The Senate has passed the 2026–2028 Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, paving the way for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at N54.4 trillion, later this week.

The passage followed the consideration and debate of a report presented by the chairman of the Senate Committee on Finance, Senator Sani Musa, during plenary on Tuesday.

Senate President Godswill Akpabio, announcing the approval, described the MTEF as a statutory requirement that must precede the presentation of the national budget.

Akpabio stressed that it does not represent the final position of the legislature.

“The Medium-Term Expenditure Framework is only a prerequisite before the presentation of the budget. What we are discussing here is not a finality. If circumstances change, it will be brought back to us to rejig, react or act,” Akpabio said.

According to him, the passage of the framework would enable the National Assembly to receive the 2026 budget proposal between now and Thursday.

The President of the Senate further explained that the document remains open to review once the full budget is formally laid before lawmakers.

He said he is optimistic that the projections contained in the MTEF would be realistic enough to support the effective implementation of the Federal Government’s Renewed Hope Agenda.

DAILY POST reports that Tinubu had earlier transmitted the 2026–2028 MTEF and Fiscal Strategy Paper to the National Assembly, marking the official commencement of the 2026 budget cycle.

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The Nigerian Senate has passed the 2026 – 2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), projecting a massive aggregate expenditure for the upcoming fiscal year.

The document, which serves as the statutory blueprint for the 2026 Appropriation Bill, was approved on Tuesday following the consideration of the report presented by the Chairman of the Senate Committees on Finance, Senator Mohammed Sani Musa (APC – Niger East).

The passage clears the way for President Bola Tinubu to present the formal 2026 budget proposal to the National Assembly, which is expected to happen between now and Thursday, according to Senate President Godswill Akpabio.

Also, the Senate approved the sum of US$64.85 per barrel as the oil benchmark, projected aggregate revenue of ₦34.33trillion, Fiscal Deficit of N20.13 trillion, Borrowings at ₦17.88trillion, Debt Service of ₦15.52 trillion, and Pensions, gratuities, retirees’ benefits of N1.376trillion.

Akpabio described the MTEF as a prerequisite for the presentation of the national budget, underpinning that the document does not represent a final position of the legislature.

“The Medium-Term Expenditure Framework is only a prerequisite before the presentation of the budget. What we are discussing here is not a finality. If circumstances change, it will be brought back to us to rejig, react or act,” he said.

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• The National Chairman, Maxwell Mgbudem, presented the certificate in Abuja. Mgbudem urged Falegan to form a grassroots-oriented campaign team, emphasizing the need to uphold democratic values.
• The Accord Party officially presented its Certificate of Return to Opeyemi Falegan, confirming him as the party’s candidate for the June 2026 Ekiti State governorship election.
• Falegan, in turn, criticized the current Ekiti administration as a “government of ex-governors, by ex-governors, for ex-governors,”

The Accord Party has formally presented its Certificate of Return to Opeyemi Falegan, confirming him as the party’s candidate for the June 2026 Ekiti State governorship election.

The presentation took place on Tuesday at the Accord Party headquarters in Abuja and was done by the National Chairman, Maxwell Mgbudem. Falegan emerged as the flagbearer following the party’s primary held on November 8, 2025.

Party Expectations and Campaign Focus

National Chairman Mgbudem congratulated Falegan, citing his victory as a testament to his resilience, integrity, and political acumen. Mgbudem expressed optimism about winning the 2026 election.

Mgbudem instructed Falegan to form a grassroots-oriented campaign team, emphasizing adherence to the party’s constitution and manifesto, and to maintain the highest democratic values. He specifically said: “The campaign should maintain the highest democratic values, ethics, and ideals,”.

Falegan’s Promises

Falegan thanked the delegates and outlined his campaign focus, which includes agriculture, education, youth employment, and infrastructure. He promised to empower 48,000 youths over four years and fix major roads in Ekiti within six months.

