News
BREAKING: Reps pass amended 2024 budget of N35.055trn
The House of Representatives recently made significant legislative strides concerning Nigeria’s fiscal and labor policies. Here’s a breakdown of the key developments:
- 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)
- 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.
- 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.
- 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
Nigeria Police Unveils New IGP Portrait
The Nigeria Police Force has recently unveiled the official portrait of the new Inspector-General of Police (IGP), Olatunji Rilwan Disu (also referred to as Tunji Disu).
This follows his appointment as Acting IGP on February 24, 2026, after the resignation of the previous IGP, Kayode Egbetokun (who cited family reasons).
The Nigeria Police Council unanimously confirmed and endorsed Disu as the substantive IGP on March 2, 2026, during a meeting chaired by President Bola Tinubu. His formal swearing-in is scheduled for Wednesday, March 4, 2026.
The portrait was released on March 3, 2026, by the Force Public Relations Officer, Benjamin Hundeyin, via official channels (including X/Twitter and the Nigeria Police Force’s social media).
It depicts Disu in full police uniform and is set to be displayed at key police formations nationwide as part of the formal recognition of his leadership role as the 23rd indigenous IGP.
Disu, born April 13, 1966 (age 59), hails from Lagos Island and joined the Nigeria Police Force in 1992. He has a background in public administration, forensic investigation, criminology, security studies, and more.
Prior roles include heading the Special Protection Unit and Force CID Annex in Lagos, and he previously served as Aide-de-Camp to then-Lagos Governor Bola Tinubu (during which time Egbetokun was also in the governor’s security detail).
This marks a leadership transition amid ongoing security challenges in Nigeria, with congratulations and discussions already circulating on social media and news outlets.
News
BRT Bursts into Flame on Mile-12 Bridge in Lagos
Passengers quickly evacuated the vehicle and moved to safety following the outbreak of the fire.
Passengers narrowly escaped death on Tuesday when a moving Bus Rapid Transit (BRT) bus caught fire on the Mile-12 Bridge along Ikorodu Road, Lagos.
Eyewitnesses reported that the high-capacity bus burst into flames mid-morning while in transit.
Passengers quickly evacuated the vehicle and moved to safety following the outbreak of the fire.
The Lagos State Fire and Rescue Service, working alongside other emergency responders, promptly extinguished the blaze.
The burnt bus was later removed from the bridge to prevent disruption to traffic flow.
The burnt bus was later removed from the bridge to prevent disruption to traffic flow.
Fortunately, there were no casualties reported from the incident.
News
President Tinubu nominates Oyedele as Minister of State for Finance
Before President Tinubu nominated him as a minister, Oyedele(from Ikaram, Akoko, Ondo State), was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.
Taiwo Oyedele and President Tinubu. Credit: State House Photo
President Bola Ahmed Tinubu has nominated Mr Taiwo Oyedele as the minister of state for finance, replacing Dr Doris Anite-Uzoka.
Anite-Uzoka will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration. President Tinubu has today conveyed the nomination of Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.
Before President Tinubu nominated him as a minister, Oyedele(from Ikaram, Akoko, Ondo State), was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.
Oyedele, 50, is an economist, accountant and public policy expert.
He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance.
He attended Oxford Brookes University and earned a BSc in applied accounting.
He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
Oyedele spent 22 years of his working career at PwC, joined in 2001 and rose to become the Fiscal Policy Partner and Africa Tax Leader.
Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.
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