Headline
Osinbajo Celebrates Success Stories of Young Nigerians at The Platform
Published
8 years agoon
By
Eric
The Vice President of Nigeria, Prof Yemi Osinbajo, has celebrated success stories of several young Nigerians across the globe. He also called called for the Nigerian bridge to connect ethnic groups, dialects, religion, politics and generations.
“My point is that we can contribute in profoundly transformative ways to changing our society by just doing our bit with excellence,” the Vice President.
Prof Osinbajo’s call was made at the Workers’ Day lecture held at The Platform event of the Covenant Church, Iganmu, Lagos.
See below the full text of His Excellency’s speech:
Nation-building in its classical sense refers to the formal and informal processes by which political leadership attempts to build a national identity, a national ethos, a national spirit, especially in ethnically and religiously diverse societies.
But it is my thesis that while government’s role is in casting the vision and creating the environment for nationhood, the real building of nations is done and best seen through the efforts and accomplishments of many outside of political leadership.
Men and women in business, agriculture, education, entertainment and the arts, who by just doing their business diligently, or serving faithfully or making sacrifices contribute to building the economies and social systems that ultimately build the nation.
This afternoon I will share some of the stories of young people many of whom I have met who by just doing their own work faithfully have contributed to building our economy, increased our national pride and confidence, created opportunities for others, as well as, inspired others to be the best they can be.
My point is that we can contribute in profoundly transformative ways to changing our society by just doing our bit with excellence.
Let me begin with the exceptional role of young Nigerians in innovation and technology. On the 17th of April, I did a tour of technology businesses and hubs in Lagos.
Paystack was my first stop, here is a safe payment system, which offers seamless money transactions between businesses and their customers. It was established in 2016 by two young Nigerian alumni of Babcock University; Sola Akinlade and Ezra Olubi. Within the first three months of 2018 they have processed over N3billion and generate about N40billion annually for Nigerian businesses.
The company is today powering over 9,000 businesses that did not exist two years ago, creating over 25,000 jobs. Paystack has over 50 employees all under 35 years old.
I was also at Andela , a multinational company specializing in training software developers, co-founded by Nigerian born Iyin Aboyeji, & others like Ian Carnevale, Jeremy Johnson and Christina Sass. The company estimates that in the next 10 years there will be 1.3million software development jobs and only 40,000 computer science graduates to fill them.
The company’s vision is to change the future of Nigeria and the African continent by developing talent and potential in Nigeria. Today, the company has 1000 employees worldwide.
To enable that to happen government’s role is to mainstream technology startups to be able to benefit from the incentives of industry.
Kola Oyeneyin’s Venia Business/ Hub, is one of the earliest business hubs in Nigeria. Here, he has provided an effeicient environment for many startups. Most of who use each other’s skills and technology cooperatively.
But the pioneer of Nigerian hubs is clearly the Co-Creation Hub or CC Hub founded in 2010 by two young social entrepreneurs, Bosun Tijani and Femi Longe. It provides a platform for using innovative technology to solve social problems. Nearly 50 Nigerian tech driven businesses were incubated in CC hub. Some include now famous and dominant players like Budgit, Wecyclers, Genni Games, Lifebank, Gomyway, Vacantboards, Traclist, Autobox, Stutern, Gritsystems and Mamalette.
All these businesses were started by young men and women under thirty-five. One of the startups that came out of Venia Hub is Flutterwave founded” in May 2016 by Iyin Aboyeji and a team of engineers and former bankers. This is a payment technology company that has since processed $2billion worth of transactions on its payment platforms.
Tayo Oviosu‘s Paga, is in a class by itself. It is the leading mobile money transfer service in Nigeria. Paga has 11,000 agents across Nigeria and 6 million users. The company has a staff strength of 200. By facilitating payments for goods and services in this way, Paga has enabled several businesses and transactions.
In healthcare, many young people are solving huge problems with ease. Temi Giwa’s LifeBank and Ola Orekunrin’s Flying Doctors are two startups using technology and innovation to fill critical gaps in our healthcare industry. Lifebank works on the blood shortage problem in hospitals and save lives by speeding up blood donations and delivery to hospitals in Lagos. Their Lifebank app connects donors and hospitals and they ensure delivery of blood within 55 minutes.
