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Saraki addresses African Politicians “Let’s Deliver Good Governance to Next Generation”

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8 years ago

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Senate President, Dr Abubakar Bukola Saraki has urged the political class in Nigeria, Ghana and indeed Africa to strive  to deliver good governance that will benefit the next generation.
Speaking on the theme: “The Future of Good Governance in Africa” at a symposium to mark 25 years of the Ghana’s Parliament Senator Saraki stated that it was the fact that African youths have been frustrated by its governments that they are risking everything to cross the Sahara Desert or the Mediterranean Sea  in search of a better life.
He said there was a need to reverse this trend by making the continent a place of opportunity for the youths.
Senator Saraki also applauded the long-standing friendship and special relationship between Nigeria and Ghana, and noted that the onus is now on the present crop of leaders of both countries at all levels to enthrone democratic principles and ensure steady development so that the tradition does not wane.
He also poured encomiums of Speaker, Parliament of Ghana, Rt Hon. Mike Ocquaye for his years in the democratic struggle which was a testimony that people must never relent and remain unflinching in the pursuit of a virile democracy across Africa.

Dr Saraki asserted that African leaders can best deliver on good governance if they first ensure that the people are sufficiently educated to make the right choices.

“If we are to deliver good governance to the next generation of Africans and if the democratic dividend is to come to fruition, education is key,” Saraki said. “We must invest in primary, secondary and tertiary education – up to the 26 per cent of the national budget as recommended by the United Nations.”

He added that “It must be mandatory for every child to go to school; we should ensure that there are incentives for those that send their children to school, and penalties for those that do not.”

The President of the Senate stated that tha it is unacceptable that Africa’s trade with Europe far outstrips that between African nations.

According to him, British foreign investment in Africa totalled $54.1 billion in 2014 and  China had an estimated 2,650 projects ongoing on the continent in 2015 while, Africa’s share of the global trade stands at 3 per cent and inter-Africa trade is 11 per cent.

“Let us ask ourselves: what about Africa? Not a moment can be spared in our efforts as Africans to cover our flanks in trade,” Saraki said. “We must devise an economic model that produces and manufactures primarily for the African market, and then use that as a basis upon which to engage with the wider world.”

He said he believes strongly that Africans’ talent for innovation and enterprise makes them the continent’s most valuable resources and that it is the duty of its leaders to give the people  opportunities to translate these into going concerns. “This will create wealth and enable us to compete globally,” he said.

Besides, he called on African leaders to add value to the abundant natural resources replete in the continent in order to make the raw material the mainstay of its economies.

Saraki said: “We are the richest continent in resources and yet we are the poorest, because we have allowed ourselves to be pigeonholed as the supplier of raw materials to the world.

“The leaders of our two countries are clear in their stance on the raw materials pivot of our economies. President Muhammadu Buhari has said that, ‘Our vision is for a Nigeria in which we grow what we eat.’

“And President Akufo-Addo is unequivocal: ‘We must add value to [our] resources, we must industrialise and we must enhance agricultural productivity.’ The two leaders have identified this flaw in our economies, and we in parliament must support them with appropriate legislation in order to realise their vision,” he said.

He said that African leaders must remain vigilant and alive to their responsibilities to sustain its democracy, adding, “Let me use this opportunity to re-echo my long-held belief that democracy is not a destination, it is a journey. We cannot therefore take it for granted.

“Unless we are eternally vigilant and alive to our duties to provide our people with effective and responsible governance which guarantees that we listen to them at all times and ensure that their needs are met we run the risk of derailing our hard-end democracy in the region.”

He noted that the Economic Community of West African States (ECOWAS) has a key role to play to make the African continent succeed.

“If the African continent is to be a success story – or even the AU for that matter, ECOWAS must play a key role. And for ECOWAS to lead the charge, Ghana and Nigeria must step up to the plate, and fulfil their leadership role on the continent. So, my colleagues, let us take the first step on that journey today, and do so together,” Saraki said.

