Tag: tinubu

  • Senate screens Tinubu’s mominees for NUPRC, NMDPRA

    Senate screens Tinubu’s mominees for NUPRC, NMDPRA

    President Bola Ahmed Tinubu’s push to reform Nigeria’s oil and gas governance gathered momentum on Thursday as the Senate began the screening of nominees for the leadership of the country’s key petroleum regulatory agencies.

    The nominees, Oritsemeyiwa Amanorisewo Eyesan for the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Saidu Mohammed for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), appeared before the joint Senate Committee on Petroleum Resources (Upstream, Downstream and Gas) at the National Assembly.

    During the screening, the nominees pledged to implement far-reaching reforms aimed at blocking revenue leakages, restoring regulatory discipline and attracting new investments into the sector.

    They outlined reform agendas focused on digitisation, strict enforcement of contracts, credible data management, improved investor confidence and accelerated gas development, in line with the provisions of the Petroleum Industry Act (PIA).

    Their nominations followed the resignation of the pioneer chief executives of the two agencies, Gbenga Komolafe of the NUPRC and Farouk Ahmed of the NMDPRA, who were appointed in 2021 after the PIA came into force.

    Eyesan, nominated to lead the upstream regulator, told senators that Nigeria was losing significant value due to manual regulatory processes and weak system integration in an industry that is increasingly driven by technology. 

    She stressed the need for modern, digital systems to enhance transparency, efficiency and accountability across the upstream sector.

    “We are still largely manual, while the world is moving at jet speed. Without digitisation and real-time data, you cannot truly understand what you are regulating, and you will continue to lose money,” she said.

    She stressed that effective regulation depends on accurate data, asset integrity monitoring and transparent systems, adding that collaboration among regulators, operators and policymakers was key to resolving bottlenecks in the sector.

    “We must collaborate with stakeholders, identify our pain points and address them collectively. That is how we move the needle forward,” Eyesan said.

    She assured lawmakers that she would fully deploy the PIA as a regulatory tool to reposition the upstream sector, attract investments and ensure Nigeria remains competitive amid the global energy transition, describing the law as “a valuable document” if properly implemented.

    Eyesan, an Economics graduate of the University of Benin, spent nearly 33 years at the Nigerian National Petroleum Company Limited (NNPCL) and its subsidiaries, retiring as Executive Vice President, Upstream. She cited her role in resolving long-standing disputes with international partners, restoring investor confidence during divestment threats and facilitating multi-billion-dollar deep offshore investments.

    She also recalled signing Nigeria’s first non-associated gas development contract and contributing to the increase in crude oil production from about 1.3 million barrels per day to 1.8 million barrels per day during her tenure.

    “Having worked as an operator and participated in resource development, I believe I have the competence to regulate the industry and ensure we maximise the enormous opportunities before us,” she told the committee.

    On his part, Mohammed, the NMDPRA nominee, emphasised the need to restore discipline across the gas and petroleum supply chain through strict enforcement of contracts and quality standards.

    “Gas is not a favour; it is a commodity. It must be sold on the basis of enforceable contracts from the producer to the transporter and the end-user,” he said, blaming weak contractual frameworks for persistent gas shortages, particularly in the power sector.

    He noted that steady gas supply to some power plants was only possible where contracts were clear and obligations enforced, adding that strengthening regulatory oversight and enforcing the Gas Network Code would help stabilise the system and restore investor confidence.

    Mohammed also warned against neglecting domestic refining and processing capacity, cautioning that the sector could suffer the fate of Nigeria’s collapsed textile industry if local needs were ignored in favour of exports.

    The nominee pledged to revive pipeline transportation of petroleum products, attract billions of dollars in investments into gas processing infrastructure and strengthen quality assurance through in-house laboratory facilities.

    “You cannot enforce quality if you do not have the capacity to test and certify products yourself,” he said.

    Born in Gombe in 1957, Mohammed is a chemical engineering graduate of Ahmadu Bello University, Zaria, with decades of experience across the oil and gas value chain. He has served as Managing Director of the Nigerian Gas Company and Kaduna Refining and Petrochemical Company, as well as Group Executive Director and Chief Operating Officer, Gas and Power, at NNPC.

    He also played key roles in major projects including the Escravos–Lagos Pipeline Expansion and the Ajaokuta–Kaduna–Kano Gas Pipeline.

    Chairman of the Senate Committee on Petroleum Resources (Downstream), Senator Sumaila Kawu, said the screening was taking place at a critical time for the country, noting that boosting energy production and efficiency was central to economic recovery.

    He added that further engagements with the nominees would continue into January to strengthen legislative–regulatory collaboration.

