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NNPCL Says Dangote, PH refineries, others won’t change fuel price

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The Nigerian National Petroleum Company Limited has said that the local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity.

NNPCL’s Group Chief Executive Officer, Mele Kyari, who disclosed this during an interview on Arise television in Abuja on Thursday, stressed that the notion that petrol prices would reduce once the country starts domestic production was false.

Kyari confirmed that the Dangote Refinery, which was inaugurated on May 22, 2023, by former President Muhammadu Buhari, would start pushing out products by the end of July and early August.

He also stated that the Port Harcourt Refinery would be delivered by the end of the year, adding that the facility was expected to further boost local production of petrol.

But Kyari declared that despite the volume of petrol being expected from these facilities, the cost of the commodity would not reduce, regardless of the fact that the product was produced locally.

“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.

“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” Kyari stated.

Fuel queues

Speaking on when the fuel queues being witnessed across the country would clear, during another interview on Channels TV, the NNPCL  boss said the queues would not exceed Saturday.

“I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. We have supplies. The key trouble with the PMS system is supply, but I have supplies.

“There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground,” he stated.

He validated the PMS pricing document for various states that trended on Wednesday on the internet, stating that the document was from the NNPCL.

“You have seen a document in the space out there. Every company does this. It is a marketing document. It was not a price announcing document, every company keeps this record and adjusts it appropriately on the basis of changing conditions in the market.

 “So what you saw was just an internal company document that found its way into the internet. It is an NNPC document but it was not intended to be an announcement and is not an announcement, because it can change the next day,” Kyari stated.

On whether there was enough product in-country, he said, “Today I have 1.8 billion litres of PMS and that means that if we don’t do anything, I’ll have sufficient fuel for the next 30 days in my hands.

Kyari explained that the company had over 800 million litres of petrol on land, stored in filling stations, tank farms and depots, while its total stock for both marine and land stood at about 1.8 billion litres.

“But, of course, the way we supply is not this way, so we maintain this level of supply consistently. That means you will see the arrival of products every day so that you continue to maintain that level of safety.”

‘Subsidy not realistic’

Speaking to journalists after a meeting with the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, at the party secretariat in Abuja on Thursday, Kyari revealed that the administration of President Bola Tinubu had concluded arrangements to have one of the four refineries repaired and operating at an optimal level before the end of the year.

The NNPCL boss argued that it was no longer justifiable to continue subsidising the commodity given the high opportunity cost the Federal Government was suffering from funding it.

Kyari, who was received by the APC chairman and members of the National Working Committee at about 12.30 pm, confessed that the country could no longer sustain the expensive subsidy regime.

According to him, over 38 per cent of the total fuel distributed in the country was consumed by Lagos, Abuja, Kano and Rivers.

Kyari explained that following the hike in pump price and the resultant effect on commercial fare, the president was working out some palliative measures to ease the pains of Nigerians.

He also added that there was an ongoing process of rehabilitation to ensure one of the refineries was ready this year.

Kyari lamented that despite its N2.8tn indebtedness to the NNPCL, the Federal Government had yet to release funds for 2022 and 2023 subsidies.

He said, “There was a subsidy in 2022 but in 2023, not a single naira was provided for the purpose. And ultimately while we held back our fiscal obligations, we still have a net balance of over N2.8tn that the federation should have given back to the NNPC.

‘’For any company, when you have negative N2.8tn, there is no company in the whole of Africa that will lend to you. You cannot have receivables. The provision of subsidy is there but absolutely there is no funding for it. It means it is only on paper. It doesn’t exist.

“We can no longer bear it. If we continue, we will run into defaults and the default of NNPC is the default of Nigeria. Once NNPC goes into default and liquidity, it affects every borrowing done by the country, even the sub-nationals. Your lenders will come back to you and say your country can no longer pay.

‘’The only way you can stop this is to stop this conversation around subsidy. It is why Mr President announced that the subsidy is gone. In 24 hours, the bond market appreciated. It is nothing else other than the statement around subsidy and balancing of the apex market. These two elements are a major concern for every investor all over the world. Every partner that we have is worried about.’’

Inflation expected

Kyari acknowledged that the price increase would trigger inflation, noting that the market forces would determine what happens subsequently.

He noted, “Before today, the average subsidy level was N400bn every month. There is nothing anybody can do about it. There is this common argument that the masses will suffer. I agree that once you increase prices of this proportion, as it has happened, it will have an impact on inflation. There is no doubt about it. The market determines what happens next. Even inflation in many countries goes up when you have economic indices become difficult.

