting with Atiku tell you? It suggests that all options are on the table. Labour Party followers are not blind.”

Okupe further criticised the party leadership and Peter Obi for neglecting to develop a political structure after the election.

He added, “The Labour Party is not building or investing in structures. This failure is driving people away, and it will continue.” 

NNPC slashes price by 12%

Dangote hails Tinubu for crude for Naira deal

P/H Refinery fully operational – NNPCL

The competition among stakeholders in the downstream sector has caused a reduction in the price of Premium Motor Spirit, PMS, better known as petrol, Sunday Vanguard has learnt.

Petrol, which sold at N1,020 per litre, dropped to N899 per litre after the Dangote Refinery in Lagos slashed the product’s price to N899.50k for marketers, last week.

Before now, petrol prices had consistently increased, causing customers to worry that the price hike might be sustained during the festive season.

Between September 16 and October 10, the Nigerian National Petroleum Company Limited, NNPCL, had raised fuel prices from N950 in Lagos and N1,019 in the North-East to N998 naira per litre, while in Abuja N1,030, making customers’ fears genuine.

But in a surprising development, the NNPCL has slashed petrol price by 12 per cent, making the product fairly affordable for customers.

This comes as the NNPCL debunked claims that the Port Harcourt Refinery had stopped operations.

Transportation costs

confirming the PMS price reduction, the National President of Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Dr Billy Gillis-Harry, said N899 per litre was for Lagos, just as Warri, Oghara, Port Harcourt and Calabar would have N970 as their ex-pot price.

Gillis-Harry said: “The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians. We commend NNPCL for responding to our call for affordable PMS prices.

“The benefits of the price reduction are many including reduced transportation costs. With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.

“Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services. The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford basic necessities and enjoy a better quality of life.”

Competitive pricing

Gillis-Harry also commended Dangote Refinery for its earlier price reduction, saying it helped to stimulate competition in the downstream sector.

According to him, a report submitted by PETROAN’s technical pricing team highlighted the pros and cons of competitive pricing.

He said: “The report noted that competitive pricing allows companies to maintain an advantage by strategically setting prices. This approach helps businesses understand their market position, attract new customers, and boost sales.

“The report also warns that competitive pricing can lead to compromised product quality. Therefore, PETROAN is calling on the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to ensure compliance with quality assurance standards.

“The Zonal leaderships of PETROAN and state Executive Councils across the 36 states of the federation have expressed optimism that the recent price reduction by NNPC will bring relief and put smiles on the faces of Nigerians at various retail outlets nationwide.

“This optimism stems from the fact that the price reduction will have a ripple effect on the economy, leading to reduced transportation costs, increased economic activity, and an improved standard of living for Nigerians.”

Monitor situation

Also speaking, Zonal chairman of PETROAN’s Eastern zone, Chief Sunny Nkpe, said as the price reduction takes effect, the orgainsation’s zonal and state executive councils would continue to monitor the situation.

According to Nkpe, this was to ensure that the benefits of the price reduction were passed on to the end-users.

On his part, National Public Relations Officer of PETROAN, Dr Joseph Obele, expressed optimism that PMS price would drop further before the end of January 2025, given the global decline in crude oil prices and the Naira’s recent gain against the dollar.

Crude-for-Naira deal

Meanwhile, President of the Dangote Industries Limited, Aliko Dangote, commended President Bola Tinubu for the positive impact of the Naira-for-crude swap deal, noting that it has led to reduction in the price of petrol.

Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, stated: “To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre. This price has already commenced in Lagos, and it will be offered nationwide starting Monday.

“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”

Operational

In a similar development, Chief Corporate Communications Officer of the NNPCL, Mr Olufemi Soneye, in a statement yesterday, insisted that Port Harcourt Refinery was not just operational but loading was in progress.

Soneye stated: “The attention of the NNPCL has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down. We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC. Preparation for the day’s loading is currently ongoing.”

Group blames worsening hunger

Tinubu cancels Lagos outings

IGP orders investigation

Three days after no fewer than 36 persons died in a stampede in Ibadan, Oyo State, many, including children, have died in similar incidents in Abuja and Anambra State while struggling for Christmas palliatives.