THE FULL SPEECH
1. It is wonderful to be here in solidarity with lawmakers of the Parliament of Ghana for the symposium commemorating 25 years of parliamentary democracy. I bring warm greetings from the people of Nigeria. We congratulate you on this milestone. Much as the independence of Ghana served as a pointer to us that Nigeria’s own liberation was not far behind, we celebrate this silver jubilee with you in the knowledge that ours is round the corner. 
2. I thank the House for the honour done to me, the Nigerian National Assembly and my country, to give this address on ‘The Future of Good Governance in Africa’. My profound gratitude to the Rt. Hon. Prof. Aaron Michael Oquaye, Speaker of Parliament, for his gracious invitation. When we met at the 137th Assembly of the Inter-Parliamentary Union (IPU) in Russia last year, you said that you would invite me here as a way of cementing the legislative relationship between our two countries, and you kept your word. I commend you.
3. Mr. Speaker, I must also, specially congratulate you because your personal story and involvement in democratic struggle and the outcome of so many years of sacrifice, represents the unique character that makes democracy the best form of government. Who would have imagined that you would, today, be here as the custodian of Ghana’s democracy? yours is a shining example why we must never relent and remain unflinching in our pursuit of a virile democracy across Africa. I congratulate you.
4. I have reflected over the longstanding relationship between our countries; and the budding foundation and collective vision of our leaders past and present. It is 59 years since Dr. Kwame Nkrumah’s historic visit to Nigeria – in 1959 – in those heady days after the first All African People’s Conference, which Dr. Nnamdi Azikiwe hailed as the beginning of a Federation of Independent West African States. Noting that Ghana and Nigeria’s struggles were identical in many respects, Dr. Azikiwe had declared that, “The very diversity of our peoples, and customs and languages, means that we have much to contribute to each other.” He looked forward to our two countries becoming“models of honest and democratic government” capable of giving hope to all of Africa.
5. Typically, when we hear of a ‘special relationship’ between nations, it is with regard to Britain and America; and as the Reagan and Thatcher era showed forth, these are relationships that outlive governments. Ours, too, is a special relationship, which should outlive us and be a reference point of special relationship in Africa. The onus and leadership rests on us. What we do now, lays the basis for the continent’s future. 
6. Here then is the imperative of unity between our two nations and in the region. With unity and democracy as standard, we can lay the groundwork for good governance and development. We are thus presented with the opportunity to work for democracy, using the instrumentality of parliament.
7. Honourable colleagues, it is hardly a coincidence that every country in ECOWAS is governed by a democratically elected government. Nigeria, Ghana, Liberia and The Gambia have seen peaceful transfers of power from incumbents to the opposition. We have crossed the Rubiconin West Africa; and I have no doubt that ECOWAS hashelped catalyse the thinking, that democracy is the way forward for Africa. 
8. The legislature, by reason of its composition, represents the interest of the people; and serves as counter-balance to executive power. Parliament is therefore the best representation of the diversity of the nation, and the fulcrum for harmonising initiatives that express the will of the people, while providing clarity on how best to implement those initiatives.
9. If Africa is to be fully integrated into the global economy, itsconstituent nations must be governed by the rule of law, and we have to commit to making the required adjustment now. The strength of democracy starts with the strength of parliament. It is our responsibility to instil in the body politic the time-honoured principles of participation, transparency and accountability, and to fight corruption,always making the space for stakeholder participation. This is the modern model of governance.
10. Honourable colleagues, you will agree with me that parliaments are a stabilising force in democracy, especially with regard to our oversight responsibility. We must be courageous; even when some of our initiatives fly in the face of special interest, ours is to do what is right for our people. To do this, we must defend democracy. We have seen for ourselves the beauty of democracy in its infancy. That should give us the inspiration to steer it to a level where it can compete favourably with older democracies in the developed world.
11. Let me use this opportunity to re-echo my long-held belief that democracy is not a destination, it is a journey. We cannot therefore take it for granted. Unless we are eternally vigilant and alive to our duties to provide our people with effective and responsible governance which guarantees that we listen to them at all times and ensure that their needs are met we run the risk of derailing our hard-end democracy in the region. The recent events in Zimbabwe make this eloquently clear that bad governance is the Achilles heel of democracy. To ensure democracy is well and strong in the sub region, the legislature which is the most critical institution of democracy has a very vital role to play. If we play our role properly, we can expect to be back here celebrating 50-100years of uninterrupted democratic governance, nothing can be taken for granted in democracy and events across the world point to this fact.
12. As a community of democratic West African states, ECOWAS makes it that much easier to build consensus; and the organisation can serve this purpose very effectively onsecurity and the economy. As many regional challenges indicate, our people suffer when the needed policies are not in place. We simply have to put the right policies in place in ECOWAS. In Nigeria, Boko Haram insurgency and Herdsmen-and-Farmers conflicts come with regional dimensions. These are further aggravated by porous borders that advertise the weakness in trans-national security, while facilitating irregular migration and human trafficking. There is a need to strengthen our security apparatus so that together, we can fight terrorism. It is a threat to government, education and economic development. 