“Mr President’s target is to have seven per cent growth of GDP. You cannot have it if you have this disruption in your demands and consumption pattern. Very many of us here have at least two cars in our houses including myself. When you buy fuel of 100 litres in an SUV, you are literally subsidising three litres with N100  for all of us.

‘’Even the consumption itself is clearly skewed in locations and states where the level of economic activities are higher than the others. It is very understandable and that is why people can afford it in Abuja, Lagos, Port Harcourt, and Kano. So over 38 per cent of the total fuel distributed in this country ends up in these places. All the other parts of the country suffer for it and you can see the relativity.’’

Kyari submitted that the price at which petrol was being sold now is the current market price of the commodity.

‘’The price you are seeing today at our stations is the current market price of the commodity and what this means is that prices in the market can go down at any time and the market will adjust itself. The beauty of this is that there will be a new entrance because oil marketing companies now will want to invest, they have been reluctant to come in because of the subsidy,’’ he stated.

With the latest development, the NNPCL chief said the market would regulate itself, adding that oil marketing companies could now import products or buy locally-produced ones and take them into the market and sell at commercial prices.

He added, ‘’You would see competition even with NNPCL, and by law, the company can’t do more than 30 per cent of the market going forward. So competition will surely come in and definitely, the market will regulate the price itself. It is an instantaneous price and in two weeks, you will see the adjustment that is happening in many jurisdictions.

‘’But ultimately, you would see changes in price downwards and that is very likely. Efficiency will come in and every lacuna in the sector will be taken out because of the new situation.

‘’The current price is not fixed and will surely change and we did it to announce various prices depending on our cost by location and by the realities around us knowing full well that the NNPCL is the single supplier of the market today and we are seeing that exit coming very quickly. There will be no monopoly and we will not continue to be the only supplier.’’

Meanwhile, the House of Representatives has called on the Federal Government to end subsidies on not just petrol but all petroleum products.

The House, however, urged the government to roll out palliatives and other measures to cushion the effects of the removal of the PMS subsidy on Nigerians.

These were part of the recommendations by the House Ad Hoc Committee on the Need to Investigate the Petroleum Products Subsidy Regime in Nigeria, which the lawmakers considered as a Committee of the Whole and adopted in plenary on Thursday.

Chairman of the committee, Ibrahim Aliyu, had laid the report, 11 months after the task was assigned to the panel.

The committee recommended that “the Federal Government should remove subsidies on all petroleum products.”

It also recommended that “the Federal Government should immediately design measures and palliatives to cushion the effects of the subsidy removal for Nigerians, effective from this year 2023, through the provision and procurement of Compressed Natural Gas buses as an alternative transport system with cheaper fuel consumption.”

The panel also said the government should introduce intermodal, regional and national transport systems to ease the mass movement of people across the country.

In addition, the committee recommended that the Nigerian Midstream and Downstream Petroleum Regulatory Commission should issue stricter and most appropriate regulations as provided in the Petroleum Industry Act to ensure that Nigerians were not short-changed through profiteering.

The lawmakers equally said the Revenue Mobilisation Allocation Committee should lead a reconciliation meeting between the NNPCL, Federal Inland Revenue Service, Joint Venture Contracts and the NMDPRC on the utilisation of their crude entitlements.

The report partly read, “With the total deregulation of the sector, all the agencies involved in crude lifting/security should have a representative with the Nigeria Navy as a lead agency to physically assess and document daily crude production and lifting;

Oil swap

“The committee also recommends that the Federal Government should, as a matter of urgency, liaise with the National Assembly to fashion out critical areas of economic development, in which the additional revenue from the proposed subsidy removal will be appropriately utilised.

“A further investigation, through a forensic audit by the Office of the Auditor General for the Federation, be made to ascertain whether the N413bn borrowed from the Central Bank of Nigeria for subsidy payments was refunded after the passage and assent of the 2015 budget as earlier approved by the President and the report of the Auditor General to be submitted to the House for further legislative action.

“With the subsidy removal, the Federal Government should forthwith suspend all Direct Sales Direct Purchase (oil swap) contracts. NNPCL should act by the provision of the PIA to ensure that the country is not sub-changed in both production, lifting and sales of crude.

The committee further recommended that the Nigeria Customs Service and the Weight and Measures Department of the Federal Ministry of Industry, Trade and Investment be equipped to ascertain the actual daily crude oil lifting from the country for proper checks and balances.

Another recommendation was that the Nigeria Extractive Industries Transparency Initiative Act, 2007, be amended by the National Assembly to be in tune with global best practices.

The panel further recommended that the National Assembly, especially the House standing or ad hoc committees in the 10th Assembly be saddled with such responsibility to conduct “a full-scale investigation on the defaulting oil companies and MDAs that have not met the expectations of the committee to ascertain their level of involvement or otherwise and further protect the commonwealth of the country.”

