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2024 Budget Presentation: SEE President Tinubu’s Full Speech At National Assembly

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President Bola Tinubu, on Wednesday, presented the 2024 appropriation bill before a joint session of the National Assembly.

The President in his presentation outlined the major sectors of the economy under which the budget will be prioritised.

Tinubu outlined national defence and internal security, local job creation, macro-economic stability, human capital development, social security, poverty reduction and investment as some of the areas his Budget of Renewed Hope will focus on.

See full text of President Tinubu’s speech at the budget presentation…

— The Vice President, Senator Kashim Ibrahim Shettima, GCON
— The Senate President, Distinguished Senator Godswill Akpabio, GCON
— The Right Honourable Speaker, Tajudeen Abbas
— APC National Chairman, His Excellency, Abdullahi Umar Ganduje
— Executive Governors here present
— Distinguished Leaders and Members of the National Assembly
— Secretary to the Government of the Federation
— Chief of Staff to the President
— Other Senior Government Officials here present
— Gentlemen of the Press
— Ladies and Gentlemen

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly.

Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion to economic development and to the greater welfare of our people. It also highlights your desire to work in close collaboration with the Executive branch. We do not serve ourselves. We must always strive to work together to serve and benefit the people of our beloved country.

I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.

It is, by now, a matter of recorded history that my very first fiscal intervention as President of this great nation was to end the fuel subsidy regime which had proven to be so harmful to the overall health of our national economy. The second was to negotiate and subsequently present a supplementary budget to enable my government to fund the items needed to restore macro-economic stability and mitigate the harsh impact of subsidy removal.

The third was to secure a second supplementary budget, this time to enable us to keep our promises to promote national security, invest in infrastructure and provide much needed support to the most vulnerable households in our society.

In swearing-in my cabinet and reflecting on the unique challenges facing us, I invited the Ministers to imagine that we are attempting to draw water from a dry well. Today, I stand before you to present our Budget of Renewed Hope; a budget which will go further than ever before in cementing macro-economic stability, reducing the deficit, increasing capital spending and allocation to reflect the eight priority areas of this Administration. The budget we now present constitutes the foundation upon which we shall erect the future of this great nation.

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PREVAILING ECONOMIC ENVIRONMENT

Economic conditions remain challenging both abroad and at home. Despite lingering Post-Covid supply and production bottlenecks, armed conflict in various parts of the world and restrictive monetary policies in major economies, we expect global growth to hover around 3.0 percent in 2024. This relative low rate has significant implications for our economy due to our current reliance on importation.

Distinguished Senators, Honourable Members: despite the global headwinds, the Nigerian economy has proven resilient, maintaining modest but positive growth over the past twelve months.

Inflation has trended upward due to weak global conditions. To contain the rising domestic prices, we will ensure effective coordination of fiscal and monetary policy measures, and collaborate with sub-national governments to address structural factors driving inflation in Nigeria.
The Budget proposal meets our goal of completing critical infrastructure projects which will help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person, The Honourable Minister of Budget and Economic Planning will provide full details of this proposal.

PERFORMANCE OF THE 2023 BUDGET

Distinguished Senators and Honourable Members, an aggregate revenue of 11.045 trillion naira was projected to fund the 2023 Budget of 24.82 trillion naira with a deficit of about 6.1 percent of GDP.
As of September 30, the Federal Government’s actual aggregate revenue inflow was 8.65 trillion naira, approximately 96 percent of the targeted 8.28 trillion naira.
Despite the challenges, we continue to meet our obligations.

THEME AND PRIORITIES OF THE 2024 BUDGET

Distinguished Senators, Honourable Members, permit me to highlight key issues relating to the budget proposals for the next fiscal year. The 2024 Appropriation has been themed the Budget of Renewed Hope. The proposed Budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.

Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.

