Headline

Dele Momodu: Why Nigeria Needs This Fresh Leader

Published

4 years ago

April 23, 2022

Eric

By Olabode Opeseitan

The chequered story of his life will draw tears not only to the eyes of the over 83 million people living in extreme poverty in Nigeria today but also melt the heart of most Nigerians; rich or poor, young or old. It is relatable, poignant and edifying. His story speaks pointedly to every Nigerian who has given up hope either because of the circumstances of their birth or the forlornness of the hopelessness they have found themselves later in life. It is a story that tells you that you may be a rejected stone today, penniless, down and out but could become one of the chief cornerstones tomorrow, not by cutting corners but by building a network of influence and working extra hard to transform your dream into reality.

Dele Momodu with the spirit of Africa, Chief Mike Adenuga

EARLY SHOCK

Bashorun Ayòbámidélé Àbáyòmí Ojútelégàn Àjàní Momodu was born into a peasant family. He struggled through very challenging circumstances to obtain university degrees. As he started working, he started living his dream. He started earning the trust and respect of not only his contemporaries but also the leaders of the society such as Chief Akin Omoboriowo, The Ooni of Ife Oba Okunade Sijuwade Olubuse II, Chief Moshood Abiola, Dr Mike Adenuga Jr., Mr Hakeem Belo-Osagie, and other distinguished personalities. Then, suddenly, fate dealt him a devastating blow in the aftermath of the June 12 1993 Presidential election. This upturned the next couple of his years into a hodgepodge, punctuated by daunting moments, including the inability to fend for his family. That would indeed break any man! Momodu was so desolate that at some point while he was in exile, he contemplated suicide. But today, the same Chief Momodu, for the second time in his life, has offered himself to become the chief servant of Nigeria, the President of the Federal Republic.

Momodu with former President Olusegun Obasanjo

ATTACK BY PESSIMISTS

When he announced his intention to run, some, failing to come to terms with the painful sacrifices he had made for his fatherland in his own way, scoffed at the proposition. Some derisively dismissed his ambition as a pipe dream. They forgot that if George Weah of Liberia, once the world’s best footballer, or Pedro Castillo of Peru, a rural primary school teacher, or James Garfield, known as the poorest man to ever govern as US President, Volodymyr Zelenskyy, a former actor and comedian and now President of Ukraine, or the 36-year old President Gabriel Boric of Chile, a former students union President, did not venture, they would not have become the Presidents of their respective countries. The most instructive was that of businessman and showbiz impresario, Donald Trump, who became American President. Some even asked him to go and start from the grassroots like the Afenifere leaders of yore would have counselled. They forgot that Dele Momodu, egged on by the circumstances of his formative years, had already entrenched himself in the ways of life at the grassroots and understood their nuances and expectations.

Aare and Yeye Aare Momodu with late Chief MKO Abiola

A MISSION LARGER THAN LIFE

Many, however, instantly realized that a Dele Momodu on the ballot on the platform of a major political party like the People’s Democratic Party in 2023 is bigger than the Momodu persona. It will finally settle the score in Nigeria that irrespective of the circumstances of your birth and your station in life, if you work exceptionally hard, chase your dreams and believe in yourself, you can rise to the very pinnacle of any public office in this country. Even without ever holding any elective office or having an iniquitous political Godfather. It will ignite a new wave of the Audacity of Hope. From the son of a bricklayer to the daughter of a palm wine tapper, the children of petty traders and the grandchildren of subsistence farmers, a new seed of hope and self-belief will be planted in a new generation of Nigerians.

Momodu with Vice President Yemi Osinbajo

It will bridge the social divide where Nigeria has been split down the middle between the extremely rich and the extremely poor; where the justice served to the extremely rich is the exact opposite of the injustice dished out in swift succession to the poor; where the impoverished, their children and great grandchildren have no option than to use decrepit educational, health and social infrastructures while the ruling class that engineered the ruin, fly out unabashedly with their children to relish superior amenities in other more organized climes where their own leaders treat their people, rich or poor, with humaneness and dignity.

