The Minister of Power, Adebayo Adelabu, on Wednesday, pleaded with the National Chairman of the ruling All Progressives Congress, Dr Abdullahi Ganduje, to leverage the party’s recent victories in Edo and Ondo States to salvage Oyo from the grasp of Governor Seyi Makinde.

Adelabu made the appeal when he led a delegation of Oyo state executives and APC lawmakers on a courtesy visit to the National Working Committee of the party at its secretariat in Abuja.

While blaming the loss of the state to the opposition Peoples Democratic Party on their face-off, the minister assured the party leadership that Oyo APC has learnt its lesson by uniting all factions and aggrieved chieftains in the state.

He said, “So we want you to help us guide and support our state chairman so that he can also achieve the success you have demonstrated at the national level. I believe he shall learn. We are happy that for the first time, after the last elections, Oyo APC can now speak with one voice.

“There is no faction in Oyo State APC again and we are more determined than ever before to take over the governance in Oyo State. I believe we lost the last two elections, not to the non-popularity of the party in the states or due to lack of effort on our part, but to division. A house that is divided against itself will surely fail. Oyo State is an APC State. We all know that.

“In 2019, when I was the governorship candidate, we had divisions. We could not achieve effective reconciliation before the election. We had two senators and about 10 House of Representatives members. So you know that Oyo State APC is a grassroots party and it is a party of the masses.”

While praising Ganduje, Adelabu also extended the plaudit to President Bola Tinubu, who he said has shown courage and leadership since the day he was just inaugurated into office.

Welcoming the delegation, Ganduje stated he was happy that Oyo has succeeded in resolving its crisis and has shown enough commitment to reclaim the state.

He said, “Oyo is part of our blueprint which we call political party homogeneity. We have been looking for unity and uniformity in Oyo State, which we are now seeing. You should organise a mega stakeholders meeting in Ibadan that will involve all the members of the party to the point that the opposition will be intimated.

“We made it clear when we came on board that it will not be business as usual. We want your party offices from the ward, local government and state levels to be physically habitable and functionally operational by having constant meetings.

“That is how you can be connected and coherently alive and, more importantly, intimidate the opponents. The task before us and the 2027 general election is to recover all the House of Reps seats we lost through the death of some members. The seat belongs to the APC, and it is our duty to see that we recover it.”

An international journalist and former supporter of the Obidient Movement, Donu Kogbara, says the 2023 Labour Party (LP) presidential candidate, Peter Obi, is no longer living up to expectations.

According to her, Peter Obi motivated a lot of Nigerians and garnered a lot of supporters in the build-up to the 2023 elections, but his pedigree has nosedived after the election.

Speaking against the backdrop of recent high-profile defections from the Labour Party, Kogbara said the party is like a sinking ship, and the politicians have to fight for their survival.

She maintained while speaking in an interview with Arise News that even though Obi remains a good man, he has not been able to provide the kind of opposition leadership which got him so much support from youths and other Nigerians in the build-up to the 2023 elections.

Kogbara said many supporters of the obedient movement have become disappointed in Obi.

In her words, “Well, rats have always deserted sinking ships, so the Labour Party should say bye-bye to those five lawmakers. They’re entitled to do what they want if it’s within the ambit of the law, which I’m not even sure it is. But for me, the Labour Party is clearly in crisis. We had all that drama around their chairmanship and the traitor, who was on the take from outside elements.

“I just can’t bear people who lack honour. So, there was that whole crisis and then there were other things that made it difficult for Labour Party to function as a proper party. But the thing that depresses me most is not so much what the senators and House of Representatives people do; it is Peter Obi himself.

“I just don’t understand how somebody who was this sparkling inspirational figure, who created a movement almost overnight, galvanized the youths, the intellectuals, anybody who had any iota of principle in their bloodstream, at least admired him to some extent even if they weren’t necessarily going to vote for him for whatever reason, has gone from top to bottom.

“As far as I’m concerned, he’s like a firework that has turned into a damp squib. He’s become so prosperous. All I see is him making anodyne statements here and there on television, donating boreholes or whatever. It’s all good stuff. He’s still a good guy but where is the leader that the opposition needs so desperately? He’s not looking like it.”

Kogbara added that not just Obi, but the entire opposition movement in Nigeria, including Atiku Abubakar, are not doing enough to put the government of President Bola Tinubu on its toes.