Human capital is the most critical resource for national development. Accordingly, the budget prioritizes human development with particular attention to children, the foundation of our nation.
To improve the effectiveness of our budget performance, government will focus on ensuring value for money, greater transparency and accountability. In this regard, we will work more closely with development partners and the private sector.

To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.

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A stable macro-economic environment is important to catalyse private investment and accelerate economic growth. We have and shall continue to implement business and investment friendly measures for sustainable growth.

We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024.

In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget and the medium term expenditure framework is Nigeria’s commitment to a greener future.

Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors. This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources. By allocating resources to support innovative and environmentally conscious initiatives, we aim to position Nigeria as a regional leader in the global movement towards clean and sustainable energy.

As we approach COP 28 climate summit, a pivotal moment for global climate action, I have directed relevant government agencies to diligently work towards securing substantial funding commitments that will bolster Nigeria’s energy transition.

It is imperative that we seize this opportunity to attract international partnerships and investments that align with our national goals. I call upon our representatives to engage proactively to showcase the strides we have made in the quest to create an enabling environment for sustainable energy projects.

Together, we will strive for Nigeria to emerge from COP 28 with tangible commitments, reinforcing our dedication to a future where energy is not only a catalyst for development but also a driver of environmental stewardship.

Distinguished members of the National Assembly, the revised 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) sets out the parameters for the 2024 Budget.
After a careful review of developments in the world oil market and domestic conditions, we have adopted a conservative oil price benchmark of 77.96 US Dollars per barrel and daily oil production estimate of 1.78 million barrels per day. We have also adopted a Naira to US Dollar exchange rate of 750 naira per US Dollar for 2024.

Accordingly, an aggregate expenditure of 27.5 trillion naira is proposed for the Federal Government in 2024, of which the non-debt recurrent expenditure is 9.92 trillion naira while debt service is projected to be 8.25 trillion naira and capital expenditure is 8.7 trillion naira.

Nigeria remains committed to meeting its debt obligations. Projected debt service is 45% of the expected total revenue.

Budget deficit is projected at 9.18 trillion naira in 2024 or 3.88 percent of GDP. This is lower than the 13.78 trillion naira deficit recorded in 2023 which represents 6.11 percent of GDP.

The deficit will be financed by new borrowings totalling 7.83 trillion naira, 298.49 billion naira from Privatization Proceeds and 1.05 trillion naira drawdown on multilateral and bilateral loans secured for specific development projects.

Our government remains committed to broad-based and shared economic prosperity. We are reviewing social investment programmes to enhance their implementation and effectiveness. In particular, the National Social Safety Net project will be expanded to provide targeted cash transfers to poor and vulnerable households. In addition, efforts will made to graduate existing beneficiaries toward productive activities and employment.

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We are currently reviewing our tax and fiscal policies. Our target is to increase the ratio of revenue to GDP from less than 10 percent currently to 18 percent within the term of this Administration. Government will make efforts to further contain financial leakages through effective implementation of key public financial management reforms.

Distinguished Senators and Honourable Members, in view of the limited resources available through the federal budget, we are also exploring Public Private Partnership arrangements to finance critical infrastructure.

We, therefore, invite the private sector to partner with us to ensure that our fiscal, trade and monetary policies, as well as our developmental programs and projects succeed in unlocking the latent potential of our people and other natural endowments, in line with our national aspirations.
Distinguished Senators and Honourable Members, this Budget presentation would be incomplete without commending the patriotic resolve of the 10th National Assembly to collaborate with the Executive on our mission to renew hope and deliver on our promises to the Nigerian people. I assure you of the strong commitment of the Executive to sustain and deepen the relationship with the National Assembly.

As you consider the 2024 Budget estimates, we trust that the legislative review process will be conducted with a view to sustaining our desired return to a predictable January-December fiscal year.
I have no doubt that you will be guided by the interest of all Nigerians. We must ensure that only projects and programs with equitable benefits are allowed into the 2024 Budget. Additionally, only projects and programs which are in line with the sectoral mandates of MDAs and which are capable of realizing the vision of our Government should be included in the budget.