Momodu with billionaires Aliko Dangote and Femi Otedola

Of all the aspirants who have signified their intentions to run for the highest office in the land, Dele Momodu stood out for the unusual combination of some rarified features. Without ever occupying any political office in Nigeria or elsewhere in the world, Momodu has met with more Nigerian, regional and global leaders than most of the people who have so far indicated their interest to become the next Nigerian President. He is what is called in the Yoruba etymology “Atobatele” (already ordained with the characteristics of royalty). It is a bankable asset that will count at critical moments.

Momodu with Liberian President, George Weah

In the crowded field of Presidential hopefuls, Dele Momodu is one of the very few who feel extremely comfortable in the company of the old and young, rich and poor, peasants and elites. He is not detached from the realities of the excruciating pains of the masses. He is close to them. He talks to them directly every day, either on social media or in-person. He socializes with them. They are part of his daily routine. He knows where the shoe pinches them the most. He knows what he needs to do to flip their despair to joy. No adviser can hoodwink him and tell him all is rosy when people are gnashing their teeth in the pangs and distress of poverty. He has been one of them. He has shared with them from his personal resources to uplift as many as he could.

Momodu with the Esama of Benin, Chief Gabriel Igbinedion

FOR DELE MOMODU, EVERYONE’S HAPPINESS COUNTS

As President, he will judiciously deploy the resources of the state to bring the greatest joy to the greatest number of people. He is a firm believer in the axiom of utilitarianism. He knows that happiness is the only thing that truly has intrinsic value. Those who know Dele Momodu know that he will not partake in anything that will spur unhappiness. He will not approve any action or policy until he is sure it will promote the happiness of Nigerians. Just as he is pushing for the happiness of the masses, he will promote the happiness of the rich. For him, everyone’s happiness counts. He is as close to Aliko Dangote as he is to the vendor who sells his Ovation magazine. He is an ardent believer in the live and let live mantra. If the Dangotes of Nigeria live happily, they will create more wealth and more jobs for the masses. If the masses become buoyant with more disposable income, they will have more resources to patronize the Dangotes or have the opportunity to become more Dangotes. It is a virtuous cycle, a win-win for all. He will lead a government that will provide the enabling environment for all sides of the divide to thrive. There is no zero-sum game in his world view.

Momodu with former Vice President, Chief Alex Ekwueme and wife

SECURITY AS AN IRREDUCIBLE MINIMUM

Momodu with former President of Ghana, Mr. John Mahama

As a social engineer, he knows that nothing thrives in the face of insecurity. For him, guaranteed security is an irreducible minimum for desired and sustainable growth. Also, as a voracious reader, he has read many books on the Art of War and military tactics. He has interacted with many military Generals from General Alani Akinrinade to General Ibrahim Babaginda. He has their ears, and they are ready to avail him of the wisdom of their experiences. On his 60th birthday, former President Ibrahim Babangida, in his tribute to Bashorun Momodu said, “Dele… you have made a lot of impact especially on the young generation of this country. May God continue to bless you. You are an inspiration to journalism in Nigeria…” He understands the importance of strategy and preparation. He knows how to equip and reward our servicemen to motivate them to victory against bandits and terrorists. Over 20 years ago, he was combing the forests of Sierra Leone and later in Liberia, to check on the well-being of our military men. He knows how to work with our best talents in the Military to get results. He is an excellent listener who will encourage his military chiefs on how to bring the best ideas to the table to protect Nigeria against internal and external aggression. He has shown that he is a man of courage who will not hesitate to take the fight to anyone who attempts to sabotage his plan for the great people of Nigeria.