She further blamed the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for the crisis rocking the Peoples Democratic Party (PDP).

She, however reserved the largest part of the blame for Obi, labelling him such a disappointment with no aggression to tackle the current government for its lousiness and failures.

“I blame the entire opposition, the Peoples Democratic Party (PDP), for allowing itself to be derailed by my dear friend, Nyesom Wike. By the way, I saw him a couple of months ago and I told him that ‘if I was a PDP Mandarin, I would have tossed you out by now.’ I also blame Atiku Abubakar of spending more time as a Dubai type of big man and not effectively taking on the government.

“And I blame Peter Obi most of all because Peter was a shining star and so many people committed themselves to him emotionally, myself included. I’m not Obidient anymore, to be honest with you, because he’s such a disappointment. I mean, there’s no aggression.

“The government is lousy. And pretty much the only good thing I can think that President Bola Tinubu has done is to keep herdsmen at bay because I’ve noticed there haven’t been any herdsmen shenanigans since Tinubu came in. So, I congratulate him for that if indeed it is his doing.

“But it’s kind of like, there are so many things this government is doing wrong, contracts being awarded without due process, economic collapse, rampaging inflation, widespread hunger and disillusionment and you never hear anything seriously punchy from Peter Obi,” she submitted.

The National Agency for Food and Drug Administration and Control has closed an illegal production facility in the Ipaye area of Iba, Lagos, for manufacturing unregistered cosmetic products.

In an official post on X (formerly Twitter), NAFDAC released videos and images of the operation, showcasing the seized items and the facility’s unhygienic conditions. The agency emphasised that the unregulated products posed a direct threat to public health, especially as they were produced without adhering to safety standards or obtaining the necessary approvals.

The facility was found manufacturing unregistered cosmetic products, posing significant risks to consumers.

After weeks of thorough surveillance, NAFDAC officials executed a raid on the premises, uncovering a large cache of unregistered items. Confiscated products included body washes, cleansing soaps, skin-lightening creams, and children’s skincare items. Authorities also seized packaging materials, suggesting the scale of the operation was aimed at mass distribution.

The agency disclosed that the production site had been sealed to prevent further illegal manufacturing activities. One individual connected to the operation has been apprehended and is currently in custody, assisting investigators with further inquiries.

NAFDAC reaffirmed its commitment to protecting Nigerian consumers from the dangers of unsafe and unregulated products.

“NAFDAC reiterates its commitment to protecting public health by clamping down on unregulated and unsafe products in the markets. ” the post read.

The agency also urged the public to exercise caution when purchasing cosmetic products and to report suspicious or unregistered items to NAFDAC.

The budget prioritises defence, infrastructure, and human capital development, with a projected deficit of N13.39tn to be financed through borrowing.

Speaking at the National Assembly, Tinubu stressed his administration’s commitment to strengthening security and revamping the nation’s infrastructure.

In the appropriation bill document obtained by our correspondent, the State House, which serves as the administrative hub for the executive arm, will spend N164m for the purchase of tyres for bulletproof vehicles, plain cars, jeeps, platform trucks, and other utility and operational vehicles.

Out of the sum, N1.1bn was earmarked for the replacement of SUV vehicles, and N3.66bn for the purchase of State House operational vehicles.

It stated that N127.86m will be spent on the procurement of SUVs for Mr President and the Vice President. This cost will be undertaken under the office of the President.

Similarly, N285m will be spent for the purchase of motor vehicles under the office of the Chief of staff to the president, while the Chief security officer to the President got an allocation of N179.63m for the purchase of security and operational vehicles.

Further checks showed that N2.12bn was allocated for honorarium and sitting allowances and proposed spending of N1.83bn for the construction of an office complex for Special Advisers and Senior Special advisers.

The PUNCH had earlier reported that the proposed 2025 Appropriation Bill under review by the National Assembly has an allocation of N4.91tn for defence and security while infrastructure will receive N4.06tn for projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway.

The President also announced significant allocations for education and health. Education will receive N3.52tn, which includes funding for Universal Basic Education and nine new higher institutions, while the health sector will get N2.48tn to improve healthcare systems and provide essential drugs for public hospitals.

