Tinubu rejects bill on National Assembly Library Trust Fund

President Bola Ahmed Tinubu has declined assent to the National Assembly Library Trust Fund (Establishment) Amendment Bill, 2025, citing conflicts with existing federal laws and policies.

In a letter addressed to the Speaker of the House of Representatives and read by the Speaker on Tuesday, Tinubu said while he acknowledged the laudable objectives of the proposed legislation, several provisions in the bill were inconsistent with settled laws and policies of the federal government.

According to the President, the bill contained clauses relating to funding mechanisms for agencies under the National Assembly, taxation of national entities, public service remuneration, as well as age and years of service, which he said could establish a dangerous and unsustainable precedent.

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“Notwithstanding the laudable objectives of the legislation, certain provisions contained therein go against the settled law and policies of the federal government of Nigeria as it relates to funding of agencies under the National Assembly, taxation of national entities, public service remuneration, as well as age and year of service, among others,” Tinubu stated.

He warned that enacting the bill into law in its current form would not only contradict existing governance frameworks but also work against the public interest.

“If this bill becomes law, these provisions will establish an unsustainable precedent against the public interest,” the President added.

Consequently, President Tinubu formally informed the House that he would not be granting presidential assent to the legislation and urged lawmakers to review and address the identified issues.

“I hope that the House of Representatives will take necessary steps to fix the identified issues with the legislation,” the letter read.

Daily Trust reports that the National Assembly Library Trust Fund Amendment Bill, 2025, is among others, designed to strengthen the operations and financing of the legislative library system.

Tinubu rejects bill on National Assembly Library Trust Fund

FG fails to meet Q1 revenue target, records N6.9tn

The Federal Government has reported a revenue performance of ₦6.9 trillion in the first quarter of 2025, reflecting a 33% increase compared to the ₦5.2 trillion generated in Q1 2024.

Despite this impressive year-on-year growth, the figure falls short of the pro-rata revenue target of ₦10 trillion, representing a ₦3.1 trillion shortfall, or 31% below expectations.

This gap raises concerns about the government’s ability to meet its fiscal obligations, with debt financing likely to be explored as a stop-gap measure. As of December 31, 2024, Nigeria’s total public debt had already reached ₦144.67 trillion, according to data from the Debt Management Office (DMO).

President Bola Tinubu, in late May, requested the National Assembly’s approval to secure fresh $24.14 billion. The new loan might have pushed the nation’s total debt to N183 trillion.

Wale Edun, minister of finance and coordinating minister of the economy, stated this during the Q2 2025 Citizens and Stakeholders’ Engagement Session in Abuja, where he outlined the administration’s efforts to stabilise the economy, curb inflation, boost investment, and rebuild confidence in Nigeria’s fiscal outlook.

He noted that the jump in revenue reflects the early gains of ongoing economic and institutional reforms.

He noted that the administration is now targeting a seven percent gross domestic product (GDP) growth rate, leveraging improved revenue collection, fiscal discipline, and private sector-led growth to achieve broader economic stability.

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Edun also noted that recent indicators, including rising external reserves, improved revenue performance and inflation reduction point to a positive trajectory, with reforms already laying the groundwork for sustained and inclusive growth.

Edun described Nigeria’s current economic phase as one of stabilisation and recovery following bold structural reforms initiated at the beginning of the Tinubu administration.

He said reforms such as the adoption of market-based pricing for foreign exchange and petroleum products have restored investor confidence and created a more transparent environment for economic activity.

The minister stated that those early measures, though challenging, were critical in attracting domestic and foreign investment, as they created a predictable and rules-based system that entrepreneurs, businesses, and even startups could rely on.

He noted that the economy has now entered a third phase, which focuses on deepening investments to drive productivity in sectors such as agriculture, manufacturing, and services, with the ultimate goal of reducing multidimensional poverty.

Citing a recent visit by Shell executives, Edun revealed that the oil giant plans to invest $5.5 billion in Nigeria this year, countering perceptions that major players are pulling out of the country.

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According to him, the current economic environment has become more attractive and stable, encouraging further investments across key sectors.

The minister emphasised that while Nigeria’s real GDP growth is currently between 3.4 and 3.8 percent, this is still below the government’s target.

Recent data from the National Bureau of Statistics (NBS) show that inflation has begun easing, with the latest figure at 22.97 percent.

Edun said this downward trend signals that the country is moving in the right direction, commending the Central Bank of Nigeria (CBN)’s market-based forex policy for helping to eliminate the black-market premium, which previously allowed individuals to exploit exchange rate arbitrage.

