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Bill to Establish Budget Management Office Scales Second Reading

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By Modupe Gbadeyanka

A bill for the establishment of a budget management office passed second reading at the House of Representatives on Wednesday.

The bill, jointly sponsored by the Speaker of the House, Mr Femi Gbajabiamila, and Mr Henry Nwawuba, will give the new agency the power to take care of planning, presentation, implementation and monitoring of national budgets.

The new office will “prepare the annual budget proposal for presentation to the National Assembly by the President; supervise the implementation of the budget by ministries, departments and agencies of the federal government to ensure compliance with the law and policies of the administration; and evaluate the effectiveness of programs, policies, and procedures of the ministries, departments and agencies of the federal government to ensure consistency with governing priorities.

In addition, it will provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria; improve the budget process by imposing compliance with strict timelines for the budget process in the National Assembly; apply concrete indicators to measure the performance of the annual budget to ensure delivery of the expected development outcomes as set out in various development plans; oversee the implementation of the budgets of the federal government to ensure accuracy and fiscal transparency; approve the withdrawal of statutorily approved funds from the federation accounts to implement the appropriations law of the federal government; provide quarterly reports of budget performance and implementation to the National Assembly; and perform all other functions incidental to the effective management of the budget process in the Federal Government of Nigeria.”

According to the bill’s sponsors, a director-general appointed by the President will oversee the office’s operations in line with the legal framework, including submitting annual reports on budget implementation/performance to the National Assembly.

The bill provides penalties for anyone or organ that hinders the DG or staff of the office from performing the lawful duties as spelt out in this framework when passed into law.

For example, Part V of the bill makes the following provision, “A person who — without justification or lawful excuse, obstructs, hinders, assaults or threatens the Director-General or their members of staff acting under this Act; knowingly submits false or misleading information; or knowingly misrepresents to or misleads the Director-General or a member of his or her staff acting under this Act, commits an offence and is liable, or conviction, to a term of imprisonment not exceeding two years, a fine of N5 million or both.”

Another provision stipulates a jail term of two years or a N1 million fine or both.

“A person who violates sections 25, 26 and 27 of this Bill is guilty of an offence and shall be liable, on conviction, to a term of imprisonment not exceeding two years, a fine of N1,000,000 or both penalty,” another part of the bill said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Atiku Hires US Lobby Firm for $1.2m to Boost Reputation, Counter FG Narratives

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By Adedapo Adesanya

Former Vice-President Atiku Abubakar has hired Von Batten-Montague-York, L.C., a Washington-based lobbying firm, to protect and strengthen his “reputational standing” in the United States for $1.2 million.

According to The Cable, the contract agreement was signed by Mr Karl Von Batten, the managing partner at the firm, and Mr Fabiyi Oladimeji, a Nigerian politician, on March 9 and 10, 2026, respectively.

Based on a document filed with the US Department of Justice, one of the contract’s objectives entails that the firm will “counterbalance” the Nigerian government’s “lobbying narratives” in the US. It comes after the federal government reportedly spent $9 million to strengthen lobbying with the US government earlier this year.

Mr Abubakar, who is eyeing the Nigerian presidency, is currently with the African Democratic Congress (ADC). He will use the firm to “advance understanding” within US policymaking institutions of his “leadership posture and policy vision”.

Based on the contract details, the firm will facilitate and arrange meetings for the former vice-president to engage with US government officials and members of Congress.

Von Batten-Montague-York will also provide the politician with “guidance on policy positioning, reputational considerations, and engagement strategy”.

“These activities include lobbying and government affairs engagement with Members of Congress, congressional staff, and executive branch officials concerning issues related to democratic governance, regional stability, economic development, and U.S. engagement with Nigeria and the broader West African region,” part of the contract details reads.

“The Registrant (lobbying firm) may advocate for policies and perspectives aligned with the foreign principal’s stated positions, including matters relating to governance, economic policy, and bilateral relations with the United States.

“The Registrant also engages in promotion, perception management, and public relations activities designed to enhance understanding among U.S. policymakers and relevant stakeholders of the foreign principal’s policy positions, leadership posture, and strategic priorities.

“This includes the development of messaging strategies, narrative positioning, and reputational advisory services.

“In furtherance of these activities, the Registrant prepares, distributes, and may assist in the dissemination of informational materials, including briefing memoranda, policy papers, talking points, and related communications, intended to inform U.S. government officials and stakeholders.”

The former vice-president is expected to pay the $1.2 million for the 12-month contract in six instalments.

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Middle East Crisis: AfDB, Others Task Africa on Long‑term Structural Reforms

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By Dipo Olowookere

The need for Africa to protect itself from many external shocks not of its making has again been emphasised by the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the UN Economic Commission for Africa (UNECA).

