News
Reps in closed-door session over Tinubu’s request to extend 2023 Appropriation Act
The House of Representatives in Nigeria is currently deliberating on President Bola Tinubu’s request to extend the capital component of the 2023 Appropriation Act, which has sparked significant debate and disagreement among lawmakers.
- President Tinubu requested an extension of the capital component of the 2023 Appropriation Act to allow completion of ongoing projects. This request was brought before the House of Representatives upon its reconvening from a break.
- The Minority Leader, Kingsley Chinda, expressed concerns about the potential burden of running multiple budgets simultaneously. He pointed out that if the 2023 Appropriation Act and its supplementary budget are extended, alongside the expected 2024 supplementary budget, it could lead to operational complexities and administrative challenges.
- Some members, including Sada Soli and Alhassan Ado-Doguwa, agreed with Chinda’s concerns. They emphasized the practical difficulties of managing multiple budget periods concurrently. Ado-Doguwa particularly highlighted the ethical considerations of extending budgets beyond their intended timelines.
- Speaker Tajudeen Abbas intervened, urging lawmakers to consider the importance of the 2023 supplementary budget, which is predominantly focused on security. He appealed for support to pass the bill, emphasizing the critical need for funding in security-related areas.
- In response to the disagreements and to possibly find consensus, the House of Representatives moved into a closed-door session. This session would allow for more in-depth discussions among lawmakers away from public scrutiny.
Overall, the debate reflects broader concerns about fiscal management, project completion, and the legislative process in Nigeria. The outcome of the closed-door session will determine whether the extension of the 2023 Appropriation Act’s capital component proceeds or undergoes further review and revision.
News
NMDPRA, EFCC Storm Illegal Chinese Refinery in Ogun (Video)
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stormed an illegal Chinese-operated refinery in Ogere-Remo, Ikenne Local Government Area of Ogun State.
The joint operation followed intelligence reports that revealed a well-fenced but crude yet technically sophisticated facility occupying more than three hectares of land.
During the inspection, officials observed underground tanks believed to have been used for heating and processing sludge oil, refining waste products, and substances suspected to be Automotive Gas Oil (AGO), popularly known as diesel. NMDPRA officials immediately sealed the facility.
Ogun State Coordinator of NMDPRA, Dr. Atilola Akinyemi, described the plant as a complete illegality operating without any permit from regulatory authorities.
“The underground storage facility behind the site has an estimated capacity of more than 90,000 litres, complete with underground heating systems, water hydrants for cooling, locally fabricated tanks and silos for separation,” Akinyemi told journalists.
He warned that if such adulterated products entered the market, they would pose serious risks to vehicles and engines. All recovered products have been confiscated by the Federal Government.
Director of the Department of Proceeds of Crime Management at the EFCC, Gbolahan Latona, stressed the need for collective patriotism in tackling economic crimes.
“Upon conclusion of investigation, the suspects will have their day in court and the proceeds of crime will be put to meaningful use,” Latona said.
Watch video below:
News
Sanusi: Critics Are Not Enemies Of The Govt
” It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.
The Emir of Kano, Alhaji Muhammadu Sanusi II, has advised the Federal Government against treating every comment about the administration as an attack on President Bola Tinubu.
The royal father gave the advise on the occasion of the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tan.
Speaking virtually to the audience at the event, on Tuesday, Sanusi advised the government to tolerate constructive criticism.
“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.
News
Urbanisation: Lagos To Fall Behind Luanda as sub-Saharan Africa’s biggest city by 2050
The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.
A report conducted by the World Bank and the European Commission’s Joint Research Centre, has projected that Angola’s capital, Luanda,will overtake Lagos as sub-Saharan Africa’s most populous city by 2050, rising by 78 percent from 11.4 million to 20.3 million.
The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.
The report estimated that Luanda’s population would increase from 11.4 million in 2025 to 20.3 million in 2050, adding 8.9 million residents over the period.
Lagos, the region’s most populous city in 2025 with an estimated 12.8 million residents, is projected to grow to 16.2 million by 2050, an increase of more than 25 percent.
Despite the growth, Lagos is expected to fall behind Luanda, whose population is projected to exceed that of Nigeria’s commercial hub by 4.1 million.
“Over this period, the population of Angola’s capital city, Luanda, is projected to increase by 78 percent from 11.4 million to 20.3 million.
In doing so, Luanda will overtake Lagos as SSA’s most populous city,” the report said.
-
Business2 days agoNaira Exchange Rates Wednesday, 4 Nov 2026
-
Business2 days agoNNPCL wants to sell 10% equity via IPO on NGX, LSE
-
Business3 days agoMTN migrates MoMo Customers to Alipay+ platform
-
Business3 days agoNaira Exchange Rates 3 November,2026
-
Business23 hours agoNaira Exchange Rates Thursday, 5 Nov 2026
-
News2 days agoSanusi: Critics Are Not Enemies Of The Govt
-
Politics1 day ago2027 Elections Campaign: NDC Reacts To Today’s Attack On Peter Obi in Cross River
-
International2 days agoDemocrats Win US midterm elections
