Business & Economy
Senate Passes 2026 Budget of N58.472 Trillion to Second Reading *clarifies discrepancy in Tinubu’s budget speech *Passes N43 trillion 2024, 2025 Appropriation Act (repeal and re-enactment) Bills 2025 *Adjourns till January 27
By Our Correspondent
The Senate on Wednesday at plenary passed to second reading 2026 Appropriation Bill of N58.472 trillion, after the lawmakers debated the general principles of the proposed money bill.
The passage followed the consideration of the fiscal proposals presented on the floor of the Chamber during plenary session by the Senate Leader, Senator Opeyemi Bamidele.
This was however, as the Senate explained that, while President Bola Tinubu’s budget speech to the joint session of the National Assembly on Friday last week read N58.18 trillion, the actual figure in the budget document laid before the lawmakers by the President after his speech, contained the some of N58.472 trillion.
The Chairman, Senate Committee on Appropriations, Senator Solomon Adeola, confirmed the figures while fielding question from journalists at the end of the plenary on Tuesday evening.
His words: “I can confirm to you that the Bill Mr President submitted to us during his budget presentation contained N58.47 trillion. And as the chairman of the Appropriations committee, that is the figure I will be working with. Let’s me clarify that the Bill, is a document and it’s more important than a budget speech.”
Recall that President Tinubu’s budget speech, both in text and audio, stated N58.18 as the total proposed budget sum for the fiscal year 2026, triggering obvious controversy in the public space.
However, the clarification by the Chairman of the Senate Committee on Appropriations would have laid the controversy to rest.
Presenting the document for debate, Opeyemi Bamidele said: “Mr President, Distinguished colleagues, this is a Bill for an Act to authorise the issue from Consolidated Revenue Fund of the Federation the total sum of N58, 472, 628, 944, 759 of which N4, 097, 381, 103, 856 is for statutory transfers.”
“The 2026 Appropriation Bill presents an opportunity for this Senate to reinforce fiscal discipline, promote accountability, and ensure that public resources deliver tangible outcomes. Distinguished Colleagues, the President did not shy away from the lessons of 2025 budget performance. Revenue shortfalls, expenditure pressures, and transitional execution challenges were openly acknowledged. However, the Executive has committed to stronger fiscal discipline in 2026, with clear directives to key fiscal authorities to ensure strict adherence to appropriations, timelines, and performance benchmarks. Of particular note is the firm stance on Government-Owned Enterprises, with an emphasis on digitised revenue mobilisation, zero tolerance for leakages, and performance-based accountability.
“Mr. President, the philosophy of the 2026 Budget is anchored on four pillars: consolidating macroeconomic stability; improving the business and investment environment; promoting job-rich growth and poverty reduction; and strengthening human capital while protecting the vulnerable. In essence, this Budget proposes that we spend with purpose, manage debt with discipline, and pursue growth that is broad-based and sustainable.
“The fiscal framework presented to us reflects this balance. With expected revenues of ₦34.33 trillion and total expenditure of ₦58.18 trillion, including ₦15.52 trillion for debt servicing, the projected deficit of 4.28% of GDP remains within the medium-term fiscal parameters approved by this Senate. Capital expenditure of over ₦26 trillion signals a strong development orientation, even as recurrent spending is restrained.
“Distinguished Colleagues, the sectoral priorities of this Budget speak directly to Nigeria’s pressing needs. Security receives primacy, rightly so, because without peace and safety, no economy can thrive. The President’s articulation of a restructured national security architecture and a firm stance against terrorism, banditry, kidnapping, and violent criminality underscores the seriousness of this commitment.
All the Senators that spoke during the debate commended President Tinubu for presenting what they described as a “budget that will take Nigeria to the next level.”
Contributing, Adamu Aliero who commended the huge allocation to security in the budget proposal, said that there could be no national growth without security.
Senator Ahmad Lawan, urged the executive arm to ensure that politics did not jeopardise the implementation of the budget considering the political activities that would dominate 2026.
Lawan canvased a bigger allocation to the newly established Ministry of Livestock Development, saying the sector was critical to the country’s development.
Senator Adams Oshiomhole noted the proposed allocations to key sectors like security, education and healthcare, urging however, that government should ensure that Nigerians get value for the money.
Senator Sani Musa, who chairs the Senate Committee on Finance, observed that the 2026 proposal was high on infrastructure, which he said, will go a long way in bridging the nation’s gaping infrastructure gap.
Senator Diket Plank observed that the budget prioritised macro economic stability, growth and infrastructure development. “There is high hope that the 2026 fiscal year will be more productive to Nigerians,” Plant said.
On his part, Senator Abbas Aminu urged the executive branch to ensure that the budget works for the people and implemented for the good of Nigerians.
Akwa Ibom senator, Asuquo Ekpenyong called for priority in the implementation of the infrastructure, education, healthcare and social services components of the budget.
Senator Osita Izunaso, while commending the President, pleaded the executive branch should do well to end multiple budget implementation that characterised the previous two budgets.
Senator Emmanuel Udende praised the document while Senator Saliu Mustapha said the facts and figures thein speak for themselves.
Senator Jide Ipinshaga described the proposal as “a robust document,” saying it captured all critical areas. He however called for proper implementation.
Minority Leader, Abba Moro said the document “looks beautiful,” predicting that it will project a gateway to a prosperous Nigeria.
In a related development, the Senate also on Tuesday, passed the sum of N43 trillion 2024 and 2025 Appropriations Act (repeal and re-enactment) Bills 2025.
The resolution of the Senate followed its consideration and approval of the recommendations of the report of its Committee on Appropriations.
After the passage of the bills, the apex legislative Assembly adjourned plenary for the year 2025, to resume on January 27, 2026.
End.
Business & Economy
Niger Delta group commends FG on Immigration Law compliance
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.
Business & Economy
*HallowMace Foundation and Partners Unveil Final Three Nominees Per Geo-Political Zone for 2026 National Legislative Award, Announces Final Voting Stage*
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
Business & Economy
PPP Business Model Responsible for Success of NLNG -Fubara *Pledges Continued support for Corporate Organizations operating in Rivers State
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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