Criticizing the current administration, Falegan alleged the state is run as a “government of ex-governors, by ex-governors, for ex-governors,”. He pledged to create jobs and entrepreneurs to transform Ekiti’s economy.

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Nigeria on Monday joined most countries worldwide in voting in favour of a resolution that reaffirms the right of Palestinians to self-determination.

The UN General Assembly voted in favour of the resolution affirming the right to an independent State of Palestine.

A total of 164 member states, including all 54 African countries that are members of the UN, voted in favour of the resolution.

In total, only eight countries voted against the resolution. These are: Israel, the United States, Micronesia, Argentina, Paraguay, Papua New Guinea, Palau, and Nauru.

The resolution reiterated long-established United Nations positions affirming the Palestinian people’s right to self-determination and to pursue their economic, social, and cultural development.

It also called on all states, UN specialised agencies and bodies across the UN system to continue providing support and assistance to the Palestinian people in the early realisation of this right.

It stressed the need to respect the territorial unity, contiguity, and integrity of the occupied Palestinian territory, including East Jerusalem.

This resolution comes a few days after the UN backed the resolution demanding that Israel lift restrictions on humanitarian access to the Gaza Strip.

The assembly had also asked Israel to cease attacks on UN facilities, and to comply with international law, in line with its obligations as an occupying power.

But Israel’s ambassador to the UN, Danny Danon, accused the assembly of passing a resolution that compels Israel to cooperate with terrorism.

The Israeli Prime Minister, Benjamin Netanyahu, has long rejected the establishment of a Palestinian state.

Previous call for a Palestinian state

Nigeria is among the countries that have repeatedly called for a two-state solution to end the Israel-Hamas war, which has led to the death of thousands of Palestinians.

At the UN General Assembly held in September, Nigeria’s Vice President, Kashim Shettima, said Palestinians must be granted equal freedom and dignity as granted to citizens of every other state.

PREMIUM TIMES reported that, while addressing the assembly, Mr Shettima said the Palestinian community does not deserve to be subjected to prolonged conflicts and the devastating humanitarian crisis it has endured.

“They are human beings, equal in worth, entitled to the same freedoms and dignities that the rest of us take for granted,” he said.

During the event, several European countries, including the UK, Canada, and Australia, officially recognised Palestine as an independent state.

READ ALSO: El-Rufai debunks 2027 southern presidency call claim

Infuriated, Mr Netanyahu described their actions as “an absurd prize for terrorism.”

He vowed that “a Palestinian state will not be established west of the Jordan River.”

He said Israel would have to fight at the United Nations and other international forums against “slanderous propaganda.”

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• A Nigerian lady was super excited as she showed what she received at her company for end of the year Christmas bonus
• The items got people talking as she posted a video of employees receiving their goodies, which she said the company produced
• Many reacted as she confirmed the name of the company, sparking enquiries and mixed reactions from netizens online

A Nigerian lady got people talking as she showed the items her company gave her and other employees for Christmas.

She posted the sharing process on her TikTok page, showing how the items were shared to the employees.

Lady Shows Items Company Gave Staff Members as Christmas Bonus, Mentions Name of Firm
Source: TikTok

Lady shows items for company’s Christmas bonus

In a video by @ajoke_omoalhaja, the lady stated that her company gives cartons of their products to staff at the end of the year.

The items shared included cartons of noodles, jars of oil, and other provisions packaged in sealed bags and cartons.

Read also

Lady prostrates to celebrate husband who sponsored her UK master’s degree, video melts hearts

She captioned the video:

“Involve you ke. You wey your company dey share just half bag of rice and 2 ltrs of oil. Show me a company that shares all brands to their staffs as a gift.”

In the comments, she confirmed that the company’s name was Multipro Consumer Products Limited.

She added in the comments:

“My company don’t share 20kg rice every 3 months but they share noodles worth 20k monthly and other brands, can you beat that?. I just want to inform you again that our company provided all staff with all the brands we produce.”