The House on June 29, 2022, resolved to investigate payments for subsidy on petroleum products, especially petrol, under the Muhammadu Buhari administration.

The Speaker of the House, Femi Gbajabiamila, had set up the panel whose probe covered 2017 to 2021, with the mandate to report back to the House within eight weeks for further legislative action.

The probe was based on a motion titled, ‘Need to Investigate the Petroleum Products Subsidy Regime in Nigeria from 2017 to 2021,’ which was unanimously adopted after it was moved at plenary by a member of the House, Sergius Ogun.

In a related development, the Nigeria Labour Congress has dismissed reports that it would embark on a nationwide protest against the increase in the pump price of petrol.

In a statement on Thursday, signed by its head of information, Benson Upiah, the congress noted that it would keep the public abreast of its moves.

The union had demanded the reversal of the fuel pump price while a meeting between the labour leaders and the FG deadlocked on Wednesday.

But clarifying its position following speculations about its next move, the congress said, “In as much as we are outraged by this mindless price increase which is intended to bring untold hardship to ordinary Nigerians, we have no plan to start any action tomorrow (today).

“What we do have for now are organ meetings slated for tomorrow, Friday, June 2nd, 2023 to deliberate on the price issue. We promise to keep Nigerians informed on our next line of action after our meetings.’’

In reaction to the fuel price hike, the Edo Civil Society Organisations on Thursday blocked a section of the Benin/Lagos highway in protest against the subsidy removal.

The protest, which was held at different locations in the state, obstructed vehicular movements forcing commuters to trek long distances.

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Dangote Partners Honeywell International to Boost Refinery Capacity to 1.4 million barrels per day

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Dangote Refinery, Africa’s largest single-train petroleum refinery, has signed a landmark contract with U.S. industrial giant Honeywell International to execute a significant capacity upgrade that will boost the facility’s crude processing capability from the current 650,000 barrels per day to an ambitious 1.4 million barrels per day.

The multi-billion-dollar project, described by sources close to the deal as one of the largest refinery expansion initiatives globally in recent years, will involve the installation of advanced process units, automation systems, and energy-efficiency technologies supplied and integrated by Honeywell UOP and Honeywell Process Solutions.

Aliko Dangote, President and CEO of Dangote Industries Limited, confirmed the partnership, stating: “This strategic collaboration with Honeywell will position the Dangote Refinery as one of the top five largest refineries in the world by capacity.

The upgrade will not only enhance our ability to meet Nigeria’s complete refined products demand but also establish the refinery as a major export hub for gasoline, diesel, jet fuel, and petrochemicals across Africa and beyond.

”The expansion is expected to be implemented in phases, with key units including additional crude distillation, hydrocracking, and catalytic reforming modules.

Honeywell’s proprietary technologies are anticipated to improve yield of high-value products while reducing energy consumption and emissions.Upon completion, the 1.4 million bpd Dangote Refinery will surpass the current global top-tier facilities such as Reliance Industries’ Jamnagar Refinery (1.24 million bpd) and Paraguay’s planned 1.2 million bpd project, cementing its status as the world’s largest single-train refinery.

The project is expected to create thousands of direct and indirect jobs during the construction and commissioning phases and further reduce Nigeria’s dependence on imported refined petroleum products.

A spokesperson for Honeywell confirmed the award, saying the company was “honored to partner with Dangote on this transformative project that will reshape the African downstream landscape.

”Detailed timelines and the exact value of the contract were not disclosed, but industry analysts estimate the expansion could exceed $5–7 billion in total investment.

The statement said: Dangote Group is pleased to announce that it has entered into a strategic partnership with Honeywell International Inc to support the next phase of expansion of the Dangote Petroleum Refinery.

This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in our long-term vision to build the world’s largest petroleum refining complex.

Through this agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently and to further enhance product quality and operational reliability.

Honeywell, a global Fortune 100 industrial and technology company, offers a wide portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.

Honeywell’s division UOP has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high performance column trays, and heat exchanger technologies that support our best-in-class operations.

Dangote Group is also advancing its petrochemical footprint. As part of the wider collaboration, we are scaling our polypropylene capacity to 2.4 million metric tons annually using Honeywell’s Oleflex technology.

Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.In addition to refining expansion, Dangote Group is progressing with the next phase of its fertiliser growth plan in Nigeria. We will increase our urea production capacity from 3 million metric tons to 9 million metric tons annually.

The existing plant consists of two trains of 1.5 million metric tons each. The expansion will add four additional trains to meet growing demand for high-quality fertiliser across Africa and global markets.

