The federal government, under the leadership of President Bola Tinubu, has proposed the sum of ₦47.9 trillion as the budget for the 2025 fiscal year.

The figure, which includes new borrowings of ₦9.22tn, was approved by the Federal Executive Council (FEC) during its meeting on Thursday at the Aso Rock Villa in Abuja.

The Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House correspondents after the FEC meeting presided over by President Tinubu.

Bagudu also disclosed that the Council approved the Medium Term Expenditure Framework (MTEF) for 2025-2027.

According to the Minister, the federal government pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels for its budget proposal.

He added that FEC also pegged the exchange rate at N1,400 to a US dollar while 6.4 percent is targeted for the Gross Domestic Product (GDP) growth.

Bagudu said, “The Federal Executive Council approved a memorandum by the Ministry of Budget and Economic Planning, presented by the Director General of the Budget Office, Tanimu Yakubu, on the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2025-2027.”

The Minister added that the framework would be transmitted to the National Assembly on Friday, November 15, or Monday, November 18.

The parameters adopted include “an oil price benchmark of $75 per barrel for 2025, oil production of 2.06 million barrels per day, an exchange rate of N1400 to $1, and a GDP growth of 4.6 per cent,” Bagudu noted.

“For 2025, the Federal Government’s budget estimate for aggregate expenditure is N47tn, including a borrowing of N13.8tn, which is 3.87 per cent of the estimated GDP.

“This includes projections, with, for the first time, provisions for contributions to the development commissions that have been approved by the National Assembly.

“The budget size approved for presentation to the National Assembly in the MTEF is N47.9tn, with new borrowings of N9.22tn to finance the budget deficit in 2025. We aim to sustain the commendable market deregulation of petroleum prices and the exchange rate, compel the Nigerian National Petroleum Corporation Limited to significantly lower its oil and gas production costs, and potentially amend relevant sections of the Petroleum Industry Act 2021 to address key risks to the Federation,” he added.

The Inspector-General of Police (IGP) Kayode Egbetokun has banned security aides and escorts from accompanying VIPs to polling booths and collation centres during the upcoming Ondo governorship election, on Saturday, November 16.

The move, announced Thursday in a statement by police spokesperson Olumuyiwa Adejobi, aims to promote a peaceful, transparent, and credible electoral process.

The IGP has appointed Deputy Inspector-General Sylvester Alabi as the coordinating DIG for the election to ensure proper security management. Assistant Inspector-General Bennett Igweh and Commissioner of Police Tunji Disu will serve as AIG and CP elections, respectively.

The statement further imposed restrictions on movement across roads, waterways, and other transportation methods in Ondo state from 6 a.m. to 6 p.m. on election day. However, exceptions are allowed for essential services such as ambulances, media personnel, and fire services.

“Security aides and escorts attached to VIPs are banned from accompanying VIPs to polling booths and collation centers to prevent disruptions,” the IGP’s statement reads. Unauthorized security and quasi-security personnel are also prohibited from operating, and a strict ban on siren use by unauthorized vehicles will be enforced.

To ensure accessibility, special accommodations will be made for individuals with disabilities, pregnant women, nursing mothers, and others with mobility challenges at polling stations. Additionally, designated election lines will be announced for inquiries and incident reporting.
 

The Rapid Response Squad (RRS) of the Lagos State Police Command has apprehended three suspects for allegedly stealing two phones from an accident victim on Governor's Road, Alausa, Ikeja.

It was gathered that the suspects were apprehended on Wednesday night while searching the victim's pockets and vehicle instead of offering assistance.

This was made known in a statement by the RRS on Thursday.

The statement identified the suspects as,  Isaiah Adegbenro (38), Edet Johnson (30) and Efe Sowemimo (28) were arrested few meters aways from the accident point while trying to escape with the phones.

"The accident victims were heading towards Ikeja in a red Toyota Camry 2010 when the driver lost control of the vehicle and rammed into a road divider in front of Adeyemi Bero end of Governor Road, Alausa, Ikeja.