Watch the TikTok video below:

Reactions trail lady’s company Christmas Bonus

ibidunni 🌸

Multipro family

RCHP_LIFAH🩺💊💉

we the government workers can’t relate oo

blank_heart

Abeg vacancy dey your company,I go manage any position as far I go collect this package

Crownstar

na rice and layers dem dey share. BUT, DOES YOUR COMPANY SHARE 20KG RICE EVERY 3 MONTHS? Lol, mine does

Read also

Ugandan lady overjoyed as she gets Nigerian visa to travel, shares trip experience: “Land of giants”

Annie berry

See as straight hit me and my company 🥺🥺🥺abeg waybill one pack of the noodles come this side

Source: Legit.ng

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Senator Ned Nwoko has rejected recent social media claims by his estranged wife, actress Regina Daniels, regarding their children, saying she has not been denied access to them.

He stated that Daniels’ absence from the children’s lives was by choice and guided by existing court directives, not deliberate restriction.

Court ruling and rehabilitation order

In a statement shared on his X account on Tuesday by his communications team, Nwoko said a court had already ruled on the matter.

According to him, the court directed Daniels to undergo rehabilitation and assessment by the Abuja Social Welfare Department before access to the children could be restored.

He described Daniels’ recent posts as “misleading and inconsistent with long-established family practice.”

“The recent posts by Regina present a version of events that is both misleading and inconsistent with long-established family practice.

“Publicly sharing moments involving the children has never been new, unusual, or controversial within the family,” the statement said.

The statement added that suggestions she had been excluded from the children’s lives were “equally misleading.”

Children’s welfare and stability

Nwoko stressed that the children have always been raised in an environment focused on routine, emotional balance, and stability.

“Children deserve a parent who is emotionally present, mentally sound, and sober most of the time. This is not an unreasonable expectation; it is the minimum standard of care any parent owes their children,” the statement added.

The senator was responding to a post made by Daniels on Monday, where she spoke about the emotional pain of being separated from her children.

She said no mother could be at peace under such circumstances and expressed hope of reuniting with them soon.

“I may be young, but I am such a mum, I enjoy being a mum and I miss being a mum. I will definitely see my kids soon!”

Adjournment and compliance call

Nwoko further referenced the court’s decision, saying: “The ruling was resolved in favour of Senator Ned Nwoko, with clear directions that Regina Daniels must undergo drug rehabilitation and be assessed by the Abuja Social Welfare Department before access can be restored to Munir (5) and Khalifa (3), the children of the marriage.

“The matter has been adjourned to 4 February 2026 for hearing of the substantive suit.”

He urged Daniels to comply fully with the court’s directives, warning that continued online commentary risked “using the children as emotional shields to deflect from unresolved personal issues.”

Nwoko concluded by expressing hope that the period ahead would be used for recovery and healing, rather than renewed online controversy.

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The African Democratic Congress (ADC) has strongly criticised the Supreme Court over its recent ruling affirming the President’s power to suspend elected governors and state assemblies during a state of emergency, warning that the judgment poses a grave threat to Nigeria’s federalism and democratic order.

In a statement issued on Tuesday and signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party described the decision as one that effectively creates a “constitutional tyrant” by concentrating excessive powers in the Presidency.

According to the ADC, although the ruling appears “academic” on the surface, its implications are far-reaching and dangerous.

“Although the ruling appears innocuously academic, it represents a potential inflection point in our democratic development, one that may alter the nature of our democracy forever,” Abdullahi said.

The party noted that the apex court held that once a state of emergency is declared, the President has the discretion to determine the measures required to restore peace and security, including taking what it termed “extraordinary measures.”

ADC argued that such wide discretion could be easily abused.

“The obvious implication of this position is that the President, or his agents, could contrive a security situation in any state whose governor is deemed ‘unfriendly’ and proceed to suspend both the Governor and the State House of Assembly,” the statement read.

The opposition party said the judgment contradicts the constitutional principle that no arm or tier of government is superior to another, insisting that its practical effect places state governments firmly under presidential control.