Dangote Group remains fully committed to delivering world-class industrial capacity, strengthening Nigeria’s energy security, and driving sustainable economic growth through long-term investment, innovation, and strategic global partnerships.

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Governor Soludo Presents ₦607.3 Billion 2026 Budget Proposal to Anambra State House of Assembly (Photos)

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Anambra State Governor, Professor Chukwuma Charles Soludo, on Tuesday presented the 2026 Draft Budget Estimates totaling ₦607,346,637,000 (Six Hundred and Seven Billion, Three Hundred and Forty-Six Million, Six Hundred and Thirty-Seven Thousand Naira) to the Anambra State House of Assembly for consideration and passage.

Tagged “Budget for Consolidation and Continuity,” the 2026 fiscal plan represents a 41.5% increase over the revised 2025 budget of ₦429.4 billion.

Speaking during the presentation at the State Assembly Complex in Awka, Governor Soludo described the proposal as a realistic, growth-oriented and people-focused budget designed to consolidate the gains of his administration while laying a solid foundation for the sustainable transformation of Anambra State into a livable and prosperous smart megacity.

Key highlights of the 2026 budget include:- Recurrent Expenditure: ₦103.6 billion (17.1%)- Capital Expenditure: ₦503.7 billion (82.9%)- Education: ₦79.3 billion (highest sectoral allocation)- Infrastructure (roads, erosion control, water): over ₦200 billion combined- Health, youth entrepreneurship, security and social investment programs also received significant boosts.

Governor Soludo emphasized that the budget prioritizes completion of ongoing legacy projects, aggressive infrastructure development, human capital development, and economic transformation in line with the administration’s vision of making Anambra the preferred destination to live, invest, learn, work and relax.

The Speaker of the Anambra State House of Assembly, Rt. Hon. Somtochukwu Udeze, received the draft estimates on behalf of the lawmakers and assured expeditious consideration and passage, pledging the House’s continued partnership with the executive arm in delivering democratic dividends to ndị Anambra.

Lawmakers, traditional rulers, government officials, and stakeholders witnessed the historic presentation.

Read the full speech below:

Mr. Speaker and Honorable Members, it gives me immense pleasure to appear before this Honorable House once again to perform one of our sacred constitutional responsibilities: the presentation of the draft 2026 Budget Proposals for your kind consideration.

Let me begin by expressing my profound gratitude to Ndi Anambra for the renewed mandate given to my Deputy Dr. Onyekachukwu Ibezim and I, in the just-concluded Governorship Election. With an unprecedented voter turn-out and historic 73% vote for us, you spoke very loudly and emphatically that the Solution must continue.

We do not take this historic vote of confidence for granted. We also appreciate the pivotal role played by a majority of members of this House in our victory. Your mandate has reinvigorated and energized us to work even harder to continue to make you proud.

As we said all through the campaign and as the Americans would say: you ain’t seen nothing yet. Let us make history together in the coming four years! To our co-contestants as well as the minority that did not vote for us, I once again extend our hands of fellowship.

Democracy won, Anambra won, and we are here to serve you. Ours is one state, one people, with one agenda. Let us unite and build Anambra together!

Mr. Speaker, Honorable Members, back to the business of the day. Let me place on record that this Honorable Assembly has been a strong, dependable, and progressive partner in our drive to lay the foundations for a livable and prosperous smart mega city.

History will indeed be kind to this 8th Assembly for your commitment, hard work, and exceptional productivity. I particularly recall that on Tuesday, June 11, 2024, I signed into law 11 landmark bills passed by this Assembly, plus other laws before the end of 2024.

In 2025, the Assembly has passed 11 bills and some are still in the pipeline for the year. Ndi Anambra are happy with the leadership and most members of this Assembly for being great partners in progress.

Recall, Mr. Speaker, Hon members that this administration is the first government since we crafted the Anambra Vision 2070—a 50 Year Development Plan for the State, and thus with the historic duty to lay the foundations for the envisioned livable and prosperous smart mega city (the African Dubai-Taiwan- Silicon Valley – ADTS).

This first term of our administration will end on March 17, 2026. Over the past three years and eight months, we have been very intentional and focused on delivering across the five pillars of our Manifesto (Soludo Solution: A Peoples Manifesto for a Greater Anambra) as the short-term agenda en route towards 2070, namely: Security, Law and Order; Infrastructure and Economic Transformation; Human Capital and Social Agenda; Governance and New Value System; and Environmental Sustainability.

Suffice it to report that we have been firing on all cylinders over the past three years and the results are evident even to the blind. Many now say that Anambra is happily on the rise.