As a Government, we are committed to improving the lot of our people and delivering on our promises to them. The 2024 Budget has the potential to boost performance, promote the development of Micro, Small and Medium-sized Enterprises, enhance security and public safety, and improve the general living conditions of our people.

In closing, I am confident that these budgetary allocations and directives will set Nigeria on a transformative path towards a sustainable and resilient energy future, fostering economic growth, job creation, and environmental preservation.

It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly, the 2024 Budget Proposals of the Federal Government of Nigeria, titled The Renewed Hope Budget.

I thank you most sincerely for your attention. May we collectively chart the course towards a brighter and cleaner future for our great nation.

May God bless the Federal Republic of Nigeria

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Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.

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Awka Stool Crisis: Commission Submits Report, Reinstates Nwosu as Lawful Monarch

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Retired Justice Paul Obidigwe, chairman of the Awka Stool Dispute Commission, presenting the panel’s report to Governor Chukwuma Soludo at the Government House, Awka.

By Ejike Abana, ABS Awka

A commission of inquiry constituted by the Anambra State Government has affirmed Chief Gibson Nwosu as the lawful traditional ruler of Awka, bringing fresh clarity to a protracted leadership crisis that has polarised the community and raised concerns about the integrity of customary governance processes.

The panel, chaired by retired Justice Paul Obidigwe, submitted its report to Governor Chukwuma Soludo after weeks of sittings marked by detailed submissions and testimonies. In all, the commission received 32 memoranda and heard 28 oral testimonies from stakeholders, including kingmakers, community leaders, and other interested parties.

Presenting the report, Mr Obidigwe said the panel found no lawful basis for the purported dethronement of Igwe Nwosu. According to him, the process fell short of the requirements of due process and breached the principle of fair hearing, rendering the action “unlawful, invalid, and of no legal effect.”

The commission further determined that the emergence of Chief Austin Ndigwe as a rival claimant to the stool did not comply with laid-down procedures. It held that both his selection and enthronement contravened statutory provisions guiding the appointment of traditional rulers in the state, thereby stripping his claim of legitimacy.

Mr Obidigwe described the crisis as not only a local dispute but also “an affront to constituted authority,” warning that disregard for established legal frameworks in traditional institutions could undermine public order and governance.

Background to the dispute

The Awka traditional stool tussle has lingered for months, with factions within the community divided over the legitimacy of the existing leadership structure. Attempts at internal reconciliation reportedly failed, prompting appeals to the state government to intervene.

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The dispute reflects broader tensions often associated with succession processes in traditional institutions, where customary practices intersect with statutory regulations. In Anambra, as in many parts of Nigeria, the recognition of traditional rulers is subject to both community customs and state laws, creating potential flashpoints when procedures are contested.

Government response and next steps

Receiving the report, Governor Soludo said the state government would subject the findings to careful review and subsequently issue a White Paper to determine the official position and outline actionable steps.

Mr Soludo recalled that the government had initially refrained from вмешment, allowing the Awka community space to resolve the matter internally. However, he said the state stepped in after it became evident that local mechanisms had failed to produce a consensus.

He reiterated his administration’s commitment to upholding the rule of law, stressing that Anambra must remain a state where legal frameworks guide both formal governance and traditional institutions.

The governor also sent a broader signal to communities across the state, warning against situations where multiple individuals claim the same traditional stool.

“No community will be allowed to have more than one traditional ruler,” he said, adding that the government’s intervention was not intended to create winners or losers but to restore order and legality.

“There is no victor and no vanquished,” the governor stated, urging all parties to embrace reconciliation in the interest of peace and communal development.


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Kaduna offers land titles to victims of demolitions under el-Rufai

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The Kaduna state government has compensated the residents of
Malali Low-Cost, whose houses were demolished by the administration of Nasir
el-Rufai, with new plots of land.

