Headline

2023: Dele Momodu Reveals Paths to Salvage Nigeria

Published

4 years ago

May 1, 2022

Eric

By Eric Elezuo

The quest to occupy the most important office and building in Nigeria’s political life, the Aso Rock Villa, continues to gather momentum as over 40 aspirants have signified interest across the 25 accredited political parties in the country.

In the main opposition party, the Peoples Democratic Party (PDP), 15 out of the 17 aspirants, who invested N40 million to purchase the expression of interest and nomination forms for the presidential primary, have been screened and given a clean bill of health to vie for the party’s ticket later in the month. Two, however, did not meet up with the requirements, and were disqualified, marking the end of their presidential ambition.

In the All Progressives Congress (APC), where the forms are sold for a whopping N100 million, an avalanche of aspirants are jostling for the ticket, and has purchased their forms already. These aspirants are majorly state administrators and players, who are currently occupying one top position or another.

Among the major the major hopefuls for the these all important presidential position is global ambassador and veteran journalist, Aare Dele Momodu, who has made it absolutely clear, and justifiably too, that he remains the best qualified of the presidential aspirants for the 2023 election.

Momodu, whom is one the 15 PDP screened and cleared aspirant, among other intimidating qualifications, has crisscrossed the globe, visiting over 60 countries, and meeting and interacting with the high and mighty, even as a regular citizen.

In a recent interview with Hardcopy, a current affairs programme on Channels TV, Momodu as usual itemised the qualities that stand him out among the rest in the race to replace President Muhammadu Buhari come May 29, 2023.

Debonair Dele Momodu

Below are excerpts:

HARDCOPY: Mr Momodu, you are welcome to Hardcopy

DELE MOMODU: Thank you for inviting me

HARDCOPY In 2010, you ran for presidency, or were set to run for presidency on the platform of the Labour Party, and then you resigned from the Labour Party, and joined the National Conscience Party. You secured the ticket of that party, contested the presidential election, lost. In 2015, you campaigned vigorously for the presidential ambition of Muhammadu Buhari, who is the current president. And in 2022, you are back in the race. What do these many transitions say about your presidential ambition.

DELE MOMODU I came into the race to contest in 2011 because I was tired of complaining. We all complain in Nigeria. In fact, wherever two or three or gathered, they are always talking politics and complaining about all the ills of the society without proffering solutions. I have writing about the problems of Nigeria in over three decades. I have proffered solutions but out leaders never listened. So in 2011, I had to contest on the platform of the Labour Party, but the Labour Party told me very clearly that they were not interested in fielding a presidential candidate, and since what I wanted was presidency, I looked at a party that will be identical in philosophy and ideology to the Labour Party, and I found one in the NCP which had produced Chief Gani Fawehinmi before my time. Of course, I lost. The lesson I learned from that was that it is virtually impossible to win a national election without a national party in spread. You spoke about President Muhammadu Buhari, I was not a member of the All Progressives Congress (APC) when I supported him. We felt that Peoples Democratic Party (PDP) was fumbling and ‘wumbling’, so what do we do? And based on that theory that only two national political parties can compete favourably towards winning the presidency, and since PDP was the one that was fumbling, and APC gave us so much hope at that time, we shifted to supporting APC without being a member of APC. I support people on principle. I support individual candidates. In 2015 when Buhari took power, and I notice the direction he was going, and I saw that that direction could only lead to perdition. I wrote him memos, and on one occasion, he invited me to Aso Rock. I explained what meant, my fears; what my hopes and aspirations were. And I gave him everything I wrote about President Goodluck Jonathan, and I said I was going to be doing the same thing to him. He agreed, and asked me to autograph for, and I signed and left him.

When I discovered that his case has gone beyond redemption, I washed my hands clean like Pontius Pilate, and I moved on. And I apologised to Nigerians publicly. I am tired of career politicians. My research, investigations and consultations have shown clearly that Nigerians have come to a conclusion that politicians cannot change Nigeria for the better, so we must begin now to look for a technocrat. I am a technocrat in politics, and I have a job.