13. We have much to build upon, my honourable colleagues. Trading relations between Nigeria and Ghana have begun to peak. Collaboration between the Nigerian film industry – Nollywood – and Ghanaian actors, directors and producers, remind us that age-old competition in football and even music – for who can forget the glory days of E.T. Mensah and his co-travellers in Highlife? – all of that, can be channelled in truly great and creative directions.
14. The Pan-African vision of Joseph Casely-Hayford’s National Congress of British West Africa was only one great beginning in regional cooperation. We may recall some institutions that thrived during the pre-independence era. The West African Airways Corporation, West African Frontier Force, West African Currency Board and many others. The West African Examination Council (WAEC) has stayed relevant down the years. It is my belief, therefore, that we can achieve the unity and cooperation needed to build even more effective institutions, and strengthen them for the challenges of today. 
15. We are the richest continent in resources and yet we are the poorest, because we have allowed ourselves to be pigeonholed as the supplier of raw materials to the world. The leaders of our two countries are clear in their stance on the raw materials pivot of our economies. President Muhammadu Buhari has said that, “Our vision is for a Nigeria in which we grow what we eat.” And President Akufo-Addo is unequivocal: “We must add value to [our] resources, we must industrialise and we must enhance agricultural productivity.” 
16. The two leaders have identified this flaw in our economies, and we in parliament must support them with appropriate legislation in order to realise their vision. African parliaments have to come together to cross-pollinate ideas about how to move the continent forward. There is an urgent need to fast-track development so that our people can feel the impact of responsive government. But what is the place of law in the development trajectory of Africa? It is by guaranteeing freedoms, rights and opportunities. 
17. The rule of law and accountability are the hallmarks of democratic legislature. We must, therefore, begin to look at the implications of laws passed across the continent. Integration is about frameworks, and this is largely legislative in nature. There is a relationship between the laws we make and the development our people can see. Wecannot shirk the responsibility of creating a more integrated African development paradigm. 
18. Honourable colleagues, let me use this opportunity to call for collaboration in ECOWAS. The economic community already has the framework; it is left for us to make it work for regional integration, and even use it to actualise the African Union (AU) agenda. ECOWAS has the capacity to drive the economic prosperity of Africa; and in order to have a diversified economy, long term issues cannot be driven by policy but by legislation, which we are responsible for. We must rise to the challenge, so that we can get our people out of poverty. And whatever is to be done in ECOWAS, our two countries should be at the driving seat. 
19. Let us stir up that spirit of regional integration and cooperation that moved this great continent once. It is in this vein that I propose the creation of a legislative platform comprising the leadership of our two legislatures, one where cross-national dialogue can flourish, and recommendations made to aid integration and development. 
20. Africa’s population of 1.3 billion will double by 2050, and youths will account for more than half of that increase. We already have the largest concentration of young people in the world, according to the United Nations. Half of Uganda’s population is under the age of 15; almost 80 percent are under 30. Here in Ghana, 57 percent are under the age of 25, according to the Center for International Private Enterprise (CIPE); 18-35 year olds constitute about 65 percent of the population. As for Nigeria, we are set to become the third most populous country on earth by 2050, surpassing the United States; no fewer than 68 percent of us are in the 18–35 age bracket. 
21. And yet, the demographic dividend that is expected to accelerate the growth of Africa is undercut by the apparent capitulation of frustrated youth. We are witnessing the phenomenon of young Africans trekking through the Sahara Desert and on to the Mediterranean Sea into horrors including slavery and death. Of irregular migrants in limbo in Libya, Ghanaians number 59,870, while 44,608 of them are Nigerians. Our youths do not see a future for themselves on the continent and are willing to go elsewhere or die trying. We must reverse this unfortunate trend; and we can only do so by making our continent a place of opportunity. 
22. Honourable colleagues, it is unacceptable that Africa’s trade with Europe far outstrips that between African nations.British foreign investment in Africa totalled $54.1 billion in 2014. China had an estimated 2,650 projects ongoing on our continent in 2015. Meanwhile, Africa’s share of the global trade stands at 3 per cent, inter-Africa trade is 11 per cent – this is unsustainable. The attention of British investors is expected to shift from Africa to Europe, post-Brexit. In the United States, the clamour is all about America First. Let us ask ourselves: what about Africa? Not a moment can be spared in our efforts as Africans to cover our flanks in trade. We must devise an economic model that produces and manufactures primarily for the African market, and then use that as a basis upon which to engage with the wider world. Africa’s engagement with the wider world will be stronger where the world perceives that the legislature is actively involved and on the same page with the Executive.
23. Travel within Africa is another area of concern. If we do not make the necessary investments in transportation, and remove encumbrances that make it easier for Africans to travel across Europe than within Africa itself, we would not be able to take full advantage of the opportunities that abound on our continent. 