Momodu with former President of South Africa, Jacob Zuma

RESPECT FOR WOMEN

Momodu with former Emir of Kano, Lamido Sanusi Lamido

He treats everyone with dignity and respect. He treasures and respects women. He admires their loyalty. I recall a scenario when his company was staging an event for the Prophetess, Iya Adura, Reverend Esther Ajayi, who would later describe Bashorun Dele Momodu as a national treasure, at Movenpick Hotel, Accra, in 2018. Being a General who will never send his men to war and go to sleep, Dele Momodu was on ground to personally monitor proceedings. The hall was packed, everything was splendid. Amid the euphoria, Bob Dee as we all love to call him, leaned closer and said to me, “You know if not for the women we invited, this hall would not have been full. Many of the men we invited did not show up even after confirmation while almost all the women turned up. They are always loyal. They are always there for us. You can count on them.” One needs no soothsayer to know that a Dele Momodu Presidency will readily concede one third of the slots in his government or more to competent women.

Momodu with Ex-BBN housemate, Erica

HARD WORK

I don’t know how many people of Chief Dele Momodu’s age work as hard as he does. I doubt he sleeps for up to four hours in a day. His work rate has been heightened by the brisk nature of social media where a platform can lose its competitive edge if it misses critical posts. It is the Per Second generation. He is a hands-on leader. Anywhere he is, he monitors social media and responds to issues promptly. Irrespective, he has not allowed that momentum to affect his other responsibilities. He is the grandmaster of multitasking. It tells you of how he will treat his assignment if Nigerians recruit him as our President. Being hardworking has become second nature to Dele Momodu. His brilliance and hard work were what attracted him to Chief MKO Abiola, Dr. Mike Adenuga and a host of others. This was what made him excel in journalism when he was working for Weekend Concord where he was the shining star. He has taken the same philosophy to Ovation International Magazine which has been the Number 1 celebrity magazine in Africa for over two decades. As the CEO of Ovation Media Group, a flourishing media empire, Chief Momodu has shown his dexterity in successfully navigating a business entity.

Momodu with immediate past president, Dr Goodluck Jonathan

CREATIVE INDUSTRY, YOUTH DEVELOPMENT, TOURISM AND DIGITAL TECHNOLOGY

Momodu with late Winnie Mandela

Chief Dele Momodu is a widely travelled man in five continents and over 60 countries and territories. He knows the power of travel and tourism as a major contributor to the global GDP and job creation. Personally, I am thrilled that he will recreate the best of tourism he has seen elsewhere around the world including Dubai, which he helped to turn into a global phenomenon, in Nigeria. While travel and tourism contributed 3.3 million jobs and 4.4% to the Nigerian GDP in 2019, an equivalent of $18.1 billion, the same sector contributed 12% to the Egyptian GDP at the value of $34 billion. Yet, the Nigerian GDP is rated bigger than Egypt with a population double that of its North African counterpart. With the growth in the global travel and tourism sector projected to exceed the pre-pandemic level this year and beyond, Chief Momodu has seen the opportunity for growth in the tourism sector. He has marshalled plans that will stimulate the provision of jobs for millions of Nigerian youths through tourism, the digital economy and the creative industry. Even without any overwhelming government support, the creative energy of Nigerian youths has been unleashed on the world in digital technology and creative economy. While mapping out his strategy, Chief Momodu and his team saw that the digital economy and creative industry have a combined global annual market value of $7.55 trillion. His vision is to ensure that Nigeria gets a substantial bite of the apple by working with all stakeholders, local and international, to create fast, available and affordable internet service that will be devoid of the current disruptions in service delivery. He will also provide training and other levels of support, including renewable energy, that will see Nigerian youths dominating the global digital space in the next decades with many of them becoming legitimate multi billionaire tech entrepreneurs like 40-year-old Tope Awotona, the founder of Calendly valued at over $3 billion.