The twin incidents, which happened, yesterday, left the nation shocked given that they came on the heels of the Oyo incident.

More than 10 people lost their lives and several others were injured during the distribution of food items by Holy Trinity Catholic Church, Maitama, Abuja.

Sunday Vanguard learned the incident occurred as thousands of residents scrambled to receive palliatives distributed by the church.

A non-governmental organization (NGO), Civil Society Legislation Advocacy Center (CISLAC), blamed the deaths on worsening hunger in the country.

The event, organised to provide relief to struggling residents, attracted over 3,000 people, mostly from Mpape, Gishiri and other nearby settlements.

National Director of Social Communications at the Catholic Secretariat of Nigeria, Rev Fr Mike Umoh, confirmed the tragic development.

He said the exercise had been suspended following the event.

“Yes it’s true but with sketchy details,” the priest said.

An eyewitness described the scene as chaotic and tragic, saying that at least seven of the deceased were children.

Palliatives

Many attendees arrived as early as 4:00 am, hoping to secure their share of the palliatives.
The stampede occurred between 7:00 am and 8:00 am when the crowd surged forward.

“10 people have been reported dead, including children. We just received a call that they have passed on.
“Over 3,000 people came out to receive the palliative. It’s unfortunate. Some of them arrived as early as 4:00 am. Most of those present were residents of Mpape, Gishiri Village, and other nearby settlements.

The stampede occurred between 7:00 am and 8:00 am. The distribution of palliatives has been suspended indefinitely, and people are dispersing. May God receive the souls of the departed and protect us from harm,” the eyewitness, a mother of five, said.

However, a combined team of police, military and Department of State Services,DSS, officers were deployed to restore order and disperse the crowd.

The church premises, initially filled with anxious beneficiaries, gradually cleared as security personnel enforced the suspension.

Similarly, the Anambra stampede, which happened in Okija, Ihiala Local Government Area, saw many people losing their lives while struggling for Christmas rice.

Sunday Vanguard gathered the incident happened when an indigene of the community popularly known as Obijason was distributing his annual Christmas rice.

Bodies

One of the witnesses who recorded the video, who spoke in Igbo language, showed dead bodies of some victims at Our Lady’s Hospital, Okija.

In the viral video, the male voice said: “This thing happened in Okija now. People who went to share Obijason rice, look at people who died. We are in Our Lady’s now.

“They went to share Obijason rice and they were stampeded to death. See all of them, including women. These are people stampeded to death. See people’s dead bodies. They are all dead. They went to share Obijason rice.

“There are a lot of dead bodies. They are still bringing in dead bodies. This happened this morning. Even pregnant women were among them. It is happening now, 21 December. Abomination has happened.

“More dead bodies are still coming. This is Okija. We are in Our Lady’s. These are not those who are unconscious. They are still bringing more. They said what is here is more than 100 dead bodies. Tragedy happened.”

According to another eyewitness, the victims, mostly women and youths, had stationed themselves at the facility as early as 5 a.m. on Saturday, waiting for the distribution to begin at dawn.

Uncontrollable

He said the crowd became uncontrollable when the distribution began, leading to the stampede.
The dead bodies, and those who sustained injuries, were taken to Our Lady of Lourdes Hospital, Ihiala.
In a viral video, dead bodies, including pregnant women, littered the vicinity of the hospital’s mortuary.

Meanwhile, President Bola Tinubu has cancelled all his official events in Lagos in honour of the victims.

A statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said one of Tinubu’s outings included the 2024 Lagos Boat Regatta.

According to the statement, dignitaries, including top officials of Lagos State government and white cap chiefs were already seated when the President cancelled his appearance following briefings on the tragedies.

The President commiserated with victims of the incidents and urged states and relevant authorities to immediately enforce strict crowd control measures.

Tinubu noted that it was very disturbing, saying the events bore a “distressing” resemblance to the recent incident in Ibadan, Oyo State.