24. Happily, the expected launch of the Continental Free Trade Area by the AU, later this month, should open up the continent to greater integration, particularly in trade between African countries. The Lagos–Tangiers Highway Project; the Trans Sahara Pipeline and new Railway projects to connect East African countries, are all encouraging developments. We are in Ghana, and so I cannot fail to commend the vision behind the proposed Ghana Railway Project that would link you to yournorthern neighbours in Cote d’Ivoire, Togo and Burkina Faso. 
25. The recently launched Single African Air Transport Market (SAATM) is also heartening; it will open up transport routes for 12 African countries and create over 150,000 jobs, boosting Africa’s GDP by an estimated $1.3 billion.Taken together with the agreement by a number of African countries to ease visa requirements for African nationals, the benefit to continental economy is immense. However,there is the need to take a critical look at challenges in some ECOWAS treaties that are open to abuse, and review to ensure we achieve desired results. 
26. I strongly believe that our people’s talent for innovation and enterprise makes them our most valuable resources – it is our role therefore, to give them opportunities to translate these into going concerns. This will create wealth and enable us to compete globally. The world community is moving at lightning speed in Information and Communication Technology (ICT), and in overall modernisation as well as renewable sources of energy. Africa cannot afford to lag behind. Government has to perform in a way that gives confidence to civil society as well as the private sector, in order to stimulate economic growth and security. We must work to make the sub-region a place of investment. We must generate wealth for the people of Africa.
27. It is to this end, that the 8th National Assembly under my leadership has, since its inception, prioritised the passage of landmark economic laws to enable SMEs to grow and prosper, including: the Warehouse Receipts Bill; Secured Transactions in Moveable Assets Bill; Credit Bureau Reporting Bill; we have also targeted laws to stimulate agriculture as a way of steamrolling our diversification agenda through the passage of the Commercial Agriculture Credit Guarantee Scheme and the Institute of Soil ScienceBill, the Food Security Bill etc. we have pursued as an overarching policy the revamping of our industrial base through the made-in-Nigeria initiative under the Public Procurement Act (Amendment) Bill; and the Federal Competition Commission Bill. We are reviewing ourcompany law regime through the Companies and Allied Matters Act (CAMA) and the Investments and Securities Act (ISA) in order to reduce the regulatory burden of Nigerian businesses and create a globally competitive market regulatory regime in Nigeria. 
28. Outdated infrastructure related laws have been reviewed and bills passed to increase private sector participation in those sectors. Among these are: the Nigerian Railway Corporation Bill; the Federal Road Authority (Establishment Etc.) Bill; the Nigerian Ports and Harbours Authority Act (Amendment) Bill; and the National Roads Fund (Establishment) Bill. Creating an economic regulatory framework for the infrastructure laws is theNational Transport Commission Bill, which is on the verge of being passed.
29. Anti-corruption is a very important focus for us, to cleanse the Augean stables and strengthen institutions. We have stayed the course with laws such as: the Whistleblowers Protection Bill, Corrupt Practices and Other Related Offences Act (Amendment) Bill, and the Mutual Assistance in Criminal Matters Bill. A day or so ago, the Auditor-General of the Federation welcomed the passage of the Federal Audit Service Commission Bill, and described the legislation as ‘historic’.
30. We are also focusing a great deal of attention to the modernization of our electoral system to make it more accountable and insulated it from politically influence. The National Assembly passed the #NotTooYoungToRun Bill to reduce the age limits for running for office by a wide margin, to open the window of political participation wider to incorporate our youths in the mainstream of governance. deepen democratic participation. Constitutional amendments have also been concluded, the aim of which is to strengthen our electoral processes, to ensure credibleelections. 
31. It is incumbent on us to make clear promises, therefore, and to deliver on them. If the people do not feel that they are governing themselves, it is not good governance no matter the goods we deliver. Our two nations can forge ahead by sharing experiences, building upon valued discourses about the way the world works, and how to make our people beneficiaries as well as contributors to the great leaps of this century. 
32. I would like to touch on the importance of education. If we are to deliver good governance to the next generation of Africans, and if the demographic dividend is to come to fruition, education is key. We must invest in primary, secondary and tertiary education – up to the 26 percent of the national budget as recommended by the United Nations. It must be mandatory for every child to go to school; we should ensure that there are incentives for those that send their children to school, and penalties for those that do not. We have to pull every one of our citizens out of the cycle of poverty and ignorance, and education is the means by which to do so.
33. Let me say that my vision for Africa is an optimistic one. I am very upbeat about the continent, I am very upbeat about the future. There is much to build on. Greater educational, scientific and technological interaction can lay a basis for our part of the world to match the rest of the world. Democracy is not just about elections; it is about putting knowledge at the disposal of a people determined to take their future into their own hands. 
34. In closing, permit me this iteration, that if the African continent is to be a success story – or even the AU for that matter, ECOWAS must play a key role. And for ECOWAS to lead the charge, Ghana and Nigeria must step up to the plate, and fulfil their leadership role on the continent. So, my colleagues, let us take the first step on that journey today, and do so together. 
35. Thank you for your attention. Long live the Parliament of Ghana. God bless the beautiful peoples of Ghana and Nigeria.

