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2026 Budget :Senate Approves N68,323 Trillion *Added Tinubu’s N9tri. request to N58.5tri initial proposal *raises Oil benchmark to $75 per barrel

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By George Mgbeleke

The Senate at a special plenary on Tuesday, approved President Bola Tinubu’s request to increase the 2026 budget from the initial proposal of N58.472 trillion to ₦68,323,309,818,667 trillion.

The Red Chamber also passed for third and final reading the 2026 Appropriation Bill, which seeks legislative authorization for total expenditure of ₦68.323 trillion for the 2026 fiscal year.

President Tinubu had presented the initial ₦58.472 trillion budget to a joint session of the National Assembly on December 19, 2025.

The budget focused on consolidating macroeconomic stability, improving the business environment, promoting job-rich growth, and reducing poverty, with defence and security (₦5.41 trillion), infrastructure (₦3.56 trillion), education (₦3.52 trillion), and health (₦2.48 trillion) receiving priority votes.

However, President Tinubu, on Wednesday, sent a request to the Senate seeking an increase to the tune of N9 trillion, a request that was immediately considered and approved by the lawmakers.

Presenting the report of the National Assembly Joint Committee on the 2026 Appropriation Bill during plenary, the Chairman, Senate Committee on Appropriations, Senator Solomon Adeola, told the Chamber that while the Committee was working on the N58.472 trillion earlier proposed in December, 2025, President Tinubu sent communication to the Committee, proposing adjustments to the budget.

“During the consideration of the Bill by the Joint Committee on Appropriations, a communication was received from Mr. President proposing adjustments to the 2026 Budget. The proposed adjustments were intended to regularise outstanding legacy capital commitments carried over from previous appropriation cycles, thereby ensuring that the 2026 fiscal programme is not unduly burdened by unresolved obligations from earlier years.

The proposals also sought to accommodate a limited number of strategic interventions in the areas of transport, health, and institutional preparedness considered critical to national development and governance continuity, while aligning the financing framework of the 2026 Budget with the revised expenditure profile in a manner that preserves macro-fiscal stability,” he said.

He noted that the adjustment included ₦5.71 trillion in outstanding unfunded capital obligations from the 2025 budget, saying that this was necessary because these obligations were unlikely to be implemented before the 2025 budget expired.

According to him, the outstanding obligations arose from the 2025 Appropriation (Repeal and Enactment) Act, noting that the sum of ₦2 trillion was added for priority projects nationwide that were omitted in the rollover to the 2026 budget.

Also, the strategic national interventions include a Federal Government equity contribution of ₦478.60 billion for the Presidential Legacy Light Rail Projects, which are in Lagos, Kano, Kaduna, and Ogun States.

The interventions also include ₦8.96 billion for feasibility studies for the Calabar-Maiduguri Corridor and the Maiduguri-Sokoto Superhighway. These projects are under the Tinubu National Beltway Initiative.

An additional US$344.83 million, equivalent to approximately ₦482.76 billion, was proposed for priority health sector interventions. These interventions are tied to existing bilateral understandings and implementation commitments.

The Committee also pointed out that a further provision of ₦98.50 billion was proposed for the Court of Appeal. This is in support of the institutional architecture for the 2027 General Election cycle.

The Supreme Court is also proposed to receive ₦36.7 billion. This is also in support of the 2027 General Election cycle.

The Judiciary’s budget ceiling is proposed to be reinstated with ₦268.54 billion. This is to accommodate the prospective appointment of more Justices of the Court of Appeal and Judges.

The total adjustments amount to ₦9.091 trillion, which the funding sources include an increase in the oil benchmark by $10/b, generating ₦2.592 trillion.

According to the Chairman of the Committee, the recent tariff adjustment measures in the telecommunications industry have stimulated renewed investor confidence. Capital inflows and investment commitments exceeding $2 billion have been recorded.

He observed that the telecommunications sector is transitioning from a position of constrained tax yield and underinvestment to one characterised by renewed growth. The projected revenue contribution from MTN Nigeria and Airtel Nigeria is ₦874 billion.

“MTN Nigeria is expected to contribute ₦724 billion in Corporate Income Tax (CIT) in 2026. Airtel Nigeria is expected to contribute ₦150 billion in CIT in 2026. The external borrowings are proposed to increase by ₦6.163 trillion. This will support the funding of the adjustments,” he said.

