News
Buhari to present 2023 budget to NASS October – Gbajabiamila
President Muhammadu Buhari is expected to present the 2023 budget estimates to a joint session of the National Assembly in the first week of next month, Speaker, House of Representatives, Femi Gbajabiamila, has said.
The Speaker, who was responding to questions from reporters on Wednesday after inspecting ongoing renovation works in the House was however silent on the modality the budget presentation would take.
“I am hoping that the budget will be presented latest by the first week of October,” he said.
Both the Senate and the House Committee on Finance are currently holding interactive sessions with government agencies on the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.
Buhari presented the 2022 budget to a joint session of the National Assembly on October 7, 2021.
Renovation inside the chamber of the House which is usually used for the joint session was still at preliminary stage on Wednesday without any indication that it will be ready in the next six months.
Gbajabiamila, however, called for the speedy completion of the ongoing renovation ahead of the delivery deadline of last month, while confirming that the Chamber may also not be ready for the inauguration of the 10th Assembly in June 2023.
He said that speedy completion of the work must, however, not compromise the quality of the work to be delivered, adding that though the renovation, which began last month, had progressed well, he would still ask the project managers to speed up the pace and beat the deadline.
At the chamber, Gbajabiamila was briefed on the details of the upgrade and the adjustments to be made to the sitting areas of lawmakers, the chamber staff, the presiding officers, the press gallery, the roof and the adjoining rooms to the chamber.
Gbajabiamila said the changes introduced were “impressive” and would greatly assist the lawmakers in their legislative duties in line with global standards, saying: “This work started in August, a few weeks behind schedule, but for a good reason. So far between August and now, giant strides have been made; you can see the whole chamber has been ripped apart, and the innovations are going to be state-of-the-art.
“We will be proud to have a chamber that matches the best standard all over the world; so I am quite impressed with the work so far. I would encourage them to double the pace because, as it is, this is not for the benefit of the 9th Assembly but for the benefit of the 10th Assembly.
“The whole chamber isn’t going to be ready until sometime in August next year; so we are talking close to a year and that tells you the level of work that is going on.”
News
Tinubu Rejects Calls to Suspend New Tax Laws, Insists Reforms Will Proceed
Tinubu Rejects Calls to Suspend New Tax Laws, Insists Reforms Will Proceed
President Bola Tinubu has rejected calls to suspend the implementation of Nigeria’s new tax laws, insisting that no substantial issue has been established to justify halting the reform process.
In a statement personally signed on Tuesday, Tinubu affirmed that the tax reform laws, including those that took effect on June 26, 2025, and others scheduled to commence on January 1, 2026, will be implemented as planned.
“No substantial issue has been established that warrants a disruption of the reform process,” Tinubu said. “Absolute trust is built over time through making the right decisions, not through premature, reactive measures.”
The president’s position comes amid growing public debate over alleged discrepancies between the tax acts passed by the National Assembly and versions published in the Official Gazette.
On December 26, the National Assembly ordered a re-gazetting of the tax laws after acknowledging differences between the legislative versions and the published documents. In separate statements, the House of Representatives spokesman, Akin Rotimi, and the Clerk to the National Assembly, Kamoru Ogunlana, assured Nigerians that the matter was being addressed within constitutional and statutory limits.
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They explained that the review was being conducted in line with the 1999 Constitution, the Acts Authentication Act, and established parliamentary practice, stressing that the exercise was purely administrative and did not suggest any defect in legislative authority.
“This administrative action is intended solely to authenticate and formally reflect legislative decisions,” the statements said, adding that certified true copies would be made available to stakeholders and the public.
However, former Vice President Atiku Abubakar described the situation as “a grave constitutional issue,” arguing that any law published in a form not passed by the National Assembly amounts to a nullity.
“A law that was never passed in the form in which it was published is not law,” Atiku said, warning that any post-passage alteration without legislative approval would constitute a constitutional breach.
Despite the controversy, President Tinubu, who is currently on vacation in Europe, reiterated his administration’s commitment to due process and pledged continued collaboration with the National Assembly to resolve any outstanding issues.