    The Senate is expected to consider the committee’s report after the screening, paving the way for the confirmation of the nominees and signalling a new phase in the regulation of Nigeria’s oil and gas industry under the Tinubu administration.

  • Tinubu reconstitutes NERC board, charges members on power sector reforms

    Tinubu reconstitutes NERC board, charges members on power sector reforms

    President Bola Ahmed Tinubu has approved the reconstitution of the Board of the Nigerian Electricity Regulatory Commission (NERC), following the confirmation of its members by the Senate on December 16.

    The reconstituted board is headed by Dr Mulisiu Olalekan Oseni as Chairman, with Dr Yusuf Ali appointed as Vice Chairman. 

    Other members are Mr Nathan Rogers Shatti, Mr Dafe Akpeneye, Aisha Mahmud Kanti Bello, Dr Chidi Ike, and Dr Fouad Animashaun.

    According to a statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday, Dr Oseni, who joined the commission as a commissioner in January 2017 and later served as Vice Chairman, assumed office as Chairman with effect from December 1, 2025. 

    His tenure will run until the completion of his 10-year term at the commission, in line with the provisions of the Electricity Act, 2023.

    Dr Ali, who was first appointed as a commissioner in February 2022, takes over as Vice Chairman on December 1, 2025, and will serve in that capacity until the completion of his first term.

    Mr Shatti and Mr Akpeneye are both serving second terms on the commission, having been first appointed as commissioners in January 2017, while Aisha Bello is also serving a second term following her initial appointment in December 2020.

    Dr Ike, first appointed as a commissioner in February 2022, is serving his first term, while Dr Animashaun joins the commission for the first time, with his appointment taking effect from December 2025.

    Dr Animashaun is an energy economist with extensive experience in the Nigerian power sector and most recently served as Executive Commissioner and Chief Executive Officer of the Lagos State Electricity Regulatory Commission.

    President Tinubu charged the reconstituted NERC board to deepen and consolidate the ongoing transformation of Nigeria’s power sector, urging members to discharge their responsibilities in strict adherence to the letter and spirit of the Electricity Act, 2023.

    The President reaffirmed his administration’s commitment to strengthening regulatory institutions as part of broader efforts to improve electricity supply, enhance investor confidence, and drive sustainable growth in the power sector.

  • Transfer your support to Tinubu, Fubara tells loyalists

    Transfer your support to Tinubu, Fubara tells loyalists

    Rivers State Governor, Siminalayi Fubara, has directed his loyalists to channel their support towards the re-election of President Bola Ahmed Tinubu.

    The governor made the call on Thursday while inaugurating the Ogbakiri Junction–Waterfront Road in Emohua Local Government Area of the state.

    Fubara disclosed that he recently held a strategic meeting with the National Working Committee (NWC) of the All Progressives Congress (APC), during which he was urged to mobilise his supporters in Rivers State in support of President Tinubu.

    Describing Tinubu’s re-election as a major task ahead, the governor said he assured the APC leadership not to be concerned, noting that his camp had the “right foot soldiers” to deliver the needed support in the state.

    He added that the mobilisation process had already commenced, stressing that the turnout of residents who came out to receive him showed that the assignment was already about 70 per cent achieved in the local government area.

    The governor commended Chief David Omereji, a prominent son and leader of Ogbakiri, for his steadfast support, expressing confidence that his followers would work closely with Omereji’s political structure to accomplish the task ahead.

    Fubara also appealed to residents to sustain peace in their communities to allow development to spread across the state, urging them to safeguard government investments in their areas.

    Addressing the crowd, he said, “The task ahead is simple. It might be big, but it is simple because we have started it already. By the grace of God, yesterday I paid a visit to the National Working Committee of our great party, and after the meeting, they gave me a message that I am giving to all of you. It is a simple message. 

    “We know that you are very hardworking and you have organic support, so transfer this support to the success of our leader, Senator Ahmed Bola Tinubu. I told them in the meeting that they shouldn’t worry, but what is important is that we have the right foot soldiers.

    “Today I am happy to say that what I am seeing here with the support of the LGA, from the local government chairman, the chiefs, and everyone here, our job is 70% done. 

    “We need peace not just in Ogbakiri or Emohua, but we need peace in Rivers State so that development can be spread to all parts. People should learn to protect what is around them. You have a University here, protect it. 

    “You have other things of interest by the state government, and some federal assets protect them because in the end the benefit comes to you. I am appealing to everyone of you that we need peace and need to protect everything that is around us. That is the only way I can come here and make promises, and with your support, we will continue to deliver.”

