Tag: President asiwaju Bola Ahmed Tinubu

President Bola Ahmed Tinubu has written to the House of Representatives requesting approval for a ₦1.15 trillion borrowing programme to cover the 2025 budget deficit.

In a letter addressed to Speaker Tajudeen Abbas dated October 31, 2025, the President explained the request became necessary to bridge the unfunded deficit arising from an increase in the total budget size by the National Assembly.

The letter was read during plenary on Wednesday by the Deputy Speaker, Rt Hon Benjamin Okezie, who presided.

Tinubu noted that while the National Assembly passed a ₦59.99 trillion budget, an increase of ₦5.25 trillion from the ₦54.74 trillion earlier proposed by the Executive, this adjustment created a budget deficit of ₦14.10 trillion.

However, the borrowing plan approved in the budget amounted to ₦12.95 trillion, leaving an unfunded gap of ₦1.15 trillion.

“In view of the foregoing, it is necessary to increase the domestic borrowing limit in the 2025 budget by ₦1,147,462,863,321.39 to close this gap,” the President wrote.

The President’s request, which was made in line with Section 44 (1–2) of the Fiscal Responsibility Act, 2007, seeks the National Assembly’s approval to establish the borrowing programme in the domestic debt market.

Tinubu expressed confidence in the lawmakers’ prompt consideration of the request, assuring them of his “highest consideration and personal regards.”

The letter was referred to the Committee on Aids, Loans and Budget Management for further legislative action.

President Bola Tinubu has dismissed US President Donald Trump’s classification of Nigeria as a country of particular concern over alleged religious persecution.

Trump, on Friday, designated Nigeria as a ‘country of particular concern’, expressing concerns over a purported genocide on Christians in Nigeria.

However, in a statement on Saturday, Tinubu insisted that Nigeria is a democracy governed by constitutional guarantees of religious liberty.

The statement read: “Nigeria stands firmly as a democracy governed by constitutional guarantees of religious liberty.

“Our administration is committed to working with the United States government and the international community to deepen understanding and cooperation on protection of communities of all faiths.”

President Bola Ahmed Tinubu on Friday carried out a major shake-up in the military hierarchy, dismissing the service chiefs and appointing new officers to take their place.

A statement signed by his Special Adviser on Media and Public Communication, Sunday Dare, said the action was part of efforts to strengthen Nigeria’s national security architecture.

The President named former Army Chief, General Olufemi Oluyede, as the new Chief of Defence Staff, replacing General Christopher Musa.

Others appointed are:

Major-General W. Shaibu as Chief of Army Staff

Air Vice Marshal S.K. Aneke as Chief of Air Staff

Rear Admiral I. Abbas as Chief of Naval Staff

The Chief of Defence Intelligence, Major-General E.A.P. Undiendeye, retained his position.

It is understood that the development is expected to spark mass retirements within the military hierarchy. By tradition, senior officers who are contemporaries of the outgoing service chiefs are likely to proceed on retirement.

The newly appointed service chiefs are from Course 40 of the Nigerian Defence Academy (NDA), replacing their predecessors from Course 39, including General Oluyede.

Under military convention, officers from senior courses cannot serve under their juniors. This means generals from Course 39 and some from Course 40 will have to retire to pave the way for the new leadership.

According to Leadership Weekend, members of Course 39 still occupy key roles such as Principal Staff Officers at Service Headquarters and Commanders of tri-service institutes.

Military sources who spoke with the platform disclosed that more than 50 senior officers are likely to voluntarily leave service following the appointments.

The Centre for the Promotion of Private Enterprise (CPPE) has warned that President Bola Tinubu’s recent presidential pardon could undermine investors’ confidence in Nigeria.

The Centre noted that a situation whereby persons convicted of economic and financial crimes benefit from the presidential pardon raises questions about policy consistency, contract sanctity, and investment security, thereby discouraging both domestic and foreign investors.

CPPE Chief Executive Officer, Dr Muda Yusuf, raised the concern in a statement on Sunday.

According to the economic think-tank, while the prerogative of mercy is a legitimate constitutional instrument, its application to serious economic and financial offences and other criminal acts demands utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption campaign, drug control and the sanctity of human life.

CPPE urged the Federal Government to urgently review and rationalise the list of beneficiaries of the presidential pardon.

“Reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes; uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency; and strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.

“To preserve investor confidence and social stability, government must demonstrate unwavering commitment to accountability, effective consequence management and the rule of law. The credibility of Nigeria’s economic reform and investment promotion drive depends largely on it,” CPPE stated.

Recall that on October 11, 2025, the Presidency released the names of 175 persons granted clemency, including illegal miners, drug traffickers and kidnappers.

Tinubu’s decision had triggered public outrage and condemnation.

Meanwhile, a statement from the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, clarified that the list of those pardoned is subject to review.