President Bola Tinubu says the economy is responding positively to the stimulus engineered by the ongoing reforms, assured that Nigerians will soon begin to reap their benefits.

Tinubu said this presented the 2025 budget estimate of N49.7 trillion to a joint National Assembly session.

This figure is almost N2 trillion higher than the N47.9 trillion initially announced by the Minister of Budget and Economic Planning Sen. Atiku Bagudu.

Bagudu had said after Monday’s Federal Executive Council (FEC) meeting that some adjustments directed by the President would be made before presentation.

Defence and security received the highest sectoral allocation of N4.91 trillion.

Infrastructure got N4.06 trillion, while health and education got N2.48 trillion and N3.52 trillion.

The President said the proposal, entitled: “The restoration budget: securing peace, rebuilding prosperity” strikes at the very core of the Renewed Hope Agenda.

According to him, it demonstrates a commitment to stabilising the economy, improving lives, and repositioning the country for greater performance.

The 2025 Budget proposal, he said, reinforces his administration’s roadmap to peace, prosperity, and hope for a greater future.

“In 2025, we are targeting N34.82 trillion in revenue to fund the budget,” he said, describing it as “ambitious, but necessary to secure our future.”

According to the President, it is projected that inflation will decline from the current 34.6 to 15 per cent in 2025.

He expects the exchange rate to improve from approximately N1,700/$ to N1,500 and a base crude oil production assumption of 2.06 million barrels per day (mbpd).

These projections, he said, are based on reduced importation of petroleum products and their increased export, bumper harvests driven by enhanced security, reduced reliance on food imports, increased foreign exchange inflows through foreign portfolio investments and higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.

President Tinubu said: “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.

“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 in the process to arrive at our collectively desired destination.

“We must build on the progress we have made in the past 18 months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.”

He maintained that the 2025 budget seeks to consolidate the key policies to restructure her economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get the manufacturing sector humming again and ultimately increase the competitiveness of our economy.

He said: “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.

“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.”

The President said the reforms are beginning to yield results, assuring that Nigerians will soon experience a better and more functional economy.

He added that the global economic growth for 2024 was projected at 3.2 per cent, while against predictions, significant progress has been made.

He said the economy grew by 3.46 per cent in the third quarter, a rise from 2.54 per cent in the third quarter of 2023, while foreign reserves now stand at nearly $42 billion, providing a robust buffer against external shocks.

Citing a National Bureau of Statistics (NBS) report, he said rising exports are reflected in the current trade surplus, which now stands at N5.8 trillion.

“These clear results of gradual recovery, among others, reflect the resilience of the economy and the impact of deliberate policy choices the country made from the outset,” he said.

On increased allocation for security, the President said the government would continue to provide modern tools and technology needed to keep the country safe.

“Boosting the morale of our men and women in the armed forces will remain our government’s top priority,” he said.

President Tinubu added that the government is supporting our farmers with funding and inputs to reignite productivity as food security is non-negotiable.

“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,” he said.

The President said the Renewed Hope Infrastructure Development Fund was launched with the conviction that infrastructure remains the backbone of every thriving economy.

“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,” he said.

President Tinubu said the Nigeria Education Loan Fund (NELFUND) has so far disbursed N34 billion to over 300,000 students.

He said N826.90 billion was earmarked for infrastructure development in the educational sector in 2025, including Universal Basic Education (UBEC) and nine new higher educational institutions.

On health, the President said: “We are convinced that universal health coverage initiatives will strengthen primary healthcare systems across Nigeria.

“We have allocated N402 billion for infrastructure investments in the health sector in the 2025 budget and another N282.65 billion 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 access and reducing medical import dependency.

DIPLOMAT EXPRESSES COMMITTED TO PROMOTING EXCELLENCY IN DIPLOMACY

Nigeria says it is committed to promoting excellence in diplomacy, enhancing international cooperation, and fostering sustainable peace and development.

Country Director/Head of Mission, the International Society of Diplomats, ISD, Prof. Edet Ekpenyong, ISD said this at the Inaugural Assembly and Induction/Awards Ceremony of ISD in Abuja.

The theme of the event titled “Diplomacy and International Cooperation: Pivotal to Sustainable Peace and Development.”

Ekpenyong said the organisation aimed to create a platform for diplomats, scholars and practitioners in diplomacy to share knowledge, exchange ideas and develop innovative solutions to global challenges.

“We are committed to engaging in thought-provoking discussions, share workable ideas for best practices and explore new approaches to diplomacy.

“We will examine the intersection of diplomacy, international cooperation, and sustainable development, and explore ways to strengthen partnerships, build trust, and promote peace in our host country Nigeria,” he said.