In our End of Term Report in March 2026, we will present a comprehensive Report Card. Here we allude to some nuggets. We have strengthened our security architecture, and I am pleased to report substantial progress.

Normalcy has returned to Anambra State, particularly in Ihiala LGA, and it is safe to say that Anambra is now one of the safest, if not the safest, state in Nigeria.

We commend our brave and professional security agencies. We have zero tolerance for criminality, touting, cultism, drug offences as well as for the dangerous native doctors who aid and promote criminal idolatry and criminality. We must unite to root out all evil among us and promote a new moral and ethical code.

In our drive to build a fit-for-purpose modern infrastructure for Anambra, we have sustained an unprecedented pace of road construction across the State.

Today, over 900 kilometres of roads are under construction, with some 600 kilometres already asphalted within just 44 months and with a level of quality that Anambra has not witnessed before (average completion rate of 14 km of new road per month) plus over 700 km of repaired old roads under the zero pothole programme, and 8 bridges.

The Ekwulobia Flyover and Bus Terminal/shopping mall have been fully completed. Our transformative policy of dualizing all Trunk A roads (federal and state) has propelled us racing to complete the dualization of over 100km of roads—creating a strategic beltway around the state and linking our major urban cities.

You all now enjoy the completed Aroma Link Bridge connecting the two major sections of Awka and significantly ease intra-city movement. Importantly, we have broken the 34-year-old jinx of not having a befitting Government House and Governor’s Lodge in Awka.

The new complex named the “Light House” has been completed, and we have since moved in. This is a historic milestone and a testament of true leadership. For the first time in decades, urban and semi-urban water schemes are back and functional, restoring access to clean, reliable water for our people across communities. Our comprehensive Rail Transport Masterplan is ready.

Our vision to transform Anambra into a destination of choice rather than a departure lounge is fully on course. A key element of livability—the availability of facilities for leisure and entertainment—is now in place at Awka.

The Solution Fun City, now the largest leisure and entertainment complex in West Africa, has become a reality. Since its commissioning alongside the Light House by the President, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR, on 8th May 2025, it has commenced operations by end of July and in three and half months of operations, it has attracted over 100,000 visitors from far and wide.

Considerable progress has also been made on other tourism and hospitality infrastructures. The piling work for the 10-storey 5 Star Hotel in Awka has been completed and construction will soon commence.

The development of the Awka City Park as well as the Agulu Lake Beach Resort is ongoing. One of the largest shopping malls in Africa will soon be commissioned here in Awka. We are intentional about developing Awka as a befitting state capital.

Our human capital agenda is powered by a big bang revolution designed to build the next generation of citizens with great stakes in our future and who are productive at home and exportable abroad.

It is a revolutionary policy that provides ladders of opportunity to every child—from the womb to productive adulthood and to respectable retirement. Space would not permit further elaboration here.

In the education sector, the revolution is on, with historic results. With the employment of 8,115 within a year and a half, we have largely ended the era of schools without teachers. We have sustained our free education policy in all public schools from kindergarten to senior secondary school while strengthening the capacity of the teachers as well as the administrative structures.

Enrolment in public secondary schools is up by 47% while the primary schools increased by 27% leading Anambra to have the lowest out of school children in the country. Our 22 pilot smart schools have been fully rolled out, marking a major leap in building a digital tribe.

The lost glory of public education has been restored. Today, our public schools are winning national awards, our students are excelling in external examinations such as WAEC, and our teachers are celebrated across Nigeria as the Best.

We have also sustained the monthly operational costs for both primary and secondary schools to ensure they have the required resources to deliver the quality education we promised.

These efforts are complemented by several other ongoing interventions across the sector. Our commitment to partnership with the mission schools remains unwavering. Currently, the government spends over ₦1.2 billion monthly to pay the salaries of government teachers deployed to these schools, excluding the pensions and gratuity of teachers who retired from them.

In the health sector, the revolution is also on. Our policy to provide free antenatal and delivery services for pregnant women has benefitted about 161,197 women (including free 594 caesarean surgery), with zero mortality.

We have commissioned four out of the five brand-new General Hospitals initiated by our administration in local governments that never had a general hospital. The construction, modernization, and equipping of 326 Primary Health Centres across the State with solar power, boreholes, and essential medical equipment are at an advanced stage.

The Trauma Centre at the Chukwuemeka Odumegwu Ojukwu University Teaching Hospital has been fully completed, strengthening our capacity for emergency care. As a government, we are also determined to complete the Coordinated Wholesale Centre in Oba – a drug market that will be the largest in Africa. Let me assure this Honorable House that the decades-long jinx will soon be broken.