“In a season of joy and celebration, we grieve with fellow citizens mourning the painful losses of their loved ones. Our prayers of divine comfort and healing are with them,” Tinubu was quoted as saying.

He reiterated that these mishaps are avoidable if event planners adhere to necessary safeguards and protocols to ensure pre and post-event safety.

Tragedies

Also sympathising with the victims, the presidential candidate of Labour Party, LP, in 2023, Mr. Peter Obi, said the tragedies reflected the systemic failures in Nigeria.

He said:”This morning, reports emerged of at least 10 people losing their lives in Abuja while scrambling for palliatives, with many others injured.

“Now, I just heard that about 19 more lives were lost in another stampede in Okija, Anambra State, as people struggled to receive food items.

“While I will not cast blame, but instead appreciate the organizers of these respective events for their kind gestures in providing palliatives and support to society, especially the poor, these tragedies reflect the systemic failures that plague our society.

“The desperate quest for survival in these harsh economic times has driven our people to extremes in their search for food, often at the cost of their lives.’’

In a related development, Lagos State governor, Mr. Babajide Sanwo-Olu, sympathized with his Oyo State counterpart, Seyi Makinde, and the people of the state over the stampede that occurred during a children’s carnival at Islamic High School, Bashorun, Ibadan, which claimed 35 lives.

Governor Sanwo-Olu, in a letter, titled: “Letter of Condolence – Christmas Stampede Tragedy,” also extended his condolences to the families of the dead.

He described the incident as devastating, saying the event had cast a shadow of grief not only over Oyo State but across Nigeria.

IGP

Also, Inspector-General of Police, IGP, Kayode Egbetokun, has ordered an investigation into the incidents in Oyo, Anambra and Abuja.

In a statement, the IGP ordered commissioners of police in affected states to “carry out thorough investigations into these ugly incidents for further legal actions”.

”The IGP has hereby warned groups and organizers of similar events to ensure the involvement of security agencies as negligence on their part is criminal and would not be overlooked, as provided for in Sec. 196 of the Penal Code and Sec. 344 of the Criminal Code, Laws of the Federal Republic of Nigeria,’’ the statement stated.

Also reacting to the incidents, Civil Society Legislative Advocacy Centre, CISLAC, blamed worsening hunger for the deaths in different parts of the nation.

Execuitive Director of CISLAC, Comrade Auwal Rafsanjani, said this in a statement made available to Sunday Vanguard.

He said: Unfortunately, government appears detached from the realities on the ground and has failed to take necessary steps to address the situation.’

Former Labour Party (LP) chieftain, Kenneth Okonkwo, has called for the resignation of the current crop of leaders in Nigeria to make way for a new generation of leaders.

This is as he blamed the hardship and hunger caused by the reforms introduced by the government of President Bola Tinubu for the recent stampedes which occurred in Ibadan, Maitama, and Okija communities of Oyo, Abuja, and Anambra States in quick succession.

Okonkwo, in a statement released on Saturday via his X account, said the Tinubu government has reduced the worth of Nigerian lives to ₦5,000 and grains of rice.

According to him, the struggle of the people to get rice to satisfy their hunger follows the hardship they’ve been subjected to by the harsh policies of the Tinubu government, which has destroyed their human dignity.

While praying for the souls of the dead victims to rest in peace and for quick recovery for those injured, Okonkwo said the patience of Nigerians is running out, saying Nigeria needs a new crop of leaders.

“The deaths of innocent children and Nigerians in Ibadan, Maitama, and Okija communities of Oyo, Abuja, and Anambra States respectively from stampede resulting from struggles for N5,000.00 and rice is a manifestation that hunger and hardship in Nigeria under Tinubu are becoming unbearable.

“The reforms are excruciating and destructive to the dignity of the human person in Nigeria. Nothing is working. It’s obvious that in Nigeria today, the worth of a Nigerian life is reduced to N5k and grains of rice.

“If these incompetent and corrupt leaders have any sense of shame, they will collectively resign and make way for a new generation of leaders that have a conscience to pilot the affairs of Nigeria.