“These reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country,” Tinubu stated, adding that the new laws are aimed at harmonisation, structural reset, and strengthening the social contract, not increasing tax burdens.
The affected legislations include the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Joint Revenue Board of Nigeria (Establishment) Act 2025, and the Nigeria Revenue Service (Establishment) Act 2025.
Tinubu urged stakeholders to support the implementation phase, which he described as firmly in the delivery stage, assuring Nigerians that the reforms are designed to promote prosperity and shared responsibility.
Tinubu Rejects Calls to Suspend New Tax Laws, Insists Reforms Will Proceed
News
NAF Bombards Lakurawa, Bandit Camps in Zamfara after US airstrike
NAF Bombards Lakurawa, Bandit Camps in Zamfara after US airstrike
In a major escalation of counterterrorism operations across the North-West, the Nigerian Air Force (NAF) has carried out devastating precision airstrikes on notorious bandit enclaves in Zamfara State, coming on the heels of United States missile strikes that crippled Lakurawa terrorist camps in Sokoto.
The Air Component of Operation Fansan Yamma, Sector 2, executed two high-impact air interdiction missions at Turba Hill and the camp of feared bandit leader, Kachalla Dogo Sule, both located in Tsafe Local Government Area of Zamfara State. Several bandits were neutralised, while key operational facilities were destroyed.
Director of Public Relations and Information of the NAF, Air Commodore Ehimen Ejodame, described the strikes as a significant breakthrough in the sustained offensive against armed banditry.
He said the operations were intelligence-driven, relying on credible, multi-source intelligence and persistent surveillance. The first strike targeted Turba Hill, identified as a major bandit hideout. According to Ejodame, aerial reconnaissance revealed intense human activity and a zinc-roofed structure serving as the nerve centre of the enclave.
“Following positive identification, the target was engaged with precision. Post-strike assessments confirmed the complete destruction of the structure and the neutralisation of several bandits,” he said.
The second mission struck Kachalla Dogo Sule’s Camp, a notorious stronghold linked to the manufacture and deployment of improvised explosive devices (IEDs). Intelligence reports had connected the camp to recent deadly IED attacks along the Dan Sadau–Magami axis.
“The precision strike triggered intense fires that destroyed multiple active structures, effectively crippling the group’s IED production and operational capacity,” Ejodame added.
He noted that the airstrikes had significantly degraded bandit networks in Zamfara and reaffirmed the NAF’s commitment, in collaboration with other components of Operation Fansan Yamma, to denying criminal elements safe havens and restoring lasting peace across the North-West.
Army Confirms US Missile Strikes on Sokoto Terror Camps
Meanwhile, the Nigerian Army has confirmed that recent United States airstrikes targeted Lakurawa terrorist camps in Tangaza Local Government Area of Sokoto State, delivering a heavy blow to the group’s operational capability.
A senior Army Headquarters source disclosed that the strikes were conducted in coordination with US Africa Command (AFRICOM) following actionable intelligence on terrorist movements along the Kaurau axis. The missile strikes hit camps in the Bauni Forest near Waria and Alkassim villages on December 25.
Follow-up patrols carried out the next day confirmed extensive destruction of terrorist infrastructure. Troops later recovered missile debris in Kajiji town, Tambuwal LGA, Kebbi State, believed to be components of Tomahawk missiles.
Army engineers identified some of the debris as fuel boosters weighing about 300 kilograms, capable of penetrating soft ground up to two metres. The Army assured residents that investigations and recovery operations were ongoing and urged the public to report any suspicious objects.
Eight Killed as Terrorists Attack Kebbi Communities
Despite the military gains, terror struck Kebbi State as gunmen launched coordinated attacks on Kaiwa, Gelawu and Gebbe villages in Shanga Local Government Area, killing at least eight people and injuring several others.
The Kebbi State Police Command confirmed that seven victims died during the attacks, while another later succumbed to injuries in hospital. One injured person is currently receiving treatment.
Police spokesperson, CSP Bashir Usman, said security forces had intensified patrols and surveillance across the affected areas to prevent further attacks, though details of ongoing operations could not be disclosed.