Ola Orekunrin’s flying doctors, is the first air operated emergency medical service in West Africa. Her company provides air ambulances from a pool of 20 aircrafts and highly trained medical personnel for emergency evacuations.
The building of a self-reliant nation must mean that the Nation should at least be able to feed itself. The response of many young Nigerians to the President’s call to “grow what we eat, eat what we grow,” and also diversify our economy is responsible for the phenomenal growth we have experienced in the past three years in the Agricultural sector.
The transformation in productivity and increase in investment that Nigerian talent and entrepreneurship have brought to agriculture is truly remarkable.
Farmcrowdy is a digital agriculture portal that crowdsources funding for farms across Nigeria. Founded in 2016 by Onyeka Akumah and three other young Nigerians, it operates like a mutual fund; pooling together money from multiple investors to establish farms and hire smallholder farmers to cultivate them, and then paying the investors dividends from the harvests from these farms. In December 2017 it succeeded in raising US$1m in funding. From November 2016 till date, over 3000 rural farmers have been able to keep a job, expand their farm operations and increase their revenue as a result of intervention by Farmcrowdy.
Such farmers include Sunday Ohimai who is a cassava farmer in Edo State, Esther a maize farmer from Dorowa-Babuje, just outside Jos, who recently improved her small acreage to a hectare and Uka Eje ‘s Thrive Agric in Abuja, who uses the same business model as Farmcrowdy also,with great success.
Four years before Farmcrowdy, in 2012, Yemisi Iranloye founded Psaltry, a cassava processing company in the rural town of Ado- Awaye. The starch it produces from the processed cassava is now used by several leading Nigerian food manufacturing companies, including Nestle, Unilever and Nigerian Breweries – as they increasingly replace imported starch with locally-sourced varieties. Psaltry was one of the companies that found growth opportunities in the midst of the recession, as companies cut down on imports and explored locally available substitution. In 2015 its revenues grew three-fold, and in 2016 it began building a second production line.
Abdul Fatah Sadiq Murtala, 25, is from Batagarawa local government in Katsina state. He founded Brio Green Agro Nigeria in 2016. It builds greenhouses and hydrophonic systems. Hydroponics is a method of growing plants in the growth chambers without soil. Brio Green is producing Animal fodder feed in a climate-controlled facility year round using this technology,. Brio Green Agro supplies farms and ranches with fodder feed.
Kola Masha’s Babban Gona supports smallholder farmers in Northern Nigeria with financing, agricultural input, training and marketing. Masha is leveraging his experience in both the private and public sectors to deliver solutions that are changing the lives of thousands of struggling farmers like Umar Magaji, a 35-year-old farmer, who owns 1.5 hectares and, as of this year, leases another 2.5 hectares. He plans to lease a further 2 hectares next year.
Thanks to Babban Gona, he says, his yields are two to three times what they once were. He has refurbished his house, bought a motorcycle and enrolled his children in the village school. He is hopeful he can perform the pilgrimage to Saudi Arabia within the next two years.
Angel Adelaja, founder of Fresh Direct, has perfected an innovative approach to farming, in disused containers, without soil and with very little water. What she’s doing could very well be the start of an urban farming revolution in Nigeria.
Also while visiting the Workstation Hub in Victoria Island I had the pleasure of drinking Sola Ladoja’s fresh juice-‘Pick me up’ made by his start up Simply Green. Simply Green is a farm- to -bottle raw organic cold press juice company. Using organic and technologically harvested practices, meaning no chemicals or pesticides are used in growing their fruits and vegetables.
In beauty and high fashion, there is very little doubt that young Nigerians have captured and in some instances, dominating local and international imagination. So the ground breaking pioneering works of Deola Sagoe and Lisa Folawiyo has spawned a whole new generation of Nigerian designers confidently using Nigerian and African prints to make bold and unmistakable statements in high fashion. So today, Deola Sagoe has transformed the traditional Yoruba Iro and Buba, by using laser cut Aso-Oke to create the now famous Komole, the toast of brides across the country.