“With that gap narrowed, speculative activity has reduced, and investor confidence has grown,” he added.

Nigeria’s external reserves have also improved significantly, rising from a low of about $3 billion to over $23 billion in two years.

On the fiscal side, Edun disclosed that revenues increased from N12.5 trillion in 2023 to nearly N21 trillion in 2024, driven by aggressive reforms, digital systems, and tighter control of leakages.

He said the government holds daily fiscal review meetings to ensure consistency in data from the DMO, Budget Office, and the Office of the Accountant General.

Edun explained that revenue from the federation account has grown, translating to increased allocations to states and local governments.

“Nigeria’s macroeconomic progress has not gone unnoticed. International credit rating agencies Fitch and Moody’s have upgraded the country’s ratings.

FG fails to meet Q1 revenue target, records N6.9tn

Int’l Widows’ Day: Foundation calls for legal, economic support for widows

Lagos, June 23: A non-governmental organisation, Pa Philip Akintoye Development Foundation (PAPADEF), has called on the Federal Government to urgently review and amend laws that continue to harm widows across the country.

The Chief Executive Officer (CEO), PAPADEF, Mr Akintoye Festus, made the call in a statement on Monday in Lagos, to commemorate the International Widows’ Day.

The day, observed by the United Nations since 2011, is celebrated annually on June 23, to raise awareness about the challenges widows face and to push for their rights to be respected and protected.

Festus said that the theme for this year’s commemoration is, “Beyond Grief: Rebuilding Lives, Strengthening Communities, and Challenging Stigma.”

According to Festus, the theme calls for urgent attention to the many challenges widows face every day—especially in rural areas where harmful traditional practices remain common.

The PAPADEF CEO noted that many widows in Nigeria are suffering in silence due to outdated laws and cultural practices that deny them inheritance rights, economic opportunities, and protection.

Festus said that it was time to include widows in national development plans and policy-making processes.

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“Widows are part of our society — they are mothers, caregivers, and contributors to the economy. But many are treated unfairly and pushed aside.

“Many widows are treated unfairly after losing their husbands. Some are denied access to property, forced into harmful rituals, blamed for their husbands’ deaths, and pushed into poverty,” he said.

Festus noted that thousands of widows are left homeless, jobless, and in deep emotional distress after losing their husbands, with little or no legal support.

“Some widows are still being forced to undergo harmful traditional practices or blamed for their husbands’ deaths. These things must stop,” he said.

He described the situation as a hidden crisis, with millions of women suffering in silence.

Festus said that although there are between 15 and 21 million widows in Nigeria, many of them remain invisible in national planning, data collection, and public discourse.

He urged lawmakers to harmonise civil and customary laws, particularly around inheritance and property rights, to stop the cycle of abuse and neglect.

The PAPADEF CEO said that real change can only happen when widows are protected by law and empowered to rebuild their lives.

He stressed that widows are not weak or helpless—they are mothers, caregivers, farmers, teachers, and entrepreneurs who just need support to live in dignity.

“Widows are not looking for pity. They want the right to live freely, to earn a living, and to raise their children in peace,” Festus added.

Festus also encouraged the government to include widows in poverty alleviation programmes, job creation schemes, and health and social services.

He said: “No widow should be invisible in our development plans. Their voices matter, their lives matter.”

He explained that widows often face serious problems like loss of property, no access to healthcare or education, and are sometimes victims of violence or forced remarriage.

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Festus said that many widows are hardworking mothers, businesswomen, and caregivers but are often treated as if they do not exist.

“Widows are not invisible, and their pain should not be ignored. We must see them, hear them, and support them,” he added.

Festus advised that widows should be given economic help, such as business support and job training.

He called for the provision of mental health support, grief counseling and legal services, especially in rural areas.

He also recommended the inclusion of widows in leadership and policy-making roles.

The PAPADEF CEO also appealed to traditional and religious leaders to speak out against dehumanising widowhood practices and help build a more compassionate culture.

“Ending stigma starts with changing how we think and talk about widows. We need to listen to their stories and support their journeys,” Festus said.

He said that the foundation would continue to fight for widows and ensure no woman is left behind.

“Let this International Widows’ Day be more than a ceremony. Let it spark real change. We want a Nigeria where widows are not shamed or ignored, but respected and empowered,” he said.

PAPADEF, is an NGO working for women, children, and community development, and has supported over 500 widows in Nigeria through legal help, business training, health services, and mental health support.

Int’l Widows’ Day: Foundation calls for legal, economic support for widows