National

We’ll Borrow N13trn to Finance Budget Deficit – Wale Edun

Published

1 year ago

December 17, 2024

Eric

The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, announced on Monday that the N13 trillion deficit in the N48 trillion 2025 budget would be financed through borrowing.

The minister said this while briefing State House Correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.
The total projected revenue for 2025 stands at N34.8 trillion, out of which the expenditure is projected at 47.9 trillion, an increase of 36.8 per cent from the 2024 estimate.

The deficit for 2025 is projected at 13.1 trillion, representing 3.89 per cent of GDP.
Edun said the budget was designed within the context of how far and how much progress that have been made under the leadership of President Bola Tinubu, in the last 18 months.

“And even looking at it from an international context, we, like governments around the world, are concerned about how to achieve fiscal sustainability, revenue to expenditure and borrowing that is balanced, to create an environment in which the economy can grow.

“Private sector-led economies such as ours and others, rely on investors to put down their money in various projects, increase productivity, create jobs, grow the economy and in the case of countries such as ours, bring the people out of poverty,” Edun said.

He explained that the Tinubu administration has put in place policies that ensure market pricing of petroleum products, foreign exchange, and efforts had been made to improve the pricing of electricity.

Edun said: “Just recently Shell announced a $5 billion investment, Total announced a multi-billion dollar investment just before that, and there are so many others expressing interest in investing in this country.

“So, progress has been made. There is greater fiscal sustainability and as I said, even the European countries are struggling to achieve some of these critical macroeconomic reforms.

“This budget is based on government spending in critical areas, but also more importantly, encouraging and making room for private sector investment.”
He further stated that the improvements in the economy were encouraging.

“For the first time in about 25 years we have domestic refinement of petrol, not just to produce petrol but also raw materials for industries across a whole range, from pharmaceuticals to building products to textiles,” the minister said.

NAN

National

Nine Senators Announce Defection to ADC

Published

14 hours ago

March 12, 2026

Eric

Nine senators on Thursday announced their defection from their various parties to the African Democratic Congress (ADC).

Five of the senators dumped the Peoples Democratic Party (PDP), three left the Labour Party (LP), and one from the All Progressive Grand Alliance (APGA).

The defectors from PDP are Senators Dauda Yaroe, Lawal Usman, Ogochi Onawe, Aminu Tambuwal and Austin Akubondu.

The LP defectors are Senators Ireti Kingibe, Victor Umeh and Tony Nwoye.

Eight of the senators who dumped the PDP and LP cited leadership crises in their parties for their defection.

However, Senator Eyinnaya Abaribe said he dumped APGA because the party sacked him in September 2025.

National

Police Council Confirms Tunji Disu As Substantive IGP

Published

2 weeks ago

March 2, 2026

Eric

The National Police Council has confirmed Olatunji Disu as the substantive Inspector-General of Police.

His name is now to be sent to the Senate for screening.

President Bola Tinubu appointed Disu as the acting IGP on February 25, 2026, following the resignation of former IGP Kayode Egbetokun.

Tinubu, in a statement by the presidential spokesman, Bayo Onanuga, had said he would convene a meeting of the Nigeria Police Council to formally consider Disu’s appointment as substantive IGP, after which his name would be transmitted to the Senate for confirmation,” he said.

The former AIG assumed office as the acting Inspector-General of Police (IGP) last Wednesday.

Disu, 59, took over the reins as Nigeria’s new police chief at a brief ceremony at the Louis Edet House in Abuja, shortly after President Bola Tinubu decorated him as the acting IGP.

Until his appointment, Disu served as Assistant Inspector-General in charge of the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos.

He was promoted to the rank of Assistant Inspector-General of Police last year.

National

JAMB Warns Against AI-Driven UTME Fraud, Vows Sanctions for Candidates, Parents

Published

2 weeks ago

March 1, 2026

Eric

The Joint Admissions and Matriculation Board (JAMB) has announced tough measures against candidates and parents found culpable in examination malpractice, warning that the era of leniency is over.

Speaking in Abuja on Saturday, the Registrar, Professor Ishaq Oloyede, said the Board was alarmed by recent discoveries of organised fraud networks targeting the Unified Tertiary Matriculation Examination (UTME). He described the trend as a serious assault on merit and fairness within Nigeria’s education system.

Oloyede explained that JAMB had over the years committed substantial financial and technological resources to preserving the credibility of its examinations, stressing that these measures were designed to protect millions of diligent candidates who rely solely on hard work.

Investigations, he disclosed, uncovered criminal groups deploying artificial intelligence tools to impersonate JAMB officials and extort unsuspecting candidates. More troubling, according to him, was the active participation of some candidates and their parents, who knowingly paid for illicit assistance.

“The students and their parents are willing collaborators and cannot be regarded as innocent,” the Registrar said.

He revealed that over 100 candidates were linked to the scheme, with 83 confirmed to have made payments across 25 states, indicating that the malpractice is neither regional nor isolated.
He said the Board had forwarded recommendations to the Minister of Education, including the cancellation of affected registrations.

Oloyede also refuted claims circulating in some quarters that JAMB had increased its registration fees, describing the allegation as false and urging the public to report any centre charging above the approved rate.

As part of immediate corrective steps, several Computer-Based Test centres have been sanctioned, with some suspended from further participation in the examination process.

Dismissing suggestions that the Board should negotiate with offenders, the Registrar maintained that criminal conduct must be addressed through lawful channels.
“Why should we now be negotiating with criminals?” he asked, noting that suspects who left the country after previous examinations would be referred to security agencies for due process.

He emphasised that paying for examination fraud constitutes a criminal offence, warning that ignorance would no longer be accepted as a defence. Membership in online groups offering illegal assistance, he added, could also attract penalties.

Addressing parents directly, Oloyede cautioned that financing malpractice undermines a child’s moral foundation and future prospects. Encouraging shortcuts, he noted, sends a dangerous message that dishonesty is an acceptable path to success.

The Registrar further confirmed that some school proprietors were among those arrested in connection with the fraud.

On JAMB’s capacity to confront increasingly sophisticated schemes, Oloyede expressed confidence in the Board’s upgraded technical systems and its collaboration with national security agencies. He stated that enhanced monitoring mechanisms now enable the detection of prohibited electronic devices during examinations.

He also expressed concern over the involvement of underage candidates in malpractice, attributing the trend partly to parental pressure and complicity.

While reiterating that JAMB’s core mandate is the administration of examinations, Oloyede appealed to the media to support efforts aimed at discouraging malpractice and promoting integrity within the education sector.