Lisa Folawiyo has on her part taken beaded African prints to new levels of creativity and both have inspired a new generation of designers like, Andrea Iyamah, and 31 year old Amaka Osakwe, Maki oh! (started at 23) is celebrated in Vogue magazine and last year in the New Yorker as West Africa’s most daring designer. Her use of adire in many collections is an intentional ploy to boldy redefine elements of culture.
Orange Culture, Mai Atafo are also literarily making waves in Men’s clothing.
In the beauty industry, Tara Fela-Durotoye, founder of the House of Tara and Banke Meshida, BM-PRO stand out as pioneers who have influenced a whole generation of beauty experts, and beauty products and opened a new vista in bridal make up. Tara’s training of hundreds of beauty experts and franchising of her House of Tara has created a whole new indigenously Nigerian beauty industry.
This has created thousands of jobs for beauty experts and retailers. So now we see more ladies with their contours and highlights popping (on fleek – trend for good make up) Shomaya, (Elaine Edozien Sobanjo) Joyce Jacob have also introduced Hollywood glamour to the Nigerian wedding make up industry.
By the way, what celebration today can beat the Nigerian wedding? from the make-up, dresses, to the decor, catering, cakes, party planning, and the photography; a whole new industry has developed by creative young people making an otherwise memorable event, even more memorable and linking ethnicities across the country in fashion and ceremony.
Today everyone Yoruba, Ibo, Hausa, many others from different ethnic groups wear Aso Ebi, and their wedding ceremonies are becoming increasingly similar, not by a uniformity that results in loss of culture or tradition, but by a creativity that brings a standard while accentuating tradition and culture. The whole nature of the moderation, yet preservation of the traditional engagement ceremony is such testament to the depth of thought and creativity that has promoted, perpetrated and internationalized our tradition and values.
The Nigerian wedding is becoming so popular that the film “Wedding Party” was a major international commercial success.
It is perhaps in the literary arts, especially the written and spoken word that we see the difficult issues of nation building most poignantly confronted by young people. A new generation of literary torchbearers has emerged. Talents like Chimamanda Adichie, Helon Habila, Teju Cole, Chika Unigwe, Chigozie Obioma, Chibundu Onuzo, Abubakar Ibrahim, Eghosa Imasuen, Ayobami Adebayo, Elnathan John and many more, poets like Titilope Sonuga, Dike Chukwumerije, picking up the baton from the Soyinkas and Achebes.
Their works expose the complications and the solutions to the issues associated with the mentality of persons in the post colonial state, a multi ethnic multi religious, society and underscore the question and process of emerging from these records and histories and building a nation therefrom. The reflection and introspection, their talents, boldness, precision, undiluted expressions and call to action invoke in us all is exactly what nation building and greatness is made of.
They are not timid, and represent a growing class of sophistication and confidence that confront lingering post-civil war and even post colonial aches and pains. They highlight the hypocrisy of ethno-religious barriers often set by the elite for selfish advantage and expose the underlying selfishness and failure of statesmanship that exploits fault lines for political and personal benefit. They highlight the cancer of systemic corruption and how it has eaten into the fabric of our society and cost us lives, years and retrogression.
These writers and poets explore, explain and humanize the difficult issues around social justice, the humiliation and delegitimization that poverty brings, and the failures of the rule of law.
In Chimamanda Adichie’s “Half of a Yellow Sun,” one of the main characters, a University Professor, tells his houseboy: “There are two answers to the things they will teach you about our land: the real answer and the answer you give in school to pass. You must read books and learn both answers. I will give you books, excellent books. They will teach you that a white man called Mungo Park discovered River Niger. That is rubbish. Our people fished in the Niger long before Mungo Park’s grandfather was born. But in your exam, write that it was Mungo Park.”
This reminds me of one of the proverbs that Chinua Achebe popularized: “Until the lions have their own historians, the history of the hunt will always glorify the hunter.” – an affirmation of the truth that nation-building is to a large extent about storytelling and the importance of telling our own stories and writing our own histories.