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Tinubu’s 2026 Budget Bad Omen for Nigerians – PDP

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2 days ago

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December 21, 2025

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By Eric Elezuo

The 2026 Appropriation Bill presented by President Bola Tinubu before a joint session of the National Assembly has been rated below par, and described as a bad omen for Nigerians, by the opposition Peoples Democratic Party (PDP).

The Tanimu Turaki-led Peoples Democratic Party (PDP) said on Friday that President Bola Tinubu’s 2026 budget would add to the sufferings of Nigeria rather than giving them any renewed hope or consolidation of economic reforms.

The party noted that there would be no renewed hope in an environment where hunger, insecurity and other forms of deprivation were the lot of Nigerians.

It cited the 2025 World Bank Poverty & Equity Brief, which placed more than 30.9% of Nigerians below the international extreme poverty line.

“This shows that there is growth without prosperity for our citizens, meaning that despite GDP growth, poverty remains endemic”, the National Publicity Secretary, Comrade Ini Ememobong, stated on Friday soon after Tinubu presented the 2026 Appropriation Bill of N58.18trillion to a joint session of the Senate and the House of Representatives in Abuja.

Ememobong noted: “The budget, which is themed ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’, claims that the economy is stabilising and promises shared prosperity.

“In response, we see it rather as a budget of consolidated renewed sufferings, because what Nigerians have witnessed since the birth of this administration is nothing but unmitigated hardship on the people, while the governing class relishes in affluence.

“Nigerians have suffered greatly from many economic woes under this administration.

“President Tinubu cited a 3.98% GDP growth rate as evidence of economic stabilisation under his administration.

“However, it is well established that economic growth alone does not and cannot guarantee improved living standards for citizens.

“According to the 2025 World Bank Poverty & Equity Brief, more than 30.9% of Nigerians live below the international extreme poverty line. This shows that there is growth without prosperity for our citizens, meaning that despite GDP growth, poverty remains endemic.

“This clearly indicates that whatever economic gains exist are not reaching the majority of Nigerians.”

The PDP rejected the President’s figures on economic progress, saying rather that Nigeria has been on rever gear.

“The President stated that the economy under his watch grew by 3.98% without stating the sectors that stimulated the growth or identifying those who benefitted from it. This figure reflects the economic decline the nation has suffered under the leadership of the APC-led Federal government when compared to the growth rate of 6.87% recorded in 2013(same period under the last PDP administration), which was driven largely by non-oil sectors such as agriculture and trade.

“Today, the President celebrates a 3.98% growth rate, whereas a reality check reveals excruciating hunger, a high cost of living, and other indices of economic hardship, which Nigerians are currently facing.

“While we acknowledge the security allocation in the 2026 budget, we must remind the government and Nigerians that allocation alone is insufficient.”

The party added, “We therefore, demand effective and transparent execution to ensure that security funding translates into tangible improvements -modern equipment, adequate ammunition, improved intelligence capabilities, and better welfare for security personnel who are currently engaged in different theatres of armed conflict, where criminal non-state actors are alleged to possess superior arms compared to our security forces.

“Overall, we are deeply concerned about the unapologetic admission by the President that the execution of the 2024 capital budget had been extended to December 2025, while the 2025 budget is still in force.

“This confirms the long-standing rumours of the concurrent operation of multiple budgets.

“This cannot be described as best practice, as every budget has a defined period of operation and no two budgets should operate concurrently. The operation of different budgets at the same time undermines fiscal discipline, transparency, and accountability. These multiple budgetary regimes show yet another unprecedented negative feat by this APC Bola Tinubu-led administration.

“We hereby call for increased transparency and accountability in the administration of the finances of our country, as these have been conspicuously absent so far under this administration.

“Financial accountability and transparency are critical to public trust-building and effective public administration.”

The budget with the theme, “Budget of consolidation, Renewed Resilience and Shared Prosperity”, is N3.19trillion higher than the N54.99trillion approved for 2025.

The key aggregates of the budget are expected revenue of N34.33trillion; debt servicing of N15.52trillion; recurrent (non‑debt) expenditure of N15.25trillion; capital expenditure of N26.08trillion; a deficit of N23.85trillion representing 4.28% of GDP.

In addition, the budget will be benchmarked at $64.85 per barrel of crude oil, daily oil production of 1.8million barrels and a dollar/naira exchange.