The Secretary General of ISD, Amb. Manuel Fernandez, said Nigeria’s international stature continued to rise under the leadership of President Bola Tinubu.

Fernandez commended Tinubu for his unwavering leadership and commitment to advancing Nigeria’s role in the global diplomatic arena.

“Mr President, your strategic vision for a prosperous and peaceful Nigeria, as well as your proactive foreign policies, have made this country a vital center for diplomatic engagement.

“Under your leadership, Nigeria’s international stature continues to rise, and today, Nigeria stands proudly at the crossroads of diplomacy and international cooperation.”

According to him, this inaugural assembly marks not only the beginning of the ISD’s journey in next years, but also the beginning of a new chapter in Nigeria’s diplomatic history.

“As diplomats, it is our shared responsibility to continue to advance the values of peace, cooperation, and mutual respect.

“We are entrusted with the duty of building bridges across nations, and Nigeria stands ready to lead these efforts with the support of President Tinubu, the ministers, military, and the distinguished members of the ISD,” he said.

Dr Mathew Ogwuche, Head of Department, Political Science and International Relations, National Open University of Nigeria (NOUN), diplomacy and international relations were imperative to peace and sustainable development in Africa.

Ogwuche, who described diplomacy as a tool to resolve conflicts and reduce poverty, added that it was also a powerful instrument for fostering cooperation, promoting economic growth.

Dr Isa Yuguda, a former governor of Bauchi State, said Nigeria’s security challenges were domestic issues, which required collective efforts to address domestically.

Yuguda, who was also the chairman of the occasion, called for peace and sustainable development in Nigeria,

He also emphasised the need for synergy between Muslims and Christians to curb security challenges facing the country.

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EFCC CLOSES CASE IN THIRTEEN MILLION FRAUD CASE.

The Economic and Financial Crimes Commission, has closed its case against Oluwole Olutimehin, who is standing trial for allegedly stealing N13.29m from Sterling Bank Plc.

Olutimehin is standing trial before Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja.

The defendant is facing a count of fraudulent conversion of N13,29,000, preferred against him by the EFCC.

Olutimehin was first arraigned on September 20, 2022, before Justice Oluwatoyin Taiwo. However, the case was reassigned to Justice Oshodi following Justice Taiwo’s retirement.

The EFCC alleged that Olutimehin, on or about September 15, 2021, in Lagos, fraudulently converted the sum of N13,290,000.00, property of Sterling Bank Plc, to his use.

The commission said the offences committed contravened Section 280 of the Criminal Law of Lagos State, 2015, which is punishable under Section 287 of the same law.

At the resumed hearing of the case, the EFCC called its second prosecution witness, an internal auditor at Sterling Bank, Olaniyi Olaleye.

Led in evidence by the EFCC counsel, S.I. Suleiman, Olaleye narrated the events leading to the case.

According to him, the bank discovered irregularities in its OneBank app, an Internet banking platform that allows customers to open accounts and perform online transactions.

“In September 2021, we noticed abnormalities in the app, which allowed unauthorised withdrawals of N13.29m, involving multiple banks, including GTB, Wema, and Access,” he said.

Olaleye told Justice Oshodi that Sterling Bank filed a petition to the EFCC to investigate the issue.

“I co-signed the petition and provided the EFCC with statements of account linked to the transactions.

Exhibits A and B, which include the petition and the account details of the defendant, were submitted as evidence,” he added.

Exhibits A and B were shown to the witness which he identified as their petition alongside a copy of account details of the defendant with account number 0085006574.

When asked how the bank app. was operated. He explained that the OneBank app’s wallet account feature allowed customers to perform transactions with a daily limit of N500,000.

However, the app breach enabled transactions far exceeding this limit.

CUSTOMS SERVICE PROMOTE OVER ONE THOUSAND JUNIOR PERSONNEL.

The management of the Nigeria Customs Service (NCS) has approved the promotion of 1,419 junior officers across various ranks.

The comprehensive promotion encompasses both General Duty and Support Staff who excelled in this year’s promotion examinations.

A statement by NCS’ National Public Relations Officer (NPRO) Abdulahi Maiwada said the decision was ratified on November 29 during the 10th management meeting of the service, chaired by its Comptroller General, Adewale Adeniyi.

The statement said 346 General Duty and 384 Support Staff officers were elevated from Assistant Inspector of Customs (AIC) to Inspector of Customs (IC); four General Duty and 13 Support Staff officers were elevated from Customs Assistant I (CAI) to Assistant Inspector of Customs (AIC); 372 General Duty and 59 Support Staff officers moved up from Customs Assistant II (CAII) to Customs Assistant I (CAI); and 188 General Duty and 54 Support Staff officers were promoted from Customs Assistant III (CAIII) to Customs Assistant II (CAII).