Aniete Isong’s “Radio Sunrise” is a scathing indictment of bribery in the Journalism profession. That the watchdogs of our democracy are sometimes mere captives of corrupt politicians and that news and its analysis may often be paid for. There is no doubt that grand corruption remains the most enduring threat to our economy.
Just to give an example, Three Billion US dollars was stolen in the so called Strategic Alliance contracts. Three Nigerians were responsible. Today 3 billion dollars is 1trillion Naira and our budget is 7 trillion! When oil was selling at 100-114 dollars a barrel, the government spent N99b Transport and Agric got N15b and N14b respectively in total three ministries got N139b. Today with oil prices between $60 and 70 per barrel, Power Works and Housing in a year got N415b, Transportation N80b, and N65b for Agriculture totaling N560b.
How come we can do more with less income?
We are investing in infrastructure: started Lagos-Kano standard gauge railway, the Mambilla Hydro, the second Niger Bridge and so on. If you control corruption you can do more with less.
Dike Chukwumerije, reminds us in his powerful poem the Revolution has no tribe that our destinies as Nigerians no matter our tribe or religion are inextricably tied together. What affects one affects all. Suffering neither knows tribe nor tongue.
He says:
“Do you not know that poverty is not an Ijaw man?
He will not spare the rest of us and afflict only the Ishan
He will step over the river and come across the border
So, when the drums sound let everybody answer
Do you not know that corruption is not from Nekede?
He will not hear that Ife had no dealings with Modakeke
He will wake up all of our children at night with hunger
So, when the drums sound, let everybody answer
Do you not know that our enemies have no face?
They are indigenes of no state, they come from no place
and, if this boat capsizes every one of us will go under
So, when the drums sound, let everybody answer
Do not say, “I am an iroko”, when the forest is burning
Do not say, “I am an obeche”, when the forest is burning as
Our differences will not prevent us from perishing together
So, when the drums sound, let everybody answer.”
Nations are also built by the contributions of public servants, those who work for governments despite the relatively poor remuneration.
Damilola Ogunbiyi was 28 when as the first female General Manager of the Lagos State Electricity Board, she supervised the building of the 5 independent power plants in Lagos State and was responsible for providing solar power to over 200 schools and primary health centers in the State. Today still under 40 years old, she is the first female Managing Director of the Rural Electrification Agency, REA, responsible for providing uninterrupted power to 37 Federal Universities and seven Teaching Hospitals.
She has started the project to provide power to Nigeria’s largest markets. Aready the first phase of the project has been completed in Sabongari market in Kano, and the construction phase has been completed for the Ariaria market in Aba.
Afolabi Imokhuede handles the Npower programme, a major feature of the Federal Government’s Social Investment Programme. The programme engages 200,000 graduates across all the States and the local governments . Its applications came through a portal developed by Softtcom, a company of young Nigerian engineers. The process is completely transparent and you don’t need to know anyone to be engaged.
Tochi Nwachukwu is the Special Assistant to the President on power privatization responsible for transmission, Ime Okon is a Senior Special assistant to the President advising on railways, roads, airports and other infrastructure projects,
Mariam Masha, a medical doctor, and Senior Special Assistant to the President on IDPs and Bisi Ogungbemi, both have been working with IDPs in Maiduguri since August 2015. Recently they have been managing a newly built learning Centre and home for 1500 orphans in Maiduguri. There is also Mohammed Brimah who works on the North East Humanitarian technolgy hub, where ground- breaking innovation to tackle humanitarian challenges are developed.
But often forgotten are the excellent teachers in primary and secondary schools. Take the wonderful ingenuity and dedication of Emeafor Roland Chigozie, a secondary school teacher in the FCT, who has earned several awards for extraordinary efforts in raising our next generation. This Micro- Biology and Chemistry graduate of the University of Nigeria, Nsukka, was named the best science teacher and recognized specially for exceptional performance in preparing FCT students in quiz and projects exhibitions. He also recently received another award for contributing to the 774 Young Nigerian Scientists Presidential Award competitions. As a chemistry teacher, the success rate of Emeafor’s students in the past 5 years of WAEC and NECO Exams ranged from 87% to 92%.