    Describing the inaugurated project as significant, the governor recalled that it was initiated at the most trying period of his administration.

    He said, “I can’t forget the circumstances that we were facing at that time. We were commissioning the East-West road to Terma junction, and that particular stretch, the Ogbakiri road, was an annex to it; Terma-Abalama-Abonnema, and the other stretch that leads to Buguma. So, it won’t be nice that we commission this stretch and abandon the other part leading to Ogbakiri.

    “At that time, with the situation that we were in, we made a promise not just to the people of Kalabari, but also to the people of Emohua and Ogbakiri in particular that we would visit those two aspects of the roads. I am happy today that we are here to commission the one that connects to the Ogbakiri people 

    “When we made the first payment for this project, it was when we had the first Court judgment barring us from accessing our federal allocation. But I made a promise when I came here that no matter the situation, God will provide a way for us to finance this project. So when I say the project is significant to us, I know why I say so.”

    The governor said the completed project was evidence of service delivery and assured the people that his government would continue to keep its promises.

    He said he would consider the request of the council of chiefs on the issue of internal roads and constructing a bridge to connect the other side to ease transportation inconvenience and improve the commercial activities of the people.

    He said, “The beauty of this whole thing is that the community gave a very strong support to the contractor and has also chosen the path of peace, the reason you are seeing this level of development. This is a community that was known over the years for crisis and loss of lives, but I am happy that your story is now different.”

  • Kogi APC Renaissance Forum backs Tinubu’s anti-corruption drive

    Kogi APC Renaissance Forum backs Tinubu’s anti-corruption drive

    A leading political group in Kogi State, the Kogi APC Renaissance Forum, has expressed support for President Bola Ahmed Tinubu’s fight against corruption and corrupt practices in Nigeria.

    The forum, in a statement by its spokesperson, Adejo Emmanuel, said the current anti-corruption campaign under the Tinubu administration is not targeted solely at opposition figures, noting that members of the ruling All Progressives Congress (APC) are also being prosecuted.

    He cited the case of former Kogi State Governor, Yahaya Adoza Bello, who is currently facing prosecution by the Economic and Financial Crimes Commission (EFCC) over allegations of diversion and misappropriation of state funds, among other cases involving party members.

    Emmanuel described corruption as a major governance challenge with far-reaching implications for democracy, electoral integrity, social cohesion, and economic growth, noting that it has consistently undermined Nigeria’s development despite previous anti-corruption efforts.

    He said the entrenched nature of corruption in Nigeria, particularly among politically exposed persons, requires a more drastic and robust approach.

    According to him, President Tinubu has demonstrated a strong commitment to tackling corruption by clearly separating partisan politics from governance and ensuring that offenders are held accountable through diligent prosecution.

    He added that appropriate punishment remains essential in addressing corruption and deterring future abuses.

    “The fight against corruption in Nigeria requires a paradigm shift and bolder actions to effectively address its deep-rooted and multifaceted nature,” Emmanuel said.

    The forum urged Nigerians to support President Tinubu’s renewed anti-corruption drive, warning that individuals who engage in corrupt practices should desist or face the full weight of the law.

  • Tinubu: Prophetic in vision, delivering with foresight

    Tinubu: Prophetic in vision, delivering with foresight

    • By Bamidele Atoyebi

    Looking with hindsight at the rate of delivery on campaign promises, what rightfully agitates the mind would be, is President Bola Ahmed Tinubu a prophet? The question may sound rhetorical, even dramatic, but it keeps imposing itself on public discourse as events continue to align with the projections he boldly made while presenting the 2025 budget in 2024 with empirical accuracy.

    At the time, many Nigerians dismissed his projections as mere political optimism, but now they know better. He called the 2025 budget “An Ambitious but Necessary Budget to Secure Our Future” and projected that inflation, which appeared untamable and stood at about 34.6 per cent, would drop significantly to around 15 per cent. Today, inflation has reportedly declined further to about 14.5 per cent and is still racing towards single digits. That was not a coincidence; it was a policy meeting purpose, the result of one who prepared for power and just linking the dots with pinpoint accuracy.

    He also spoke with confidence about the exchange rate. When the naira was hovering around ₦1,700 to the dollar, with many predicting it would hit the ₦ 2,000 mark, President Tinubu projected a drop to about ₦1,500. As of today, the naira is trading around ₦1,452 to the dollar, and with the reforms, there is no gainsaying that the Naira will further firm up. Again, what many saw as wishful thinking has become measurable progress with adroit policy implementation.

