Business & Economy
2026 budget: Growth must create jobs, increase pay, create opportunities—Speaker Abbas …says NASS’ll consider appropriation bill with urgency, diligence, patriotism
By Our Correspondent
The Speaker of the Representatives Rt. Hon. Abbas Tajudeen has stated that Nigeria’s economic growth must translate to job creation, higher income, and more opportunities for the citizens.
Recall that President Bola Ahmed Tinubu on Friday presented a budget estimate of N58.18 trillion to a joint session of the Senate and House of Representatives for the year 2026.
Abbas also emphasized fiscal discipline, stating that it must engender fairness, efficiency, and visible impact.
He also called for credible targets and realistic assumptions in the 2026 fiscal year while calling for thorough implementation of the year’s budget.
The Speaker stated this in his closing remarks and vote of thanks as President Bola Ahmed Tinubu.presented the 2026 Appropriation Bill to the joint session of the National Assembly on Friday.
Speaker Abbas said, “The challenge before us now is not whether reform is working, but how decisively its benefits can be consolidated and broadened. If 2025 was a year of adjustment and learning, 2026 must be a year of fulfilment.
“Growth must increasingly translate into jobs, higher incomes, and expanded opportunity. Fiscal discipline must continue to deliver fairness, efficiency, and visible impact. Above all, the 2026 budget must be grounded in credible targets, realistic assumptions, and disciplined implementation. This is why there is strong optimism across this chamber that 2026 will be different, not only in intent but in outcomes.”
He added, “The National Assembly receives the 2026 Appropriation Bill with confidence that the lessons of 2025 have been fully internalised and that this budget is designed to translate reform into tangible progress for Nigerians.”
The Speaker noted that one of the most reassuring signals of reform maturity in President Tinubu’s approach to the 2026 budget is his clear directive that Nigeria must operate with one budget and one fiscal framework, along with the President’s clear determination to deepen fiscal realism and restore order to the budgeting process.
“Your insistence that there should be no parallel budgets, no multiple spending windows, and no fragmented fiscal authorities speaks to discipline, clarity, and respect for due process. It restores order to public finance and ensures that every Naira appropriated by this Parliament aligns with national priorities,” Speaker Abbas said.
The Speaker stated that “the National Assembly welcomes this stance” and reinforces the confidence that the 2026 budget is “not merely expansive, but orderly; not merely ambitious, but disciplined.”
He stressed that the approach reassures the National Assembly that the 2026 budget “is not only ambitious but also achievable, not only expansive but also grounded, and designed for precise implementation rather than approximation.”
Speaker Abbas also noted that the Tinubu administration’s declaration of emergency on security reflects clarity of purpose and decisiveness of leadership.
He said the declaration is backed by concrete commitments, including expanded recruitment into the security services, enhanced training capacity, improved welfare, redeployment to priority theatres, strengthened forest and territorial security, and improved intelligence coordination.
He declared, “Security is not only a constitutional responsibility; it is the essential foundation of development. Security underpins food production, price stability, investment confidence, and social cohesion.
The Speaker further noted that the 2026 budget “reflects this prioritisation, and rightly so.” He added that when properly funded, well coordinated, and transparently implemented, “security expenditure is not just a cost; it is an investment in economic growth and development.”
He said, “For this reason, security deserves prominent and sustained attention in the 2026 budget and beyond. The National Assembly is firmly committed to ensuring that resources allocated to security translate into measurable, lasting improvements in safety across the federation.”
Speaker Abbas posited that the 2026 fiscal year is also significant for the implementation of new tax laws. “These reforms represent a major step in state-building. They broaden the tax base, enhance equity, simplify compliance, reduce leakages, and strengthen non-oil revenues,” he said.
With these reforms, Speaker Abbas said the 2026 budget is anchored in sustainable revenue rather than deferred obligations. He added that the budget finances progress responsibly.
“A fair and efficient tax system underpins security funding, sustains social services, and guarantees the timely delivery of constituency projects,” he stressed.