There is also Doreen Osarobo Omoregie, a school teacher from Edo State, currently working in the FCT. She is a graduate of Chemistry Education, and she deserves this mention just because she consistently goes beyond the call of service in discharging her responsibilities. Even as a youth corper serving in a primary school, she organized a workshop for teachers on the use of primary science kits. She was soon able to take her school towards winning the award for the first best state school in Nigeria in science. Miss Omoregie herself was best science teacher in her school for three consecutive years. Quite remarkably, she was able to use her knowledge in producing items like soap, sanitizer, disinfectants etc which were used to protect students and teachers during the Ebola crises.
I am amazed at the incredible work they do.
These are the true nation builders, teachers, farmers, entrepreneurs, public servants, who work in this country, pay taxes, bear the hardships, but remain focused. They are the determined ones who never lose hope that change even if slow is possible and the only option, even when painful and unpopular. They are prepared to do their own part day by day. Their own dreams of greatness and their hardwork are the building blocks of our Nation.
And how about the young men and women of the police and armed forces who lay their lives on the line daily to protect us ? The story of Late Colonel Muhammad Abu Ali, has been told often. As commander of the 272 Task Force battalion. His battalion was responsible for the recapture of Bama, Baga, Monguno and later Konduga in Borno State. He was decorated for bravery and excellence. He had become a terror to Boko Haram insurgents.
But he and four other soldiers were killed in an ambush. He was 36 years old, survived by his wife and three children.
The story of late Sergeant Chukwudi Igboko went viral when he confronted armed robbers in a daylight robbery at a Zenith bank in Owerri, Imo State. He killed one of the robbers, the robbery was foiled but he and another officer Sgt Sunday Agbo died of the gun shot injuries they sustained during the attack. Both left wives and children. It is to these men and women who fight to defend our nation from terrorism, and crime that we owe the preservation of our nationhood .
Some do not die but lose their limbs, their sight or hearing. The widows, widowers and children of these brave men and women bear the pain and anguish of loss by themselves for many years.
And then there is the entertainment sector, whose main advantage lies in how it transcends tribe, tongue and location to bring joy to the screens of millions of Nigerians. Think of how much bliss the music videos of Clarence Peters and the bestselling comedies of Ayo Makun, Basket mouth, Akpororo, Chioma Emeruwa( Chi gal) Falz the Bad guy, Funke Akindele (Jenifa), and the multi talented comedian singer Kenny Black have brought to audiences at home and abroad. They proudly fly our flag and make us proud. But one of our favourites at the villa is Senator MC Toguwaye, “his excellency the President.” His impersonations of the President has him nearly falling off his chair with laughter. And then there is the newest generation, emerging as we speak on Instagram and WhatsApp. Lasisi Elenu (‘Somun just happen right now!’), Williams Uchemba (“You know I don’t like what I hate”).
Stand up Comedy in Nigeria owes much to the pioneering efforts and mentor ship of Ali Baba. He literally created a whole industry. AY Ayo Makun is not just successful he has continually given a new generation of comedians a platform with his AY live shows.
As Dr. Martin Luther King Jr. said. “An individual has not started living until he can rise above the narrow confines of his individualistic concerns to the broader concerns of all humanity”.
Few will deny the incredible dividends that Nollywood has brought to Nigeria. Jason Njoku and his wife, Mary, owners of Iroko and Rock TV pioneered live streaming of Nollwood movies, taking Nollywood to the world. They have also provided opportunities for hundreds of production personnel and agents.
For a lot of these, it is to Mo Abudu, founder Ebonylife TV which airs in 49 countries, and a prolific creator of high quality Afro-centric entertainment content, that pride of place must be given. Mo Abudu has continuously sought to change the negative perceptions of Africa by telling Africa stories from an African perspective. Her project the “Wedding Party” became the highest grossing Nigerian movie.
Wherever you go in the world today, on airplanes or in department stores you can hear Nigerian music. The credit for taking Nigerian music to the world must go to stars like Tiwa Savage, Davido, Olamide, Wizkid, Waje and so many others. Their creativity and talent has benefited our nation’s image and put a spring to the steps of so many young and aspiring entertainers. The credit for the discovery, grooming and production of many world class Nigeria acts and records, and building true Nigerian brands is to the likes of DonJazzy (Marvin records), and Banky W’s E.M.E.
