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Economy to Expand as Tinubu signs N54.99trn 2025 bill into law

The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.

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President Bola Tinubu on Friday signed the N54.99 trillion appropriation into law.

Signing a country’s budget has significant impacts on the economy, governance, and citizens.

Here are some of the key effects:

Economic Impacts

1. Allocation of Resources: The budget allocates resources to various sectors, such as healthcare, education, infrastructure, and defense.

2. Fiscal Policy: The budget implements fiscal policy, influencing the overall level of economic activity, employment, and inflation.

3. Investment and Growth: A well-structured budget can attract investments, stimulate economic growth, and improve living standards.

4. Debt Management: The budget outlines debt management strategies, affecting the country’s credit rating and borrowing costs.

The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of the leadership of the National Assembly and other senior government officials.

The budget was passed by both chambers of the National Assembly on Thursday, February 13, after lawmakers increased it from the initial ₦49.7 trillion submitted by the President.

The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.

The 2025 Budget breakdowns:

Total Expenditure: ₦54.99 trillion Statutory Transfers: ₦3.65 trillion Recurrent (Non-Debt) Expenditure: ₦13.64 trillion Capital Expenditure: ₦23.96 trillion. Debt Servicing: ₦14.32 trillion.Deficit-to-GDP Ratio: 1.52%.

This budget marks a significant fiscal expansion, with increased allocations for capital projects and debt servicing.

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NMMA shortlist 972 entries for 2026 awards

NMMA was founded by a former Chairman of Daily Times, the late Alhaji Babatunde Jose, who led the organisation for 10 years.

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The Nigerian Media Merit Award (NMMA) said that it has shortlisted 972 of 1,112 entries for this year’s awards.

The Chairman of the NMMA Panel of Assessors, Otunba Dele Adetiba, said that the entries for the 34th edition cut across print, radio, and television categories.

Chairman of the NMMA Board of Trustees, Prof. Dayo Duyile, said that the award was established in 1990 to promote professionalism, ethical journalism and excellence among media practitioners.

Duyile, a veteran journalist and academic, said the NMMA was founded by a former Chairman of Daily Times, the late Alhaji Babatunde Jose, who led the organisation for 10 years.

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Nigerian Law school student dies after falling from hostel rooftop

The deceased was a student of the Nigerian Law School, Enugu campus, who was undergoing externship programme at the Lagos campus.

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•Faith Alayande

A Nigerian Law School student identified as Faith Alayande, is dead after she fell from the rooftop at Lagos campus.

In a statement on Monday, Aderonke Osho, secretary to the council and director of administration, said that the deceased was a student of the Nigerian Law School, Enugu campus, who was undergoing externship programme at the Lagos campus.

Osho said preliminary findings revealed that the student died from injuries sustained after falling from the rooftop of the campus hostel around 4am on Friday.

The Nigerian Law School is deeply saddened by this tragic development.

“Management is working closely with the appropriate authorities and the family to establish the circumstances surrounding the incident, ensure that all necessary procedures are duly followed, and provide further information as appropriate.”

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Ekwulobia Suspends New Yam Festival for Kidnap Billionaire Son

A source from the community said the traditional ruler of Ekwulobia where Ezeokafor hails from, His Royal Majesty, Igwe (Engr) Emmanuel Chukwukadibia Onyeneke, officially suspended the Ekwulobia New Yam Festival, saying there was no need to celebrate while their son remained in captivity.

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• Joseph Ezeokafor

Ekwulobia community in Aguata Local Government Area of Anambra State has cancelled its New Yam festival celebration billed for September 4, 2026.

Ohibaba.com learned that this is because of the kidnap of billionaire businessman and owner of Jezco Group of Companies, Chief Joseph Ezeokafor.

Ezeokafor was kidnapped in Awka on Tuesday last week when he stepped out of his house without his security details to attend to his spiritual need, where he goes to offer prays.

Public Relations Officer of Anambra State Police Command, SP Tochukwu Ikenga who confirmed the development said that serious operation is currently ongoing to save the elder statesman.

His kidnap has sent his community into mourning, causing the postponement of the new Yam festival, an annual festival which holds on a static date every year.

A source from the community said the traditional ruler of Ekwulobia where Ezeokafor hails from, His Royal Majesty, Igwe (Engr) Emmanuel Chukwukadibia Onyeneke, officially suspended the Ekwulobia New Yam Festival, saying there was no need to celebrate while their son remained in captivity.

“The Igwe said the community of Ekwulobia cannot celebrate while their son remains in the custody of the kidnappers,” the source said.

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