“The clear effect of the ruling grants the President firm control over the political conduct of state governors. This is an extremely dangerous threat to Nigeria’s federalism and democracy,” Abdullahi stated.

ADC also questioned the safeguards cited by the Supreme Court to prevent abuse of presidential powers, including proportionality, legislative oversight, and judicial review.

“When confronted with a President willing to do anything to retain power, proportionality is clearly out of the question,” Abdullahi said, alleging that the current administration has shown intolerance toward opposition parties.

On legislative oversight, the party claimed that the National Assembly has been weakened.

“With the President’s effective conquest of the National Assembly, and a legislature that has shamefully reduced itself to a mere appendage of the Presidency, legislative oversight is equally implausible,” the statement added.

The party further argued that judicial review has been compromised by the ruling itself.

“This very judgment has settled any doubt as to the nature of review that is now possible, when the highest court prioritises the letter of the law over its spirit,” Abdullahi said.

ADC warned that the country is sliding toward what it described as “constitutional tyranny,” a form of autocracy achieved through legal mechanisms rather than military coups.

“Constitutional tyranny does not always arrive through military coups. It often advances gradually, as rulers steadily erode democratic norms and institutions,” the party cautioned.

The statement concluded that recent developments have shown that neither the legislature nor the judiciary can be relied upon to halt what it described as Nigeria’s democratic decline.

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The second term bid of President Bola Ahmed Tinubu yesterday got a boost, as a support group, Bola Ahmed Tinubu (BAT) Vanguard endorsed him and pledged to deliver 10 million votes to secure the President’s second term in the 2027 general election

Members of the group unanimously endorsed the president at the group’s end-of-year party and special recognition awards ceremony in Abuja with the theme: “Standing Firm for Renewed Hope: The BAT Vanguard Mandate.”

The Convener of the group and chairman of the board of Nigeria Social Insurance Trust Fund (NSITF), Hon. Sola Olofin said the president’s endorsement was informed by the need to avail the country another opportunity for a “performing, capacity, vision and proven leadership”, which he said are the hallmarks of Tinubu’s administration since 2023.

He disclosed that the BAT Vanguard is launching a major national social investment initiative inspired by the Renewed Hope vision which will begin in 2026 with a targeted social assistance programmes to support about 50,000 vulnerable households nationwide with food items, school materials and basic welfare support. 

Applauding the President, Olofin noted that Tinubu should be commended for taking bold decisions that were postponed for decades but necessary to reset the economy and secure Nigeria’s future.

“From critical fiscal reforms and subsidy rationalization, to restoring investor confidence, stabilizing monetary policy, accelerating infrastructure development, and redesigning social investment programmes, the direction is clear that Nigeria is being rebuilt deliberately, systematically, and with vision.

“We believe the reforms must be consolidated. And we believe President Tinubu remains the best leader to complete this transformation. As we look ahead to 2026, BAT Vanguard is repositioning itself not just as a campaign structure but as a governance-support institution.

“We are set to embark on a structured monitoring and evaluation engagement across key Ministries, Departments, and Agencies to support compliance with the Renewed Hope Agenda. This is not to antagonize any appointee but to strengthen delivery, accountability, and citizen confidence.

“As we move toward 2027, our objective is clear and measurable: to mobilize and deliver no fewer than 10 million votes for President Bola Ahmed Tinubu. We are expanding, re-energizing, and strengthening our structures to make this vision a reality,” he said.

Another chieftain of the ruling All Progressives Congress (APC), Dr O’Diakpo Obire said since May 2023, the President has embarked boldest reforms in modern Nigerian history, ranging from economic restructuring to fiscal discipline; infrastructure renewal to social investment and energy reform to enhanced regional leadership.

“Under President Tinubu; Nigeria’s finances have been placed on a more sustainable path; infrastructure renewal, roads, rails, ports, is accelerating across states; the Students’ Loan Fund has opened new doors for young people; oreign exchange reforms are stabilizing long-term investor confidence.

