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Again, Senate Approves Tinubu $6bn Loan as Budget Spending Surges

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By Eze Okechukwu, Abuja

In a series of far-reaching fiscal decisions on Tuesday, the Senate approved a $6 billion external borrowing request by President Bola Tinubu, passed the N68.3 trillion 2026 Appropriation Bill, and extended the implementation of the 2025 capital budget to June 30, signaling an aggressive push to sustain infrastructure spending and stabilize public finances.

The upper chamber, presided over by Senate President Godswill Akpabio, granted expedited approval for the loan request shortly after receiving formal communication from the President.

The package includes $5 billion from Abu Dhabi Bank for budget deficit financing and debt servicing, alongside a $1 billion facility from UK Export Finance through Citibank, London, targeted at rehabilitating critical port infrastructure.

The port projects—covering Lagos Port Complex and Tin Can Island Port—are expected to boost efficiency, improve safety standards, and reposition Nigeria as a regional trade hub while supporting non-oil revenue diversification.

The approval followed the adoption of a report presented by Senator Aliyu Wamakko, Chairman of the Senate Committee on Local and Foreign Debts, underscoring the legislature’s backing of the Executive’s borrowing strategy amid widening fiscal gaps.

In a related development, the Senate also passed the 2026 Appropriation Bill of N68.3 trillion after considering a report laid by the Appropriations Committee chaired by Senator Solomon Olamilekan Adeola. The passage reflects an increase over earlier proposals and reinforces the government’s expansionary fiscal stance.

Earlier in plenary, President Tinubu had requested legislative approval for a N9 trillion upward review of the 2026 budget, raising it from N58.4 trillion to N67.4 trillion. The proposal, referred to the Appropriations Committee, is aimed at regularising outstanding obligations, integrating existing debt into the fiscal framework, and aligning expenditure with macroeconomic stability goals.

Meanwhile, lawmakers moved to prevent disruption of ongoing projects by extending the capital component of the 2025 budget from March 31 to June 30, 2026.

Leading debate on the amendment bill, Senate Leader Opeyemi Bamidele warned that without the extension, many projects risk abandonment due to low execution levels, despite about 30 per cent of funds already released to Ministries, Departments, and Agencies.

Supporting the move, Deputy Senate President Barau Jibrin said the extension aligns with the administration’s infrastructure agenda and would ensure continuity of critical national projects.

The developments highlight the Federal Government’s increasing reliance on a mix of domestic and external borrowing to finance ambitious budgets, as well as the National Assembly’s willingness to fast-track fiscal measures aimed at sustaining economic growth and infrastructure development.

POLITICS

Labour Party Fixes National Convention April 28

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The Labour Party has fixed its national convention for April 28 in Umuahia, Abia.

The party also officially released the list of chairmen and members of its electoral sub-committees for the forthcoming congresses in all the states of the federation.

Senior Special Adviser (Media) to the Interim National Chairman, Ken Asogwa, made these known in a statement issued on Tuesday in Abuja.

The party had earlier announced the timetable for its congresses, with ward congresses scheduled for April 23, local government congresses, April 24 and state congresses April 26.

According to Asogwa, the sub-committees, made up of experienced and respected party members, have been constituted to oversee the conduct of the congresses in their respective states.

He listed the chairmen to include: Iheanacho Obioma (Abia); Francis Kim (Adamawa); Ekong Solomon (Akwa Ibom); Chief Tony Asuoha (Anambra); Malam Mustapha Adamu (Bauchi); Beredugo Ebimonyo (Bayelsa) and Chief John Ochoga (Benue).

Others are: Urom Iyang (Cross River); Chuks Onitsha (Delta); Chief Mitchell Nwabueze (Ebonyi); Dr Saliu Edogiawerie (Edo); Usman Mohammed (Niger); Owolabi Ezekiel (Ogun); Charles Afolabi (Ondo); Balogun Ibrahim (Osun); Babatunde Yusuf (Oyo); Fakorede Matthew (Ekiti) and Dr David Ogba (Enugu).

Also included are: Adoga Knaabayi (Gombe); Chinagorom Nwankpa (Imo); Mustapha Garba (Jigawa); Dr Emmanuel Barau (Kaduna); Kabiru Said (Kano); Pastor Ishaku Izang (Plateau); Amaobi Ogah (Rivers); Prof. Muhamuda Muhammad (Sokoto); Jesse Williams (Taraba); Mukhtar Hassan (Yobe) and Haila Baja (Zamfara).

