General
Tinubu Urges South African Miners to Consider Nigeria
By Adedapo Adesanya
President Bola Tinubu on Monday asked South African companies to consider investing in the Nigerian solid minerals development sector, promising them a conducive environment.
Mr Tinubu made this call when he held talks with his South African counterpart, Mr Cyril Ramaphosa, in New York City ahead of the United Nations General Assembly (UNGA).
According to a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, the Nigerian leader advanced his economic development diplomatic drive for investment attraction during the engagement.
He told Mr Ramaphosa that, “South African mining industries have a role to play in the Nigerian solid minerals development sector.
“Your business community has done well in Nigerian Telecommunications. We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries.”
President Tinubu asserted that Africa must have a consensus view that the hundreds of billions of Dollars spent through International Development Finance Institutions over the years must meet the specific needs of developing democracies in Africa, even if it is done with exclusive regard for their own enlightened self-interest.
“During the end of the Second World War, the Marshall Plan was established for the reconstruction and economic restoration of European nations through Bretton Woods institutions. Where has this presence been for Africa? We have to be careful not to replace the broken shackle of yesterday with a new set of shackles. You can not have a stable democracy in the presence of a poverty of knowledge and a starvation of people.
“Democracy without food on the table is a breeding ground for what will consume us if care is not taken. We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation.
“We have all the human and natural resources required between our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African Mining industries have a role to play in the Nigerian solid minerals development sector. Your business community has done well in Nigerian Telecommunications.
“We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries,” the President affirmed.
On his part, Mr Ramaphosa referenced President Tinubu’s quick implementation of what he called “brave” economic reforms, agreeing that the two countries have much more wealth to create together in close and intentional partnership, with each nation leveraging on each other’s respective strengths.
“We are two major economies on our continent, and it is important that we deepen economic ties, particularly in light of the African Continental Free Trade Agreement. We are very keen on the deepening of our economic relations,” the South African President said.
The South African President emphasized that history has proven that Nigeria and South Africa can move the world on matters of mutual concern when the two nations operate on the same wavelength.
“We would love to see Nigeria and South Africa working closely together on a number of issues because whenever we join hands, we have made an impact globally through those joint positions. Together, we can move the global south forward.
“We are a continent that has been plundered. And wealthy nations made so much of it from us, and we must seek out partners who will help us to advance our own interests,” the South African President emphasized.
He also used the opportunity of the bilateral engagement to extend an invitation to President Bola Tinubu to visit South Africa, following President Ramaphosa’s recent visit to Nigeria, as part of efforts to deepen economic ties and the broader relationship between both countries.
By Dipo Olowookere
The Governor of Rivers State, Mr Siminalayi Fubara, has left the Peoples’ Democratic Party (PDP) for the ruling All Progressives Congress (APC).
Mr Fubara, who was restored as Governor of the oil-rich state in September 2025, announced his defection to the APC at a stakeholders meeting at the government house in Port Harcourt, the state capital.
In March 2025, President Bola Tinubu declared a state of emergency on Rivers State, suspending Mr Fubara and lawmakers of the Rivers State House of Assembly for six months due to political unrest in the South-South state.
It was gathered that on Monday night, the governor visited Mr Tinubu at the Presidential Villa in Abuja for a meeting.
His defection from the PDP comes a few days after 16 members of the Rivers Assembly formally joined the APC due to crisis in the PDP.
By Adedapo Adesanya
The Senate has approved President Bola Tinubu’s request to deploy Nigerian troops to the Republic of Benin in support of efforts to restore peace and stability following Sunday’s coup attempt.
The Senate President, Mr Godswill Akpabio, announced this on Tuesday during plenary after lawmakers considered the request in the Committee of the Whole in line with section 5, Part 11 of the Constitution.
The upper chamber of the National Assembly unanimously voted in favour of the deployment, giving legislative backing for the regional security intervention.
Mr Akpabio described the decision as a step in the right direction, noting that instability in any neighboring state poses a threat to the entire region.
“An injury to one is an injury to all,” the lawmaker said, underscoring that it is Nigeria’s responsibility to support its Economic Community of West African States (ECOWAS) partner.
He said the Senate’s consent letter will be transmitted to President Tinubu immediately.
Earlier, President Tinubu had written to the Senate, seeking their approval for the deployment of troops to the Benin Republic. He said that Nigeria has a historical responsibility to support Benin under the existing Economic Community of West African States (ECOWAS) security frameworks.
