Politics
Senate Approves 2020-2022 MTEF,FSP …Raises FG’s Expenditure Estimates

The Senate yesterday, approved the 2020 to 2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper(FSP).
The approval, followed the adoption of a 16-point recommendations by the National Assembly Joint Committee Finance and National Planning which considered the MTEF and FSP documents.
Part of the recommendations approved by senate was to increase the Federal Government’s total expenditure estimates in the MTEF/FSP from N10.002 trillion to N10,729.4 trillion.
This amounts to an increase of additional N729 billion.
The joint committee had conducted a public hearing on the MTEF and FSP on October 2.
The committee had engaged revenue generating agencies in the country on the contents of the MTEF and FSP forwarded by President Muhammadu Buhari for consideration.
Following, debates by over 20 senators on the recommendations, senate adopted the 57dollars per barrel as crude oil benchmark price for the fiscal year 2020.
It also approved the retaining of N305 to one dollar to ensure economic stability.
It also adopted 2.18mbpd as daily crude oil production output in 2020.
It noted that the 2.18mbpd approved would be realised, given concerted effort by Nigerian National Petroleum Corporation (NNPC) and security agencies to combat oil theft and vandalism.
It also recommended an increase in the revenue target of Nigeria Customs Service(NCS) from N942.6 billion to N1.5 trillion,given the performance of the NCS in the last nine months.
It further recommended that N557.4 billion from the revenue increment of NCS be used to reduce borrowing by N200 billion and increase capital expenditure.
This,it said would help decrease the size of the budget deficit from N1.7 trillion to N1.5trillion and also increase capital available to MDAs by N357 billion from N1.01trillion to N1.367 trillion.
It recommended the adoption of N1.5trillion as the amount for new borrowing,adding that the borrowing must be tied to critical projects to increase productivity.
It also recommended the earmarking of 1 per cent of the consolidated revenue to finance basic health care.
It recommended that proper investigation be carried out on the electronic collection of stamp duties domiciled with the Central Bank of Nigeria(CBN)to ensue accountability and increase revenue base.
It also recommended proper investigation on NNPC to ascertain the actual cost associated with the joint venture oil agreements.
It recommended for a call for an urgent review of the Fiscal Responsibility Act and other laws of the revenue generating agencies to align with current realities.
It further urged the national assembly to expedite action on the passage of the finance bill which would be brought along with the budget.
2020 budget by President Muhammadu Buhari.
Lawan said there was the need for the Federal Inland Revenue Services (FIRS) to widen the tax net to generate more revenue for capital expenditure.
Lawan said there was the need for other revenue generating agencies to provide their revenue performances, noting that only that of the NCS was indicated in the recommendation.
He also called for the diversification of the economy from a mono economy via agriculture, solid minerals and tourism
Politics
Reps Constitution Review Committee Holds Zonal Hearing For Rivers, C’River, Akwa Ibom In Calabar

A press statement issued by the Chief Press Secretary to the Cross River State Governor, Mr Linus Obogo, disclosed that the Calabar Centre — designated as Centre B — will host representatives and stakeholders from Cross River, Rivers, and Akwa Ibom States.
The public hearing is scheduled to take place on Saturday, July 19, 2025, at 10:00 a.m. at the Transcorp (Metropolitan) Hotel, Calabar.
The initiative, according to the statement, is designed to promote inclusive dialogue and capture the aspirations of Nigerians from all regions.
It aims to serve as a platform for citizens to contribute meaningfully to the ongoing national efforts to refine and strengthen the country’s legal and institutional frameworks.
“Citizens, civil society groups, professional bodies, traditional rulers, and other interest blocs are invited to participate in this landmark engagement aimed at advancing a more just, equitable, and responsive Nigerian Constitution,” the statement read.
The hearing forms part of the broader review process of the 1999 Constitution (as amended), and is seen as a strategic move toward fostering national unity and addressing structural legal issues within the federation.
Politics
Tinubu’s Contribution To Buhari’s Presidency Marginal – Ex-SGF