The adjustments are aimed at consolidating macroeconomic stability and promoting job-rich growth. The 2026 budget prioritizes security, infrastructure, education, and health.

After considering the report of the Joint Committee, the Senate approved the adjustments, expressing optimism that the adjustments would stimulate economic growth and improve living standards of citizens.

Business & Economy

Niger Delta group commends FG on Immigration Law compliance

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By David Owei,Bayelsa

A Niger Delta Think Tank, the Movement of Intellectuals for National Development (MIND), has commended the Federal Government over its directive on strict compliance with the Nigerian Immigration Law.

MIND, in a letter to the Minister of Interior, signed by its Western Coordinator, Ebi Warekromo, stated that the Ministry’s firm statement condemning the abuse of Nigeria’s immigration framework by certain expatriate workers and their employers operating within the country was a welcome development.

According to him, the Ministry’s ‘’clear and decisive position sends a strong signal that the Federal Government remains committed to upholding the rule of law, protecting the integrity of Nigeria’s immigration system, and safeguarding employment opportunities that should rightfully be available to qualified Nigerians.’’

Warekromo, while recalling a recent petition by the group that was submitted to the National Assembly, vowed that it would continue to work with all relevant agencies of the government to expose abuse of Nigeria’s Immigration Law.

The statement read in part: ‘’Our organization had recently submitted a petition to the Senate President of the Federal Republic of Nigeria, highlighting disturbing patterns of non-compliance with immigration and expatriate quota regulations by some multinational corporations operating in Nigeria. The petition specifically drew attention to issues relating to the operations of TotalEnergies Nigeria, including allegations of expatriate personnel occupying positions that are ordinarily meant for Nigerians, the misuse of expatriate quota approvals, and practices that undermine the objectives of Nigeria’s labour and local content policies.

It is therefore highly reassuring to note the Ministry’s strong condemnation of such practices and its commitment to ensuring strict compliance with Nigeria’s immigration laws. We believe this position is both timely and necessary to protect national interests, strengthen institutional accountability, and ensure that expatriate participation in Nigeria’s economy genuinely contributes to skills transfer and national development.

In light of this, the Movement of Intellectuals for National Development expresses its readiness to work constructively with the Ministry of Interior and its relevant agencies in identifying and addressing cases of immigration law violations. We believe that collaboration between regulatory institutions and responsible civil society organizations will significantly enhance efforts aimed at curbing these detrimental practices.

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Business & Economy

*HallowMace Foundation and Partners Unveil Final Three Nominees Per Geo-Political Zone for 2026 National Legislative Award, Announces Final Voting Stage*

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ABUJA, April 16, 2026, The HallowMace Foundation and Partners have officially released the final list of the last three outstanding nominees per Nigeria’s six geo-political zones for the upcoming National Legislative Award, scheduled to take place in July 2026.

After a rigorous selection process incorporating input from Nigerian citizens and the National Assembly Press Corps, the Foundation and Partners finalized the roster of distinguished Senators and House of Representatives members who have demonstrated exceptional legislative performance.

The nominees are grouped by geo-political zone as follows:

*SOUTH EAST*

*Senate*
Sen. Enyinnaya Abariba
Sen. Victor Umeh
Sen. Osita Izunaso

*House of Reps*
Hon. Benjamin Kalu
Hon. Dominic Okafor
Hon. Chike Okafor

*SOUTH SOUTH*

*Senate*
Sen. Seriake Dickson
Sen. Adams Oshiomole
Sen. Asuquo Ekpenyong

*House of Reps*
Hon. Frederick Agbedi
Hon. Francis Waive
Hon. Inombek Awaji-Abiante

*SOUTH WEST*

*Senate*
Sen. Opeyemi Bamidele
Sen. Solomon Olamilekan
Sen. Abdulfattah Buhari

*House of Reps*
Hon. Akin Rotimi
Hon. Babajimi Benson
Hon. Oluwole Oke

*NORTH CENTRAL*

*Senate*
Sen. Sani Musa
Sen. Natasha Akpoti-Uduanghan
Sen. Aliyu Wadada

*House of Reps*
Hon. Terseer Ugbor
Hon. Saidu Musa Abdullahi
Hon. Jonathan G. Gaza