“Power sector interventions are opening space for renewed generation and distribution and targeted social programs are being recalibrated to support vulnerable households. These are not easy reforms. They are the kind of decisive actions necessary to build a stronger economy, a more competitive nation, and a fairer society,” he said.

Obire noted for these reforms to succeed, public understanding and grassroots support are essential which is a role BAT Vanguard and its loyal members have played and must continue in taking government achievements to the grassroots, countering misinformation and ensuring citizens understand the long-term benefits of these policies.

“As we approach the 2027 elections, the task before BAT Vanguard becomes even more critical. The story of President Tinubu’s reforms must be told with clarity. The progress achieved must be translated into political value. The trust of the Nigerian people must be deepened through engagement, transparency, and consistent mobilisation.

“BAT Vanguard must strengthen its structures and target all 774 Local Government Areas, expand youth and women engagement platforms, establish policy advocacy desks to explain government programme, mobilise Nigerians based on facts, achievements, and shared national vision, and galvanize support that ensures President Tinubu’s re-election for continuity, stability, and consolidation,” he added.

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Dangote Group CEO’s criticism of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed is over the regulator’s refusal of a proposed 15 percent levy on petrol, this newspaper found out.

The Dangote Group has launched a campaign against the NMDPRA chief, probing his personal life and alleging corruption but its been gathered that the attack is to force the regulator’s hands to levy petrol, which would help put Dangote refinery’s competitors out of business.

The proposed levy, if implemented, would have pushed the pump price of petrol beyond ₦1,000 per litre, significantly increasing the financial burden on Nigerians already struggling with high living costs. The levy was rejected by regulators and the Federal Government, with President Bola Tinubu declining to approve it.

Farouk Ahmed has since come under criticism from interests opposed to the decision, with observers linking the attacks to disagreements over pricing control in Nigeria’s post-subsidy fuel market. Officials familiar with the matter say the NMDPRA maintained that introducing the levy at this time would have worsened inflation and transport costs nationwide.

Speaking on the issue, energy analyst, Dr. Philips Emmanuel said the regulator’s position was consistent with the realities of the Nigerian economy.

“Adding a 15 percent levy to petrol right now would have been catastrophic for consumers,” Emmanuel said. “The regulator was right to push back. Nigeria is still adjusting to subsidy removal, and sudden price shocks would only deepen hardship.”

Since the removal of fuel subsidies, Nigeria has faced supply challenges, including limited local refining capacity and logistical constraints. To address this, the NMDPRA has relied on a combination of local supply and strategic imports to ensure fuel availability and avoid prolonged shortages.

Farouk Ahmed, who previously worked in the United States and the United Kingdom within the oil and gas sector, is said to have drawn on international experience in fuel market regulation. Supporters argue that his exposure to mature energy markets has informed his emphasis on regulatory independence and consumer protection.

Another energy expert, Mr. Olanrewaju Adigun, a downstream petroleum consultant, said the dispute reflects a wider struggle over influence in Nigeria’s energy market.

“What we are seeing is a clash between regulation and commercial power,” Adigun said. “Large investors are important, but regulators exist to prevent any single player from setting prices or forcing policy decisions that affect millions of people.”

The disagreement follows debates over Dangote’s fuel quality and market dominance.

An exclusive report by Politics Nigeria revealed that diesel produced by Dangote Refinery had higher sulphur levels than initially presented to lawmakers, raising concerns about environmental and engine safety standards.

Dangote Group has denied the claims, insisting its diesel meets international standards and arguing that some imported fuels enter Nigeria with questionable certifications. The company has also invited regulators to independently test its products.

While the Dangote Refinery is widely regarded as a strategic national asset expected to reduce fuel imports, analysts caution against allowing excessive market concentration.