This project is crucial to ending the challenges associated with open and unregulated drug markets in Anambra State. Additionally, the construction of a new nursing school in the State has reached advanced stages, further strengthening our health workforce pipeline.

Building the capacity of our young people and empowering them remains a top priority of our administration. Through our One Youth, Two Skills programme, we have continued to equip our youth with the skills required to survive and thrive. We have successfully graduated and empowered 13,300 youth entrepreneurs who proudly describe themselves as young millionaires. Solution Innovation District (SID), our digital transformation agenda is gaining traction.

So far, 95,735 young people have been trained in various digital skills, positioning Anambra as a talent hub in Nigeria. The iconic SID building, our own version of Silicon Valley, a place where the next generation of tech giants and innovators will be birthed is now at the finishing stages.

Once completed, it will become the nerve centre of digital skills development, innovation, and entrepreneurship in our state.

As a government founded on the manifesto of the All Progressives Grand Alliance (APGA) with a progressive ideal to “leave no one behind,” we are very intentional about building human capacity and lifting people out of poverty.

In addition to the foregoing— health and education as well as youth empowerment—our reinvention of the M.I. Okpara oil palm revolution plus other rare seedlings—coconut, ukwa, bitter kola, etc—are targeted at lifting over 200,000 households out of poverty and empowering people for life.

We have sustained our zero-tax policy for petty traders as well as for artisans, barrow pushers, hawkers, and other vulnerable groups. Furthermore, this administration continues to place the highest priority on the welfare of Ndi Anambra, especially our workers and pensioners.

We have cleared about N22 billion in arrears of gratuity owed to state and local government retirees which this administration inherited and already paid two tranches to clear the arrears owed to dismissed workers of the defunct Water Corporation since over 17 years ago—and will soon pay the final tranche. We now take the prompt payment of monthly salaries, pensions, and gratuity for granted.

The welfare of our workers remains central to our social contract and to the inclusive development we are working tirelessly to deliver.

Mr. Speaker, Hon Members, the list of outcomes is too long for this address. We have said nothing about the robust reforms of how government works—transparent, tech-driven, service-oriented, and value-for money cultured public service.

For example, our land administration has been digitalized and it now takes a few days rather than months/years to obtain/change C of Os.

We have said nothing about how we are battling and taming our environment, which is Anambra’s number one existential threat. As we stated earlier, a more comprehensive report is coming next year.

Let us get back to the budget matter. Recall that on November 19, 2024, I presented to this Honorable House the 2025 Budget, titled “Changing Gears 2.0”, which you diligently reviewed and passed into law. We proposed a modest budget of ₦606,991,849,118 for the 2025 fiscal year, compared to ₦410 billion for 2024, representing a 48% increase.

Recurrent expenditure stood at ₦139.5 billion (a 45% YoY growth), while capital expenditure was ₦467.5 billion (48.9% YoY growth). The budget deficit was estimated at ₦139.5 billion, representing 24% of the budget compared to 30% in 2024.

As you are aware, the macroeconomic environment in which we are implementing the 2025 budget has been both challenging and reassuring. Inflation persisted in double digits with significant pressures on the cost of living and the cost of governance.

However, there is relative stability in the macro-economic environment, with declining headline inflation as well as stable exchange rates.

Our IGR, as of October 2025, showed year-on-year improvement, though still below projections, while expected receipts from the Federation Account fell below expectation. Despite the foregoing, budget performance stood above 60% pro rata, and notably even in an election year, we remained focused on execution mode.

Here, today, and before you is the 2026 Budget Proposal for Anambra State. From all that has been presented thus far, it is evident that there is no slowing down in our journey. Rather, we will accentuate the drive as this is an agenda with a deadline.

We remain focused on acceleration mode, driven by a steadfast commitment to execution. In 2026, we intend to focus even more intensely and intentionally on the full execution of our multi-faceted agenda.

Accordingly, we have appropriately titled the 2026 Budget: “Changing Gears 3.0: Solution Continues”. Yes, indeed Solution Continues — and surely in the second term of this administration, we will turn on to Gear 4 for speedy acceleration as we continue to lay solid foundations en route to Anambra’s ADTS vision.

The proposed budget size for the 2026 fiscal year is ₦757,884,487,705. When compared to the 2025 budget of ₦606,991,849,118, this represents a 24.1% increase, reflecting our intensified focus on execution. Recurrent expenditure is projected at ₦162.6 billion, representing a 16.6% year-on-year growth, while capital expenditure stands at ₦595.3 billion, a 26.3% growth relative to 2025.

Notably, the Capital Budget accounts for 79% of the total budget size, with recurrent expenditure at 21% — a clear demonstration of our commitment to deliver tangible outcomes for Ndi Anambra.

