NEWS
Tinubu Presents ₦58.18trn 2026 Budget To National Assembly
President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, outlining plans to consolidate economic reforms, boost growth and improve living standards for Nigerians.
The budget, tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” aims to sustain recent macroeconomic gains and strengthen investor confidence while translating recovery into jobs and economic opportunities.
SEE ALSO: ‘Nigeria Cannot Wait’ — NANS Urges Tinubu To Declare State of Emergency On Insecurity
Addressing lawmakers, Tinubu said the presentation marked a defining moment in Nigeria’s reform journey, acknowledging the pains of recent economic adjustments but assuring citizens that their sacrifices were not in vain.
The President said Nigeria’s economy was showing clear signs of stability, citing a 3.98 per cent GDP growth in the third quarter of 2025, eight consecutive months of easing inflation to 14.45 per cent in November 2025, improved oil production and stronger non-oil revenues.
He disclosed that Nigeria’s external reserves had climbed to a seven-year high of about $47 billion, providing more than ten months of import cover.
“These outcomes reflect difficult but deliberate policy choices,” Tinubu said, stressing that the focus was now on ensuring stability translates into shared prosperity.
2026 fiscal framework
Under the proposal, total revenue is projected at ₦34.33 trillion, while total expenditure stands at ₦58.18 trillion, including ₦15.52 trillion earmarked for debt servicing.
Recurrent (non-debt) expenditure is estimated at ₦15.25 trillion, while capital expenditure is pegged at ₦26.08 trillion. The budget deficit of ₦23.85 trillion represents 4.28 per cent of GDP.
The budget assumptions include a crude oil benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.
Sectoral allocations
Security tops sectoral allocations with ₦5.41 trillion, followed by infrastructure (₦3.56 trillion), education (₦3.52 trillion) and health (₦2.48 trillion).
Tinubu said investments in education, health, agriculture and infrastructure would be prioritised to drive inclusive growth and economic resilience.
Budget execution
The President admitted that the implementation of the 2025 budget faced challenges, noting that by the third quarter, ₦18.6 trillion in revenue and ₦24.66 trillion in expenditure had been recorded.
He pledged stricter budget discipline in 2026, directing finance and budget authorities to ensure full compliance with appropriated timelines and details.
“The greatest budget is not the one we announce, but the one we deliver,” Tinubu said as he laid the bill before lawmakers.
NEWS
Global Crisis: Attacks on Schools Skyrocket 166% – UN Sounds Alarm on Children’s Safety
The United Nations has raised the alarm over a dramatic surge in attacks on schools worldwide, reporting a 166% increase between 2021 and 2024.
The rise highlights the escalating dangers faced by children in conflict zones.
United Nations Deputy High Commissioner for Human Rights, Nada Al-Nashif, revealed the figures during the annual meeting of the UN Human Rights Council on the rights of the child on Monday.
The session, themed “Mainstreaming the Rights of Children in Armed Conflict: Prevention and Protection,” focused on protecting children amid global conflicts.
Al-Nashif noted that the attacks were particularly concentrated in Sudan, Ukraine, the Gaza Strip, Myanmar, and Ethiopia, where children remain among the most vulnerable victims.
“In 2024, armed conflict directly affected nearly one in six children globally—about 470 million children,” she said. “Years of lost education, trauma, and lasting mental scars shape societies for generations. Long after the fighting subsides, children continue to face deadly risks.”
She highlighted Gaza as having the world’s highest number of child amputees per capita, warning that the impact of war goes far beyond immediate violence.
In Lebanon, government figures show that more than 450,000 people were displaced in less than a week, with at least 394 fatalities, including 83 children, during the 2024 conflict with Israel.
Al-Nashif also stressed the disproportionate risks for displaced children, who are more likely to die from disease linked to unsafe water and sanitation than from direct violence.
In the Democratic Republic of Congo, a 2025 cholera outbreak killed 340 children, underscoring the long-term consequences of conflict.
She called on states to uphold their international obligations to protect children, insisting that protecting children is “both a legal obligation and a humanitarian moral imperative.”
Also speaking at the council, Vanessa Frazier, Special Representative of the UN Secretary-General for Children and Armed Conflict, warned that violence against children continued at extreme levels in 2025.
She urged mainstreaming child protection across peace, security, humanitarian, human rights, and development efforts, emphasizing that children should actively participate in shaping policies designed to safeguard them.
Frazier highlighted her office’s global campaign, “Prove It Matters,” aimed at amplifying children’s voices in conflict resolution and peacebuilding.
The UN report underscores the urgent need for coordinated international action to protect children and ensure their safety in conflict zones worldwide.
International News
After Turbulent Elections, Portugal Swears In Seguro as President
Portugal officially inaugurated its new president, Antonio Jose Seguro, on Monday, pledging to bring stability to a nation shaken by political uncertainty and natural disasters.
Seguro, the centre-left candidate, won last month’s presidential run-off against far-right rival Andre Ventura, following weeks of catastrophic storms that killed at least seven people and caused approximately €4 billion ($4.6 billion) in damage.
Speaking at his swearing-in ceremony in Lisbon’s parliament, Seguro emphasized cooperation with the minority right-wing government and vowed to end the country’s “electoral frenzy.”
SEE MORE: Spain, Portugal Plunge Into Darkness Amid Widespread Power Outage
“I will do everything I can to put an end to this electoral frenzy,” he said, pointing to the inability of previous governments to complete their terms.
Amid global crises, including conflicts in the Middle East and a more isolationist US approach under President Donald Trump, Seguro stressed the importance of multilateralism.
“The force of law has been replaced by the power of the strongest,” he remarked.
Seguro succeeds Marcelo Rebelo de Sousa, a conservative who leaves office at 77 after serving two five-year terms.
While the Portuguese presidency is largely ceremonial, Seguro’s leadership signals a commitment to political stability and international engagement.
NEWS
JUST IN: Nigerians Reeling as Dangote Sparks Another Spike in Fuel Prices
Nigerians are facing yet another economic blow as petrol prices surge again. The Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (PMS) to N1,175 per litre, marking the third increase in just one week.
The latest adjustment, announced to marketers on Monday, follows a temporary suspension of petrol sales at the refinery on Sunday. Diesel, also known as Automotive Gas Oil, has also been revised upwards to N1,620 per litre.
ALSO READ: NNPC, Dangote Team Up to Power Nigeria’s Energy Future
A senior refinery official, speaking on condition of anonymity, confirmed the hike, noting that it reflects “prevailing market fundamentals and the cost environment we are currently operating in.”
Industry checks show that depot pricing systems have already updated the new rates, signaling an inevitable rise at retail stations.
In some cities, petrol is now being sold at over N1,200 per litre, adding pressure on Nigerian motorists and businesses alike.
This repeated surge comes after earlier increases that pushed gantry prices from N774 to N995 per litre earlier this week.
Experts warn that the hikes are likely to drive up transportation, logistics, and production costs, potentially impacting the prices of goods and services nationwide.
While the Federal Government, through the Nigerian National Petroleum Company Limited (NNPC), is working to secure crude supplies for the refinery via international traders, officials cautioned that this may not immediately reduce prices for consumers.