    This is why the President’s oft-quoted assurance (Elofokanbale) “go and be rest assured, go and be at peace” resonates differently today. Tinubu did not just say he would fix the battered economy; he is fixing it, step by step, policy by policy. Leadership is not about noise; it is about results.  The results are beginning to speak loudly in different sectors where hopes had been lost.

    Even the NNPCL has stepped up under this administration. For the first time in over 36 years, the Nigerian National Petroleum Company (NNPC) Limited has broken long-standing barriers, recording historic highs in its upstream crude oil production and posting unprecedented financial returns with never-before-seen transparency. This turnaround has been driven by stronger accountability, improved operational efficiency, and a clear reform direction championed by the Tinubu government.

    Read Also: 2027: CAGrAM unveils plan to mobilise 10 million votes for Tinubu’s 2027 re-election

    President Tinubu has always spoken with the confidence of a man who understands both power and process. He once said he does not join certain caucuses because he knows them to be sneaky and untrustworthy, but that he would defeat them in every election. History records that he did exactly that, defeating Atiku Abubakar, Peter Obi, and Rabiu Kwankwaso despite their combined efforts. “We will vote, we will win” was not just a slogan; it became a political reality that has become an immutable benchmark.

    Every major statement Tinubu has made in public has either become a trending topic, a political reality, or an economic direction. His words shape conversations; his policies shape outcomes. That is why some Nigerians, half-joking but half-serious, now ask: Does Tinubu, like Nostradamus, see the future?

    From the standpoint of the BAT Ideological Group, this is not prophecy; it is preparation. It is the product of experience, courage, clear vision, and an ideological belief in reform-driven governance. Tinubu understands that tough decisions today are the price for stability tomorrow. This is why we say Tinubu is not a politician; he’s an institution, he doesn’t just make a statement like others do without having a plan and methodology on how he would achieve his aims and objectives.

    As we look ahead to 2026, optimism is no longer blind faith; it is grounded in the evidence and reality of what has so far been achieved. The foundations are being laid, the numbers are tallying, and confidence is gradually building. President Bola Ahmed Tinubu deserves his accolades, not because he speaks boldly, but because the country is beginning to move in the direction he promised.

    History will decide the final verdict, but for now, one thing is clear: when leadership is guided by ideology and competence, vision can begin to look like foresight.

    When I was asked at one event I attended in Kwara what to expect from President Tinubu after 2027, I told them to expect anti-terrorist battalions, improved salaries and welfare for our security men, upgraded weapon systems, more loans for farmers, farmers’ cooperative, rural infrastructure development, access to finance, more Renewed Hope homes for low-income earners, among others. When the reporter asked how I knew these, I told him Bamidele understands by Renewed Hope manifestos and political impartation the same way “Daniel understood by books and time.”

    –  Bamidele Atoyebi is the Convener of BAT Ideological Group,  publisher at Mining and Unfiltered reporting, and National Coordinator for Accountability and Policy Monitoring

  • Ogbia people urge Tinubu to seek re-election in 2027, pledge total support

    Ogbia people urge Tinubu to seek re-election in 2027, pledge total support

    …commends inclusive leadership, urges President to run for second term in 2027

    …hails NDDC interventions, lists Ogbia’s historic sacrifices for Nigeria’s unity

    …seeks more federal attention, backs Tinubu’s Renewed Hope Agenda

    Ogbia Kingdom in Bayelsa and Rivers states on Wednesday formally called on President Bola Ahmed Tinubu to contest the 2027 presidential election, pledging the full political backing of the kingdom in appreciation of what they described as his inclusive leadership and tangible development interventions in the Niger Delta.

    The call was made at the State House, Abuja, during an official thank-you visit led by the paramount ruler of Ogbia Kingdom, Obanobhan III, King Dumaro Charles Dwaba.

    In a speech read on behalf of the delegation by one of the traditional rulers on the entourage, King Collins Daniel, Ogbia Kingdom pledged the unalloyed support of its people for the success of the President’s efforts at building a greater Nigeria, lauding him for his commitment to inclusive development.

    “In light of the above, we firmly believe that Mr. President has served us well. As such, we cannot help but reciprocate your kind gesture by inviting him to contest the next presidential election, backed by the full support of the Ogbia Kingdom. Mr. President, we are behind you.”, King Daniel said.

    The delegation said it had come to express appreciation for President Tinubu’s leadership style and the confidence he had reposed in sons and daughters of Ogbia through key national appointments, which it said had rekindled hope and reinforced faith in his administration.

    “We have come first and foremost to express our heartfelt appreciation for your inclusive leadership and the confidence you have reposed in our sons and daughters through their recent appointments and re-appointments into key national positions,” the delegation stated, describing the appointments as “a powerful affirmation of our people’s faith in your administration.”