HARDCOPY: Two things have emerged from your response, and one is that you can only pursue an ambition successful on a party that has national spread, and two, your disappointment in the government or in the leader of the government. I have watched you for some time, and I know that you prioritise ideology over any other primordial concern in politics. Now, if you are disappointed in the administration, are you also disappointed in your allies with whom you went on exile in the 90s who remained in the party.

DELE MOMODU: Well, it’s not just about my allies, I believe that wherever you are, your principles must be constant. I am hoping that my people can imbibe that ideology of doing things on principle, and not about expediency. In politicians talk about…I saw one of our governors on your programme the other day then we share. What are you sharing? It is not about sharing. It is not about portfolios. It is about doing the right things for the longsuffering people of Nigeria. These are things politicians are not talking about. What I see are people talking about consensus and zoning. Nobody is talking about the bomb blast of a train. Nobody is talking about the invasion of an airport by bandits. Nobody is talking about soldiers who are being slaughtered…

HARDCOPY: We will get to all of that, but you no longer share the same principles with the likes Bola Ahmed Tinubu, with whom you went on exile in the early 90s. The lines of ideology have become blurred as a result of the ease with which you maneuver from one party to the other. That’s the point.

DELE MOMODU: Yes, that’s why I told you that it is a continuum. We must continue to search for that right candidate. We don’t know if my disagreement with Tinubu today is ideological. It may not be. It may be something much more fundamental. So, don’t let’s jump into conclusions. Of course, for me to be in the opposition means I don’t agree with their party. I believe that by now, more youth friendly people should be coming out. That’s what Nigeria desires. That’s what Nigerians deserves. So, it is nothing personal. Tinubu remains my big brother, my friend. Osinbajo remains my big brother, my friend. But I have fundamental problems with the party, where they are right now, and with their dispositions because in the day of tribulations, the people should be able to run to their leaders, and their leaders must be able to come to their defence and protection.

HARDCOPY: Is your current position borne out of your own selfish presidential ambition

DELE MOMODU: No, not me. Had Buhari performed in 2015, I will still be his supporter. Had Atiku Abubakar won in 2019, and he performed, I won’t be contesting now. It is nothing personal. It is principle. Are you comfortable with the way Nigeria is today: The answer you will get is a resounding no from 95 per cent of Nigerians, except the few, who are taking advantage of the confusion in our political system. I don’t see anybody, who can in good conscience not even a god-fearing man can excuse what is happening in Nigeria today. I believe Nigeria is worse than it was in 1999, not even a few years back. A Nigeria that produced the Awolowos, the Azikiwes, the Tafawa Balewas, the Saduanas of Sokoto, the same Nigeria is now just producing politicians like popcorn. It’s unfortunate.

HARDCOPY: You recently submitted your expression of interest and nomination forms after which you criticised the monetisation of the process, saying that it was a policy of exclusion that did not allow talented Nigerians find expression in the political process. How do you hope to change what you endorse by your own action?

DELE MOMODU: Well, the first thing you must follow in life is the procedure. There is a process, and there is what I call preparation. I have prepared for this journey; that was why you didn’t see me in 2015 and 2019. I was hoping a miracle will happen and things will change, then I won’t have to leave my comfort zone to come and face what I am now going through now. And then, when I joined the party, based on the realisation that you can only win a presidential election on a national platform. I knew I must obey and conform to party rules and regulations. I obeyed first before I complained that 40 million is too much for young people who might want to come in to governance. I made sure I obeyed before I complained because if it is not given to me, I will have no basis to contest in the first instance. I would have automatically disqualified myself. But what must be constant is truth; we must continue to speak truth to power; we must speak truth to ourselves; we must speak truth to our own political party. An average politician will not do that.

