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Senate Speedily Approves Tinubu’s N1.767 trillion Loan Requests

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The Nigerian Senate has given President Bola Tinubu the go-ahead to borrow an additional $2.209 billion (approximately N1.767 trillion) loan he requested to fund N9.7 trillion deficits in the 2024 budget.

The Senate approved the loan request on Thursday after they had carefully considered the report of its Committee on Local & External Debts, Chaired by Senator Aliyu Wammako.

The Deputy President of the Senate , Barau Jubrin who presided on the day commended the Committee for the expeditious work on the President’s request in barely 48 hours.

He said that the Senate committee is satisfied with plans-to secure the loan through the issuance of Eurobonds as well as plans to use the money to complete ongoing projects in the 2024 budget and stabilize the economy on the path of sustainable growth and development.

The Senate approval, however, comes despite strong pushback from notable Civil Society Organizations like Civil Society Legislative Advocacy and CISLAC, who fear the borrowing could undermine Nigeria’s fiscal stability and risk pushing the country into a debt trap.

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Public holidays: FG declares December 25, 26, and January 1

The Minister of Interior, Dr Olubunmi Tunji-Ojo, announced the public holidays on behalf of the Federal Government.

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The Federal Government has declared Thursday, December 25, and Friday, December 26, as well as Thursday, January 1, 2026, as public holidays to mark the Christmas, Boxing Day, and New Year celebrations.

The Minister of Interior, Dr Olubunmi Tunji-Ojo, announced the public holidays on behalf of the Federal Government.

In a statement by the Permanent Secretary in the Federal Ministry of Interior, Dr Magdalene Ajani, the minister extended warm Christmas and New Year felicitations to Christians in Nigeria and across the world.

He extended the same gestures “to all Nigerians as they celebrate the end of the year and the beginning of a new one”.

Tunji-Ojo urged Christians to reflect on the virtues of love, peace, humility, and sacrifice as exemplified by the birth of Jesus Christ, noting that these values are critical to promoting unity, tolerance, and harmony in the nation.

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KWAM1 loses bid to block Awujale selection process

KWAM1 had declared his interest in the vacant Awujale stool, claiming lineage from the Jadiara Royal House of the wider Fusengbuwa Ruling House.

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The Ogun State High Court sitting in Ijebu-Ode has refused to grant popular Fuji musician Wasiu Ayinde, alias KWAM1, an interim injunction aimed at restraining Governor Dapo Abiodun and five others from proceeding with the selection and installation of the next Awujale of Ijebuland.

Ayinde, represented in court by Wahab Shittu (SAN), had on Monday, sought the injunction pending the hearing of his substantive suit challenging the selection process.

But Justice A. A. Omoniyi dismissed the application, holding that the interim injunction lacked merit and that there were no strong grounds to justify its grant.

He subsequently ordered the expedited hearing of the substantive matter, fixing 14 January 2026 for proceedings.

KWAM1 had declared his interest in the vacant Awujale stool, claiming lineage from the Jadiara Royal House of the wider Fusengbuwa Ruling House.

However, the Fusengbuwa ruling house rejected his claim, stating that he is not from the royal house.

To challenge what he perceived as injustice, Ayinde filed a suit against the Fusengbuwa ruling house, Governor Abiodun, the Chairman of Ijebu-Ode Local Government, Dare Alebiosu, and three others

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November Petrol supply rises 55% to 71.5m litres daily

The report revealed that the domestic refineries supply in the period stood at 17.1 million litres per day, while the average daily consumption of PMS for the month was 52.9 million litres per day.

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) November Fact -Sheets indicated that the supply of Premium Motor Spirit (PMS), also known as petrol, increased to 71.5 million litres per day in November 2025 from 46 million litres per day in October. This was an increase of 55 per cent.

In the report released yesterday, the agency said that the nation’s consumption also increased by 44.5 per cent to 52.1 million litres per day in November 2025, compared to the 28.9 million litres in October,. an excess of 37.4 million litres.

It said that the volume supplied came from both the domestic and the international market.

NMDPRA noted that the imports were aimed at building inventory and further guaranteeing supply during the peak demand period.

Other reasons for the increase, according to the NMDPRA, were due to “low supply recorded in September and October 2025, below the national demand threshold; the need for boosting national stock level to meet the peak demand period of end of year festivities and twelve vessels programmed to discharge into October which spilled into November.

The report revealed that the domestic refineries supply in the period stood at 17.1 million litres per day, while the average daily consumption of PMS for the month was 52.9 million litres per day.

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