Residents described the assaults as unprecedented and devastating, forcing many villagers to flee their homes in fear.
Troops Kill 80 Terrorists, Rescue 34 Victims Nationwide
In a broader update, the Nigerian Army announced that troops killed over 80 terrorists, rescued 34 kidnapped civilians and arrested several criminal suspects in coordinated operations across multiple states between December 25 and 29.
The operations spanned Borno, Adamawa, Sokoto, Katsina, Niger, Zamfara, Plateau, Delta, Cross River and the Federal Capital Territory.
In Borno State, air and ground offensives neutralised 57 terrorists and disrupted ISWAP/JAS networks, while operations in Niger and Katsina repelled coordinated attacks and recovered stolen livestock.
Troops also rescued kidnapped civilians in Kebbi and Plateau states, arrested illegal miners in the FCT, apprehended armed robbery suspects, and dismantled oil bunkering and piracy syndicates in Delta and Cross River states.
The Army said the successes underscore its resolve to sustain intelligence-driven operations, protect lives and property, and dismantle terrorist and criminal networks across the country.
News
Sokoto Operation: FG Reassures Investors, Says Nigeria’s Economy Remain Stable
Sokoto Operation: FG Reassures Investors, Says Nigeria’s Economy Remain Stable
The Federal Government has reassured investors, financial analysts, and international development partners that Nigeria remains peaceful, stable, and economically resilient despite concerns following a joint security operation in Sokoto carried out on Christmas Day.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the assurance in a statement issued on Sunday in Abuja, explaining that the operation—conducted in collaboration with the United States—was a targeted, intelligence-led action aimed solely at terrorist elements threatening national security and economic activities.
“What Nigeria is decisively confronting—alongside trusted international partners—is terrorism,” Edun said, stressing that the context of the operation was essential to understanding its broader economic implications.
He described the Sokoto operation as “precise, intelligence-led, and focused exclusively on terrorist elements that threaten innocent lives, national stability, and economic activity,” adding that the action was designed to strengthen security rather than unsettle financial markets or undermine investor confidence.
“Far from destabilising markets or weakening confidence, such actions strengthen the foundations of peace, protect productive communities, and reinforce the conditions required for sustainable economic growth. Security and economic stability are inseparable; every effort to safeguard Nigerians is, by definition, pro-growth and pro-investment,” the minister said.
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Edun noted that under the leadership of President Bola Ahmed Tinubu, Nigeria has recorded measurable progress in security improvements and economic reforms, reflected in key macroeconomic indicators.
According to him, Nigeria’s GDP grew by 3.98 per cent in Q3 2025, following a strong 4.23 per cent growth in Q2, with expectations of an even stronger performance in Q4 2025. He added that inflation has slowed for the seventh consecutive period and now stands below 15 per cent, attributing the improvement to coordinated fiscal and monetary policies.
The minister said Nigeria’s financial markets remain stable, with both domestic and international debt markets functioning efficiently under prudent fiscal management. He recalled that the country recently secured credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s, describing them as independent validation of the government’s reform agenda.
“We have maintained fiscal discipline, prioritised efficiency, and protected macroeconomic stability, demonstrating resilience in the face of external shocks,” Edun said.
Referring to President Tinubu’s recent national address, Edun stated that the administration’s focus for 2026 is to consolidate gains made in 2025, strengthen economic resilience, and sustain momentum toward inclusive and durable growth.
Assuring local and foreign investors ahead of market reopening on Monday, December 29, 2025, Edun said confidence in Nigeria’s economic direction remains justified.
“As markets reopen, investors can be confident that Nigeria remains reform-driven, stable, and focused on growth. The fundamentals are strengthening, the policy direction is clear, and this administration’s resolve to protect lives and secure prosperity is unwavering,” he said.
He concluded by reaffirming the country’s investment outlook: “Nigeria remains open for business, anchored in peace, and firmly focused on the future.”
Sokoto Operation: FG Reassures Investors, Says Nigeria’s Economy Remain Stable
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