HARDCOPY: In relation to the monetisation of the purchase of the forms, we should also talk about how politicians are going about boasting on how they are going give delegates dollars and all of that. That in itself is a threat; are you living in the fear as that is the first leg in getting the ticket

DELE MOMODU: Anyone who knows me knows that I hand over all projects to God. I believe fervently that only God can give you power in the country of 200 million people. And I am also reassured by history, contemporary history of Nigeria that no billionaire has ever succeeded in hijacking the election in Nigeria. The only millionaire who won election is MKO Abiola, and he did it on merit, not because he had money. He was loved because he had been generous to everybody all over Nigeria. But most of the people I see today are not in that league of MKO Abiola. When you see a serving public officer, who has access to billions displaying openly that nobody can beat me, then Nigerians should be worried. I am not afraid because I have won election before against those who had much money than me. My last election in 2011, on the night of our primaries, I sent two copies of Ovation to each rooms of the delegates. That was all I had; silver or gold, I had none.

HARDCOPY: But then that was a party that had no national spread, and which is the requisite capacity required to win an election

Momodu with immediate past president, Dr Goodluck Jonathan

DELE MOMODU: No…but despite that, they had human beings from all over Nigeria. Everything starts small. I am practical. I am not going to tame the PDP delegates. If people bring their money back to you, take it, but vote for the best candidate. If you vote wrong, you will suffer, you will lament, you will complain, you grumble, you will groan, you will moan for the next four to eight years. I’m going to be talking to the delegates just as people are asking me when am I going to talk to the delegates, but not yet. I still have over a month to go. Some say when are you meeting with the BoT, I said don’t worry, I have my strategies. I will use what I have to get what I want. The first thing is to show my capacity in the public domain. There is nobody in PDP today; whether you have been vice president, senate president, or governor who is more popular than Dele Momodu. I am on the street; they are not on the street. The places I go, they can’t go. I went to Maiduguri Market.

HARDCOPY: Isn’t that wishful thinking? Are you riding on ideals or the God factor. When last was a primary election won either without consensus or without the money factor in the country

DELE MOMODU: I have just given you an example that those who were in NCP were Nigerians. I have faith in Nigeria. I have not given up hope on Nigerians. I don’t believe that all Nigerians are buyable, and I have another thesis to give you. And that is even if you succeed in buying all the delegates, you cannot succeed in buying all Nigerians in the general elections.

HARDCOPY: Before your declaration, you had begun to identify with certain high profile members of your current party. Persons, who could be easily identified as political heavyweights. Are you fronting for any of the political heavyweight within the PDP

DELE MOMODU: I am too old, I am too principled to front for anybody. In fact, it is the biggest insult anybody can give me in life to think I went into a race I wasn’t prepared for. Fronting for who? For what? If I needed any appointment, in life, I would have had it in my 30s, 40s, and 50s. I am not fronting for anybody, but you must know that a political party is a platform of saints and sinners if there are saints. If you become president, you will govern over sinners and saints. How you manage people and resources will determine your success or your failure.

Momodu with former President of Ghana, Mr. John Mahama

HARDCOPY: Are you trying to get a foot in the door to eventually settle for a senatorial position or appointment

DELE MOMODU: A Dele Momodu? In fact, I always say it that anybody that contests the presidency and returns to contest for the senate or governorship means that he didn’t think well before you decided to go for presidential race. I have principle. I have a sense of shame. Some people don’t have shame; anything you give them, they take. One, I am not fronting for anybody. Two, I am not looking for position. Three, I am going to contest all the way. That is the whole idea, and I am fully prepared for it, it is not a joke. Nobody pays N40 million for a joke. Do you know how much it cost to run a presidential campaign on a daily basis?

HARDCOPY: And that is the point really. If it took you years to prepare, and get the N40 million. Why didn’t you just prepare all the way so you can also to take care of the delegates which is more realistic than riding on strategy that which won’t appeal to the delegates

DELE MOMODU: Let me tell you something today. There is nothing you can say that would tempt me into bribing delegates even if I have billions today, I will not bribe them. I will not promote corruption. If I say I want a change in my country, then the change must begin with me. There are treasures you must never cross in life. I am not desperate. I have told you I am not looking for a job. Some people will say why don’t you go and become a governor. I say me? No? I want executive power at the federal level because I know that can instantly change Nigeria instantly for the better. The day you have people who have managed their own resources successfully – if I ask you today to name 18 out of 36 governors in Nigeria, even as a journalist, you might not remember. If I asked you what they did for a living before they become governor, I can bet my life, you would not know. So, how can now come to me and say they are better. I am going to sell my accomplishments; I am going to sell my reputation; I am going to sell my global brand to the delegates, and if they accept…oh!