Concerns have been raised by industry watchers who point to the cement sector, where Dangote Cement controls a significant share of the market. Critics also argue that limited competition in that sector has contributed to persistently high prices, a situation they warn could be replicated in the fuel market without firm regulation.

Addressing personal allegations made against Farouk Ahmed, government officials have stated that lifestyle claims do not amount to evidence of misconduct. They stressed that any substantiated allegations should be presented to security agencies for investigation.

For now, officials say the decision to reject the 15 percent petrol levy was taken in the interest of economic stability and public welfare. They warn that pushing fuel prices above ₦1,000 per litre could have triggered widespread economic disruption.

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The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of ASO Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of their operating licences by the Central Bank of Nigeria (CBN).

This sets in motion the payment of insured deposits to thousands of customers of the defunct mortgage banks.

NDIC public notice on Tuesday, December 16, disclosed that the CBN withdrew the banks’ licences on December 11, 2025, after which the NDIC was appointed liquidator in line with Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020.

The move marks another regulatory intervention aimed at safeguarding depositors and maintaining confidence in Nigeria’s financial system.

NDIC begins liquidation, triggers depositor pay-outs 

The NDIC confirmed that it has formally commenced liquidation proceedings under Sections 55(1) and (2) of the NDIC Act 2023. As part of the process, verification and payment of insured deposits to customers of the two failed institutions have begun.

Under Nigeria’s deposit insurance framework, each depositor is entitled to a maximum insured payout of N2 million. According to the NDIC, payments will be made automatically using depositors’ Bank Verification Numbers (BVN) to identify and credit their alternative bank accounts.

“Depositors will be paid their insured deposits up to the maximum amount of N2,000,000 per depositor,” the Corporation said, adding that customers do not need to open new accounts for the payment to be effected. 

What happens to deposits above N2 million 

For customers with balances exceeding the insured limit, the NDIC explained that only the initial N2 million would be paid immediately.

Outstanding balances above this threshold will be settled later as liquidation dividends, subject to the recovery of loans and the sale of the banks’ assets.

To accelerate these payments, the Corporation said it would commence the disposal of the banks’ assets and intensify efforts to recover outstanding debts owed to the failed institutions.

Online and physical claims verification open 

According to the public notice, depositors can verify and submit claims either online or physically.

Online submissions are to be made through the NDIC claims portal, while physical verification will take place at the nearest branches of the closed banks between December 16 and December 30, 2025.

Customers opting for physical verification are required to present proof of account ownership, a valid means of identification, and details of their alternative bank account alongside their BVN.

The NDIC also invited creditors of ASO Savings and Union Homes to submit their claims within the same verification window. However, the Corporation stressed that creditors would only be paid after all depositors have been fully settled.

Payments to staff and shareholders will come much later and will depend entirely on proceeds realised from asset sales and debt recoveries, in line with statutory liquidation priorities.

Assurance to the banking public 

Reassuring the wider public, the NDIC said the liquidation does not signal systemic weakness in the banking sector.

“Banks whose licences have not been revoked remain safe and sound,” the Corporation said, urging Nigerians to continue their banking activities without fear. 

The NDIC added that its actions underscore its commitment to protecting depositors’ funds and preserving confidence in Nigeria’s financial system.

What you should know 

The Nigerian Exchange (NGX) had recently lifted suspension on the trading in the shares of Aso Savings & Loans after rectifying years of default in post-listing requirement, particularly, the default in filing of financial statements.

When trading resumed in the stock, the share price moved aggressively from about 50kobk per share to over N1.00 per share in less than one week, emerging as one of the best performing stocks for two consecutive weeks.

However, trading in the stock was suspended for the second time few weeks ago to enable the mortgage finance institution to conclude ongoing shares reconstruction. The exercise is still ongoing when the regulators hammer descended.

Like Aso Savings, Union Homes Savings and Loans with market capitalisation of N2.95 billion defaulted consistently on compliance with post-listing requirement prompting the NGX to delist the stock after series of effort to get the firm comply with post-listing requirements.

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