The budget deficit is estimated at ₦225.7 billion, representing 29.8% of the total budget size. As previously, this deficit is expected to be financed, if necessary, through hybrid financing options including possible privatization proceeds, bump in IGR collections, and concessionary borrowing mostly for bankable projects.

However, since the beginning of this administration, we have not borrowed to finance budget deficits, and depending on the pace of execution in 2026, we may still not need to borrow.

Our fiscal discipline remains firm. Relative to 2025, all key sectors increased year-on-year: Administrative Sector (12.2%), Economic Sector (26.7%), Social Sector (31.4%), Education (46.9%), Health (13%), and Infrastructure Investments (27.7%).

These increases reflect our priorities in strengthening human capital, boosting economic growth, expanding critical infrastructure, and securing the well-being of Ndi Anambra.

Our focus in 2026 is to deepen and consolidate the foundations laid in our first tenure, while also introducing new legacy projects that will define Anambra’s future for decades to come while delivering across the five pillars of the Solution Agenda.

Our central priorities remain Security, law, and order; Infrastructure and Economic Transformation; and Human Capital Development.

At least 70% of the 2026 budget is allocated to these critical sectors, reflecting their importance to our long-term development trajectory. We are sustaining the momentum of our transport infrastructure revolution especially building/dualizing strategic roads, bridges, and flyovers that connect the entire state.

We will continue major investments in our mass transit systems, expanding buses, developing new jetties, acquiring boats, and facilitating safer, faster transportation along our waterways. We are exploring PPP financing model for our Rail Masterplan.

Alongside this, we are progressing with the development of three new cities: Awka 2.0, Greater Niger, and the Aerotropolis/ New Industrial-commercial City. The construction of the Anambra Mixed-Use Industrial City will commence in earnest in 2026.

This project signals the next phase of our industrial transformation. Urban planning and regeneration will be accelerated. Furthermore, we will intensify efforts to enhance the Ease of Doing Business in Anambra State, ensuring that our State remains the preferred destination for both local and foreign investors.

In 2026, our plan is to deepen ongoing investments in education, sustaining our free and qualitative education and bursary scheme. We will continue constructing new schools, while upgrading and equipping existing ones to meet modern standards.

To begin, we will commence the construction of new public primary schools in 30 out of the 76 communities that have never had a public primary school, setting a new benchmark for what an ideal school should look like in Anambra State.

Alongside this, we will sustain the aggressive upgrade of infrastructure in our primary and secondary schools through multiple schemes especially the ASUBEB programme, ensuring that learning environments across the State are conducive and equipped.

In addition, we will be establishing two specialist tertiary institutions to strengthen our higher education. We will continue to support mission schools, particularly the returned mission schools. Government teachers posted to these schools help to make them stronger and reduce their charges on pupils/students.

To further strengthen collaboration, a committee will be set up to work closely with the Missions to identify additional ways the government can support these returned schools within our resource constraints. Our shared goal remains clear: to ensure that every child in Anambra State has access to qualitative and transformative education for the 21st century.

Similarly, we will be deepening our ongoing interventions in healthcare and, in addition, completing the investment in the entire healthcare ecosystem with the completion of our College of Nursing and the construction of our specialist teaching hospital (with specialization in Oncology).

Alongside these, we will continue the renovation and equipping of existing primary and secondary healthcare facilities across the State, among other interventions. Also, in 2026, we plan to scale up the One Youth, Two Skills programme to accommodate even more young people, equipping them with the skills and resources needed to thrive as entrepreneurs.

We are equally intensifying our investment in digital skills development. This includes the completion of the iconic Solution Innovation District (SID) building and the development of the broader district in partnership with the private sector, further positioning Anambra as a growing hub for technology and innovation.

Access to clean water is not a luxury. We are expanding water schemes with a goal of general access to safe, reliable water for household and industrial use.

We will continue our efforts to extend power access to underserved communities and affordable power to major business axis in the state. We have developed a regulatory framework based on the bill passed by this House for developing Anambra Electricity Market.

We have constituted and inaugurated the Board of the new Anambra State Electricity Regulatory Commission (ASERC), and the National Electricity Regulatory Commission (NERC) has ordered the transfer of regulatory oversight to them in compliance with the National Electricity Amendment Act of 2023. This signposts that the state is fully ready for the private sector investment in the sector.

The needs of poor and vulnerable individuals are also addressed in this budget. For example, besides the free education, free medical services and tax breaks for the poor, tens of thousands of households will receive ten or more seedlings of coconut, palm, ukwa, pawpaw, soursop, and other crops per household as we have done in the past.