Below is the full presentation of Tinubu’s 2026 Budget:

FULL SPEECH BY PRESIDENT BOLA AHMED TINUBU AT THE PRESENTATION OF THE 2026 NATIONAL BUDGET

“Budget of Consolidation, Renewed Resilience and Shared Prosperity”

Distinguished Senate President,
Rt. Honourable Speaker and Honourable Members of the House of Representatives,
Distinguished Senators and Honourable Members of the National Assembly,
Fellow Nigerians,,

1. I am here today to fulfil an essential constitutional obligation by presenting the 2026 Appropriation Bill to this esteemed Joint Session of the National Assembly for your consideration.

2. This budget represents a defining moment in our national journey of reform and transformation. Over the last two and a half years, my government has methodically confronted long‑standing structural weaknesses, stabilised our economy, rebuilt confidence, and laid a durable foundation for the construction of a more resilient, inclusive, and dynamic Nigeria.

3. Though necessary, the reforms have not been painless. Families and businesses have faced pressure; established systems have been disrupted; and budget execution has been tested. I acknowledge these difficulties plainly. Yet, I am here, today, to assure Nigerians that their sacrifices are not in vain. The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity.

4. Today, I present a Budget that consolidates our gains, strengthens our resilience, and takes this country from out of the dark tunnel of hopelessness, from survival to growth.

5. The 2026 Budget is themed: “Budget of Consolidation, Renewed Resilience and Shared Prosperity”. It reflects our determination to lock in macroeconomic stability, deepen competitiveness, and ensure that growth translates into decent jobs, rising incomes, and a better quality of life across for every Nigerian.

6. Mr. Chairman, Leaders of the National Assembly, while the global outlook continues to improve, this Budget aims to further strengthen our Nigerian economy to benefit all our citizens.

7. I am encouraged that our reform efforts are already yielding measurable results:
1) Our economy grew by 3.98 per cent in Q3 2025, up from 3.86 per cent in Q3 2024.

2) Inflation has moderated for eight consecutive months, with headline inflation declining to 14.45 per cent in November 2025, from 24.23 per cent in March 2025. With stabilising food and energy prices, tighter monetary conditions, and improving supply responses, we expect the deflationary trend to persist over the 2026 horizon, barring major supply shocks.

3) Oil production has improved, supported by enhanced security, technology deployment, and sector reforms.

4) Non‑oil revenues have expanded significantly through better tax administration.

5) Investor confidence is returning, reflected in capital inflows, renewed project financing, and stronger private‑sector participation.

6) Our external reserves rose to a 7‑year high of about US47 billion dollars as of last month, providing over 10 months of import cover and a more substantial buffer against shocks.

8. These outcomes are not accidental or lucky. They are the consequence of our difficult policy choices. Our next objective is to deepen our gains in pursuit of enduring and inclusive prosperity.

9. Mr. Chairman, Distinguished Members, our 2025 budget implementation faced the realities of transition and competing execution demands. As of Q3 2025, we recorded:
• 18.6 trillion naira in revenue — representing 61% of our target; and
• 24.66 trillion naira in expenditure — representing 60% of our target.

10. Following the extension of the 2024 capital budget execution to December 2025, a total of 2.23 trillion naira was released for the implementation of 2024 capital projects as of June 2025.

11. While fiscal challenges persisted, the government met its key obligations. However, only 3.10 trillion naira — about 17.7% of the 2025 capital budget — was released as of Q3, reflecting the emphasis on completing priority 2024 capital projects during the transition period.

12. Let me be clear: 2026 will be a year of stronger discipline in budget execution. I have issued directives to the Honourable Minister of Finance and Coordinating Minister of the Economy, the Honourable Minister of Budget and Economic Planning, the Accountant‑General of the Federation, and the Director‑General of the Budget Office of the Federation to ensure that the 2026 Budget is implemented strictly in line with the appropriated details and timelines.

13. We expect improved revenue performance through the new National Tax Acts and the ongoing reforms in the oil and gas sector — reforms designed not merely to raise revenue, but to drive transparency, efficiency, fairness, and long‑term value in our fiscal architecture.

14. I have also provided clear and direct guidance regarding Government‑Owned Enterprises. Heads of all agencies have been directed to meet their assigned revenue targets. To support this, we will deploy end‑to‑end digitisation of revenue mobilisation — standardised e‑collections, interoperable payment rails, automated reconciliation, data‑driven risk profiling, and real‑time performance dashboards — so leakages are sealed, compliance is verifiable, and remittances are prompt. These targets will form core components of performance evaluations and institutional scorecards. Nigeria can no longer afford leakages, inefficiencies, or underperformance in strategic agencies. Every institution must play its part.