The budget is based on key economic assumptions, including a projected decline in inflation from 34.6 per cent to 15 per cent and an improvement in the naira exchange rate from N1,700 per dollar to N1,500 per dollar.

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has ordered the revocation of 762 plots of land belonging to former President Muhammadu Buhari, Secretary to the Government of Federation, George Akume, Speaker of the House of Representatives, Tajudeen Abbas, and former Chief of Justice of Nigeria, Walter Onnoghen and corporate organisations for failing to pay for the Certificates of Occupancy (C-of-O) of the properties in Abuja.

Naija News learnt that the Federal Capital Territory Administration (FCTA), in public notices issued on the development, revealed that the plots are located in the high-brow Maitama 1 District of the federal capital.

Wike also threatened to withdraw the Rights of Occupancy (R-of-O) of 614 other individuals and companies if they did not pay their outstanding bills for their plots within two weeks.

Other prominent individuals affected by the revocation include former Governors Rochas Okorocha of Imo State, Ben Ayade of Cross River, Seriake Dickson of Bayelsa, Shaaba Lafiagi of Kwara, Ahmad Sani of Zamfara and Kabiru Gaya of Kano.

Former and serving federal lawmakers affected are Enyinnaya Abaribe, Abdul Ningi, Sunday Karimi, Abdulfatai Buhari, Dino Melaye, Barnabas Gemade, Shehu Sani, Adeyemi Adaramodu, Abba Moro, Danjuma La’ah and Abdulmumin Jibrin.

Other former and serving lawmakers whose plots were withdrawn are Agom Jarigbe, Obinna Chidoka, Nicholas Mutu, Dan Reneiju, Ezenwa Oyewuchi, Chinyere Igwe, David Umaru, Oluwole Oke, and Oker Jev.

The notice said, “The Federal Capital Territory Administration wishes to inform the allottee (s)/title holder (s) of plots of land in Maitama 1 who have failed to make payment for their Certificate of Occupancy (C-of-O) bills after the expiration of grace period granted by the Honourable Minister, Federal Capital Territory that their Right of Occupancy to the land/property have been withdrawn, pursuant to the provisions of Section 28 of the Land Use Act of 1978 for contravention of the terms of grant which obligated the title/interest holders to settle all bills.

“Section 28 of the Land Use Act, to which the FCTA notice referred, stipulates how landed properties vested in individuals can be revoked by authorities. Subsection Five (5) empowers state governors (the Minister of the FCT in the case of Abuja) to revoke a statutory right of occupancy on the ground of-
(a) a breach of any of the provisions which a certificate of occupancy is by section 10 of this Act deemed to contain;
(b) a breach of any term contained in the certificate of occupancy or in any special contract made under section 8 of this Act.

“The non-payment of statutory fees by landowners are considered violations for which allocated plots can be revoked.”

According to Premium Times, former and serving lawmakers also on the list are the Chief Whip of the Senate, Tahir Monguno, former Deputy Speaker of the House of Representatives, Chibudom Nwuche, former Senate Leader, Teslim Folarin, Nnenna Ukeje, Obinna Chidoka, Dapo Lam-Adesina, Leo Ogor, Francis Alimkhena, Smart Adeyemi and Lynda Ikpeazu.

Others are Andy Uba, Biodun Olujimi, Agom Jarigbe, Kingsley Chinda, and Ben Obi.

Former Ebonyi State Governor, Sam Egwu, former Minister of Aviation, Stella Ofuah and the incumbent Deputy Governor of Edo State Dennis Idahosa, were also threatened with revocation.

Mr Egwu is also a former education minister and senator while Ms. Oduah represented Anambra North in the upper chamber.

The notice added, “The Federal Capital Territory Administration hereby informs the general public, particularly allotee (s)/title holder (s) of land in the Maitama 1 District of the FCT who have since made payment of their outstanding Certificate of Occupancy (C-of-O) bills to as a matter of urgency pay the balance of their bills within two weeks from the date of this publication or have their Rights of Occupancy (R-of-O) titles withdrawn.”

The Major Energy Marketers Association of Nigeria (MEMAN) has reported a slight decline in the landing cost of Premium Motor Spirit (PMS), commonly known as petrol, indicating some stability in the downstream sector.

Naija News reports that the landing cost dropped marginally to ₦970 per litre in December 2024, compared to ₦971 per litre in November.

