Tag: Federal Government

2026 Budget: FG to borrow again, as Senate flags ₦25.27tr deficit

Aminu Imam
FG to borrow again2

Nigeria will continue to borrow to plug its widening budget deficit, the 10th Senate has confirmed, amid mounting concerns that rising debt and weak revenue mobilisation could push the country toward fiscal distress. At a public hearing on the 2026 Appropriation Bill in Abuja, Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola, disclosed that the proposed 2026 Budget projects total expenditure of ₦58.47 trillion against expected revenue of ₦33.19 trillion, leaving a deficit of ₦25.27 trillion. Debt servicing alone is estimated at ₦15.90 trillion. Adeola said borrowing had…

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MURIC wants FG to explain US military presence in Nigeria

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MURIC urges Tinubu

The Muslim Rights Concern (MURIC) has asked the Federal Government to clarify reports of United States troops operating in Nigeria, raising concerns over national sovereignty and the safety of Muslim leaders. The group said it was disturbed by what it described as the secrecy surrounding the reported deployment and urged the authorities to be transparent about the scope and purpose of any foreign military presence in the country. In a statement released yesterday, the Executive Director of MURIC, Prof. Ishaq Akintola, said the organisation was uncomfortable with what it perceived…

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‘FG commiting genocide in Niger Delta’ – PANDEF 

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PANDEF on N'Delta

The Niger-Delta apex socio-cultural organisation, (PANDEF), has accused the Federal Government of systematically committing genocide in the region. .Its spokesman, Chief Ominimini Obiuwevbi raised the concern in a media chat with members of the Nigeria Union of Journalists (NUJ), Ughelli Correspondents Chapel, Delta State, stating that decades of oil pollution and Government failure to remediate its effect leading to untold hardship, diseases, and death. Obiuwevbi said, ineptitude by the Federal Government, its continued denial, neglect, and inadequate compensation to improve the lives of the Niger Delta people from the effect…

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FG to share electricity subsidy costs with states

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FG on electricity subsidy

The Federal Government has moved to end the practice of carrying electricity subsidy costs alone, announcing a framework that will spread the burden across federal, state, and local governments from 2026. Director-General of the Budget Office of the Federation, Tanimu Yakubu, disclosed this on Monday in Abuja, during a training and sensitisation workshop for ministries, departments, and agencies on the 2026 post-budget preparation process using the ‘Government Integrated Financial Management Information System Budget Preparation Sub-System’. Yakubu said President Bola Tinubu had directed that electricity subsidy costs be made explicit, tracked,…

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FG raises ₦501bn to clear power debts

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FG to clear power debts

…Signals reset of electricity market The Federal Government has raised ₦501 billion in a fully-subscribed inaugural power sector bond, marking President Bola Tinubu’s most decisive move yet to resolve decade-long payment arrears that have crippled electricity generation and investment. Issued under the Presidential Power-Sector Debt Reduction Programme (PPSDRP), the Series-1 bond combines ₦300 billion raised from the capital market, with ₦201 billion allotted to power generation companies (GenCos). The proceeds will fund about half of verified debts owed for electricity supplied between February 2015 and March 2025, officials said at…

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FAAC shares ₦1.969tr December revenue to FG, States, LGs

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FAAC allocation

The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.969 trillion as Federation Account revenue for December 2025 among the Federal Government, state governments and local government councils. The allocation was disclosed in a statement issued by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, following the January 2026 FAAC meeting held in Abuja. According to the statement, the total distributable revenue comprised ₦1.084 trillion in statutory revenue, ₦846.507 billion from Value Added Tax (VAT), and ₦38.110 billion…

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“I won’t file my taxes until Tinubu does” — Lawyer dares FG

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Lawyer dares FG

A human rights lawyer, John Chinedu, has vowed not to file his tax returns by March 31, 2026, unless President Bola Ahmed Tinubu publicly does the same. In a Facebook post yesterday, Chinedu said leaders must first show transparency before demanding compliance from citizens. He wrote: “The era where followers pay taxes while leaders loot public funds is over. If the President wants Nigerians to comply with tax laws, he should lead by example and show proof of his own tax returns”. He accused political leaders of misusing public funds…

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Banditry: FG to deploy military retirees to secure ungoverned areas

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FG to deploy

The Federal Government has announced plans to deploy military retirees to help secure Nigeria’s ungoverned spaces, as part of broader efforts to strengthen national security and stimulate economic activities in conflict-affected areas. The initiative follows the inauguration of an 18-member committee by the Minister of Defence, Gen. Christopher Musa (rtd), charged with reclaiming ungoverned spaces for economic viability and repositioning the ‘Nigerian Legion Corps of Commissionaires and Veterans’. The committee was inaugurated on Tuesday at the Ministry of Defence headquarters in Abuja.  A statement issued yesterday by the Ministry’s Deputy…

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FG takes giant leap in defence manufacturing with Turkish deal

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FG on Turkish deal

A Turkish company operating within Nigeria’s expanding defence industrial ecosystem, DICON-D7G, is facilitating access to Turkish companies that meet strict international quality and compliance standards in the supply of defence and aerospace materials, components and spare parts. The chief executive of DICON-D7G, Osman Chennar,  in an issued statement yesterday in Kaduna, said that the firms were globally recognised for their expertise in military hardware production, precision Engineering and advanced defence technologies. According to him, DICON-D7G drew on industry experts, including retired military Generals and professionals from other Nigerian security agencies,…

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‘FG bans mining within 10km radius of bridges nationwide’ – Umahi

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FG bans mining

The Federal Government has banned all forms of mining activities within a 10-kilometre radius of bridges across the country. Minister of Works, Senator David Umahi, announced the directive during a press briefing in Enugu at the weekend, following an inspection of ongoing projects in the South-East zone. He said the ban would curb the destruction of roads and bridges and enhance public safety According to Umahi, the directive, which aligns with decisions of the Federal Executive Council (FEC), is aimed at strengthening the structural integrity of bridges nationwide. He added…

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