15. Mr Chairman and fellow Nigerians, the 2026 Budget is guided by four clear objectives:
1) Consolidate macroeconomic stability;
2) Improve the business and investment environment;
3) Promote job‑rich growth and reduce poverty; and
4) Strengthen human capital development while protecting the vulnerable.

16. In short: we will spend with purpose, manage debt with discipline, and pursue broad-based, sustainable growth.

17. Distinguished Members, the 2026 Federal Budget is anchored on realism, prudence, and growth.

18. The key aggregates are as follows:
1) Expected total revenue is 34.33 trillion naira.
2) Projected total expenditure is 58.18 trillion naira, including 15.52 trillion naira for debt servicing.
3) Recurrent (non‑debt) expenditure is 15.25 trillion naira.
4) Capital expenditure will be 26.08 trillion.
5) The Budget deficit is expected to be 23.85 trillion naira, representing 4.28% of GDP.

19. These numbers are not mere accounting lines. They are a statement of national priorities. We remain firmly committed to fiscal sustainability, debt transparency, and value‑for‑money spending.

20. The 2026–2028 Medium‑Term Expenditure Framework and Fiscal Strategy Paper sets the parameters for this Budget. Our projections are based on:
1) a conservative crude oil benchmark of US64.85 dollars per barrel;
2) crude oil production of 1.84 million barrels per day; and
3) an average exchange rate of 1,400 naira to the US Dollar for the 2026 fiscal year.

21. We will continue to reduce waste, strengthen controls, and ensure that every naira borrowed or spent delivers measurable public value.

22. Our allocations reflect the Renewed Hope Agenda and the practical needs of Nigerians. Key sectoral provisions include:
1) Defence and security: 5.41 trillion naira
2) Infrastructure: 3.56 trillion naira
3) Education: 3.52 trillion naira
4) Health: 2.48 trillion naira

23. These priorities are interlinked. Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprises will not scale. This Budget is, therefore, designed to provide a single, coherent programme of national renewal.

A. National Security and Peacebuilding
24. National Security remains the foundation of development. The 2026 Budget strengthens support for:
• modernisation of the Armed Forces;
• intelligence‑driven policing and joint operations;
• border security and technology‑enabled surveillance; and
• community‑based peacebuilding and conflict prevention.

25. We will invest in security with clear accountability for outcomes — because security spending must deliver results. To secure our country, our priority will remain on increasing the fighting capability of our armed forces and other security agencies and boosting the effectiveness of our fighting forces with cutting-edge equipment and other hardware.

26. We will usher in a new era of criminal justice. We will show no mercy to those who commit or support acts of terrorism, banditry, kidnapping for ransom and other violent crimes.

27. Our administration is resetting the national security architecture and establishing a new national counterterrorism doctrine — a holistic redesign anchored on unified command, intelligence gathering, community stability, and counter – insurgency. This new doctrine will fundamentally change how we confront terrorism and other violent crimes.

28. Under this new architecture, any armed group or gun-wielding non-state actors operating outside state authority will be regarded as terrorists.

29. Bandits, militias, armed gangs, armed robbers, violent cults, forest-based armed groups and foreign-linked mercenaries will all be targeted. We will go after all those who perpetrate violence for political or sectarian ends, along with those who finance and facilitate their evil schemes.

B. Human Capital Development: Education and Health
30. No nation can grow beyond the quality of its people. The 2026 Budget strengthens investments in education, skills, healthcare, and social protection.

31. In education, we are expanding access to higher education through the Nigerian Education Loan Fund. Over seven hundred and eighty eight thousand students have been supported, in partnership with two hundred and twenty nine tertiary institutions nationwide.

32. In healthcare, I am pleased to highlight that investment in healthcare is 6 per cent of the total budget size, net of liabilities.

33. We also appreciate the support of international partners. Recent high‑level engagements with the Government of the United States have opened the door to over 500 million United States dollars for health interventions across Nigeria. We welcome this partnership and assure Nigerians that these resources will be deployed transparently and effectively.

C. Infrastructure and Economic Productivity
34. Across the nation, projects of all shapes and sizes are moving from vision to reality. These include transport and energy infrastructure, port modernisation, agricultural reforms, and strategic investments to unlock private capital.

35. We will take decisive steps to strengthen agricultural markets. Food security shall remain a national priority. The 2026 Budget focuses on input financing and mechanisation; irrigation and climate‑resilient agriculture; storage and processing; and agro‑value chains.

36. These measures will reduce post‑harvest losses, improve incomes for small holders, deepen agro‑industrialisation, and build a more resilient, diversified economy.
37. In 2026, the Bank of Agriculture plans to plant confidence back into our soil; mechanising through seven regional hubs, protecting harvests with fair prices and substantial reserves, providing affordable finance to millions of small holders and growing export value. Under the plan, Nigerian farmers will cultivate one million hectares, create hundreds of thousands of jobs, and prove that prosperity can rise through better use of our God given land.