Bashir Garba Ibrahim, director general of Kaduna Geographic
Information Service (KADGIS), who presented the land titles to the
beneficiaries, said that the gesture was aimed at fulfilling Uba Sani
administration’s commitment to ensure justice for the victims.

He said the compensation with the land titles is the outcome
of a stakeholders meeting, which took place on January 21, and resolved to
investigate the circumstances around the demolition.

While counselling against reselling the plots of land,
Ibrahim advised the beneficiaries to develop the land quickly.

“We want you to become homeowners and contribute to the
growth of our state,” he said.

While responding to the gesture of the state government on
behalf of the beneficiaries, Mohammed Auwal, chairman of the former Malali
Low-Cost residents, expressed gratitude to the governor for addressing their
concerns.

Auwal appreciated the director-general for facilitating the
new land allocation after years of struggle to get compensation.

The Kaduna State Development and Property Company (KSDPC)
had given the residents of Malali Low-Cost a seven-day notice to evict the
community in October 2020.

Although residents protested the short notice and the need
to give them the right of first refusal, the decision was shelved at the time.

However, in March 2021, another three-day notice was served
to the residents, and after the expiration of the notice, more than 80
structures were demolished.

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Betty Akeredolu joins LP in Imo state, declares senatorial ambition

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Betty Anyanwu-Akeredolu, former first lady of Ondo state,
says she has joined the Labour Party (LP) in Imo state.

In a Facebook post shared on
Tuesday, Anyanwu-Akeredolu said she attended the national executive council
(NEC) and stakeholders meeting of the party in Abuja, the nation’s capital,
after joining the LP in Imo state.

She said the meeting, held on March 17, was well attended,
adding that the venue could barely accommodate the number of participants.

Anyanwu-Akeredolu commended the party for its organisational
structure across different levels.

“I wish to commend the Labour Party for the well-structured
outline of positions across State, LGA and Ward levels,” she said.

“It reflects seriousness about inclusiveness and internal
democracy. I must particularly highlight the inclusion of the position of
Deputy Chairman (Female).

“This is a bold and intentional step in a political
environment that has historically confined women to the role of Woman Leader —
often a token position without real influence.

“This provision signals that women are not just
participants, but decision-makers. I urge women across the country to seize
this opportunity.”

Anyanwu-Akeredolu also praised the leadership of Nenadi
Usman, national chairman of the LP.

“Importantly, we must recognize the historic moment we are
in. The Labour Party today is led by a woman — Senator Nenadi Usman,” she said.

“For the first time, a major political party in Nigeria is
under female leadership. This is not just symbolic — it is transformational.
For me, it is exhilarating.

“It provides evidence to our daughters that women can lead
at the highest levels. The psychological impact of this cannot be overstated.
It is a wake-up call for women and girls to be more and do more.”

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She called on Nigerian women to join the party in large
numbers.

“I therefore call on Nigerian women who believe that they
matter in the scheme of things in this country to join the Labour Party in
great numbers — for themselves, and for their children,” she said.

“Women are natural nurturers. That instinct, when translated
into leadership, can drive compassionate, people-centered governance — exactly
what Nigeria needs at this time.”

Anyanwu-Akeredolu also suggested the inclusion of a female
child in the party logo.

“Finally, I draw attention to our party logo — Papa, Mama,
Pikin. While powerful, the depiction of the child as male reflects a bias we
must correct,” she said.

“I recommend the inclusion of a female child in the logo to
send a clear message of equality. Let Labour Party lead this change —
structurally, symbolically, and culturally.”

Anyanwu-Akeredolu added that she is aspiring to represent
Imo east senatorial district in the 2027 election.

She previously sought the Imo east senatorial ticket of the
All Progressives Congress (APC) ahead of the 2023 elections but withdrew from
the party’s primary, citing irregularities in the process.

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Sultan of Sokoto declares Friday Eid-El-Fitr

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The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, has
officially declared Friday, March 20, 2026, the day of Eid-El-Fitr.