This reduction aligns with a recent dip in crude oil prices, which fell to $73.77 per barrel on Wednesday from $74 per barrel the previous week.

In its daily energy bulletin, obtained by Vanguard, MEMAN attributed the latest landing cost to an exchange rate of ₦1,533.57/$ and a crude oil price of $73.91 per barrel (Brent).

The association noted: “International petroleum product pricing is experiencing significant volatility due to geopolitical and economic factors, including events in the Middle East, China market dynamics, and the market of the recent USA elections outcome.

“The foreign exchange rate is also experiencing volatility. Landing cost, being fundamentally influenced by these elements, is likely to change several times intra-day.”

Despite the changes in landing costs, the retail price of petrol in Lagos has remained steady at ₦1,025 per litre.

Speaking on the situation, Ehimen Joseph, Chairman of the Lagos State Chapter of MEMAN, explained: “The price of petrol is determined by market forces under a deregulated market regime. A drop in price is possible.”

Adding to this perspective, Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), remarked: “The price of petrol cannot just drop spontaneously, as marketers have large stocks. Until it is finished, there will be no reduction.

“But the fall in price is possible over time based on market forces and foreign exchange volatility. In other words, fuel price reduction cannot be spontaneous. The market will definitely have a lag, that will be sustained within a month or two pending marketer’s depleted stocks and sustainable foreign exchange.”

President Bola Tinubu’s government is planning to spend N8.97tn of its projected N49.70tn budget on defence and security and infrastructure in 2025, The PUNCH has learnt.

Tinubu on Wednesday presented the 2025 budget proposal to a joint session of the National Assembly, outlining an ambitious N49.70tn spending plan titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity.”

The budget prioritises defence, infrastructure, and human capital development, with a projected deficit of N13.39tn to be financed through borrowing.

Speaking at the National Assembly, Tinubu stressed his administration’s commitment to strengthening security and revamping the nation’s infrastructure.

Defence and security were allocated N4.91tn, while infrastructure will receive N4.06tn for projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway.

The President also announced significant allocations for education and health. Education will receive N3.52tn, which includes funding for Universal Basic Education and nine new higher institutions, while the health sector will get N2.48tn to improve healthcare systems and provide essential drugs for public hospitals.

He emphasised the need to empower young Nigerians and improve access to quality healthcare as part of his administration’s human capital development strategy.

Tinubu noted that the government expected N34.82tn in revenue for 2025, leaving a deficit of N13.39tn, representing 3.89 per cent of Nigeria’s Gross Domestic Product.

He explained that the deficit would be financed through borrowing, stressing that this approach is necessary to achieve the government’s developmental goals.

The budget is based on key economic assumptions, including a projected decline in inflation from 34.6 per cent to 15 per cent and an improvement in the naira exchange rate from N1,700 per dollar to N1,500 per dollar.

The administration also expects oil production to reach 2.06 million barrels per day, driven by increased export capacity and reduced upstream costs.

“The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society,” Tinubu stated.

“In 2025, we are targeting N34.82tn in revenue to fund the budget. Government expenditure in the same year is projected to be N49.70tn, including N15.81tn for debt servicing.

“A total of N13.08tn, or 3.89 percent of GDP, will make up the budget deficit. This is an ambitious but necessary budget to secure our future.

“The budget projects inflation will decline from the current rate of 34.6 per cent to 15 per cent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day.”

Reflecting on economic achievements, Tinubu highlighted that Nigeria’s GDP grew by 3.46 per cent in the third quarter of 2024, compared to 2.54 per cent in the same period of 2023.

He added that foreign reserves now stand at $42bn, providing a buffer against external shocks, while the trade surplus has risen to N5.8tn, indicating the positive impact of export growth.

The President acknowledged the challenges facing the economy, including inflation and insecurity, but assured Nigerians that the reforms undertaken by his administration were beginning to yield results.

He expressed optimism that sacrifices made during the reform process would pave the way for long-term economic stability and growth.

Tinubu described the 2025 budget as a continuation of his administration’s efforts to rebuild the economy and foster inclusive growth.

He emphasised the importance of enhancing national security, revitalising infrastructure, and investing in agriculture to achieve food security and reduce hunger. He also reiterated his administration’s commitment to supporting the private sector as a key driver of economic transformation.