D. Procurement
38. Starting in November last year, the government has embarked upon a comprehensive framework of procurement reforms. These reforms have enhanced efficiency and generated significant cost savings for the government, resulting in resulting in reduced processing times for Government contracts and better enforcement procedures directed against erring contractors and government officials.

39. Our Nigeria First Policy has been established to encourage self-sufficiency and sustainable growth within Nigeria by promoting domestic products and businesses. By mandating that all Ministries, Departments, and Agencies (MDAs) consider Nigerian-made goods and local companies as their primary option, the policy aims to support local industries, create job opportunities, and reduce dependency on imported items. This bold new approach is expected to enhance the competitiveness of Nigerian enterprises, foster innovation, and ultimately contribute to the country’s overall economic development.

40. Distinguished Members and fellow Nigerians, the most significant budget is not the one we announce. It is the one we deliver.

41. Therefore, 2026 will be guided by three practical commitments:
1) Better revenue mobilisation through efficiency, transparency, and compliance.
2) Better spending by prioritising projects that can be completed, measured, and felt by citizens.
3) Better accountability through strengthening of procurement discipline, monitoring, and reporting.

42. We will build trust by matching our words with results, and our allocations with outcomes.

43. Distinguished Members of the National Assembly, fellow Nigerians, the 2026 Budget is not a budget of promises; it is a Budget of consolidation, renewed resilience and shared prosperity. It builds on the reforms of the past two and a half years, addresses emerging challenges, and sets a clear path towards a more secure, more competitive, more equitable, and more hopeful Nigeria.

44. I commend the people of this country for their understanding and resilience. My administration remains committed to easing the burdens of the transition to a more stable and prosperous nation. We promise to make sure that the benefits of reform reach households and communities across the Federation.

45. In united purpose between the Executive and the Legislature; and with the resilience of the Nigerian people, we will deliver the full promise of the Renewed Hope Agenda.

46. It is, therefore, with great pleasure that I lay before this distinguished Joint Session of the National Assembly; the 2026 Appropriation Bill of the Federal Republic of Nigeria, titled: “Budget of Consolidation, Renewed Resilience and Shared Prosperity”. I seek your partnership in charting the nation’s fiscal course for the coming year.
​
47. May God bless the Federal Republic of Nigeria.

48. Thank you.

Bola Ahmed Tinubu, GCFR
President, Commander-in-Chief of The Armed Forces,
Federal Republic of Nigeria

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Insecurity: Akpabio Begs Tinubu to Reinstate Police Orderlies for NASS Members

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3 days ago

on

December 20, 2025

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Senate President, Godswill Akpabio, has appealed to President Bola Tinubu to reconsider the directive withdrawing police orderlies from members of the National Assembly, citing safety concerns.

Akpabio made the appeal during the presentation of the 2026 budget to a joint session of the National Assembly, by President Tinubu, warning that some lawmakers fear they might be unable to return home safely following the withdrawal.

His said: “As we direct the security agencies to withdraw policemen from critical areas, some of the National Assembly said I should let you know they may not be able to go home today.

“On that note, we plead with Mr. President for a review of the decision.”

President Tinubu, on November 23, ordered the withdrawal of police officers attached to Very Important Persons (VIPs), directing that they be redeployed to core policing duties across the country.

According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu issued the directive after a security meeting with Service Chiefs and the Director-General of the Department of State Services (DSS) following heightened security issues in the country.

Under the order, VIPs requiring security are to seek protection from the Nigeria Security and Civil Defence Corps, as the Federal government seeks to boost police presence in communities, particularly in remote areas grappling with insecurity.

Tinubu later reaffirmed the directive on December 10, moments before presiding over the Federal Executive Council, expressing frustration over delays in implementation.

He instructed the Minister of Interior, Olubunmi Tunji-Ojo, to work with the Inspector-General of Police (IGP), Kayode Egbetokun, and the Civil Defence Corps to immediately replace withdrawn escorts to avoid exposing individuals to danger.

“I honestly believe in what I said…It should be effected. If you have any problem because of the nature of your assignment, contact the IGP and get my clearance,” Tinubu said.

“The minister of interior should liaise IG and the Civil Defence structure to replace those police officers who are on special security duties.

“So that you don’t leave people exposed,” he said.

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Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS

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3 days ago

on

December 19, 2025

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President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion and putting the crude oil benchmark at US$64.85 per barrel.

He said the expected total revenue is N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. The budget is N23.85 trillion, representing 4.28% of GDP.

The budget was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security took the lion’s share with N 5.41 trillion, followed by infrastructure at N3.56 trillion.

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