As government our business is to create the environment for entrepreneurs to do business, so we are working on access to cheap credit, and on providing infrastructure, especially power, greater broadband penetration.
But the task of nation building is never done. The builders confront new problems daily. Today we are confronted with the remnants of Boko Haram terrorism, with farmer/herdsmen clashes, and the potential of ethno religious conflict, we have to feed ourselves, provide millions of new jobs, as every day more people are added to our population. The job of the builder is not to complain or escape, but to confront and solve.
What can we do together to ensure that we don’t spend the rest of our days looking forward to the past, frozen by inaction, resolved to doing the same things over and over, and hoping for better results?
I believe the solution is in building the Nigerian bridge. This bridge will not be built of steel or bricks and mortar, but it must be made of the strongest materials of all, our will to excel, our commitment to build a new society, men and women of a new Nigerian Tribe.
This is a bridge that connects us across tribes, ethnicities and dialects, a bridge that connects us across religion, politics and generations. Every one can travel on this bridge, this strong and steady bridge, a bridge that rises from innovation and traditions that span the troubled waters of our past. A bridge that will withstand the powerful forces of fear, division and exclusion. A bridge that can take the traffic of our best ideas, our creativity, our human and material resources daily to the destination of our national dreams. The bridge will be built with the wisdom of the elderly and the strength of youth. All of us deserve some accolades!
Related
You may like
Headline
Tinubu’s 2026 Budget Bad Omen for Nigerians – PDP
Published
21 hours agoon
December 21, 2025By
Eric
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
Related
Headline
Insecurity: Akpabio Begs Tinubu to Reinstate Police Orderlies for NASS Members
Published
2 days agoon
December 20, 2025By
Eric
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.
Related
Headline
Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS
Published
2 days agoon
December 19, 2025By
Eric
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.
Related


Another 115 Students of Catholic Missionary School Papiri Reportedly Regain Freedom
Voice of Emancipation: Christmas: A Time to Reflect
Adeleke Celebrates Owa Obokun, Ijesa People on Iwude Ijesha Festival
Hollywood Bubbles As Season of Awards Sets in
Consistent, Focused, Impactful: The Story of Bella Disu
Tinubu’s 2026 Budget Bad Omen for Nigerians – PDP
Actress Iyabo Ojo Makes Case for Single Mothers
NNPCL Slashes Fuel Price by N80
Book Launch: Tinubu Vows to Sustain Buhari’s Legacies
Alleged Corrupt Practices: Dangote Petitions ICPC Against NMDPRA MD Farouk
Corruption Allegations: NMDPRA Boss Farouk Ahmed Meets Tinubu, Resigns
I’m Ready for Probe, NMDPRA Boss Farouk Ahmed Responds to Dangote’s Corruption Allegation
Tinubu Didn’t Win 2023 Election, Will Lose in 2027 – Abaribe
US Congressman Recounts Harrowing Experience in Nigeria, Confirms ‘Systematic Genocidal Campaign’
Trending
-
Business3 days agoNNPCL Slashes Fuel Price by N80
-
National6 days agoBook Launch: Tinubu Vows to Sustain Buhari’s Legacies
-
Headline5 days agoAlleged Corrupt Practices: Dangote Petitions ICPC Against NMDPRA MD Farouk
-
Headline4 days agoCorruption Allegations: NMDPRA Boss Farouk Ahmed Meets Tinubu, Resigns
-
National5 days agoI’m Ready for Probe, NMDPRA Boss Farouk Ahmed Responds to Dangote’s Corruption Allegation
-
Headline6 days agoTinubu Didn’t Win 2023 Election, Will Lose in 2027 – Abaribe
-
World6 days agoUS Congressman Recounts Harrowing Experience in Nigeria, Confirms ‘Systematic Genocidal Campaign’
-
Featured3 days agoRibadu’s Office Denies Arming Miyetti Allah in Kwara

