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BREAKING: Reps pass amended 2024 budget of N35.055trn

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The House of Representatives recently made significant legislative strides concerning Nigeria’s fiscal and labor policies. Here’s a breakdown of the key developments:

  1. 2024 Appropriation Bill:
  • The House passed a bill to increase the 2024 Appropriation from N28.7 trillion to N35.055 trillion. This adjustment was made during the consideration and adoption of Clauses 1 to 13, based on the recommendation of the House Committee on Appropriation.
  • The breakdown of the proposed budget includes:
    • N1,742,786,788,150 for Statutory Transfers
    • N8,270,960,606,831 for Debt Service
    • N11,268,513,380,853 for Recurrent Expenditure
    • N13,773,275,994,384 for Capital Expenditure (Development Fund)
  1. Highlights of the Budget:
  • The budget aims to support critical infrastructure projects across Nigeria, including road and rail developments such as the Lagos-Calabar and Sokoto-Badagry road projects, as well as various rail lines.
  • It’s termed as a “budget of renewed hope” with a focus on funding legacy projects that are crucial for national development.
  1. National Minimum Wage Amendment:
  • The House also passed a bill to amend the National Minimum Wage Act 2019, proposing to increase the minimum wage from N30,000 to N70,000. This amendment also seeks to reduce the review period from five to three years.
  • The rationale behind the amendment is to address the rising cost of living and ensure that the minimum wage remains adequate for workers across Nigeria.
  1. Legislative Process:
  • Both bills passed through Third Reading after thorough consideration and debate in the House, indicating a significant step towards implementing key fiscal and labor reforms.

These legislative actions reflect the House of Representatives’ commitment to addressing economic challenges and supporting infrastructure development while ensuring the welfare of Nigerian workers through appropriate wage policies.

News

Tinubu Insists New Tax Reforms Will Proceed on January 1, 2026, Despite Public Debate

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President Bola Ahmed Tinubu affirmed on Tuesday that Nigeria’s newly enacted tax laws would commence as scheduled on January 1, 2026, dismissing calls for delays amid ongoing controversies.

In a State House press statement personally signed by the President, he declared that the reforms—including provisions already in effect since June 26, 2025, and the remaining acts set for the new year—would continue without disruption.

Tinubu described the measures as a “once-in-a-generation opportunity” to establish a fair, competitive, and robust fiscal foundation for the country. He emphasized that the laws were not intended to increase tax burdens but to facilitate a structural reset, promote harmonization, protect citizens’ dignity, and strengthen the social contract between government and the people.

The President urged stakeholders to support the implementation phase, now in its delivery stage, while acknowledging public discourse over alleged alterations to certain provisions.

He stated that no substantial issues had been identified to justify halting the process, adding that trust in governance is earned through consistent, principled decisions rather than reactive changes.

Reaffirming his administration’s commitment to due process and the integrity of enacted legislation, Tinubu pledged collaboration with the National Assembly to promptly address any legitimate concerns.

He assured Nigerians that the Federal Government would always prioritize the public interest, delivering a tax system that fosters prosperity, fairness, and shared responsibility.

The statement came amid debates surrounding the four tax reform acts signed into law earlier in 2025, with two already operational and the others poised to take effect in the new year.

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Shocks as Enugu monarch dies a day before 90th birthday

The Preparations for the grand celebrations, scheduled for Wednesday, December 31, 2025, were already underway, with billboards announcing the monarch’s milestone birthday hoisted across the community.

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•HRH Igwe PD Uzochukwu (Ezudo I of Mgbidi).

The people of Ezineze Mgbidi Autonomous Community in Awgu Local Government Area of Enugu State, have been thrown into mourning following the sudden death of their traditional ruler, HRH Igwe PD Uzochukwu (Ezudo I of Mgbidi). This was just 24 hours before his 90th birthday and 38th coronation anniversary.

The Preparations for the grand celebrations, scheduled for Wednesday, December 31, 2025, were already underway, with billboards announcing the monarch’s milestone birthday hoisted across the community.

Many subjects had returned home in anticipation of the event when news broke that the Igwe had been rushed to a hospital due to a health complication.

The monarch passed away in a private hospital in Enugu metropolis, leaving his family and subjects devastated.

His son, Prince Emeka Uzochukwu, confirmed the death ,saying that the palace never expected the monarch’s demise.

Igwe Uzochukwu, who ascended the throne 38 years ago, succeeded Chief G. I. Oko and oversaw the division of Mgbidi into two autonomous communities – Ezineze Mgbidi and Ezineri Communities.

He explained that Igwe Uzochukwu had gone for a routine medical checkup to ensure he was fit for the celebrations before his health suddenly deteriorated.

“Being with him at the hospital before he passed, it was difficult to accept that the Igwe was truly gone,” Prince Emeka said. In a show of respect, community members observed a minute of silence during a town hall meeting at Central School Mgbidi.

Theophilus Nzeh, Esq, President General of Mgbidi Central Union, described the death as a monumental loss to the two autonomous communities in Mgbidi.

Igwe Uzochukwu, who ascended the throne 38 years ago, succeeded Chief G. I. Oko and oversaw the division of Mgbidi into two autonomous communities – Ezineze Mgbidi and Ezineri Communities.

He will be remembered for his leadership, vision, and contributions to the development of his people.

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Crime

UPDATE: Court Remands Former AGF Abubakar Malami, Son, and Associate in Kuje Prison Over Money Laundering Charges

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A Federal High Court in Abuja has ordered the remand of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), his son Abdulaziz Malami, and an associate, Hajia Bashir Asabe, at the Kuje Correctional Centre pending the hearing of their bail applications on January 2, 2026.

The defendants were arraigned on Tuesday before Justice Emeka Nwite on a 16-count charge of alleged money laundering filed by the Economic and Financial Crimes Commission (EFCC). All three pleaded not guilty to the charges, which involve conspiracy to conceal, retain, and disguise proceeds of unlawful activities amounting to billions of naira.

The alleged offences, said to have occurred between 2015 and 2025, include using corporate entities and bank accounts to launder funds, retaining large sums of cash as collateral for loans, and acquiring high-value properties in Abuja, Kano, Kebbi, and other locations.

Some of the acts are alleged to have taken place during Malami’s tenure as Nigeria’s chief law officer, contravening the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.

Specific counts include the concealment of over ₦1.014 billion in a Sterling Bank account through Metropolitan Auto Tech Limited between July 2022 and June 2025, and the use of illicit funds to purchase luxury properties in Abuja districts such as Maitama and Asokoro.

Following the not-guilty pleas, defence counsel Joseph Daudu (SAN) made an oral application for bail. However, EFCC prosecutor Ekele Iheanacho (SAN) opposed it, noting that a written bail application had been served on the prosecution late the previous night and requesting time to respond.

Justice Nwite ruled that pursuing both oral and written applications simultaneously would undermine fair hearing principles and potentially “ambush” the prosecution.

He declined the oral request and adjourned the matter to January 2, 2026, for the formal bail hearing, ordering the defendants’ remand in Kuje Correctional Centre in the interim.

Malami had been in EFCC custody since early December following investigations into the allegations.

The case marks a significant development in the anti-graft agency’s probe into suspected financial irregularities linked to the former minister.

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