    Read Also: Supreme Court verdicts not military decrees, says Lagos APC

    Those acknowledged include Justice Moore Abraham Aseima Adumein of the Supreme Court; Dr Samuel Ogbuku, Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC); Sir Tonye Okio, Federal Character Commission commissioner representing Bayelsa State; and Barrister Fernandez Marcus-Obiene, Special Assistant to the President on Justice Reform and ICT/Digital and Innovative Technology.

    The Ogbia leaders singled out the performance of the NDDC under Dr Ogbuku, noting that since his appointment on August 29, 2023, communities across Ogbia Kingdom and the wider Niger Delta had witnessed “unprecedented infrastructural and human capital development.”

    “Suffice it to say that virtually every community in Ogbia Kingdom and in the Niger Delta now enjoy solar lights at night, which has significantly illuminated the Niger Delta and boosted economic activities,” the delegation said, adding that the interventions had “to a large extent curbed insecurity in the Kingdom and the entire region.”

    They listed road construction, ecological projects, upgraded health facilities and youth empowerment programmes such as Project HOPE in technology, agriculture, arts and green energy as part of the NDDC’s achievements, describing President Tinubu’s choice of Dr Ogbuku as “not misplaced.”

    “Your appointment of Dr Samuel Ogbuku sends a clear message of your confidence in indigenous leadership and reinforces the trust of the Niger Delta people in your Renewed Hope Agenda,” the delegation said.

    The Ogbia people also commended ongoing federal projects in their area, including the Oloibiri Oil Museum and Research Centre, the rehabilitation of the Ogbia section of the Ogbia–Nembe–Brass Road, and the construction of the Otuogori–Otuegwe Bridge along the Ekole River.

    Recalling the kingdom’s historical contributions to Nigeria, the delegation described Ogbia as “the cradle of Nigeria’s oil industry,” noting that crude oil was first discovered in commercial quantity at Oloibiri in 1956, an event that “fundamentally transformed Nigeria’s economic destiny.”

    Beyond oil, they said Ogbia had made defining sacrifices for national unity, citing the 1959 pre-independence political alliance led by Chief Melford Okilo and the 2015 concession of defeat by former President Goodluck Jonathan.

    “Those critical moments clearly demonstrated that the people of Ogbia have consistently believed in, and sacrificed for, one indivisible Nigeria. Our contributions to the Nigerian project have been profound and enduring”,” the visitors said.

    On that basis, the kingdom said it deserved “greater attention, recognition and development support, not as a favour, but as a just acknowledgment of our place in Nigeria’s history,” and presented specific requests to the President, including the establishment of an Institute of Energy and Petroleum Studies in Ogbia, partnership on the Akaba–Emadike Road, and shoreline protection for coastal communities threatened by erosion.

    The delegation concluded by assuring President Tinubu of its “unalloyed loyalty and support,” inviting him to visit Ogbia Kingdom and praying for wisdom and strength as he leads the country.

    “May God Almighty continue to grant you wisdom, strength and good health as you steer the affairs of our great nation,” the delegation said.

  • 2024, 2025 budgets: Tinubu seeks nod to spend N43.56tr

    2024, 2025 budgets: Tinubu seeks nod to spend N43.56tr

    • Lawmakers okay presentation of 2026 Appropriation Bill tomorrow

    President Bola Ahmed Tinubu yesterday asked the National Assembly to consider and pass a new N43.56 trillion Appropriation (Repeal and Re-enactment) Bill for the 2024-2025 fiscal period.

    The move is aimed at ending the practice of running multiple budgets concurrently and strengthening accountability in public finance management.

    In a letter transmitted to both chambers of the legislature, the President explained that the proposed legislation would reset the federal budgeting framework by harmonising appropriations for the two fiscal years and consolidating emergency expenditures undertaken in the national interest.

    According to him, the harmonisation would also ensure the delivery of what he described as “unprecedentedly high” capital performance across the 2024 and 2025 budget cycles.

    The request comes on the eve of the President’s scheduled presentation of the 2026 Appropriation Bill to a joint session of the National Assembly.

    A breakdown of the harmonised 2024-2025 proposal underscores the administration’s focus on infrastructure development and growth-enhancing investments.

    The Bill seeks authorisation to draw N43.561 trillion from the Consolidated Revenue Fund of the Federation.

    READ ALSO: Turaki-led PDP begs Nigerians for another chance

    This comprises N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent non-debt expenditure, and N22.28 trillion for capital expenditure and development fund contributions.