HARDCOPY: And if they did not, which is our last point because we leave your plans of losing or winning. What are your plans if the delegates don’t buy your capacity

DELE MOMODU: I am not God. At that point, you leave to God and to man. If they don’t, nobody should say in the future that Dele did not do it the right way. I want to be able to look at my children, and say your dad didn’t chicken out. I am not a chicken so you are not going to roast me like a chicken,

HARDCOPY: Aspirants in your party have been appearing in groups. Some advocating that the party go the way of consensus, while some are vigorously urging the party to go by way of its tradition, which is zoning. Which of these groups do you belong

Dele Momodu with the spirit of Africa, Chief Mike Adenuga

DELE MOMODU: For me, I am a fresh candidate. I paid for a form to contest for an election and I am concentrating all my attention. If they do zoning, if they say it’s consensus…I don’t see consensus in our constitution. I see zoning in our constitution. Those who say consensus, I believe with due respect to them, it is their right, but sometimes, I find it a bit uncomfortable. If you believe in consensus, why did you buy the form. So the four people going together (Bukola Saraki, Hayatu-Deen, Aminu Tambuwal, Bala Mohammed) so why didn’t they start the consensus from their bedroom. He, who must ask for equity must come with clean hands. Even in law, they say a man cannot be the judge in his own cause. Why are you the one recommending consensus when you are already a participant. So if you really believe in consensus, I expect Saraki to pull out as well as the other people, but you are already a participant; an aspirant.

HARDCOPY: So, you agree that your party did not think things through

DELE MOMODU: That is not my party; it is some people in my party that took it upon themselves

HARDCOPY: Didn’t your party anticipate that some members will advocate for consensus

DELE MOMODU: No, that is not the business of the party. The business of the party is to organise a level playing playing field for everybody. That they have done, and they didn’t ask anybody not to buy form. Those who want consensus bought forms voluntarily. Zoning is the only place where you can talk about the party. And I raised a voice; I speak all the time. When I bought my form, I said why are you talking zoning, why didn’t you take a decision on zoning before selling the form, so that that way, those who had been zoned out will waste their time and resources buying the form. I spoke up. I don’t know about any other person who has said that. But the Saraki group (he speaks for them all the time) – I am worried about out democracy. Democracy is a game of fair contest. The moment you want to go through the back door to smuggle in a particular candidate of interest, I think that’s dangerous to our democracy. Before I believe they are serious about consensus, let them all pull out. You cannot each individually buy form and still be talking about consensus. However, zoning is not okay when you have asked everybody to buy their forms

HARDCOPY: So you will profit from the zoning if they zone it to the south

DELE MOMODU: My dear sister, what if they zone it to the north. Who says they can’t zone it to the north

HARDCOPY: But how many groups within your party are advocating for a zoning to the north

DELE MOMODU: I am happy that we have more southerners in the race because that would further put pressure on my party to look south wards. But don’t forget that you also have some powerful forces from the north, who desperately want it in the north though I would want it to come to the south.

HARDCOPY: Because it would favour you

DELE MOMODU: No, that is why I’m different. I will go for the election whether it is zone to the south or thrown open. I’m ready. You cannot say I am flip flopping. It is a national platform. Today, I am the most favoured in the south because I control two zones by parentage; my father is from south south and my mother is from south west. I know because anybody who wants to run the country must have the capacity to unity the country. Let just go into our election; if you want to support me, support me incognito, and let’s move on.

Headline

Tinubu’s 2026 Budget Bad Omen for Nigerians – PDP

Published

1 day 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

3 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.