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
Fire at Great Nigeria Insurance House in Lagos Island Brought Under Control
The Lagos State Fire and Rescue Service has confirmed that the massive blaze at the 25-storey Great Nigeria Insurance House on Martins Street, Lagos Island, is now under control following intense firefighting efforts overnight.
The fire, which broke out on Christmas Eve around 4:40 p.m. on the fifth floor of the building primarily used for warehousing clothing materials, corporate offices, and retail outlets, rapidly spread due to highly combustible stored goods.
Emergency responders received the distress call at 16:41 hours and arrived on scene by 16:53 hours. Crews from Ebute Elefun, Dolphin, Sari-Iganmu, Bolade, Isolo stations, and Alausa Headquarters were deployed in a coordinated operation.
As of this latest update, the fire’s intensity has been significantly reduced, with firefighters now focused on damping-down operations to extinguish remaining hotspots.
Ten individuals, mostly males, were rescued alive with varying degrees of injuries and are reported to be in stable condition. Operations continue to ensure no further casualties.
The inferno affected five adjoining buildings—two partially and three severely—including the historic old Lagos Central Mosque, which sustained major damage.Challenges hampering the response included poor storage practices of flammable materials, which fueled rapid spread; difficult crowd control and site accessibility; and the conjoined structure of the buildings, complicating containment.
The Lagos State Fire and Rescue Service reiterated its commitment to protecting lives and property, urging the public to remain calm, cooperate with responders, and follow safety guidelines.
Further updates will be provided as the situation evolves.
Crime
VP Shettima Condemns Maiduguri Mosque Bombing, Vows It Won’t Shake Nigeria’s Anti-Terror Resolve
Vice President Kashim Shettima has strongly denounced the suicide bombing at a mosque in Gamboru Market, Maiduguri, Borno State, which killed at least five worshippers and injured dozens more during evening prayers on Christmas Eve.
Describing the incident as a “despicable assault on innocent citizens and the peace of the nation,” Shettima emphasized that such acts of terror will not deter the Federal Government’s determination to eradicate insurgency.
In response to the attack, President Bola Ahmed Tinubu has directed an immediate ramp-up of security operations across Borno State. Additional tactical teams are being deployed to hunt down the perpetrators, with security agencies operating around the clock to ensure swift justice.
“The Federal Government will not tolerate any attempt to undermine the peace and security of our nation,” Shettima stated.
“Our security forces are fully equipped and supported to bring these criminals to account and uncover every detail of this heinous crime.
“The Vice President extended heartfelt condolences to the Borno State government, residents of Maiduguri, and families of the victims, assuring them that the perpetrators will face the full force of the law.
He reaffirmed the Tinubu administration’s ironclad commitment to national security since taking office in 2023, pledging continued resources and backing for security agencies to decisively combat terrorism in all its manifestations.
Shettima noted ongoing collaboration with state and local authorities to bolster protection for vulnerable communities and key infrastructure in the North East and beyond.
The bombing, confirmed by authorities as a likely suicide attack, marks a rare breach of calm in Maiduguri, which had seen no major incidents since 2021.
News
GNI Building Fire: Sanwo-Olu calls for calm
Governor Sanwo-Olu said:“Our priority is the safety of lives. I have directed that the building and its surroundings be thoroughly secured and that emergency personnel must ensure that no one is left inside.
The Lagos State Governor, Mr Babajide Sanwo-Olu, has called for calm following the fire incident that engulfed the 25-storey Great Nigeria Insurance (GNI) Building on Martins Street, Lagos Island, yesterday.
In a press statement this morning , Gbenga Omotoso Commissioner for Information and Strategy, said that the Governor has been personally monitoring the situation since the incident was reported.
He assures residents that the government remains fully on top of the situation and will continue to provide updates as necessary.
Governor Sanwo-Olu said:“Our priority is the safety of lives. I have directed that the building and its surroundings be thoroughly secured and that emergency personnel must ensure that no one is left inside.
” I commend our firefighters and first responders for their swift and courageous response. Lagosians should remain calm; the situation is under control.”
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