“The patience of Nigerians is wearing out, and this regime should sit up before the people compel it to sit up. God will not forsake Nigeria. The day of reckoning will come one day.

“May the souls of the departed rest in peace, and may God punish and torture the souls of our demented leaders,” he submitted.

Nine victims of the stampede at the Holy Trinity Catholic Church in Maitama, Abuja, have been discharged from Maitama District Hospital following Saturday’s tragic incident, News360 Nigeria reports.

The Federal Capital Territory (FCT) Minister, Ezenwo Nyesom Wike, ordered free medical treatment for all those injured during the church’s annual food outreach program. The stampede resulted in 10 fatalities, including four children, and left 10 others injured.

A statement by Lere Olayinka, the Minister’s Senior Special Assistant on Public Communications and New Media, disclosed thatgovernment hospitals have been instructed to provide free treatment to the victims. Wike also directed that police approval must be obtained for future public palliative distributions to prevent similar tragedies.

Expressing condolences, Wike prayed for the repose of the souls lost and pledged that the government would ensure proper care for the injured. He praised the swift response of security agencies, which he said helped manage the situation effectively.

Meanwhile, the Acting Director General of the FCT Emergency Management Department (FEMD), Engr. Abdulrahman Mohammed, also extended his condolences to the church and the victims’ families. He confirmed that nine of the injured had been discharged, while urging organizations conducting similar activities to involve security agencies and use organized distribution methods, such as coupons and group divisions, to avoid overcrowding.

Engr. Mohammed further encouraged residents to utilize the 112 toll-free emergency line for prompt assistance in case of disasters.

The chairman of BUA Group, Abdulsamad Rabiu, has commended the economic reforms of President Bola Tinubu, saying, it’s a difficult step taken in the right direction. Mr Rabiu made this point on Friday when he visited the president in Lagos.

Nigeria is witnessing its worst cost-of-living crisis in a generation, caused by the removal of petrol subsidies and the devaluation of the naira.
Mr Tinubu, who came to power about 18 months ago, removed a decades-old petrol subsidy and devalued the currency, sending inflation soaring to 34.60 per cent in November.
Mr Rabiu acknowledged that the reforms are painful but said they were necessary.

“Although we all know that some of the reforms undertaken by His Excellency are still biting, and these reforms, as far as the business community is concerned, were necessary.
“It’s true that some of them are quite painful, but we needed these reforms, especially the foreign exchange unification.”

Aside from the subsidy removal, the Central Bank of Nigeria (CBN) implemented the unification of all segments of the forex exchange (FX) market as part of efforts to engender transparency in the markets and boost investors’ confidence.
Although the policy has been widely applauded as well-intentioned and necessary, it has put additional pressure on the local currency and manufacturers, with ripple effects on prices.

Mr Rabiu also commended the unification of the forex exchange.

“You will remember that the exchange rate at N500 and then outside it was N800. That was not acceptable. So that has actually been unified and initially it was quite difficult, we saw the exchange rate at a point hit maybe almost N2000, now it’s finding its balance, we are at about N1,500 – N1,550 naira and I’m sure we’ll see the rate come down even further.”

“So I believe that some of these reforms… yes, initially, they were a bit of a challenge, but things are getting much better now, and I’m quite confident and optimistic that things will definitely get better in Nigeria. Mr President is doing a lot, the government is really doing so much to ensure that there is stability within the economy and other sectors of the economy,” Mr Rabiu said.

Like Mr Rabiu, recently, the International Monetary Fund welcomed reforms that are being implemented by Mr Tinubu’s government, and it forecast faster economic growth in the West African nation and other key economies on the continent.

Mr Rabiu also commended the infrastructural reforms undertaken by the Tinubu Administration.

“We can see what is going on as regards our infrastructure, a lot roads works are going on and I believe, given a bit of time, things will definitely get better. We need to be a bit patient, these reforms do take time.

“This government has only been in power for 18 months and they have another 24 months or so, I think we need to give them time and I’m sure things will definitely get better.”