Momodu with President Muhammadu Buhari

A TRULY DETRIBALISED PATRIOT

Ethnic division among Nigeria’s 215 million people and 371 tribes has never been more pronounced than it is today. It is so bad that virtually every part of the country is calling for balkanization. Only a true patriot, a detribalized personality in its truest form, can steer the ship of state from imminent breakup if utmost care is not taken. Chief Momodu is one of the most detribalized Nigerians you can meet. East, North, South or West, he feels at home in any part of the country and relates with everyone equitably, across party lines. He will be fair in appointments, contract awards, geo-economic developments and equitable distribution of Nigeria’s resources. Shoddiness rankles him to his bone marrow. Merits and meritocracy are embedded in his DNA. Yet, he believes in collaboration, encouragement, skill acquisition and skill development to drive anyone or group lagging to the level where all can contribute effectively to building a developed, peaceful and united nation we can all be proud of. His relationship with Nigeria’s sub-nationals is symbiotic. Dele Momodu loves everyone, and everyone loves him reciprocally.

Momodu with Chief Ademola Adeleke

LOYALTY

One of the most endearing qualities of Dele Momodu is his loyalty to people. He accords those who come across him with respect. He humbles himself and remains loyal to people whether dead or alive. Up till tomorrow, he celebrates the virtues of MKO Abiola. He is not a fair-weather friend. He is dependable, reliable and consistent. When I was working for one of Africa’s richest men, Dr. Mike Adenuga, several times, the Guru as we called him then would ask me, “Bode, how do I show gratitude to Dele who is always there for me without asking me for a kobo?” We would then strategize on what to do before the Chairman’s Office would reach out to him directly or through me.

FAMILY MAN

The Momodus

One thing Dele Momodu prioritizes in everything he does is his family. He made up his mind that he would send his children to the best schools in the world, and he did. While he was on this mission, he cut his coat according to his size. He could not embark on other personal development projects until he sorted his family out first. He is happily married to Mobolaji Momodu, a Chartered accountant as well as a woman of faith he proudly calls his Prayer Warrior. Blajo, as close associates call Bob Dee’s wife, is as meek as the Dove. She is gentle, pleasant and resourceful. She loves children and would do anything to support the system and ensure that all the 10 million out-of-school children in Nigeria return to school in dignity so that they can be groomed to become the pillar that will hold the future of Nigeria and accelerate its growth.

Debonair Dele Momodu

WHAT WORLD LEADERS THINK OF DELE MOMODU

How do world leaders see Bashorun Dele Momodu? I will paraphrase some of their remarks.

HE, John Dramani Mahama, former President of the Republic of Ghana: “I call him Dele Momodu of Africa because his activities truly transcend the continent and reach every part of the globe. The first quality you want in a friend is loyalty. And I can say well and truly that you cannot have a more loyal friend than Dele.”

With former Cross River State governor, Donald Duke and Dangote

Chairman, UBA Group, Tony Elumelu: “Through Dele Momodu, we have seen that the pen is actually mightier than the sword.”

Momodu with UBA chairman, Tony Elumelu and John Mahama

Chairman of THISDAY Media Group and Arise News Channel, Nduka Obaigbena: “If we are to pay tribute (to Dele Momodu), we can write very many pages. But one of the more important ones is his time with MKO Abiola, the man who could have been President of Nigeria. Dele Momodu is a great Nigerian Original and today, we celebrate his good health, tenacity, never say die spirit, his mastery of the literary art, his mastery of politics, his mastery of the African continent and in making sure that as a nation, the best of us is ahead of us.”

Momodu with former military president, Ibrahim Babangida

Billionaire businessman, Olufemi Otedola: “Your success in spite of the vicissitudes of life as a human being, is a manifestation of the hand of GOD in your life.”

Momodu and Otedola shares a light mood

Iconic

Momodu with rapper, MI Abaga

businesswoman, Bola Shagaya: “I recall my association with you over very many years with great pleasure, which has afforded me a ring-side experience of your noble heart, illustrious hands, high intellect and patriotic zeal. Worthy of mention is your dependability, a trait everyone privileged to be your associate will gladly attest to.”