The Speaker told President Tinubu: “On behalf of the National Assembly, I offer this assurance: We will consider the 2026 Appropriation Bill with urgency, diligence, and patriotism. We will support reform that strengthens the national interest, scrutinise spending to ensure accountability, and insist that every naira budgeted by Mr. President delivers value to the Nigerian people.”
Speaker Abbas also said, “To Nigerians watching, the message of this budget is clear. Stability has been restored. Confidence has been rebuilt. Fiscal order has been strengthened. The foundations for shared prosperity are firmly in place.”
End
Business & Economy
Senate fixes March 17 for passage of N58.472trillion 2026 budget
By Our Correspondent
The Senate has tentatively fixed Tuesday, March 17, 2026 , for final consideration and passage of N48.472trillion 2026 budget .
Senate Committee on Appropriations made this declaration at a special session held on Friday, fixing February 2nd to 13th for consideration of the budget estimates at the committee level .
For all inclusive process, the committee , fixed Monday , February 9, 2026 for public hearing on the budget proposal where according to its Chairman, Senator Solomon Olamilekan Adeola ( Ogun West), an erudite Professor of Economics from University of Lagos , Wasiu Adeoye , will make power points presentation .
As proposed by Senator Adeola and adopted by the committee, Thursday, March 5, 2026, has been fixed for an interactive session between members of the committee and economic managers of the Federal Government like the Minister of Finance and Coordinating Minister of the Economy, Wale Edun , Minister of Budget and National Planning , Senator Atiku Bagudu etc .
This is as he added that 16th to 23rd February 2026, are fixed for submission of reports on budget defence by the various committee chairmen for presentation of reports by the committee to the Senate on 17th of March .
He informed members of the committee that the Senate wanted the budget passed on the 12th of March , 2026, before he convinced the leadership for an additional one week .
He added that for meticulous scrutiny and consideration of the budget estimates , hard copies of the 2026 budget have been printed for chairmen and members of the various standing committee’s they
The committee, accordingly as moved by Senator Adamu Aliero ( Kebbi Central) and seconded by Senator Orji Uzor Kalu ( Abia North), adopted the time table .
Business & Economy
Otuaro Attributes Huge Deployment Of PAP Scholarship Beneficiaries To President Tinubu’s Strong Backing
By David Owei,Bayelsa
The Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro, has attributed his large-scale onshore and offshore deployment of scholarship beneficiaries to the robust backing of President Bola Tinubu.
He spoke during the pre-departure orientation for another set of 25 foreign post-graduate scholarship beneficiaries deployed by the PAP to universities across the United Kingdom for the 2025-2026 academic session, at the agency’s head office in Abuja on Thursday.
The event featured talks on “Social and Cultural Relations in the UK”, “Academic Expectations”, “The Administration of the Scholarship”, and the presentation of laptop to each of the scholarship beneficiaries to enhance their research and thesis writing.
The scholars will pursue programmes in artificial intelligence, quantity surveying and commercial management, cyber security, business analytics, advanced structural engineering, data science, finance and financial tech, international law and security, public health, among others.
Otuaro stated that President Tinubu’s gracious approval of budgetary increase for the PAP has made it possible for more scholarship beneficiaries to be accommodated for undergraduate and post-graduate studies.
According to him, President Tinubu’s unwavering commitment has strengthened the PAP as a pathway to not only changing the Niger Delta narrative, but building the requisite manpower for the social, economic and political advancement of the area and indeed the country.
Otuaro, who was represented by his Technical Assistant, Edgar Biu, also noted that the tireless supervision of the PAP by the National Security Adviser, Mallam Nuhu Ribadu, had also contributed immensely to the tangibles and milestones recorded by the agency.
Addressing the scholars, he said: “We are extremely grateful to His Excellency, President Bola Ahmed Tinubu, GCFR, for his wholesome and strong commitment to this Programme, not only in terms of policy direction but also funding.
“Every one in the Niger Delta is happy with the President for this. It is no longer news, because all of you (scholars) also know that this Programme used to run on a low budget annually, but the President graciously approved an increase.