He made this announcement on Wednesday evening, stating that
the Shawwal crescent moon was not sighted in Nigeria.

Eid al-Fitr marks the end of Ramadan, the Islamic month of
fasting, and is widely observed by Muslims across the world with prayers and
feasting.

Recall that this declaration aligns with the announcement
from Saudi Arabian authorities, who also confirmed that the crescent moon
marking the beginning of Shawwal was not sighted on Wednesday, setting Friday
as the date for the celebration.

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PHOTOS: IGP Disu presents N2.4bn cheques to families of deceased police officers

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Tunji Disu, the inspector-general of police (IGP), has
presented N2.4 billion in cheques to 1,075 beneficiaries and next of kin of
deceased police officers under the group life assurance and IGP family welfare
schemes.

The presentation ceremony took place in Abuja on Wednesday
at the force headquarters.

Anthony Placid, spokesperson of the Nigeria Police Force
(NPF), said in a statement that the cheques cover policy years for 2018/2019,
2020/2021, 2021/2022, 2022/2023, 2024/2025 and 2025/2026, including outstanding
insurance claims.

Placid quoted the IGP as saying that the ceremony is a
solemn recognition of the sacrifices made by officers who lost their lives in
the line of duty.

While noting that the presentation goes beyond financial
assistance, he said the gesture reflects the force’s duty to honour the
bravery, service, and dedication of its fallen heroes.

Lydia Ameh, a force insurance officer, said the
disbursements “reflect the determination of the IGP Olatunji Disu to prioritise
the welfare of officers and their families.”

Ameh said the payments represent recoveries from
long-standing insurance obligations.

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FG advancing partnership with Coventry University to offer UK degrees in Nigeria – Tunji Alausa

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Tunji Alausa, minister of education, says the federal government is advanced a “major partnership” with Coventry University in the United Kingdom (UK) to make British degree programmes accessible in Nigeria.

Alausa announced the partnership on Wednesday on the sidelines of President Bola Tinubu’s official visit to the UK at the invitation of King Charles III.

Tinubu departed Abuja on Tuesday for a two-day state visit to London, accompanied by his wife and other top government officials.

The state visit, billed to end on Thursday, represents the highest level of diplomatic engagement hosted by the British monarchy and marks the first visit of such scale by a Nigerian leader to the UK in 37 years.

Upon arrival, a Nigerian delegation comprising top ministers, including Alausa, and some governors welcomed the president at the London Stansted airport at 3:18 pm.

‘BRINGING GLOBAL OPPORTUNITY HOME’

In a post shared on X, the minister said he met with representatives from Coventry University to advance a key partnership between Nigeria and the UK in the area of degree programmes.

“I’m in London with President Bola Ahmed Tinubu, GCFR, and we are already making real progress — advancing a major partnership with Coventry University to bring UK degrees to Nigeria. This is personal,” Alausa wrote.

“For too long, families have had to send their children thousands of miles away in search of quality education. We are changing that.

“With Coventry University Nigeria, our students will be able to earn fully accredited UK degrees — at a significantly lower cost — without leaving the country.”

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He said the government’s aim is to allow Nigerian parents to enjoy having their children at home while still receiving a world-class UK education.

According to him, the government is proposing to establish a campus at Alaro, Lagos, which will offer bachelor’s and master’s programmes across STEMM, business, and TVET, with admissions expected between the third and fourth quarters of 2026 (subject to approvals).

“Beyond access, this is about building Nigeria’s human capital — developing the skills, talent, and workforce needed to drive innovation, productivity, and long-term national growth,” Alausa said.

“We are bringing global opportunity home — where it belongs.”

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Peller makes U-turn after cancelling 20-state tour over backlash

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Peller, the Nigerian TikToker and streamer, has reversed his
earlier decision to cancel his planned 20-state tour, just hours after
announcing it.