"The three suspects who were close to the scene when the accident happened, rather than assist the driver and the occupants out of the badly damaged vehicle, were ransacking the victims’ pockets and vehicle.

However, stolen from the accidents victims were: an iPhone 15, valued at N1,300,000 and an iPhone 12 worth N620,000

Meanwhile, the RRS operatives who were patrolling the area, when alerted about the actions of the fleeing suspects pursued them and recovered the two iPhone from their pockets.

The operatives assisted the victims to the hospital and also removed the vehicle from obstruction.

The suspects have made significant confessions. They are to be charged to court today in line with the directives of Commander, Rapid Response Squad (RRS), CSP Shola Jejeloye.

President Bola Ahmed Tinubu has officially approved the acquisition of shares of Mobil Producing Nigeria Unlimited (MPNU) by Seplat Energy.

Seplat Energy disclosed this in a statement, on Wednesday.

In the statement, Seplat said it would work with all parties to bring the transaction to completion.

The oil company thanked President Tinubu for granting and acquisition and his support.

According to the statement, Tinubu‘s approval was communicated by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

It read, “Seplat Energy Plc, is delighted to announce that the Nigerian Upstream Petroleum Regulatory Commission (“NUPRC”) has confirmed that consent has been granted by the Honourable Minister of Petroleum Resources in Nigeria, President Bola Ahmed Tinubu GCFR, to proceed with the acquisition of the entire issued share capital of Mobil Producing Nigeria Unlimited (“MPNU”) (“the Transaction”).

“Seplat Energy sincerely thanks His Excellency, President Bola Ahmed Tinubu GCFR, for granting this approval, and appreciates the support and diligence of the various Ministries and regulators for all the work on this Transaction.

“The Company will now work with all parties to bring the Transaction to completion,” it stated.

Seplat explained that further information concerning to takeover of Mobil would be made public in line with regulatory requirements after completing the transaction process.

“Further announcements will be made as and when appropriate, in line with regulatory requirements,” it added.

The Federal Capital Territory (FCT) Minister, Nyesom Wike, has dismissed former Vice President Atiku Abubakar’s chances of securing the Peoples Democratic Party (PDP) ticket for the 2027 general elections, asserting it is unlikely to happen.

During a live media session on Wednesday evening in Abuja, Wike noted that Atiku has repeatedly shared his vision with Nigerians, who, in turn, have consistently rejected him.

Naija News reports that Atiku, who ran as the PDP’s presidential candidate in the 2023 elections, recently claimed that if he had won, his leadership approach would differ from President Bola Tinubu’s, and Nigerians would not be experiencing the current level of hardship.

Wike remarked, “Didn’t he (Atiku) present his blueprint to Nigerians? And did they choose him? Now he’s seeking another chance, but that opportunity won’t come. In which party? How can we rely on the same person for so many years?”

Referring to the American political landscape, Wike added, “Look at America—many opposed Trump, citing his controversial views, yet Americans made their decision based on what they believed was best for their country.”

He concluded, “In 2023, Nigerians listened to Atiku’s proposals and decided it wasn’t the right fit. Criticisms alone don’t signify that the opposition is truly resonating with the people.”

The Abuja Division of the Court of Appeal has disqualified Olusola Ebiseni as the Labour Party’s candidate for the Ondo State governorship election set for Saturday, November 16, 2024.

In a unanimous decision, the three-member panel, led by Justice Hamma Barka and delivered by Justice Adebukola Banjoko, ruled that “the appeal marked CA/ABJ/CV/1172/2024 brought by the Labour Party against Chief Olusola Ebiseni and two others is allowed.”

Justice Banjoko further announced that the Certified True Copy of the judgment would be provided to all parties in due course for review.

Justice Abba Mohammed, concurring with the lead judgment, supported the panel’s decision.