“This is why we are able to deploy more and more scholarship beneficiaries. So, we have every good reason as the people of the Niger Delta to applaud the President for backing this Programme strongly.
“We also appreciate immensely the National Security Adviser, Mallam Nuhu Ribadu, whose supervision this office falls directly under. He has worked tirelessly with us to make sure that this Programme achieves the tangibles and milestones under the President’s Renewed Hope Agenda.
“We are able to send all of you and thousands of others to universities within and outside Nigeria because of the budgetary increase. Therefore we are building the necessary human capital for the social, economic and political development of our region and indeed the country. We are, indeed, grateful to the President.”
The PAP Administrator reiterated his advice that scholarship beneficiaries should strive hard for academic excellence and avoid distractions, while also obeying the laws of their host country and the regulations of their institutions.
Otuaro added,”So I urge you to be focused as you embark on this academic journey (to the United Kingdom), a journey that promises so much. This programme is not the end of where the Niger Delta should be, but it is a pathway to changing the narrative.
“Be driven by your modest background, the sacrifices that have gone into providing this great opportunity for you, and the huge investment in your education, to achieve academic excellence.
“Make good use of this opportunity to shine and the sky will be the limit for every one of you. When you complete your programme, return home to contribute your quota to the development of the Niger Delta and our country.”
Business & Economy
Tinubu approves $3.8bn investment in carbon market to boost sustainable infrastructure
By Abdul-Ganiyy Akanbi
In a bid to make climate action a core part of his Renewed Hope Agenda and Nigeria as an active player in the global climate economy, President Bola Tinubu has approved over $3.8 billion worth of investment in the carbon market.
Specifically, the President has endorsed the Carbon Market Framework for Nigeria with a view to unlocking billions of dollars in green investments.
The Carbon Market Framework operates under the National Council on Climate Change, NCCC, an agency established by the Climate Change Act of 2021 and domiciled in the Presidency with the President as Chairman of the Council, while the Vice President serves as the Vice Chairman.
The approval, according to the Director General of the National Council on Climate Change, NCCC, Mrs. Omotenioye Majekodunmi, has proven that Nigeria is now fully open for climate business.
Majekodunmi, who spoke with journalists in the United Arab Emirates on the sidelines of the Abu Dhabi Sustainability Week, noted that the carbon market presents opportunities across several sectors, including renewable energy, clean cooking, reforestation, climate-smart agriculture and sustainable infrastructure.
She added that the approval provides a clear regulatory and institutional structure for carbon trading in Nigeria, enabling both local and international investors to develop and finance climate-friendly projects while earning carbon credits.
“With the final approvals in place, Nigeria is officially ready to do business. We are now positioned to begin seeing real returns. The carbon market alone is valued at over $3.8 billion in potential investments annually,” she hinted.
The director general also revealed that Nigeria has already shown strong interest in carbon-related projects, stressing that since initial approvals were granted in October, the Council has received between 3,000 and 4,000 applications.
Majekodunmi also pointed out that Nigeria’s participation at the Abu Dhabi Sustainability Week is part of efforts to deepen international partnerships, particularly with the United Arab Emirates.
She said: “We see a lot of potential for collaboration in renewable energy, sustainable finance, climate technology, and carbon markets. And as such, the Abu Dhabi Sustainability Week provides the right platform to be able to deepen this relationship and this partnership to get real impact.”
The director general added that technology transfer, innovation and local capacity development remain key priorities, with plans to strengthen Nigeria’s capabilities in clean energy systems, agriculture and climate-resilient infrastructure.
Earlier in his remarks, the Minister of Environment, Malam Balarabe Abbas Lawal, stated that Nigeria’s active participation at the Abu Dhabi Sustainability Week underscores the Federal Government’s commitment to deepening international partnerships—particularly with the United Arab Emirates—across renewable energy, sustainable finance, climate technology, and carbon markets.
He further emphasized Nigeria’s focus on technology transfer, innovation, and local capacity development to strengthen clean energy systems, climate-smart agriculture, and resilient infrastructure nationwide.
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