In his closing remarks, Tinubu called for collective action to address the country’s challenges, urging Nigerians to support the government’s efforts to secure peace and rebuild prosperity.

The Director-General, Budget Office of the Federation, Tanimu Yakubu, described the budget as a bold response to Nigeria’s pressing challenges, designed to restore stability and rebuild trust in governance.

He noted that the Federal Government projects total revenue of N36.35tn for 2025, driven by improved non-oil revenue streams, including expanded tax collections, customs duties, and earnings from government-owned enterprises.

The 2025 budget proposal now awaits deliberation and approval by the National Assembly.

Lawmakers laud budget

Meanwhile, lawmakers lauded the budget, stating that it caters to the needs and welfare of Nigerians.

The Senate Committee on Customs Chairman, Senator JimIsah Jibrin, emphasised the importance of addressing Nigeria’s burgeoning debt burden.

“So much, about 15 per cent of the budget expenditure, is earmarked for debt servicing. This is enormous,” he remarked.

“We need to avoid what I call a ‘debt peonage system’—a cycle where we’re constantly in debt. The only way out is to significantly improve our revenue generation capacity.”

He also highlighted the need for revenue-generating agencies like the Federal Inland Revenue Service and Customs to “step up their game” to reduce deficits.

Similarly, Senator Victor Umeh praised the budget for its focus on critical areas like security, education, and infrastructure.

“This budget identifies the major challenges confronting our nation, such as insecurity, infrastructure, and human capital development,” he said.

“These are areas that will ensure Nigeria is on the path of sustainable growth if addressed.”

On the delayed presentation of the budget, Umeh noted, “Many projects captured in the 2024 budget remain unexecuted.

“We’ve agreed to roll them over to June 2025, so the timing of this budget is not a major issue. But by February 2025, we should have it ready for implementation.”

Senator Adams Oshiomhole lauded the President’s realistic approach but cautioned against complacency.

“The task of a leader is to give hope. While reforms can be painful, the absence of reforms would lead to stagnation,” Oshiomhole asserted.

 He commended the budget for addressing key areas like exchange rate stability and crude oil production, saying, “We can see the light at the end of the tunnel, but the National Assembly must ensure proper oversight to turn these figures into tangible results.”

“We owe it to Nigerians to ensure that every figure and allocation in this budget reflects their best interests,” Oshiomhole said.

Chairman, Senate Committee on Capital Market and Institutions, Senator Osita Izunaso, added that the emphasis on security, infrastructure, and human capital development is commendable, with allocations for defense and security reaching an unprecedented N4.91tn

Despite the optimism, Senator Izunaso stressed the importance of translating these allocations into better living standards for Nigerians.

“The average citizen wants to know how this budget will improve their lives. If oil production increases and food importation reduces as promised, we may begin to see positive changes,” he concluded.

Senator Jimoh Ibrahim praised the budget’s data-driven approach, emphasizing its alignment with economic realities.

“The exchange rate projection of N1,500 to $1 and the growth rate target of 4% in 2025 are grounded in data analysis, which gives hope for stability and progress,” he said.

He added, “A N1,500 exchange rate is more realistic than what you saw in the previous year. So right now, the exchange rate used for this budget is 1,500 US dollars. And that is not bad at all.

“The foundation where the budget is based is also very unique in terms of data collection and data analysis. So, from the data, I can tell you very well that it’s reassuring that there’s good hope for 2025.”

Meanwhile, after the 2025 budget presentation to them at the joint session by President Tinubu, both Chambers of the National Assembly set machinery in motion to extend the capital component of the 2024 budget to June 30, 2025.

Legislative action in that direction was taken by the listing bills for that purpose on their Order paper, which passed the first and second reading in the Senate on Wednesday.

Isunazo said, “The budget is coming late. Today is December 18, so we will lose that culture of beginning a new year with a new budget. Nevertheless, the budget has a lifespan of 12 months.

“So whenever we pass it, it will have a lifespan of 12 months. Even after 12 months, we still have the liberty to extend it.  In fact, we are extending the 2024 budget today.

“But that culture of starting on the 1st of January, we have lost it. The executive ought to have brought this budget way before now. But I believe that maybe they are putting things together.

“They wouldn’t want to delay deliberately bringing the budget to the National Assembly.”