    President Tinubu said the reworked budget framework would ensure an orderly and constitutionally grounded consolidation of critical, time-sensitive expenditures already undertaken in response to emergency exigencies, including those related to national security and citizens’ welfare.

    He noted that the approach balances responsiveness with fiscal discipline, while closing loopholes that have historically undermined effective budget implementation.

    The President also highlighted far-reaching safeguards embedded in the Bill to tighten spending controls.

    These include strict application of released funds to purposes specified in the budget schedules, limits on virement without prior approval of the National Assembly, and clearly defined conditions for corrigenda where genuine errors threaten implementation.

    In addition, the Bill mandates the separate recording of excess revenue and restricts its expenditure strictly to acts or approvals of the National Assembly.

    It also reinforces due-process compliance and requires periodic reporting on fund releases, agency revenues and external assistance.

    President Tinubu said the measures were designed to deepen transparency, enhance legislative oversight and restore confidence in the federal budget process.

    The Senate considered and passed the Bill for second reading after the President’s request was read by Senate President Godswill Akpabio.

    The Bill was subsequently referred to the Senate Committee on Appropriation for further legislative work, with a directive to report back to plenary as soon as practicable.

    Indications also emerged that the President would present the 2026 Appropriation Bill to a joint sitting of the National Assembly today.

    A formal communication from the Presidency is expected to be read during plenary.

    A separate notice to the National Assembly community, dated December 17, 2025, and signed by the Secretary, Human Resources and Staff Development, Essien Eyo Essien, on behalf of the Clerk to the National Assembly, Kamoru Ogunlana, confirmed that the President is expected to arrive at 2:00 p.m.

    The letter, copied to the Clerks of the Senate and House of Representatives, their deputies and heads of departments, outlined security and access arrangements for the day.

    It directed all accredited persons to be at their duty posts by 11:00 a.m., noting that access to the National Assembly complex would be restricted thereafter, while non-accredited persons were advised to stay away.

    Staff members, except the Clerk, Deputy Clerk, clerks of both chambers and their deputies, were also instructed to park their vehicles at designated areas at the Annexe or the new car park by the National Assembly Service (NASS) Gate.

    The annual budget presentation marks the formal transmission of the Federal Government’s fiscal proposals to the legislature for consideration and approval.

    Ahead of the presentation, the House of Representatives is expected to pass the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) today.

    The document was passed by the Senate on Tuesday following the consideration of a report by its Committees on Finance, presented by the committee chairman, Senator Mohammed Sani Musa.

    The 2026–2028 MTEF-FSP approved by the Senate projects a total federal budget size of N54.46 trillion for 2026, comprising retained revenue of N34.33 trillion and new borrowings of N17.88 trillion from domestic and external sources.

    Other projections include debt service of N15.52 trillion; pensions, gratuities and retirees’ benefits of N1.376 trillion; a fiscal deficit of N20.13 trillion; capital expenditure of N20.131 trillion; statutory transfers of N3.152 trillion; a sinking fund of N388.54 billion; and recurrent non-debt expenditure of N15.265 trillion.

    The Senate approved an oil benchmark of $60 per barrel for the 2026 budget, down from an earlier projection of $64.85 per barrel, while endorsing benchmarks of $65 and $70 per barrel for 2027 and 2028, respectively.

    The committee explained that the conservative adjustment for 2026 was necessitated by heightened geopolitical tensions in Europe and the Middle East, as well as persistent volatility in the global oil market.

    Crude oil production was projected at 1.84 million barrels per day (mbpd) for 2026, rising to 1.88mbpd in 2027 and 1.92mbpd in 2028.

    The exchange rate was anchored at N1,512 to the dollar for 2026, with projections of N1,432.15 and N1,383.18 for 2027 and 2028.

    Inflation was projected at 16.5 per cent in 2026, 13 per cent in 2027 and nine per cent in 2028, while real GDP growth was estimated at 4.68 per cent, 5.96 per cent and 7.9 per cent over the three years.

    Minister of Finance and Coordinating Minister for the Economy, Dr Olawale Edun, said the government’s focus under the MTEF was on strengthening revenue generation rather than increasing borrowing.

    “The emphasis is squarely on revenue generation,” Edun said.

    Minister of Budget and National Planning, Atiku Bagudu, said the MTEF-FSP was developed through extensive consultations with government agencies, the private sector, civil society and development partners.

    He urged revenue-generating agencies to improve performance.

  • Tinubu to Niger Delta leaders: expect accelerated development

    Tinubu to Niger Delta leaders: expect accelerated development

    President Bola Ahmed Tinubu yesterday told leaders and people of the Niger Delta to expect accelerated development.