On the margins of the 58th session of the Economic Commission for Africa in Tangier, Morocco, the continent was tasked to strengthen regional integration, accelerate African-led financial solutions, and invest decisively in energy, food, and trade resilience so as to move from vulnerability to preparedness.

The meeting focused on the spikes in energy, food and fertiliser prices caused by the ongoing conflict in the Middle East.

The United States and Israel launched airstrikes on Iran in February 2026, and since then, global oil prices have surged by more than 50 per cent as of late March. Twenty-nine currencies in Africa have weakened, raising the cost of servicing external debt and importing food, fuel, and fertiliser.

Disruptions linked to Gulf energy supplies limit access to ammonia and urea during the critical March–May planting season. This will affect agricultural production, compounding risks of crisis and emergency levels of food insecurity, especially for low‑income households and import‑dependent economies.

To address these issues, the quartet has asked African leaders to, in the short-term, stabilise fuel, food, and fertiliser supply, and execute medium‑term reforms to strengthen energy security, targeted social protection, and regional trade under the African Continental Free Trade Area (AfCFTA).

They also tasked leaders to come up with long‑term structural reforms towards stronger domestic resource mobilisation and African financial safety nets, including accelerated implementation of the African Financing Stability Mechanism.

“Continued escalation of the conflict worsens global instability, with serious implications for energy markets, food security, and economic resilience, particularly in Africa, where economic pressures remain acute,” the chairperson of AUC, Mr Mahmoud Ali Youssouf, said.

Also commenting, the UN Under-Secretary-General and Executive Secretary of UNECA, Mr Claver Gatete, said, “Africa has been hit by too many external shocks not of its making. Crises like this reinforce why Africa must finance more of its own future and strengthen regional solutions that build resilience before the next shock hits.”

On her part, the UN Assistant Secretary‑General and Director of UNDP’s Regional Bureau for Africa, Ms Ahunna Eziakonwa, submitted that, “With the right mix of policy choices, financing tools, and political resolve, Africa can weather this shock and emerge more resilient, more self-reliant, and better positioned to shape its own economic future.”

“As global crises multiply, Africa’s response must evolve from managing shocks to fostering resilience. African institutions and development partners need to act swiftly and in concert, leveraging their comparative advantages to cushion short-term shocks while laying the foundations for long-term resilience,” the president of AfDB, Mr Sidi Ould Tah, stated.

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Oyetola Sets Accountability Bar for Maritime Agencies

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By Adedapo Adesanya

The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has issued a strong warning to heads of agencies under the ministry, demanding strict accountability and measurable results.

Mr Oyetola issued the warning during the signing of performance bonds with heads of maritime agencies at the Ministerial Management Retreat, held alongside the 2026 first-quarter stakeholders’ engagement in Lagos on Thursday, where he emphasised the need for performance-driven governance.

“Let me emphasise that all Departments and Agencies under the Ministry must remain firmly focused on delivering tangible results,” he said.

In a statement by Mr Bolaji Akinola, Special Adviser to the Minister, Mr Oyetola noted that performance bonds to be signed during the retreat are binding commitments that will be closely monitored and rigorously evaluated.

“These are not ceremonial documents. They are binding commitments. Accountability will not be optional,” the Minister declared.

Mr Oyetola reiterated the need for data-driven decision-making, robust monitoring and evaluation frameworks, and alignment with the Ministry’s strategic objectives.

“At the institutional level, we must remain disciplined and accountable. Every department and agency must deliver measurable outcomes,” he added.

He explained that the retreat was designed to foster alignment between policy formulation, implementation, and stakeholder expectations.

“The integration of this engagement enables us to listen, reflect, and recalibrate,” he said.

The agencies include the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Shippers’ Council (NSC), National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria, and the Council for the Regulation of Freight Forwarding in Nigeria.

He also announced a 160 per cent increase in revenue generated by agencies under the ministry, attributing the growth to sweeping reforms and a renewed focus on accountability.

“In 2023, our agencies generated N700.79 billion. By the end of 2025, this figure had risen to approximately N1.83 trillion. This remarkable achievement is the result of deliberate and sustained reforms,” he stated.

The Minister explained that the gains were driven by strengthened regulatory oversight, improved revenue assurance mechanisms, digitalisation of key processes, and a firm commitment to blocking leakages.

“This gathering reflects our commitment to a governance approach that is inclusive, transparent, and results-driven,” he added, noting that the convergence of stakeholders, policymakers, and institutional leaders was designed to align policy with implementation and public expectations.

Mr Oyetola linked the ministry’s improved performance to broader sectoral reforms, including port modernisation, approval for disbursement of the Cabotage Vessel Financing Fund (CVFF), and ongoing efforts to enhance indigenous participation in maritime activities.

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