NEWS
FEC Approves $618m Loan For Fighter Aircraft, Ammunition Procurement
The Federal Executive Council (FEC) has approved a loan package totaling $618 million from a group of international financiers to procure six fighter aircraft and associated ammunition for the Nigerian Air Force.
The decision was announced by the Minister of Information and National Orientation, Mohammed Idris, following the FEC meeting chaired by President Bola Tinubu in Abuja on Wednesday.
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Mohammed Idris, who represented the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the loan includes a credit facility of €443.3 million and $141 million.
This funding will be used to purchase six units of M346 fighter jets, a move that aligns with the Nigerian Air Force’s ongoing fleet renewal strategy.
Earlier in October, the Air Force announced plans to acquire 24 M346 combat jets and 10 AW109 Trekker helicopters, with the first deliveries scheduled for early 2025 and continuing through mid-2026.
The procurement, according to Idris, is part of a broader set of approvals made by the FEC during the meeting.
These include the elimination of double taxation agreements between Nigeria and Hong Kong as well as Botswana, and several contracts for the Nigerian Customs Service.
In addition to defense investments, the FEC also approved the establishment of the Creative Economy Fund, aimed at bolstering Nigeria’s growing creative sector.
The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, described the fund as a “special purpose vehicle” designed to provide financial access to creative professionals, allowing them to use their intellectual property (IP) as collateral.
The minister emphasized that the fund, already backed by a $200 million commitment from Afreximbank, will help the creative sector in Nigeria flourish by providing much-needed financial support.
“We identified very early on that the basic structures needed to tap into the potential of the creative economy were missing,” Musawa said, stressing the importance of establishing robust IP policies and other foundational elements for the sector’s growth.
NEWS
Makinde Fires Back at Presidency, Insists on ₦9tn NLNG Dividend Shortfall
Oyo State Governor Seyi Makinde has challenged the Presidency to explain how Nigeria Liquefied Natural Gas (NLNG) dividends were distributed among states and local governments, insisting that a reconciliation exercise identified a shortfall of about ₦9 trillion.
Makinde’s position was contained in a statement issued on Sunday by his Special Adviser on Media, Dr Sulaimon Olanrewaju, in response to the Presidency’s rejection of the governor’s earlier claims over NLNG dividend payments.
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The statement said the Nigeria Governors’ Forum (NGF), with the support of the Federal Government, engaged a consultant to reconcile NLNG dividend payments, adding that the exercise identified approximately ₦9 trillion allegedly due to states and local governments.
“The exercise identified a shortfall of about ₦9 trillion due to states and local governments. The Federal Government accepted the findings,” the statement said.
The governor maintained that the reconciliation report remained in the custody of both the Federal Government and the NGF.
“The report remains in the custody of both the Federal Government and the NGF. We trust the Presidency will not deny its existence,” the statement added.
The statement also noted that Makinde is the incumbent Vice-Chairman of the NGF.
Makinde Questions $21.5bn NLNG Dividend Payments
The governor questioned the Presidency’s statement that NLNG had paid $21.5 billion in dividends into the Federation Account since its inception, including $3 billion received under the current administration.
According to Makinde, the Presidency’s response did not explain how the payments were distributed or establish the amounts received by states and local governments.
“The Presidency stated that NLNG had paid $21.5 billion in dividends into the Federation Account since inception, including $3 billion received under the current administration. But it did not explain how these funds were disbursed,” the statement said.
The governor also questioned whether states and local governments had received their shares, how much they received and the basis for calculating their allocations.
“Have states and local governments received their shares? How much did they receive, and how were those amounts calculated? What happened to the $3 billion received under this administration?” the statement asked.
Makinde defended the figures he had previously cited, maintaining that his claims were based on verifiable information.
“Governor Makinde conducts public discourse with decorum and does not make unfounded claims or quote figures without a basis,” the statement said.
The governor maintained that he was ready to provide further clarification on the matter while urging the Presidency to address the substance of the allegations.
“We remain ready to provide further clarification while we urge the presidency to address the substance of the matter,” the statement added.
Recall that Biztellers had earlier reported the Presidency’s rejection of Makinde’s claim concerning NLNG dividends allegedly withheld from states and local governments.