*NORTH EAST*

*Senate*
Sen. Abdul Ninji
Sen. Muhammed Monguno
Sen. Muhammed Danjuma Goje

*House of Reps*
Hon. Laori K. Bitrus
Hon. Ahmadu Usman Jaha
Hon. Bello Usman Kumo

*NORTH WEST*

*Senate*
Sen. Hussaini Babangida Uba
Sen. Sunday Katung
Sen. Aminu Waziri Tambuwal

*House of Reps*
Hon. Hassan Fulata
Hon. Abdussamad Dasuki
Hon. Sada Soli

According to the Organisers, these nominees represent the *“last three”* standing per zone following extensive voting by Nigerian public and legislative correspondents. They have been recognized for their outstanding contributions to lawmaking, oversight, and constituency representation.

*Voting For The Next Stage Now Open*
The HallowMace Foundation and Partners hereby announce that voting for the final selection stage has commenced effective today, April 16, 2026. In this crucial phase, members of the public are invited to vote to select one Senator and one House of Representatives member per geo-political zone from the list of final nominees.

Email: thenationallegislativeawards@gmail.com

This stage of voting shall close on the last day of April 2026 (April 30, 2026) . Winners will be determined by a combination of public votes and final validation by the National Assembly Press Corps.

The National Legislative Award ceremony is set to hold in July 2026, where the final winners will be unveiled and celebrated for their dedication to the Nigerian project.

*About HallowMace Foundation*
The HallowMace Foundation is a non-partisan organization committed to promoting legislative excellence and accountability across Nigeria.

*Signed:*

Amb. Oguh Hyginus John
*Head, Public Communications Desk*
The National Legislative Awards Planning Committee

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Business & Economy

PPP Business Model Responsible for Success of NLNG -Fubara *Pledges Continued support for Corporate Organizations operating in Rivers State

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Rivers state governor Siminalayi Fubara(right) New CEO of the NLNG, Mr Adeleye Falade(left)

By George Mgbeleke

Governor of Rivers State, His Excellency, Sir Siminalayi Fubara has attributed the success of the Nigeria Liquified Natural Gas ( NLNG) Limited to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies from the inception of the organisation.

Governor Fubara stated this while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade who paid him a courtesy visit at Government House, Port Harcourt.
The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.This partnership model allows for shared risks, costs, and expertise in the LNG sector.


L to R: Miss Homa Nmegbu, Govt. Relations Advisor; Abdul Saleh, Technical Adviser to Exexutive Management; Dr Yemi Adeyemi, Manager Community Relations; Abdul Umar, Manager, Government Relations; Engr Adeleye Falade, MD/CEO, Governor of Rivers State, His Excellency, Siminalayi Fubara; Dr Sophia Horsfall, GM, External Relations & Sustainable Development; Mike Igoni, Head, Govt Relations; Ifeanyi Umeh, Head Community Engagement & Liaison, Kate Allison, Senior Govt Relations Advisor and Emma Nwatu, Senior Media Advisor, in a group photograph during the courtesy visit on Wednesday.

In a statement by his Chief Press Secretary,Onwuka Nzeshi, governor Fubara observed that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence. According to him, the decision of the Federal Government to allow the multinational oil companies who have the needed expertise to run the establishment while government plays a supervisory role over it, has largely been responsible for its success.

” I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with the laws; ensure that standards are maintained and also ensure that the right people with the needed expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.

Governor Fubara pledged the continued support of his administration for the NLNG, stressing that the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government of Nigeria. He gave assurance that his administration will continue to contribute it’s own quota in support of the NLNG.

“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.
“So the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think we need to come in to support you, please do not hesitate to call upon us.
“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can assure you that. I will also ensure that other units of the government will liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.

In his opening remark, the new CEO of the NLNG, Mr Adeleye Falade who led other top officials of the company on the visit, expressed appreciation for the audience granted them and appealed to the Government of Rivers State to continue to support the organisation.

” We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.
The company, Falade said, has continued to work with its host communities to strengthen their capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact. According to him
communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model. He said that beyond community infrastructure, the NLNG have sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and Micro Small and Medium Enterprise (MSME) schemes. These, he said, were designed to support small businesses, build capacity, and stimulate local enterprise across the state.
Among officials of the company who accompanied the Managing Director where General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations; Dr Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh. Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu, Senior Government Relations Advisor, Mrs Kate Allison and Audio -Visual Advisor, Mr Dawood Ahmed.

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