News
N54.2 trillion budget: Peter Obi questions Tinubu govt on transparency, accountability
Presidential candidate of the Labour Party, LP, Mr Peter Obi, says there is no corresponding breakdown of expenditures to justify the increase in the 2025 national budget.
The statement comes after President Bola Tinubu, on Thursday, increased the appropriation bill for the 2025 fiscal year from N49.7 trillion to N54.2 trillion.
Recall that Tinubu announced the increment in separate letters, which he forwarded to both the Senate and the House of Representatives.
Reacting to the development, Obi said that Nigerians need to know how the resources generated are being allocated for the sake of transparency and accountability.
This, he said, was to ensure that they were judiciously spent on the country’s development and the well-being of the people.
In a statement issued on Friday via his X handle, the former Anambra state Governor said Nigerians were still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget passed in December 2023.
Obi further called on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget.
He said: “Yesterday, I read about the increase in the Budget of Restoration to N54 trillion due to increased revenue.“
While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase.
For transparency and accountability sake Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people.
“Such expenditures should be directed toward critical areas of development; education, healthcare, security, and poverty alleviation.“
Furthermore, Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget passed in December 2023 to ensure that it has been properly utilized for the country’s future development and the well-being of its citizens.
“I call on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.
“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people.
We owe it to ourselves, our children, and the future of our great nation.
News
Tinubu Insists New Tax Reforms Will Proceed on January 1, 2026, Despite Public Debate
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.
News
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.
•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.
Crime
UPDATE: Court Remands Former AGF Abubakar Malami, Son, and Associate in Kuje Prison Over Money Laundering Charges
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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