Also, Ismail Bello (Katsina); Muh’d (Birnin Kebbi); Samuel Ajare (Kogi); Bodunde Adebayo (Kwara); Chukwuemeka Ogbanna (Lagos); Dr Muttaqa Yushau (Nasarawa) and Rose Uba-Anarah (FCT).

Asogwa quoted the National Chairman of the party, Sen. Nenadi Usman, as urging the chairmen and members to carry out their responsibilities with utmost fairness, transparency and integrity.

Usman reminded them of the party’s core values of equal opportunity and social justice, urging them to reflect these principles in the discharge of their duties.

She stressed the need for diligence and commitment, noting that the credibility of the party must be upheld throughout the congress process.

The statement assured that all necessary arrangements had been put in place to ensure a smooth, successful, and hitch-free convention.

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POLITICS

2027: Ahmadiyya Leader Sees Hope in Adewole Adebayo if Youths Organise

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By Mike Odiakose, Abuja

The Amir and National Head of the Ahmadiyya Muslim Jama’at of Nigeria, Alatoye Abdulazeez, has urged Nigerian youths to unite politically and strategically, identifying Adewole Adebayo as a potential leader capable of driving national transformation if given collective support.

Speaking during an interview, Abdulazeez emphasized that Nigeria’s progress hinges largely on the ability of young people to organize themselves beyond tribal, religious, and financial inducements, and to rally behind credible leadership.

According to him, while several young candidates have emerged in past elections, their failure to build strong alliances allowed older political forces to maintain dominance.

He noted that the case of Adebayo, a lawyer and businessman who contested under the Social Democratic Party (SDP), presents an opportunity for a different political direction if youths can act in unity.

“If the younger generation is sure that Adewole Adebayo can deliver, they should team up with him, get things right, and encourage other youths across tribes to see themselves as one,” Abdulazeez said.

He stressed that Nigeria is currently in what he described as a “storming stage” of nationhood, where divisions along ethnic and regional lines continue to hinder development.

He warned that unless a “national norm” is established—where citizens prioritize unity over sectional interests—the country may struggle to reach its full potential.

The cleric further advised youths to avoid electoral inducement and reject divisive politics, urging them instead to focus on long-term nation-building.

“We must move from where we are to the next stage. Otherwise, we will keep moving in the same direction,” he added.

Beyond politics, Abdulazeez reiterated the Ahmadiyya motto, “Love for All, Hatred for None,” as a guiding principle for national cohesion, stressing that religion should be a force for peace rather than division.

He condemned terrorism and violence carried out in the name of religion, insisting that such acts contradict Islamic teachings.

On governance, he acknowledged efforts by President Bola Ahmed Tinubu, noting that while progress has been made in some areas, more attention is needed in critical sectors such as power and economic management.

Abdulazeez concluded with a call for collective responsibility among citizens, particularly the youth, to reshape Nigeria’s future through unity, moral discipline, and active participation in governance.

“Leadership is not just about those in office,” he said. “It is also about those who choose them.”
End

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POLITICS

ENSIEC Fixes 2026 Council Election Timetable Sept 26

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 From Sylvia Udegbunam, Enugu

The Enugu State Independent Electoral Commission (ENSIEC) have released a revised timetable for the 2026 local government elections.

ENSIEC Chairman, Prof. Christian Ngwu, presented the updated schedule to journalists in Enugu.

Ngwu said the framework outlines activities leading to elections on Sept.

 26 and re-run polls on Oct.
10.

He explained the adjustments followed the repeal of the Electoral Act 2022 and enactment of the Electoral Act 2026.

 “The revised timetable aligns with the new law and other relevant statutes guiding elections in the state,” he said.

He recalled ENSIEC earlier issued a notice on Aug. 20, 2025 alongside an initial timetable.

According to him, party primaries will be held from Jan. 23 to May 26.

“Campaigns will begin on April 29 and end on Sept. 25, 24 hours before polling,” Ngwu added.

He said submission of nomination forms closes on May 29, while candidates’ particulars will be published on June 19.

“The final list of candidates will be released on July 27,” he stated.

Ngwu added that submission of polling agents ends on Aug. 31, while the official notice of poll comes on Sept. 11.

He confirmed elections will be held on Sept. 26, with voting from 8:00 a.m. to 3:00 p.m. using the open secret ballot system.

 “In case of inconclusive results, re-run elections will be conducted on Oct. 10,” he said.

Ngwu stressed the timetable was issued under the commission’s constitutional mandate and in compliance with the Electoral Act 2026.

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