The statement added: “This strategic advancement underscores the transformative leadership of the NCS management team under the visionary stewardship of CGC Adeniyi.

“By prioritising career growth as a cornerstone of workforce motivation, his administration inspires a culture of excellence, empowering employees to achieve their full potential and driving the organisation toward unparalleled service delivery.”

Adeniyi congratulated the newly promoted officers and advised them to redouble their efforts in fulfilling the service’s core mandates of revenue generation, suppression of smuggling, and trade facilitation.

The promotion list for senior officers, is currently being processed, pending approval by the Nigeria Customs Service Board.

COURT ORDERS INTERIOR MINISTER, IMMIGRATION SERVICE TO ENSURE PASSPORT ISSUANCE WITHIN SIX WEEKS.

A Federal High Court in Abuja has ordered Interior Minister Olubunmi Tunji-Ojo and the Nigeria Immigration Service (NIS) to always ensure that applicants who meet all the requirements to get international passports get them within six weeks.

The court said this delivery period is achievable because it is in line with Section 9(4) of the Immigration Act 2015.

Justice Emeka Nwite issued the order in a judgment he delivered on a fundamental rights enforcement suit filed by an aggrieved Nigerian, Benita Ngozi Ezumezu against the NIS and the minister – listed as respondents.

Ezumezu claimed to have applied for Nigeria’s international passport and met all the requirements as at October 6, 2022, but claimed that the NIS failed to issue her the passport, 14 weeks after submitting her application.

In the judgment delivered on December 4, Justice Nwite rejected the respondents’ arguments, upheld the applicant’s claims and granted all the reliefs the applicant sought.

Justice Nwite, who awarded N3 million damages against the respondents and in favour of the applicant, declared that as at October 6, 2022, Ezumezu had fulfilled all the requirements and was qualified to be issued passport within six weeks.

The judge also declared that the respondents’ failure to issue the applicant an international passport, 14 weeks after meeting all requirements, violated Section 9(4) of the Immigration Act 2015 and the applicant’s right to freedom of movement.

He issued an order “directing the first respondent (NIS) to issue the applicant (Ezumezu) passport forthwith, as stipulated in Section 9(4) of the Immigration Act 2015”.

UNITED NATIONS RESPONDS CYCLONE IN MOZAMBIQUE, EARTHQUAKE IN VANUATU.

Humanitarians have continued to assess the impact of Tropical Cyclone Chido in Mozambique and to support affected families.

The storm struck over the weekend, affecting at least 184,000 people. According to authorities, some 45 people have been killed and a further 500 injured, primarily in Cabo Delgado province.

More than 35,000 homes were destroyed or severely damaged. Almost 50 health centres and nearly 150 schools were also damaged and are no longer functioning.

UN Spokesperson Stéphane Dujarric told journalists in New York that the UN and its partners had been mobilising support for the most affected families in Mecufi district in Cabo Delgado.

They have reached 2,000 families with food, shelter and other essential supplies.

Mobile medical teams are being deployed across the most impacted districts to deliver essential health services.

Efforts are also underway to combat waterborne diseases by distributing chlorine and water purification materials, as well as providing information on cholera prevention,” he said.

Mobile teams have also been deployed to support unaccompanied or children who have been separated from their families, he added.

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U.S SECRETARY OF STATE TO ANNOUNCE MORE FUNDING FOR SUDAN.

U.S. Secretary of State Antony Blinken will announce at the United Nations on Thursday additional funding for humanitarian assistance to Sudan and efforts to support civil society in the country, where a conflict has killed tens of thousands of people and driven millions from their homes.

Deputy U.S. Representative to the United Nations Ned Price said Blinken will make a number of announcements when he chairs on Thursday a UN Security Council meeting on Sudan, which will focus on humanitarian assistance and protection of civilians.

The announcements will include additional funding for humanitarian assistance, and efforts to support civil society and, ultimately, the transition back to democracy, Price said.

“Sudan, unfortunately, has risked becoming a forgotten conflict,” Price said.

Sudan’s army and the paramilitary Rapid Support Forces have been locked in conflict for more than 18 months, triggering a profound humanitarian crisis in which more than 12 million people have been driven from their homes and U.N. agencies have struggled to deliver relief.

The war erupted in April 2023 amid a power struggle between the Sudanese Armed Forces and the RSF ahead of a planned transition to civilian rule.

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CONGO RIVER BOAT SINKS KILLING AT LEAST TWENTY-TWO.