For the first time since 2022, when then-presidential aspirant Alhaji Bola Tinubu declared he made former President Buhari Nigeria’s President in 2015, Mr Mustapha dismissed the claims, stressing that the merger only contributed about three million votes in addition to Buhari’s existing 12 million votes in the North.
He insisted that former President Buhari’s integrity, national stature, and disciplined messaging were central to the breakthrough, not the three million votes from the merging parties, which he described as insignificant.
Speaking on the role of the merging parties, particularly President Tinubu, the leader of the Action Congress of Nigeria (ACN), Mr Mustapha, who was the keynote speaker at the launch of the book ‘According to the President: Lessons from a Presidential Spokesman’s Experience’ authored by Mallam Garba Shehu, described the impact of the votes from other merging parties as very insignificant.
In attendance were former Head of State Yakubu Gowon, chair of the event; immediate past Vice President Yemi Osinbajo; SGF George Akume, who represented President Tinubu; PDP’s 2023 presidential candidate Atiku Abubakar; former Chief of Staff to Buhari Ibrahim Gambari; elder statesman Babagana Kingibe; former governors Nasir El-Rufai (Kaduna), Kayode Fayemi (Ekiti), Chris Ngige (Anambra), Rauf Aregbesola (Osun), Raji Babatunde Fashola (Lagos); former ministers Solomon Dalung and Sunday Dare; former Army Chief Tukur Buratai, and Bayo Onanuga, President Tinubu’s spokesman, among others.
According to Mr Mustapha, “I do not intend to stir up any controversy. The merger in 2013 was midwifed to create a Buhari presidency. Let us look at the statistics. In the 2003 election, it was the Obasanjo-Buhari presidential contest where Buhari recorded 12.7 million votes. In 2007, it came to 6.6 million, and it went back to 12.2 million in 2011.
“When we were conceptualising the merger, what would give us a headstart? Obviously, it was at the back of our consciousness that the merger with the Congress for Progressive Change (CPC), though it had only one state, the ACN had six states, ANPP three states, and when you sum up the total votes that we had as the presidency in 2015, the aggregate of the total votes was 15.4 million.
“So, basically, what we brought to the table after the merger outside the Buhari 12.5 million votes was three million. Before turning to that presidency, it is important to recognise the former President’s role in reshaping Nigeria’s political trajectory.
“In early 2013, as the leader of the CPC, Buhari formally requested and supported the creation of a CPC merger committee, part of a broader coalition-building process that brought together the ACN, ANPP, APGA faction, and elements of the ruling party through the breakaway ‘new PDP’ group. His endorsement and participation, along with other party leaders such as President Tinubu and Senator Ali Modu Sheriff, lent credibility and direction to the merger, helping to unify disparate party factions under the banner of the APC. That coalition-building paved the way for the first democratic defeat of an incumbent ruling party in Nigeria’s history.
“President Buhari’s integrity, national stature, and disciplined messaging were central to that breakthrough. No account of President Buhari’s tenure would be complete without acknowledging the extended periods he spent on medical leave. These moments, while politically delicate, were also telling of his leadership philosophy and personality,” he said.
In his remarks, President Tinubu promised to build on the legacies of former President Buhari, stressing that “nation-building is a relay. The efforts of one administration lay the foundation for the next.
“In this regard, I acknowledge the efforts of my predecessor, President Buhari, and assure all Nigerians that the reform-oriented path he initiated will be consolidated and strengthened under this administration. Our Renewed Hope Agenda is inspired by the desire to build a resilient, just, and inclusive Nigeria—a nation that delivers dividends of democracy to all its citizens”.
Politics
Your Lies Chasing Investors From Nigeria, Omokri Slams Obi
Speaking during an appearance on live television on Wednesday, Mr Omokri alleged that Mr Obi’s statements were misleading and damaging to the country’s economic prospects.
Mr Omokri said some investors currently operating in Nigeria were considering exiting the market due to Mr Obi’s remarks.
“That is not true. He doesn’t rile me up. I rile him up. The reason why I came here is because I’m a patriot. Peter Obi lied. You know, foreign direct investors are watching your programme, who are making investment decisions not to come to Nigeria. There are foreign investors in Nigeria that are making investment decisions to leave Nigeria because of the lie he told.
“One of the lies he told is that President Tinubu has borrowed more than the administrations of Yar’Adua, Jonathan, Buhari. That is a blatant lie”, Mr Omokri said.
To buttress his claims, Mr Omokri referenced figures from the Debt Management Office (DMO), maintaining that President Tinubu had actually reduced Nigeria’s external debt burden since assuming office.
“I have here with me data from the Debt Management Office, and Nigerians who are watching can go to DMO.com and search Debt Management Office, Nigeria State of Indebtedness 2015.
“As of 2015, Nigeria was owing a total of $63 billion. When Buhari was leaving office, Nigeria was owing $113 billion. Today, from the DMO, our debt has gone from $113 billion to $97 billion, meaning that Tinubu has reduced our debt by over $14 billion.
“We should be appreciating this man. Yet Peter Obi came here and lied to the Nigerian people. He took the debts and translated them into naira to make it look like the debts have increased”, he said.
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