We will also provide grants to micro-businesses across 326 wards in the state as part of our commitment to our Party’s mantra of being our brother’s and sister’s keeper.

Mr. Speaker, Honorable Members, what lies before you today is not just a booklet of numbers, it is a blueprint of solution, a framework for disciplined growth, and a strategic response to our economic realities.

The 2026 budget size stands at approximately $520 million, modest not only in historical terms but especially when adjusted for today’s inflation and the sharply depreciated purchasing power of the naira. Even if we execute this budget at 100%, it will still represent merely a fraction of what was spent in some previous years.

But Ndi Anambra, we have no excuses. We applied for this job. We asked for your mandate and we must deliver, despite all constraints.

This administration remains fully committed to responsible fiscal management. As stated in the 2025 budget, we will only borrow under two strict conditions: the loan must be concessionary with low interest rates, and the borrowing must finance projects with clear, measurable plans for future repayment.

No borrowing for consumption. No borrowing for frivolity. Only borrowing to build assets, generate revenue, and strengthen the future.

Mr. Speaker, Honorable Members, funding the budget remains one of our most persistent challenges. Under this administration, frugality is not a slogan, it is a culture, a discipline, and a way of life. Our mantra remains: doing more with less.

It is no accident that Anambra has been ranked No. 1 in fiscal transparency, and more recently, the leading State in fiscal sustainability. We have cut the cost of governance to the bare bones, prioritizing value over volume.

The unprecedented ratio of 21% recurrent to 79% capital expenditure speaks volumes. We are investing in tomorrow, not consuming today.

Our weakest link, however, remains the Internally Generated Revenue (IGR). For several years, our IGR performance has consistently fallen short of budgeted expectations and potential.

In the coming weeks, we will be partnering to launch an aggressive, technology-driven renewal of our revenue system, blocking leakages, widening the tax net, supporting willing taxpayers, and enforcing compliance where necessary. Ndi Anambra, we must all join hands. The future we seek cannot be funded by wishful thinking.

We will continue to deepen strategic partnerships with the Federal Government, the international community, the private sector, our productive local governments, and vibrant communities.

We are proud of the many communities and stakeholders who, in the true Anambra spirit, are investing heavily in their communities, building roads, upgrading schools and hospitals, co-funding security, and complementing government efforts in unprecedented ways.

Together, we are expanding the big tent of collective development. To demonstrate our commitment to our development partners, we have set aside counterpart funding in this budget. This will unlock more opportunities, more grants, and more collaborative projects for our State.

Finally and to conclude, Mr. Speaker and Honorable members, let me once again express my profound appreciation to the members of the Solution Team, the distinguished Members of the 8th Assembly, the Judiciary, our committed public and civil servants, our indefatigable teachers, and our gallant security agencies.

I extend warm gratitude to our community leaders, traditional rulers, religious bodies, the private sector, the international community, the President and the Federal Government, the media, NGOs, our youths, women, and students. Your sacrifices, and your unrelenting support remain the pillars of our progress. We do not, and will never, take them for granted.

As we implement the 2026 budget, your continued partnership will be indispensable. I assure you that every kobo entrusted to us will be deployed prudently, transparently, and with maximum value for our people.

Ndi Anambra have placed their trust in us, and together with our Solution Team, we will continue to work day and night to lay solid foundations for the prosperous, livable, smart homeland we envision.

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UPDATE: President Tinubu welcomes freed Kebbi schoolgirls, charges security forces to rescue others still in captivity (Video)

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President Tinubu welcomes the freed Kebbi schoolgirls, charges the security forces to rescue others still in captivity

President Bola Tinubu has welcomed the release today of the 24 schoolgirls abducted by terrorists in Maga Kebbi last Monday.

Terrorists struck at the school at dawn on November 17 and abducted the girls, moments after a military detachment left the premises.

The Kebbi incident triggered some other copycat kidnappings in Eruku in Kwara State and Papiri in Niger State.

All 38 kidnapped victims in Eruku were freed on Sunday. The same day, the Niger State chairman of the Christian Association of Nigeria said 50 of the missing students of the Catholic School in Niger have been found in their parents’ homes.

President Tinubu applauded the security agents for all the efforts made to secure freedom for all the victims taken away by the terrorists.

He tasked the security agents to make more efforts to rescue the remaining students still being held captive.

“ I am relieved that all the 24 girls have been accounted for. Now, we must put as a matter of urgency more boots on the ground in the vulnerable areas to avert further incidents of kidnapping. My government will offer all the assistance needed to achieve this,” President Tinubu said.

Watch video below:

https://www.facebook.com/share/v/17STCDNgoj

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