A river boat sank in western Democratic Republic of Congo, killing at least 22 people after the overcrowded upper deck collapsed.

Boating accidents are common in Congo, where old, wooden vessels are the main form of transport between villages and are often loaded far beyond capacity.

The boat was carrying as many as 100 passengers when it sank in western Mai-Ndombe province, the local official said. The victims included 15 women, five men and two children.

Provincial Governor, Lebon Nkoso Kevani said until they have safer, metallic boats, they will continue to have shipwrecks.

Kevani said there are thousands of these wooden ones circulating on the waters of Mai-Ndombe.

He added that a team of provincial officials had deployed to the area to investigate and that many passengers were believed to have escaped to shore after the disaster.

In October, at least 78 people drowned when a boat carrying 278 passengers capsized in Lake Kivu in eastern Democratic Republic of Congo.

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UNITED NATIONS PEACEKEEPERS GUARD CONGOLESE FARMERS WORKING THEIR FIELDS.

Under a scorching sun in Democratic Republic of Congo, many of the farmers tending to their fields in the troubled eastern region are guarded by United Nations peacekeepers.

The U.N. mission has fallen under increasing scrutiny over the years as the eastern conflict between rebel groups, self defence forces and other militias has raged.

But in this corner of Djugu territory in the village of Dhendro, farmers are unequivocal in their support for the U.N. force known by the acronym MONUSCO.

The farmers, many displaced from their homes by the conflict, shelter in camps near the U.N. bases.

MONUSCO has been deployed in Congo since 2010, when it took over from an earlier U.N. operation to secure the troubled eastern region that borders Rwanda.

The operation to guard farmers who grow corn, beans, potatoes and manioc is known as “Secure Harvest” and it aims to allow them to work freely during the harvesting season and provide protection from militia groups who steal produce and kill people.

Brigadier General Monzurul Alam said the main objective is to secure the farmers in their farmland when they are working, We believe this is directly linked to the protection of civilians that MONUSCO is mandated for.

Last year, the U.N. Security Council approved the end of the mission at the request of President Felix Tshisekedi.

The 13,500-strong force had faced attacks and protests over perceptions that it had failed to secure the population.

TANZANIA’S ECONOMY GROW AROUND SIX PER CENT NEXT YEAR.

Tanzania’s economy expected to grow by about 6% in 2025 from an estimated 5.4% growth in 2024.

Its Finance Minister Mwigulu Nchemba and Central Bank Governor Emmanuel Tutuba said in a letter on 29th November, and made public by the International Monetary Fund.

Some of the potential risks to the performance in the near term would include intensification of regional conflicts, increased commodity price volatility, a global economic slowdown and natural disasters related to climate change.

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AT LEAST TWENTY DIE, FIVE RESCUED AS MIGRANT BOAT SINKS OFF TUNISIA.

Tunisia’s coast guard has recovered the bodies of 20 migrants from Africa after the boat they were in sank off the coast, the national guard, the second migrant drowning tragedy within one week off Tunisian coast.

Last Thursday, Tunisia coast guard has recovered also the bodies of nine migrants, while six others are still missing after their boat sank while they were sailing towards Europe.

The national guard said that coast guard rescued five others who were on the same boat and search operations were underway for anyone still missing.

The boat sank off the coast of Sfax city, a major departure point especially for African migrants.

Tunisia is grappling with an unprecedented migration crisis and has replaced Libya as the major departure point for both Tunisians and people from elsewhere in Africa seeking a better life in Europe.

SUSPECT IN KILLING OF TOP RUSSIAN GENERAL.

The suspect in the killing of top Russian general Igor Kirillov has been taken to the crime scene in Moscow.

Lieutenant General Kirillov, who was the chief of Russia’s Nuclear, Biological and Chemical Protection Troops, was killed outside his apartment building on Tuesday along with his assistant when a bomb attached to an electric scooter went off.

The Izvestia news outlet showed a handcuffed man walking along a road in Moscow, escorted by police.

Russia said it had detained an Uzbek man who had confessed to planting and detonating a bomb which killed Kirillov in Moscow on the instructions of Ukraine’s SBU security service.

CHINA DENIES SECRET POLICE STATIONS AFTER NEW YORK MAN GUILTY PLEA.

There are no so-called “secret police stations”, after a New York resident who prosecutors say operated such a station pleaded guilty to conspiring to act as an unregistered foreign agent.

China is a country with rule of law and has always strictly abided by international law and respected the judicial sovereignity of all countries.

Ministry spokesperson Lin Jian told a news briefing.