    He urged them to look beyond the region’s years of neglect and work constructively with his administration to accelerate development.

    The President assured them that his administration was committed to delivering lasting progress and defeating terrorism and other security threats.

    The President spoke while hosting leaders of the Ogbia Kingdom in Bayelsa State at the State House, Abuja.

    He acknowledged the historical marginalisation of the oil-producing region but stressed that dwelling on the past would do little to change its fortunes.

    Instead, he said, the focus must now be on collaboration, determination and measurable progress.

    “We cannot excuse the neglect of the past, but living in the past will do us no good, except take it and run with it now, carefully,” Tinubu said.

    He assured the delegation that his administration would work closely with Niger Delta indigenes serving in government, particularly the Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, to deepen development efforts in the region.

    READ ALSO: Turaki-led PDP begs Nigerians for another chance

    Describing the Niger Delta as “the goose that lays the golden egg,” the President admitted that successive administrations had failed to adequately cater for the area, but said the opportunity now exists to correct those shortcomings.

    He praised Dr Ogbuku as “a transformative, committed and highly focused” public servant whose passion for national service has helped refocus attention on the development needs of the Niger Delta.

    “Your son, Dr Ogbuku, the MD of the NDDC, is a transformative, committed, highly focused MD. His commitment to duty and love for the nation are noticed by all, including myself,” Tinubu said.

    He assured the delegation that infrastructure projects across the region, including roads, street lighting and other community-level interventions, would be sustained.

    “You mentioned the street lights, the roads, and the infrastructure development. We will continue with that, and we won’t let you down,” he said, commending the people of the Niger Delta for their contributions to Nigeria’s development in both human and material resources, as well as their commitment to peace.

    The President said his administration is already witnessing tangible impacts of ongoing Niger Delta programmes, particularly in expanding economic activities through solar lighting and other initiatives that have extended business hours and improved livelihoods in previously underserved communities.

    “When we watch Niger Delta programmes, I see market women and traders enjoying solar light at night in places where, before, communities went to sleep by 6:30 or 7pm. That has changed,” he said, adding that such interventions align with his broader goal of ensuring that ordinary Nigerians feel the benefits of economic recovery.

    President Tinubu noted that the national economy, which he said was in a dire state when his administration took office, has now “turned the corner for good,” stressing that the priority is to translate macroeconomic improvements into real gains for people at the grassroots.

    Responding to specific requests from the Ogbia leaders, the President assured them that issues such as erosion control, bridge construction and other infrastructure critical to economic growth would be addressed.

    He also pledged support for educational and historical initiatives, including plans to immortalise Oloibiri as the site of Nigeria’s first oil discovery through the establishment of a dedicated institute.

    “We will look into the erosion and tame it. On the bridge, that is infrastructure that promotes economy and progress. We’ll see to that and other areas of collaboration,” he said, adding that he would continue to work closely with Dr Ogbuku and relevant legislators to advance the region’s development agenda.

    President Tinubu also paid tribute to former President Goodluck Jonathan, describing him as “a good leader and a good son of Nigeria,” and pledged to continue honouring his commitment to democratic values, justice and fairness.

    On national security, the President assured the delegation that his administration remains resolute in confronting terrorism, banditry and other forms of insecurity threatening parts of the country.

    He said security forces are making steady progress despite the challenges.

    “No matter how long, success is being achieved. We are prosecuting them, arresting them and neutralising some of them, and we will continue to do that.

    “Men and women of the armed forces are fighting very hard to bring peace and stability to the country, and I can guarantee you we will win over terrorism,” the President said.

    He reaffirmed his commitment to the concerns raised by the Ogbia leaders and expressed confidence that sustained cooperation would help unlock the Niger Delta’s full potential and strengthen national stability.

  • Group demands suspension of tax law

    Group demands suspension of tax law

    The National Opposition Movement has accused the Bola Ahmed Tinubu administration of prioritising political interests over the security, welfare and survival of ordinary citizens.

    It warned that the nation is drifting toward a dangerous precipice of ‘multidimensional failure’.

    Addressing a news conference in Abuja yesterday, its spokesperson, Chille Igbawua, said the group demanded an immediate suspension of the planned tax regime.

    The group, made up of several opposition party and association members, including African Democratic Congress (ADC) and Obidient Movement has also demanded a nationwide consultation involving labour unions, civil society groups, small and medium scale businesses, professionals and state governments.

    Read Also: JUST IN: Burkina Faso releases 11 detained Nigerian Air Force personnel

    It also demanded explicit social protection guarantees tied to any future tax reform, a decisive shift toward taxing luxury, excess profits, monopolies and corruption rather than poverty, and strong legal safeguards to protect taxpayer rights.