“So, I’m saying that that is not a problem, but we have lost that culture.”

The National Assembly also declared Wednesday in Abuja that it would not kill the Tax Reform Bills forwarded to it for consideration and passage by President Bola Tinubu in October of this year.

It said that rather than killing the well-envisioned bills, it would engage Nigerians who have wrong notions about it, change their minds, and get it passed.

Budget hopeless – PDP

Meanwhile, the Peoples Democratic Party has labeled President Tinubu’s N47.9tn budget proposal to the National Assembly as “unrealistic, opaque and insincere.”

In a statement issued on Wednesday by the party’s National Publicity Secretary, Debo Ologunagba, the PDP cautioned that if implemented as outlined, the budget would further worsen the nation’s insecurity, poverty, and despair.

The statement read in part “The Peoples Democratic Party describes the N47.9 trillion 2025 federal budget estimates as presented by President Bola Ahmed Tinubu to the National Assembly today as anti-people, which if implemented as presented will plunge the nation deeper into the abyss of insecurity, poverty and hopelessness.

“The party asserts that the budget as presented further confirms the insensitivity of the Tinubu-led All Progressives Congress administration towards the plight of Nigerians as it made no meaningful provisions and investments for critical productive sectors of agriculture and food production, electricity, petroleum and gas, Small and Medium Scale Enterprises, which are the real drivers of the national economy.

“The PDP states that the budget address sounded more like a campaign rhetoric laced with unsubstantiated economic statistics, false promises and conjured performance claims without clear-cut operable steps and mechanisms to address insecurity, resuscitate the economy, revamp ailing industries, shore up food production, increase the value of the Naira, reduce overall cost of living, create jobs for our youths and guarantee better living standard for citizens.

“President Tinubu dashed the hope of millions of suffering Nigerians who expected him to use the 2025 budget to make strategic provisions that will lead to the reduction in the cost of fuel, food items, electricity tariff and other essential goods and services that have direct bearing on the wellbeing of the people.”

The PDP urged Nigerians to observe that the President, in his speech, neglected to reveal the capital and recurrent details of the 2025 budget.

“The PDP is dismayed that instead, the budget speech was an assault on the sensibility of Nigerians when Mr. President claimed that the 2024 budget recorded a bogus 85 per cent performance without a breakdown of the component between recurrent and capital expenditure.

“Further distressing is President Tinubu’s claim that the economy improved under his watch even in the face of acute poverty, excruciating hardship, comatose infrastructure, collapsed productive sectors, deteriorating value of the Naira, alarming 34.6 per cent inflation and 40 per cent unemployment rates in the last 18 months as validated by official figures.

“Equally ludicrous is Mr. President’s voodoo economy claim that the 2025 budget will reduce the current inflation rate from 34.6 per cent to 15 per cent and improve the value of the Naira from approximately N1,700 to the Dollar to N1,500 without any indices for tangible investment in the productive sector and in the face of a staggering N134.3 trillion ($91.3 billion) debt accumulated under the APC watch.

“The PDP invites Nigerians to note that the President in his speech failed to disclose the Capital and Recurrent profiles of the 2025 budget. This has heightened public apprehension on the issue of full disclosure and transparency in government spending under the current administration.

“Given the crippled national productive sector, it is clear that with the N47.9 trillion expenditure including N15.8 trillion provision for Debt Services, the projected N34.8 trillion revenue with N13 trillion deficit will be financed by excruciating taxes and levies on already impoverished citizens and companies operating in the country.”

Reps recommend exclusions

The House of Representatives Public Accounts Committee has called for the removal of the National Examination Council, the University of Ibadan, Federal Ministry of Labour and Employment, and 21 other ministries, departments, and agencies from the 2025 budget

This followed what the committee called their repeated failures to account for previous budgetary allocations and internally generated revenues.

The resolution of the committee followed the adoption of its recommendation during its extraordinary sitting on Wednesday.

According to the committee, the affected agencies and institutions had consistently shunned summons aimed at ascertaining their financial administration.

Among the agencies recommended for delisting are some of Nigeria’s most prominent federal institutions, including hospitals, universities, and development agencies.