This ruling reverses an earlier Federal High Court decision in Abuja, which had directed the Independent National Electoral Commission (INEC) to recognize Ebiseni and Ezekiel Awude as the Labour Party’s governorship and deputy governorship candidates for the upcoming polls on November 16.

Previously, Justice Nwite of the Federal High Court had upheld the validity of a second Labour Party primary election, which produced Ebiseni and Awude as candidates, and ordered INEC to recognize and publish their names.

Justice Nwite’s judgment noted evidence of Ebiseni’s payment of N20 million for a nomination form and an additional N5 million paid to Festus Olorunfemi as compensation for his withdrawal from the race.

However, the appellate court’s recent decision has now invalidated the Federal High Court’s ruling, thereby disqualifying Ebiseni from the governorship race.

The new Edo State Governor, Monday Okpebholo, has shared some of the intriguing experiences that occurred during electioneering campaigns leading to his final emergence as a Governor.

Governor Okpebholo, who described the experience as a battle, said his victory can be attributed to God and the people of Edo State.

According to him, while opponents focused on television and social media, he trusted in God, who eventually gave him victory.

The Governor spoke at the post-swearing-in Thanksgiving Service held at the Samuel Ogbumudia Stadium in Benin.

Okpebholo, according to a statement by his Chief Press Secretary, Fred Itua, emphasized that he did not involve any native doctor or prophet or visit any diviner or shrine to seek help for help throughout the period of his electioneering, recounted how he met a dead bat on his bed on the Sunday after the election.

He said God fought the battle for him and urged the people of Edo State to always trust God.

He said, “I want to thank God. In this last election, while I was praising God, they (traducers) were busy operating from television. They were busy operating from social media. They were busy operating from other television stations.

“But, I took the battle to God because I knew the secret. A few days to the election, they said I was crazy. We gathered to praise God in this State. They said, “What is he doing?” They were there on TV. But, I was listening to the voice of God. I won the battle.

“After the election on Sunday morning, I came to my room. I met a bat had died on my bed, without me shooting any arrow. But, the spirit of God was there. The arrow of God; The hand of God delivered me.

“I am grateful to the men of God that stood in the gap. I am grateful to those who believed that with God, all things are possible. And I will give you one advice- trust in God alone because he will do it for you.”

Former member of the House of Representatives, Shina Peller, has urged Nigerian leaders to strive towards creating effective governance in the country.

Naija News reports that Peller made the plea while recounting an incident that saw the prompt arrival of medical and security personnel after a man collapsed in the UK.

He said the situation is unlike what happens in Nigeria, noting that it is heartbreaking to see citizens flee the country due to system failure.

The former lawmaker called on Nigerian leaders to create a system where citizens strive and not just survive.

Shina Peller urged Nigerians not to lose hope and demand good leadership from the government for a better future.

He wrote, “SYSTEM FAILURE VS SYSTEM SUCCESS.

“I witnessed an eye-opening incident in Guildford, UK. A man collapsed on the high street, and within 5 minutes, the emergency response was swift and seamless.

“2 ambulances, 5 police cars from different departments including traffic police, and the well-coordinated team worked together to:

“Rescue the patient
“Divert traffic for smooth flow
”Secure the area
“Restore normalcy in 10 minutes

“As a Nigerian, this is a stark contrast to what we’re used to. It’s heartbreaking to see citizens fleeing our beloved country for greener pastures due to system failures.

“To the UK Government, thank you for showing us what effective governance looks like.

“To my fellow Nigerians and leaders, let this be a wake-up call. A functional system is not rocket science. It requires:

“Strategic planning
“Adequate funding
“Effective implementation

“Let’s work together to build a Nigeria where:

“Emergency services respond promptly
”Infrastructure supports growth
”Citizens thrive, not just survive

“To my fellow citizens, don’t lose hope. We can make Nigeria great. Let’s demand more from our leaders and work towards a better future.

“And to INEC and the judiciary, always come correct. I hope this post inspires meaningful conversations and sparks positive change in Nigeria.”