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FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly
FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly
Presentation by His Excellency, President Bola Ahmed Tinubu, GCFR of the 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity to a joint session of the National Assembly on Wednesday 18th December, 2024.
PROTOCOLS:
— The Vice President, Senator Kashim Shettima
— Senate President, Distinguished Senator Godswill Akpabio
— Right Honourable Speaker, Tajudeen Abbas
— National Chairman of our great party, Excellency, Abdullahi Umar Ganduje
— State Governors here present
— Distinguished Leaders and Members of the National Assembly
— Senior Government Officials here present
— Gentlemen of the press.
My Fellow Nigerians,
1. In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 11th National Assembly.
2. On this day, before this hallowed chamber, I present to you the 2025 Budget at a time when our country is at a crucial point in its development trajectory.
3. The 2025 Budget Proposal again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.
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4. The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.
5. The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.
6. We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.
7. The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.
8. We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.
9. The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.
CURRENT ECONOMIC REALITIES AND PROGRESS
10. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly, I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.
11. The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.
12. Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.
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Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.
13. These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.
2024 BUDGET PERFORMANCE
14. I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:
14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.
21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.
15. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.
PHILOSOPHY OF THE 2025 BUDGET
16. The 2025 Budget seeks to:
Restore macroeconomic stability.
Enhance the business environment.
Foster inclusive growth, employment, and poverty reduction.
17. Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.
2025 BUDGET OVERVIEW
18. The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.
In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.
Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.
A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.
19. This is an ambitious but necessary budget to secure our future.
20. The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).
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21. These projections are based on the following observations:
Reduced importation of petroleum products alongside increased export of finished petroleum products.
Bumper harvests, driven by enhanced security, reducing reliance on food imports.
Increased foreign exchange inflows through Foreign Portfolio Investments.
Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
KEY PRIORITIES: REBUILDING NIGERIA
22. Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.
23. Highlights of the 2025 Budget Allocations:
• Defence and Security: N4.91 trillion
• Infrastructure: N4.06 trillion
• Health: N2.48 trillion
• Education: N3.52 trillion
24. As we embark on implementing the 2025 Budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing critical sectors essential for the growth and development we envision.
Securing Our Nation:
25. Security is the foundation of all progress. We have significantly increased funding for the military, paramilitary, and police forces to secure the nation, protect our borders, and consolidate government control over every inch of our national territory. The government will continue to provide our security forces with the modern tools and technology they need to keep us safe. Boosting the morale of our men and women in the armed forces will remain our government’s top priority.
26. The officers, men, and women of our Armed Forces and the Nigerian Police Force are the shields and protectors of our nation. Our administration will continue to empower them to defeat insurgency, banditry, and all threats to our sovereignty. Our people should never live in fear—whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses, and rebuild our communities.
Infrastructure Development:
27. When we launched the Renewed Hope Infrastructure Development Fund, it was with the conviction that infrastructure remains the backbone of every thriving economy. Under this programme, we are accelerating investments in energy, transport, and public works. By leveraging private capital, we hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which will have a huge impact on the lives of our people and accelerate economic output.
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Human Capital Development:
28. Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:
Our administration has so far disbursed 34 billion naira to over 300,000 students via the Nigeria Education Loan Fund (NELFUND). In the 2025 Budget, we have made provision for 826.90 billion naira for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.
We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated 402 billion naira for infrastructure investments in the health sector in the 2025 Budget and another 282.65 billion naira for the Basic Health Care Fund. Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians. This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.
Revitalizing Agriculture:
29. Increasing agricultural production is central to our food security agenda, but insecurity has crippled this vital sector. We are supporting our farmers with funding and inputs to reignite productivity. Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently, and none of our citizens will have to go to bed hungry.
30. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly and fellow Nigerians, our 2025 budget proposal is not just another statement on projected government revenue and expenditures. It is one that calls for action.
31. Our nation faces existential threats from corruption and insecurity and suffers from many past poor choices. These challenges are surmountable when we work collaboratively to overcome them. We must rewrite the narrative of this nation together, with every leader, institution, and citizen playing their part.
32. The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.
33. As your President, I remain committed and resolute to continue to lead the charge.
34. This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved.
35. It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly the 2025 Budget of the Federal Government of Nigeria titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity.
36. May God bless our Armed Forces and keep them safe. May God bless the Federal Republic of Nigeria.
Thank you.
Bola Ahmed Tinubu, GCFR
President, Commander-in-Chief of The Armed Forces, Federal Republic of Nigeria.
FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly
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How Kidnap of Adelabu’s Sister, Twins Was Planned – Suspects Confess Insider Role
How Kidnap of Adelabu’s Sister, Twins Was Planned – Suspects Confess Insider Role
IBADAN – In a shocking revelation, suspects arrested over the kidnap of former Minister of Power Chief Adebayo Adelabu’s sister, Mrs. Olaide Busayo Adegoke, and her twin sons have confessed how they meticulously planned the operation. The kidnap suspects disclosed that the initial plan was to abduct the ex-minister’s mother, but the plot later shifted to his sister and her 12-year-old twin boys.
The Oyo State Police Command, in collaboration with the Force Intelligence Department-Intelligence Response Team (FID-IRT) , paraded the suspects following a dramatic rescue operation on June 6, 2026. The victims were freed unharmed from a hideout in the Lado Community, Ayegun area of Ibadan.

Mrs Olaide Busayo Adegoke John-Paul and her twins
Police investigations revealed that the kidnapping was orchestrated from within. A personal assistant identified as Shehu allegedly provided the gang with critical inside information about the family’s daily routine, lifestyle, and security lapses. “He was the one who was first approached to give them inside information of how the family lives, their lifestyle, their routine and all,” said CSP Olayinka Ayanlade, Oyo State Police Public Relations Officer. The insider information allowed the gang to conduct weeks of surveillance, photographing the victims’ vehicles and monitoring the children’s school route.
Investigators also uncovered that the kidnap syndicate tried to recruit a household staff member named Segun in May 2026. When that attempt failed, the gang resorted to direct surveillance before executing the abduction on June 3, 2026. Segun Balogun a.k.a. Alawaye, a commercial driver from Iwo Road Motor Park in Ibadan, eventually joined the gang as a driver. He confessed to transporting the gang leader, Adewale Abolarinwa a.k.a. Oloro, to the residence where Adelabu’s extended family members live. “Alawaye applied his driving skill to conveying members of the kidnap gang to their operations and taking the victims to the safe house prepared for them,” a police source revealed.
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At about 7:30 a.m. on June 3, 2026, Mrs. Adegoke, 42, was driving her twin sons to school along Elewura Street, off Ring Road, Ibadan, when four armed men in an unregistered ash-coloured Toyota Corolla intercepted her vehicle. The abductors whisked them away to a three-bedroom bungalow in Ayegun area. The gang had initially planned to abduct the ex-minister’s mother, but surveillance showed that the twins’ mother often drove them to school — making her a more accessible target.
Following a distress call, the Inspector-General of Police deployed the FID-IRT and tactical teams from Oyo State Command. The breakthrough came with the arrest of Wale Abolalewa (alias “Oloro”) , who was already on the police watchlist. On June 6, 2026, at about 7:30 p.m. , operatives stormed the gang’s hideout in Lado Community. A lookout named Kelechi, who had travelled from Lagos State, opened fire on the security forces. Kelechi and another unidentified gang member were neutralized during the ensuing gun battle. The victims were found unharmed inside the bungalow.
Police arrested four suspects in connection with the kidnapping: Wale Abolalewa (“Oloro”) , the gang leader; Dare Oyedele (“Solution”) ; Semiu Ishola, 39; and Adeyemi Ayobami, 35. Items recovered from the suspects include three pump-action rifles, 14 live cartridges, an unregistered ash-coloured Toyota Corolla, a battle axe, hammer, face masks, substances suspected to be hard drugs, and criminal charms.
The police have cleared Oyo State APC governorship hopeful Senator Sharafadeen Alli of any involvement in the abduction, stating that no evidence linked him or the APC to the kidnap syndicate. However, investigators reportedly traced the operation to individuals described as associates of Ajiboye Sangogade, Personal Assistant to Chief Adebayo Adelabu. But Adelabu’s camp has dismissed the allegations, describing them as “false, malicious, and politically motivated.” In a statement on June 9, 2026, Adelabu’s media aide, Femi Awogboro, insisted that Sangogade’s name was never mentioned in the official police briefing as part of the kidnapping syndicate.
Oyo State Commissioner of Police, Abimbola Olugbenga, disclosed that some gang members escaped during the raid, possibly with gunshot injuries. He has urged hospitals, clinics, and traditional healers to report anyone presenting suspicious wounds. “Investigations are ongoing to apprehend other members of the syndicate,” CP Olugbenga assured the public.
How Kidnap of Adelabu’s Sister, Twins Was Planned – Suspects Confess Insider Role
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Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction
Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction
SOKOTO – Scores of traders, farmers and travellers have been abducted on a road leading to Sabon Birni Market in Sabon Birni Local Government Area of Sokoto State, in the latest wave of violence to grip the northwestern state, where at least 15 communities remain deserted following coordinated attacks.