The content creator had originally announced a 20-state tour
across Nigeria, kicking off on March 6. The tour included planned visits to
Ibadan (Oyo state), Osun, Ekiti, Ogun, Ondo, Kogi, Kano, Kaduna, Abuja, Borno,
Edo, Port Harcourt (Rivers), Imo, Abia, Akwa Ibom, Cross River, Enugu, Niger,
and Ebonyi.

During a recent TikTok live session, Peller announced that
he was ending the tour, citing what he described as hostility and backlash from
audiences as his reason.

“I am ending my tour, I am not doing the tour again. I am
the one who said I wanted to do a tour and it is still me that is saying that
it has come to an end,” he said.

“I am not doing again, I have put my hands up. You people do
not like me, you are not good people. Any state I enter, you people would say I
do not deserve to be welcomed like that. Why? What did I do?”

In a sudden turn of events, Peller has now backtracked on
that stance, confirming the tour will continue.

Speaking during another live session streamed from Ebonyi
state, Peller clarified that calling off the tour was no longer an option.

“You people should not be angry but I would not be able to
end my tour, I cannot. We are live in Ebonyi state. See the beautiful city,” he
said.

The reversal comes amid a wave of controversy surrounding
the influencer in recent days.

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Peller is currently facing a lawsuit filed by a woman
identified as Osarobo Osarenoma Odigie, who is seeking N395 million in damages
over allegations of defamation, cyber harassment, and invasion of privacy
linked to an incident at a lounge.

Benin Traditional Council extended an invitation to him to
appear before a committee of chiefs to state after making what they described as an unauthorised visit
to the palace.

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Eid-el-Fitr: Police Deploy Personnel, Tighten Surveillance in Enugu

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Enugu CP Bitrus Giwa

The Enugu State Police Command has assured residents of adequate security arrangements ahead of the 2026 Eid-el-Fitr celebration, announcing the deployment of personnel and operational assets across the state.

In a statement issued on Wednesday, the Police Public Relations Officer, Daniel Ndukwe, said the Commissioner of Police in the state, Mamman Bitrus Giwa, extended greetings to Muslim faithful on the successful completion of Ramadan, while urging them to uphold the values of peace, tolerance, and sacrifice associated with the season.

Mr Ndukwe said the commissioner had ordered a “strategic deployment” of officers, intelligence resources, and other operational assets to ensure a peaceful celebration.

He noted that security presence would be intensified at prayer grounds, recreational centres, and other public places, alongside increased patrols across the state.

According to him, the commissioner also directed Area Commanders, Divisional Police Officers, and heads of tactical units to ensure effective supervision of security operations and strengthen collaboration with other security agencies.

“The command remains committed to the protection of lives and property,” the statement said, urging residents to remain law-abiding, vigilant, and to promptly report any suspicious activities to the police through designated emergency lines.

The police also called for continued public cooperation to sustain peace and security during and after the festivities.


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Umahi invites EFCC, ICPC to probe ministry projects for transparency

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The Minister of Works, Engr. David Umahi, has invited the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate all contracts and ongoing projects under the ministry to ensure transparency.


Speaking at a media briefing at the ministry’s Abuja headquarters on Wednesday, Umahi said relevant procurement rules were strictly followed from tendering to project execution and that the ministry has nothing to hide.


He explained that the ICPC’s preliminary report is ready, while the EFCC’s findings are awaited following its ongoing work summit.


“We are not hiding anything because we feel for the people. Any file they want, any information, is available. That is how it should be,” Umahi said. “There is nothing we do in the Ministry of Works that we cannot defend. We moved from asphalt to concrete to ensure roads last up to 100 years with minimal maintenance.”


The minister urged journalists to verify information before reporting, noting that roads cut or incomplete impede movement and affect citizens’ daily lives.


Umahi also praised President Bola Tinubu for prioritizing infrastructure and reaffirmed that all ministry projects follow due process and can withstand scrutiny at any time.

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