Headline

African Finance Summit: Buhari Departs Abuja for France

Published

5 years ago

May 16, 2021

Eric

President Muhammadu Buhari will this Sunday depart Abuja for Paris, France, on a four-day official visit to attend the African Finance Summit.

Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, confirmed this in a statement in Abuja on Saturday.

According to him, the summit will focus on reviewing the African economy following shocks from the Coronavirus pandemic and getting relief, especially from the increased debt burden on countries.

He added that the summit, to be hosted by President Emmanuel Macron, would draw major stakeholders in the global financial institutions and some Heads of Government, who will, collectively, discuss external funding and debt treatment for Africa, and private sector reforms.

He said, during the visit, President Buhari would meet with the French President to discuss growing security threats in Sahel and Lake Chad region, political relations and economic ties.

Shehu revealed that the two leaders would also deliberate on climate change and partnership in buoying the health sector, particularly in checking the spread of COVID-19, with more research and vaccines.

”Before returning to Nigeria, President Buhari will receive some key players in the oil and gas sector, engineering and telecommunications, European Council and European Union Representative for Foreign and Security Policy and Commission, and members of the Nigerian community,” he said.

He stated that the president would be accompanied by Minister of Foreign Affairs, Geoffrey Onyeama, Minister of Finance, Budget and National Planning, Zainab Ahmed, Minister of Trade and Investment, Adeniyi Adebayo, and Minister of Health, Dr Osagie Ehanire.

Other on the trip, according to him, are: National Security Adviser, retired Maj. Gen. Babagana Monguno and Director General of National Intelligence Agency (NIA), Amb. Ahmed Rufai.

Headline

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

Published

12 hours ago

December 19, 2025

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.

Headline

Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

Published

2 days ago

December 18, 2025

Eric

Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles.

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

Headline

Free at Last: Burkina Faso Releases 11 Nigerian Soldiers, Aircraft

Published

2 days ago

December 18, 2025

Eric

Burkina Faso has released Nigerian soldiers who were detained after their aircraft made a forced landing in the Sahelian country earlier this month, Nigerian officials said.

The release followed a diplomatic intervention by President Bola Tinubu, who dispatched a high-level delegation led by the Minister of Foreign Affairs, Yusuf Tuggar, to meet Burkina Faso’s Military Leader, Ibrahim Traoré, on Wednesday.

In a statement, Alkasim Abdulkadir, Tuggar’s spokesperson, said both sides resolved the matter amicably and secured the release of the Nigerian Air Force pilots and crew.

The soldiers had been held for nearly two weeks after the Confederation of Sahel States (AES) described the aircraft’s landing as an “unfriendly act” carried out in defiance of international law.

The Nigerian Air Force, however, said the crew encountered a technical issue that required a precautionary landing in Bobo-Dioulasso, the nearest available airfield. It said the landing complied with standard safety procedures and international aviation protocols.