Residents said the attackers blocked a major route linking Sabon Birni and surrounding communities before launching their assault. An eyewitness, who requested anonymity, said the gunmen arrived at about 10am on Wednesday on nearly 20 motorcycles and opened fire, causing panic among people heading for the weekly market.
“We were sitting near the bridge when we saw them approaching on motorcycles. They started shooting from different directions and abducted travellers, farmers and some women working on nearby farms,” he said.
The witness said at least 20 people were taken away during the attack, describing the abduction in harrowing detail.
“It happened right before my eyes. Some of the victims were forced onto motorcycles and taken into the forest. When the motorcycles became full, the bandits tied some victims together in pairs and marched them into the bush on foot. Men were tied to men using their clothes, while women were tied together with their hijabs. Gunshots were everywhere,” he said.
The attackers did not enter Sabon Birni town itself but operated around an area known as Mangwaron Bullun, a junction connecting several communities, including Katsira, Zakin Ganga, Maskin Wuya, Garin Dango, Garin Gardi, Garin Bage and Zududu among others.
A son of one of the victims, identified only as Abdurrashid, told reporters that his mother was among those abducted while working on a farm. He said his father was ill and unable to provide for the family, leaving his mother as their main source of livelihood.
“My mother was working on the farm when they took her. Because my father is sick, she is the one taking care of us. I have now taken my younger siblings to stay with our grandparents,” he said.
Another resident said the exact number of victims remained unclear as many families were still trying to account for their relatives. “Some people may only be discovered missing after the closing of the market, when they fail to return home. Since Wednesday is the day of the Sabon Birni market, many of those abducted were traders heading there for business,” he said.
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The Wednesday abduction follows another attack on Sabon Birni town just days earlier. On Monday night, June 8, suspected bandits attacked the community, killing a member of the Sokoto Community Guards and abducting several residents from Kantin Gabas, located on the outskirts of Sabon Birni town near the community’s Eid prayer ground. A resident claimed that about 10 people were abducted during that attack, adding that it was the third attempted invasion of Sabon Birni using the same route.
When contacted, the member representing Sabon Birni Constituency in the Sokoto State House of Assembly, Aminu Boza, said he would verify the incident. However, he had not provided further details as of the time of filing this report despite repeated follow-up calls. Efforts to obtain comments from the spokesperson of the Sokoto State Police Command, DSP Ahmad Rufai, were unsuccessful as calls to his phone were neither answered nor returned.
In a separate operation on Wednesday night, police operatives from the Violent Crime Response Unit (VCRU) and the Anti-Kidnapping Unit successfully repelled an armed bandit attack on Bodinga Village in Bodinga Local Government Area. Security operatives engaged the attackers in a prolonged gun battle, neutralising three suspected bandits and recovering one AK-47 rifle, one magazine and 25 rounds of live ammunition. The Command confirmed that no civilian or security personnel casualty was recorded during the operation.
Earlier on June 4, troops of Operation Fansan Yamma and the 8 Division of the Nigerian Army successfully repelled separate attacks by suspected Lakurawa terrorists and bandits in Sokoto State, rescuing two kidnapped farmers from Tidibale village in Isa Local Government Area. Troops also foiled an attack on the Magonho community in Tangaza Local Government Area, though one civilian sustained a gunshot injury during the exchange of fire.
The abductions come less than two weeks after bandits killed at least 17 people, including seven visitors who had travelled for the Eid-el-Kabir celebrations, when they attacked Dangulbi community in Tureta Local Government Area on May 31. Residents said the attackers, armed with sophisticated weapons and riding on about 150 motorcycles, stormed the community on Sunday morning, opening fire on villagers, looting approximately 20 shops and forcing many residents to flee into nearby forests.
The victims included identified residents such as Munde, Nagoma, Abdullahi, Danbala, Munden Chana, Muhammadu Dan Amo, Hassan, Abubakar Danbaba and Yidi Bafillace. Five of the victims were Sallah visitors from Adarawa in Gummi LGA of Zamfara State, while two others were visitors from Gidan Gambo in Shagari Local Government Area, bringing the total number of visitors killed in the attack to seven.
“The bandits remained in the community for several hours after the attack, preventing villagers from recovering and burying the dead until late in the evening. Funeral prayers were eventually conducted after 9:30 p.m. when they left,” one resident said. Many residents have since fled Dangulbi and surrounding communities, seeking refuge in safer areas across Tureta, Shagari, Gummi and Bukkuyum Local Government Areas.