Security agents have arrested popular Nigerian TikToker, Seaking, hours after hurling insults at President Bola Tinubu, Lagos State Governor, Babajide Sanwo-Olu and the Inspector General of Police, Kayode Egbetokun.

Seaking released a video on Saturday, December 20, abusing Tinubu, Sanwo-Olu, and Egbetokun.

The Tiktoker references a statement by the Police Public Relations Officer, Muyiwa Adejobi, that the security agency will begin arresting anyone who insults government officials.

Seaking expressed his anger at the news and wondered why the police would attempt to go after anyone who insults them and not after criminal minds.

In a video making the rounds on social media, the Tiktoker looked all sombre as some security agents were seen interrogating him.

Meanwhile, Human Rights lawyer, Effiong Inibehe, has said the Force Headquarters Public Relations Officer, Olumuyiwa Adejobi, misinformed citizens by stating that curse is cyberbullying.

Adejobi, on his X handle, on Thursday warned citizens to desist from cursing other citizens. He stated that curse as cyberbullying is a criminal offence.

“Raining direct curses on someone online is cyber bullying, not expression of freedom or criticism. And cyberbullying, which is even different from defamation, is a criminal offence and punishable. Be guided,” Adejobi said.

In reaction, Inibehe challenged the Nigeria Police spokesman to back his claim with a constitutional provision.

“This is ignorance of the law. The fact that this very ridiculous opinion is from the spokesperson of the primary law enforcement agency in Nigeria says a lot about the decadence of our institutions.

“To be clear, raining curses on someone is not a criminal offence, and I challenge the Force PRO to cite any law that supports his statement.

“By virtue of Section 36 (12) of the Nigerian Constitution, for an act or omission of be termed a crime, it must be expressly and specifically defined as such under a written law,” he stated.

While emphasizing civility, Inibehe called on Nigerians to ignore the misleading statement from Adejobi.

The Federal Government of Nigeria has earmarked a total of ₦6,364,181,224 billion for the refurbishment and rehabilitation of the residential accommodations for President Bola Ahmed Tinubu, Vice President Kashim Shettima, and several of their aides in the proposed 2025 budget.

The proposed funding was highlighted in the 2025 Appropriation Bill submitted to the National Assembly, which indicates that the annual upkeep of the Presidential Villa is projected to cost ₦5.49 billion.

The proposed budget allocates ₦765 million for renovating the Vice President’s residence and guest house.

The refurbishment of the President’s quarters at the State House is estimated to cost ₦6.39 million, while the renovation of security quarters, the auditorium, the gymnasium, and quarters for presidential aides will amount to N49 million.

Additionally, the renovation of Prescott Barracks, the officers’ mess building, and the signal office in Asokoro, Abuja, is projected to cost ₦51 million.

Further examination of the budget indicates that President Tinubu and Vice President Shettima are anticipated to receive ₦87 million for honorarium and sitting allowances, while ₦127 million has been allocated for the acquisition of SUVs.

Moreover, ₦3.66 billion has been budgeted for the procurement of operational vehicles for the State House, and ₦1.09 billion will be allocated for the replacement of SUV vehicles at the State House.

The budget for the State House Lagos Liaison Office includes an allocation of ₦14.72 million designated for the routine maintenance of various facilities, including Dodan Barracks and the Vice President’s guest houses located in Ikoyi, among others.

Additionally, a sum of ₦140.10 million has been earmarked for the completion of renovations and furnishing of the State House annexe at Dodan Barracks in Lagos.

In a related development, the Federal Government intends to invest ₦1.83 billion in converting properties forfeited to the Economic and Financial Crimes Commission (EFCC) into quarters for the State House.

This initiative coincides with the EFCC’s announcement regarding the recovery of a substantial estate in the Lokogoma District of Abuja, which spans 150,500 square meters and comprises 753 duplexes and other residential units.

The commission characterized this recovery as its “largest asset recovery” since its establishment in 2003.

The estate is situated on Plot 109, Cadastral Zone C09 of the district, and was forfeited on December 2, 2024, following a ruling by Justice Jude Onwuegbuzie.