Former Senate President, Bukola Saraki: “You have been committed to a quest for social justice in Nigeria and for the establishment of systems and institutions that protect the rights and civil liberties of the Nigerian citizens at all times and in all circumstances.”

Momodu with former Vice President, Atiku Abubakar

REINCARNATION OF HOPE

Bashorun Dele Momodu has fittingly themed his campaign for the 2023 Presidential election as HOPE 2023; A NIGERIA FOR ALL. I believe him. Hope is such a powerful tool of mobilization. It galvanizes people to hold on to something meaningful and believe that a better tomorrow is possible. He will do all in his power to make Nigeria work for all. He is my friend, big brother, senior colleague and confidant. I wish him the very best in this journey.

Momodu with late HID Awolowo

As President, Nigeria stands to gain so much from this African icon…

EDUCATION & HONOURS

B.A Yoruba, University of Ife, 1982

M.A Literature in English, 1989

PhD (Honoris causa) Houdegbe North American University, Cotonou, 2006

Momodu with late Gani Fawehinmi, Shina Peters and late Alex Akinyele

Doctor of Humane Letters (honoris causa), University of Professional Studies Accra, Ghana, 2016.

Hon. Fellow African Public Relations Association APRA, 2019

Fellow, The African Studies Center, University of Oxford 2019/2020

The Kiazolu of The Grand Cape Mount County, Liberia, 2008…

Over 200 global awards

Recipient of five Chieftaincy titles in South West and South East Nigeria

Momodu with Asiwaju Bola Tinubu in London

BACKGROUND & PEDIGREE

Chief Dele Momodu, born on May 16, 1960, in the ancient town of Ile-Ife, Nigeria, is an exceptional African Journalist; he is a Publisher, polemicist, businessman, philanthropist, actor, politician and motivational speaker. He is the CEO and Publisher of Ovation International, a magazine that has given publicity to people from all over the world in over 60 countries. He is the Chairman of the Ovation Media Group, comprising Ovation International magazine, Ovation Television and The Boss newspaper. His media empire leads the charge in changing the negative perception of Africa as a dark continent of vampires. He is one of the most prolific essayists in Africa and he has authored and published several books in his name. He is one of the biggest voices on the African social media platforms and his Twitter account is already 1.7 million followers and growing.

The Momodus with Pastor Chris Okotie

Concerned by the perennial disruptions of academic calendars, health care delivery, and lapsing fuel queues, Chief Dele Momodu, has been reaching out to key players in different sectors of the economy such as ASUU, PENGASSAN, NMA, etc, seeking dialogue to articulate lasting solutions to the problems plaguing our country.

Momodu with late Pastor TB Joshua

Chief Dele Momodu does not have any case of financial misappropriation of public funds hanging over his head like the sword of Damocles. He has lived a modest and humble life.

With Kaduna State governor, Nasir el-Rufai

Chief Dele Momodu has admonished that the PDP Presidential ticket and the Nigerian Presidency must not be for mediocre, poorly educated political jobbers or highest bidders. He believes the President of Nigeria should and must be able to stand shoulder-to-shoulder with any President or head of government all over the world and be able to hold his ground, without any form of intimidation or low self-esteem.

Momodu with Tuface and Annie Idibia

If the PDP decides to give its Presidential ticket to Chief Dele Momodu at the party’s convention in May, the surprise element and his popularity among the people will bolster PDP’s chance of winning the general polls in 2023.

Momodu with sin, Eniafe and friend

Olabode Opeseitan is a business developer, digital business strategist and integrated Marketing Communications consultant

Headline

Tinubu’s 2026 Budget Bad Omen for Nigerians – PDP

Published

21 hours ago

December 21, 2025

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

Headline

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

Published

2 days ago

December 20, 2025

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.

Headline

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

Published

2 days 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.