Amnesty International has condemned the killing, calling on Nigerian authorities to urgently investigate the attack, bring those responsible to justice, and strengthen protection for vulnerable communities. “The Nigerian authorities must urgently investigate this attack, ensure that those responsible are identified and brought to justice in fair proceedings, and take immediate steps to protect communities that remain at risk,” the organisation said in a statement.
The recurring attacks have forced residents to abandon their homes across multiple local government areas. According to a report by Daily Trust on June 5, no fewer than 15 communities have been deserted following coordinated bandit attacks carried out between May 31 and June 3 in Tureta and Sabon Birni local government areas. Residents told reporters that at least 52 people were killed in the attacks, including 46 in Tureta LGA communities and six others in Sabon Birni LGA, while hundreds of residents were displaced and dozens of houses destroyed.
Deserted communities in Tureta LGA include Dan Gulbi, Dansanberu, Jandutsi, Baga, Barayar Giwa, Birisawa, Mallanje and Ketare. In Sabon Birni LGA, displaced residents identified affected communities as Gangara, Dantasakko, Kube, Garin Idi, Rigo, Shadawa and Makwarruwa. A religious leader from Gangara community, who is currently displaced, said: “Our entire community has been displaced. We had no option but to leave because of the constant attacks. Several neighbouring villages have also been abandoned.”
In a separate development, the Sokoto State Police Command foiled a bandit attack on Imasa Matankari village in Tureta Local Government Area on June 2, recovering 25 cattle rustled during the assault. Security operatives from the VCRU, Anti-Kidnapping Unit, and personnel of the Nigerian Army’s Forward Operating Base responded to a distress call, engaging the attackers in a gun battle. The fleeing bandits abandoned all the stolen livestock during their retreat. “All 25 rustled cows were recovered in full and have since been returned to their rightful owners,” the command stated, adding that no lives were lost during the operation.
The recurring attacks have raised concerns over the worsening security situation in Sokoto State and its potential impact on farming activities ahead of the rainy season. Residents have appealed to both the federal and state governments to urgently deploy additional security personnel and improve road infrastructure in the area, arguing that poor access roads often delay security responses and leave communities vulnerable to repeated attacks. The Commissioner of Police in Sokoto State, CP Hayatu Hassan Shaffa, has called on residents to support security agencies with credible information, urging members of the public to promptly report suspicious movements and individuals receiving treatment for gunshot injuries.
Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction
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Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja
Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja
Human rights activist and former presidential candidate, Omoyele Sowore, was reportedly hospitalised on Friday after collapsing during a Democracy Day protest in Abuja, following the alleged deployment of tear gas by security operatives.
The incident occurred during a demonstration organised by activists and civil society groups to commemorate June 12 Democracy Day and draw attention to pressing national issues, including rising insecurity, economic hardship, governance concerns, and the plight of abducted schoolchildren.
Witnesses said protesters gathered peacefully at Berger Junction before marching toward the Federal Secretariat and Eagle Square. However, the protest reportedly turned chaotic when security personnel fired tear gas canisters into the crowd as demonstrators approached the venue.
The deployment of tear gas triggered panic, forcing protesters and passersby to flee the area. Several participants reportedly suffered breathing difficulties, eye irritation and other effects commonly associated with exposure to tear gas.
Among those affected was Sowore, who was leading the protest. Eyewitnesses said the activist inhaled a significant amount of tear gas and later slumped at the scene. Videos circulating on social media showed fellow protesters rushing to assist him before moving him away from the affected area.
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Sources at the protest venue said Sowore later regained consciousness and was taken to a hospital for medical evaluation and treatment. Although reports suggested his condition had stabilised, there was no immediate official statement from his aides regarding his health status.
Witnesses also alleged that security operatives fired additional tear gas canisters while protesters were attempting to assist Sowore, further escalating tensions and dispersing the crowd. The incident reportedly affected motorists, traders and residents around the protest route.
Despite the disruption, some demonstrators regrouped and continued the protest, insisting that citizens have a constitutional right to peaceful assembly and expression.
The development has sparked fresh criticism from civil society organisations and human rights advocates, who argue that the use of force against peaceful protesters undermines democratic principles and civil liberties.
The Nigeria Police Force had yet to issue a detailed statement on the circumstances surrounding the deployment of tear gas or Sowore’s reported collapse as of the time of filing this report.
The incident is the latest in a series of confrontations involving security agencies and protesters in the Federal Capital Territory, reigniting debates over crowd-control tactics and the protection of fundamental rights in Nigeria.
Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja
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