The MDAs recommended for delisting include the Federal Medical Centre, Bida, Federal Ministry of Labour and Employment, the Ahmadu Bello University Teaching Hospital, Zaria, Nigeria Police Force,  Department of Information and Communication Technology and the Federal College of Education (Technical) Asaba, Delta State.

Others are the Federal College of Education, Yola, Adamawa State, Federal Polytechnic Ekowe, Bayelsa State, Abubakar Tafawa Balewa University Teaching Hospital, Bauchi, Federal University of Technology, Minna, Cross River Basin Development Authority, Nigeria Office for Trade Negotiation, the National Examination Council, Nigeria Police Academy, Wudil and  Presidential Amnesty Programme, among others.

Also included are the National Health Insurance Authority, Nigeria Nuclear Regulatory Authority, National Space Research and Development Agency, Federal Cooperative College, Ibadan, Upper Niger River Basin Development Authority, University of Lagos, University of Ibadan and Federal School of Survey, Oyo State.

The Chairman of the Committee, Bamidele Salam, said, “The Financial Regulation empowers the National Assembly to exclude any ministry, department, or agency that fails to account for their previous appropriations. As such, the listed MDAs should be excluded from the 2025 budget until they appear before this constitutional committee.”

The committee unanimously recommended that the 24 MDAs should be excluded from the 2025 budget until they appear before the National Assembly.

President Bola Tinubu says he has no plans to reverse the economic reforms embarked upon by his administration.

President Tinubu noted that the journey has not been easy, but it is a necessary sacrifice Nigerians have to pay for the greater good of the nation.

He acknowledged the difficulties Nigerians have had to endure as a result of the economic reforms and urged the citizens to believe in the process, promising that there would be light at the end of the tunnel.

Naija News reports the President made the declaration on Wednesday while delivering his speech during the presentation of the ₦47.9 trillion 2025 budget proposal to a joint sitting of the National Assembly in Abuja.

“The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey we chose but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.

“The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.

“We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence,” the President said.

President Bola Tinubu has allocated a total sum of N15.81 trillion for debt servicing in his proposed 2025 “restoration budget”. Tinubu disclosed this while presenting the N47.9 trillion budget proposal to a joint session of the National Assembly on Wednesday.

He said the government is targeting N34.82 trillion in revenue to fund the 2025 budget, while adding that government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.

“The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society. In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.

“Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing,” Tinubu said, adding “I promise we have to bring it down.”

The President noted that a total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit. Taking top position in the sectoral allocation of the budget proposal is defence and security with N4.06 trillion. Health takes N2.4 trillion while Education gets N3.5 trillion.

Tinubu further noted that inflation was projected to go down from its current 34.6 per cent to 15 per cent while exchange rate was projected to be brought down from N1,700 to a dollar to N1,500.

The Oyo State Government has announced the arrest of the organisers of a children’s party in Ibadan which led to the death of about 30 children.

The deadly stampede occurred at a children’s Christmas party in Ibadan, Oyo State capital.The incident took place on Wednesday morning at the Islamic High School in Bashorun, Ibadan.

It is understood that the party was organized by Queen Naomi Silekunola Ogunwusi, ex-wife of the Ooni of Ife, in collaboration with Agidigbo 88.7 FM, Ibadan, owned by Oriyomi Hamzat.

Confirming the development, Governor Seyi Makinde said the main organizers have been taken into custody. He also disclosed in a statement that the government has commenced a thorough investigation into the matter.

The statement said: “Earlier today, an incident occurred in Islamic High School Basorun, the venue of an event organised for families. Sadly, a stampede at the venue has led to multiple loss of lives and injuries.

“This is a very sad day for us here in Oyo State. We sympathise with the parents whose joy has suddenly been turned to mourning due to these deaths.

“We have taken steps to ensure no further deaths are recorded at this venue by deploying security agents to restore order at the venue. We also deployed medical personnel and ambulances to the venue. The event has been stopped, and attendees have been escorted out of the venue. We are taking all realistic measures to ensure that the venue is secured.

“While investigations are ongoing, the primary organisers of the event that led to this stampede have been taken into custody.

“I want to reassure our people that anyone directly or remotely involved in this disaster will be held accountable. Please remain calm as the security agencies investigate this unfortunate incident.”

“Our hearts remain with the families and loved ones impacted by this tragedy. May the souls of the departed rest in peace. Amen,” Makinde added.