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UNITED NATIONS ENVOY CONCLUDES TALKS IN DAMASCUS

The UN Special Envoy for Syria. Geir Pedersen has concluded talks in Damascus, expressing optimism that the fall of the Assad regime could mark the start of a peaceful democratic transition.

Pedersen, in a statement, said,” It’s early days”, referring to the dramatic events of less than two weeks ago that ended decades of dictatorship.

“But I think it is important to say that there is a lot of hope that we can now see the beginning of a new Syria.”

He emphasised that any transition must align with UN Security Council resolution 2254, which calls for a new constitution, free and fair elections, and a Syrian-led, inclusive political process.

Pedersen reiterated the UN’s commitment to supporting the people of Syria in achieving these goals, while also acknowledging the significant challenges ahead.

He pointed to the volatile situation in parts of the country, particularly the northeast, where the ceasefire was recently extended.

Members of the UN Security Council also highlighted the importance of an inclusive and Syrian-led political process based on resolution 2254 (2015) that is facilitated by the United Nations.

In a press statement issued ambassadors reaffirmed their strong commitment to Syria’s sovereignty and territorial integrity while urging all nations to respect these principles.

“They also underlined the need for Syria and its neighbours to mutually refrain from any action or interference that could undermine each other’s security,”

It, however, emphasised the need to combat terrorism and prevent extremist groups like ISIL/Da’esh from regaining a foothold in the country – where they have been active for years.

Council members also reiterated the obligation to respect human rights, including the right to seek justice, and international humanitarian law in all circumstances.

Meanwhile, the humanitarian crisis remains dire in the country, particularly for children.

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HELICOPTERS, DIVERS HUNT SURVIVORS OF MUMBAI BOAT ACCEDENT

Helicopters and divers scoured the waters off India’s financial capital of Mumbai on Thursday in a search for survivors of a freak boat accident that killed at least 13 people a day earlier, three navy personnel among them.

A naval speedboat lost control and collided with a privately owned vessel taking tourists to the nearby Elephanta caves, famed for their rock art.

The ferry capsized as a result, but 114 people were rescued.

Of the 114 rescued, 97 were stable, four in critical condition and 13 dead, the municipal corporation said on messaging app WhatsApp.

Navy and coast guard vessels joined in to search the harbour for at least two people still believed to be missing, an adult and a child, said a naval officer, who sought anonymity as he was not authorised to speak to the media.

The officer said the accident happened during the trial of a new type of engine for the speedboat.

A naval spokesperson did not immediately respond, when asked for comment on the remarks.

Television channels showed a speedboat with at least five on board crashing into the passenger vessel.

AT LEAST ONE HUNDRED NORTH KOREANS DEAD IN UKRAINE.

At least 100 North Korean soldiers have been killed in fighting in the Ukraine war since entering combat on the Russian side earlier this month.

A South Korean MP, Lee Sung-kwon, speaking to reporters after parliament was briefed by the country’s National Intelligence Service, said another 1,000 had been injured.

He said the casualties included high-ranking officials, and could be explained by the troops lack of familiarity with the terrain, and with drone warfare.

The first reports of North Korean casualties came earlier this week. It emerged in October that the North had sent 10,000 troops to help Russia’s war effort.

The North Korean troops, none of whom will have any previous combat experience, are believed to have spent their first weeks in Russia in training and then in support roles.

The casualties are thought to have occurred in Russia’s Kursk region, where Ukrainians are defending a small area of territory captured during a surprise incursion in August.

Last Saturday, Ukrainian President Volodymyr Zelensky said Russia had begun to use a “significant number” of North Koreans in its assaults in Kursk.

They are not thought to have been deployed in Ukraine itself, where Russian troops have been advancing in eastern parts of the country in recent months.

EXCEPTIONAL NATURAL DISASTER DECLARED IN MAYOTTE AFTER CYCLONE

A state of exceptional natural disaster has been declared in Mayotte as the French Indian Ocean territory reels from the devastation of Cyclone Chido.

At least 31 people are reported by French officials to have died, while thousands are still missing after the cyclone tore through the small islands on Saturday.

It the first time this kind of emergency has been declared in France.

The move comes as President Emmanuel Macron was due to arrive in Mayotte on Thursday.

Tens of thousands without water in Mayotte as curfew brought in Designed specially for France’s overseas territories, the emergency allows administrative barriers to be overcome in order to deal with the crisis more quickly and effectively.

Emergency services have been delivering food and water and clearing roads, while also racing to find the missing.

Health workers are concerned infectious diseases could spread, as residents have reported clean drinking water shortages and shops are rationing supplies.

The authorities have said their priority is to get damaged water plants back up and running.

fter Mayotte the storm hit the African mainland, killing at least 45 people in Mozambique and 13 in Malawi.