    According to Igbawua, who was with other members of the movement, the demands were anchored on the conviction that Nigeria’s crisis does not stem from low taxation but from waste, corruption, mismanagement and policy arrogance, stressing that government failure cannot be remedied by billing its victims.

    He warned that the movement would resist any policy that punishes the poor to excuse leadership failure and held the government responsible for the consequences should the tax plan proceed.

  • Tinubu to Niger Delta leaders: Dwelling on past neglect won’t help, progress must be our focus

    Tinubu to Niger Delta leaders: Dwelling on past neglect won’t help, progress must be our focus

    … Assures Niger Delta of accelerated development through NDDC, 

    … Backs Ogbia’s requests on infrastructure

    … Pledges decisive victory over terrorism, banditry as economy turns the corner

    President Bola Ahmed Tinubu on Wednesday charged leaders and people of the Niger Delta to look beyond the region’s years of neglect and work constructively with his administration to accelerate development, assuring them that his government is committed to delivering lasting progress and defeating terrorism and other security threats across the country.

    The President spoke while hosting leaders of the Ogbia Kingdom in Bayelsa State at the State House, Abuja, where he acknowledged the historical marginalisation of the oil-producing region but stressed that dwelling on the past would do little to change its fortunes. 

    Instead, he said, the focus must now be on collaboration, determination and measurable progress.

    “We cannot excuse the neglect of the past, but living in the past will do us no good, except take it and run with it now, carefully,” Tinubu said, assuring the delegation that his administration would work closely with Niger Delta indigenes serving in government, particularly the Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, to deepen development efforts in the region.

    Describing the Niger Delta as “the goose that lays the golden egg,” the President admitted that successive administrations had failed to adequately cater for the area, but said the opportunity now exists to correct those shortcomings. 

    He praised Dr Ogbuku as “a transformative, committed and highly focused” public servant whose passion for national service has helped refocus attention on the development needs of the Niger Delta.

    “Your son, Dr Ogbuku, the MD of the NDDC, is a transformative, committed, highly focused MD. His commitment to duty and love for the nation are noticed by all, including myself,” Tinubu said.

    He assured the delegation that infrastructure projects across the region, including roads, street lighting and other community-level interventions, would be sustained. 

    Read Also: FG dismisses 38 senior officers from NSCDC for various infractions

    “You mentioned the street lights, the roads, the infrastructure development. We will continue with that, and we won’t let you down,” he said, commending the people of the Niger Delta for their contributions to Nigeria’s development in both human and material resources, as well as their commitment to peace.

    The President said his administration is already witnessing tangible impacts of ongoing Niger Delta programmes, particularly in expanding economic activities through solar lighting and other initiatives that have extended business hours and improved livelihoods in previously underserved communities.

    “When we watch Niger Delta programmes, I see market women and traders enjoying solar light at night in places where before, communities went to sleep by 6:30 or 7pm. That has changed,” he said, adding that such interventions align with his broader goal of ensuring that ordinary Nigerians feel the benefits of economic recovery.

    Tinubu noted that the national economy, which he said was in a dire state when his administration took office, has now “turned the corner for good,” stressing that the priority is to translate macroeconomic improvements into real gains for people at the grassroots.

    Responding to specific requests from the Ogbia leaders, the President assured them that issues such as erosion control, bridge construction and other infrastructure critical to economic growth would be addressed. 

    He also pledged support for educational and historical initiatives, including plans to immortalise Oloibiri as the site of Nigeria’s first oil discovery through the establishment of a dedicated institute.

    “We will look into the erosion and tame it. On the bridge, that is infrastructure that promotes economy and progress. We’ll see to that and other areas of collaboration,” he said, adding that he would continue to work closely with Dr Ogbuku and relevant legislators to advance the region’s development agenda.

    Tinubu also paid tribute to former President Goodluck Jonathan, describing him as “a good leader and a good son of Nigeria,” and pledged to continue honouring his commitment to democratic values, justice and fairness.

    On national security, the President assured the delegation that his administration remains resolute in confronting terrorism, banditry and other forms of insecurity threatening parts of the country. 

    He said security forces are making steady progress despite the challenges.

    “No matter how long, success is being achieved. We are prosecuting them, arresting them and neutralising some of them, and we will continue to do that. Men and women of the armed forces are fighting very hard to bring peace and stability to the country, and I can guarantee you we will win over terrorism”, Tinubu said.

    He concluded by reaffirming his commitment to the concerns raised by the Ogbia leaders and expressed confidence that sustained cooperation would help unlock the Niger Delta’s full potential and strengthen national stability.