The Presidency stated that NLNG had paid $21.5 billion in dividends into the Federation Account since its inception, including $3 billion received under the current administration.
However, in his latest response, Makinde argued that disclosing the total amount paid into the Federation Account did not address how the funds were distributed among the different tiers of government.
The governor is now demanding clarification on the distribution of the dividends and the findings of the reconciliation exercise that reportedly identified the ₦9 trillion shortfall.
NEWS
NANS Threatens to Shut Down AE-FUNAI Over School Fees Hike
The National Association of Nigerian Students (NANS) has threatened to shut down Alex Ekwueme Federal University, Ndufu-Alike (AE-FUNAI), Ebonyi State, if the institution’s management fails to reverse the reported increase in school fees.
The association, in a press release dated Sunday, October 18, 2026, described the reported tuition increment as insensitive, unjustifiable and unacceptable, citing the economic difficulties confronting Nigerian students.
The statement was signed by the NANS President, Dist. Comr. Akinteye Babatunde Afeez, GCNS, who warned that the increase could frustrate the academic aspirations of countless students.
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“To be clear, education cannot be commercialised. Students cannot be made to pay for the financial challenges confronting our universities,” the statement read.
NANS acknowledged that universities require adequate funding but argued that their managements, particularly vice-chancellors, should explore innovative revenue-generating opportunities rather than impose additional financial burdens on students.
The association maintained that the Federal Government was investing heavily in education to keep students in school and ensure that access to education was not determined by their financial background or status.
NANS Gives University Management Conditions
The student body warned the vice-chancellor and the entire university management against policies capable of pushing students out of school.
It said the national leadership would not stand by while Nigerian students faced additional financial pressure that could threaten their academic futures.
“Going forward, we wish to make it clear to the Vice-Chancellor and the entire University Management that the National Leadership of NANS will not stand by while Nigerian students are subjected to policies capable of pushing them out of school,” the statement said.
NANS subsequently demanded an immediate reversal of the reported tuition increase and called on the university to restore fees to the affordable and reasonable levels that existed before the increment.
The association warned that failure to meet its demand would lead to a mobilisation of its national leadership to the institution.
“To this end, we call on the management of Alex Ekwueme Federal University to immediately reverse the reported tuition increment and return the fees to the affordable and reasonable level that existed before the increment. Otherwise, we will mobilise the National Secretariat of NANS to Alex Ekwueme Federal University and shut down the school until the fee is reversed,” the statement added.
NANS Reaffirms Commitment to Students
The association reiterated its commitment to defending the interests, welfare and aspirations of Nigerian students.
It pledged to continue speaking firmly against policies that place unnecessary and unbearable financial burdens on students.
NANS maintained that students should not be made to bear the financial challenges confronting universities and called on the management of AE-FUNAI to reverse the reported increase.
NEWS
Gov Uba Sani Hands Over Land Titles to Displaced Residents of Nine Kaduna Communities
Kaduna State Governor Uba Sani has handed over land titles to displaced residents of nine communities in Birnin Yero, Igabi Local Government Area, to enable them to rebuild their homes and regain shelter.
The Kaduna State Ministry of Information and Culture disclosed the development on Sunday, October 18, 2026, describing the exercise as an intervention aimed at helping displaced residents rebuild their homes.
According to the ministry, each beneficiary is being allocated a plot of land to support resettlement and provide shelter for affected residents.
SEE ALSO: Kaduna Moves to Clear 5-Year Promotion Backlog for 24,000 Teachers
“ He is officially handing over land titles, giving each person a plot of land to rebuild their homes and regain shelter,” the ministry’s announcement stated.
The ministry also noted that Governor Sani had continued to support displaced communities across Kaduna State since assuming office.
The latest exercise focuses on nine communities in Igabi Local Government Area, with the allocation of land intended to help affected residents rebuild their homes and regain stability.
The development comes amid previous reports concerning land disputes and displacement affecting communities in Kaduna State.
In September 2026, reports indicated that the Kaduna Geographic Information Service (KADGIS) had resolved more than 5,000 land disputes and restored over 150 property titles.
The agency also reported that alternative plots had been provided to some communities affected by previous demolitions.






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