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.
Crime
BREAKING: Court Grants Bail to Ex-AGF Malami and Family in Money Laundering Case
Justice Emeka Nwite of the Federal High Court in Abuja has hinted that there are attempts by lawyers and litigants to influence the money laundering trial of former Attorney General Abubakar Malami scheduled to begin on 17 February.
The judge stated this after granting Malami, his son Abdulaziz, and wife Bashir Asabe, bail in the sum of N500million each.
In a stern warning shortly after delivering the ruling granting Malami and others bail, Justice Nwite said he would not take lightly any lawyer or litigant intent on ‘approaching’ him to influence the case.
He advised parties, to instead, engage the services of quality lawyers to help with their case. He threatens serious consequences for anyone who flouts his directive.
On the terms of bail for Malami and his co-defendants, the trial judge ordered that they present two sureties each who must be owners of properties, with proof, in either Maitama, Gwarimpa or Asokoro.
The defendants are also ordered to deposit their passports with the court registry, adding that travel out of the country must be by the express permission of the court.
Malami and his co-defendants will, meanwhile, remain in prison until they perfect the terms of bail. The trial is scheduled to begin on 17 February.
International
Trump Announces Venezuela to Turn Over Up to 50 Million Barrels of Oil to United States
U.S. President Donald Trump announced on Tuesday that interim authorities in Venezuela will turn over between 30 and 50 million barrels of high-quality sanctioned oil to the United States, following the recent U.S. military operation that removed Venezuelan leader Nicolás Maduro from power.
In a post on Truth Social, Trump stated: “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 Million Barrels of High Quality, Sanctioned Oil, to the United States of America.
This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!
“The president added that he has directed Energy Secretary Chris Wright to execute the plan immediately, with the oil to be transported via storage ships directly to U.S. unloading docks.
The announcement comes amid ongoing developments in Venezuela, where the oil—previously held in storage due to U.S. sanctions—is estimated to be worth up to $2.8 billion at current market prices around $56 per barrel.
Analysts note that this volume represents a modest addition to global supply but could divert exports previously destined for China.U.S. crude futures dipped slightly following the news, closing lower by about 1.3%. Major U.S. oil companies, including Chevron, ExxonMobil, and ConocoPhillips, are reportedly monitoring the situation, with meetings planned between industry representatives and the administration to discuss future investments in Venezuela’s vast oil reserves.
The deal marks a significant step in Trump’s stated goal of revitalizing Venezuela’s oil sector, which holds the world’s largest proven reserves but has seen production decline sharply in recent years due to sanctions, underinvestment, and mismanagement.
News
NiMet Forecasts Three Days of Haze and Sunshine Across Nigeria
The Nigerian Meteorological Agency (NiMet) has predicted a mix of hazy and sunny conditions across most parts of the country from Wednesday, January 8, to Friday, January 10, 2026.
In its weather outlook released on Tuesday in Abuja, NiMet stated that the northern region will experience sunny and hazy skies throughout the three-day period. By Friday, morning haze is expected to give way to dust haze in the afternoon and evening hours over parts of the North.
The central region is forecasted to remain predominantly hazy with sunny intervals during the period.
For the southern region, cloudy skies with intervals of sunshine are anticipated, along with chances of isolated thunderstorms. On Wednesday, thunderstorms may occur later in the day over parts of Ondo, Ogun, Imo, Delta, Cross River, Akwa Ibom, Rivers, and Bayelsa states. Similar isolated thunderstorms with light rains are possible over coastal and inland southern states on subsequent days, including Anambra, Imo, Abia, Edo, Bayelsa, Rivers, Akwa Ibom, and Cross River.
NiMet warned that dust particles are currently in suspension, particularly in the northern areas, advising individuals with asthma and other respiratory issues to take necessary precautions.
The agency also urged motorists to drive cautiously during any rainfall and recommended that airline operators obtain updated airport-specific weather reports from NiMet for safe flight planning.
Residents are encouraged to stay informed by visiting NiMet’s official website at www.nimet.gov.ng for regular updates.
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