According to the President, the crisis demands “urgent external intervention” to help restore stability and prevent further breakdown of order.
Benin Republic’s attempted coup occurred on Sunday, when some military personnel who called themselves the Military Committee for Refoundation (CMR) took to national television to announce that they had met and concluded that “Mr Patrice Talon is removed from office as president of the republic”.
However, the country’s military thwarted the effort and regained control, with aerial support from Nigeria, as per requested.
“The regular army is regaining control. The city (Cotonou) and the country are completely secure,” sources close to Talon said. “It’s just a matter of time before everything returns to normal. The clean-up is progressing well.”
Following the development, ECOWAS said it will deploy a standby force to the area.
“After consultation among members of the Mediation and Security Council at the level of Heads of State and Government, the Chair of ECOWAS Authority of Heads of State and Government has ordered the deployment of elements of the ECOWAS Standby Force to the Republic of Benin with immediate effect,” the regional bloc said.
“The Regional Force shall be made up of troops from the Federal Republic of Nigeria, the Republic of Sierra Leone, the Republic of Côte d’Ivoire, and the Republic of Ghana.
“The Force shall support the Government and the Republican Army of Benin to preserve constitutional order and the territorial integrity of the Republic of Benin”.
Earlier today, the Nigerian Air Force (NAF) refuted reports that 11 of its personnel are currently being held by the Burkinabe military regime in Bobo-Dioulasso, southwest Burkina Faso.
It was reported that the Nigerian military officials were captured after their aircraft conducted an emergency landing, alleged to be violating airspace belonging to the Alliance of Sahel States (AES).
AES, made up of Mali, Niger, and Burkina Faso, said in a joint statement that the aircraft carrying the 11 military personnel did not have permission to fly over Burkina Faso.
By Adedapo Adesanya
The federal government has directed Ministries, Departments and Agencies (MDAs) to carry over 70 per cent of their 2025 capital allocations into the 2026 fiscal year.
The directive was contained in the 2026 Abridged Budget Call Circular issued by the Ministry of Budget and Economic Planning and circulated to ministers, service chiefs, and heads of agencies.
The circular said the government had adopted a new framework that caps all 2026 capital budget ceilings at 70 per cent of 2025 project allocations.
Only 30 per cent of this year’s capital budget will be released in 2025, while the remaining 70 per cent forms the foundation of next year’s capital spending.
The notice laid out strict guidelines for preparing next year’s spending plan, including a ban on introducing new capital projects, noting that the administration prioritises completing ongoing projects amid weak revenues and rising fiscal pressures.
It said MDAs must “upload 70 per cent of their 2025 FGN Budget to continue in FY2026” and ensure that all rollover items align with the administration’s priorities—national security, economic growth, education, health, agriculture, infrastructure, power, energy, and social safety nets.
The ministry said the policy is meant to prevent duplication, strengthen continuity and ensure that uncompleted projects are not abandoned, warning MDAs against attempting to exceed their 2025 overhead ceilings in their 2026 submissions, despite inflationary pressures.
“We are constrained by revenue challenges,” the circular said. “While we note the impact of inflation, proposals that exceed approved ceilings will be adjusted downward.”
The directive said the 2026 budget must reflect the strategies in the Medium-Term Expenditure Framework (2026–2028), the Renewed Hope Infrastructure Development Plan, the Ward Development Plan and the National Development Plan, as well as the Accelerated Stabilisation and Actualisation Plan.
MDAs must submit their budgets through the GIFMIS Budget Preparation Subsystem, while government-owned enterprises will submit via the Budget Information Management and Monitoring System. All submissions must be completed by Tuesday, December 9, 2025.
Statutory transfers are projected to drop from N3.64tn in 2025 to N3.15 trillion in 2026, while recurrent non-debt expenditure is estimated at N15.26 trillion.
Debt service obligations are set to rise sharply from N13.94 trillion this year to N15.52 trillion in 2026.
Aggregate capital expenditure is projected at N22.37 trillion, down from N26.19 trillion in 2025. Capital allocations for MDAs fall from N12.39 trillion to N8.67 trillion, while project-tied loans will shrink from N3.36 trillion to N2.05 trillion.
The deficit widens significantly to N20.12 trillion in 2026, from N14.10 trillion in the current year.
Personnel costs have already been computed using data from IPPIS and earlier submissions, the circular noted. Each ministry will be informed of its personnel cost ceiling for 2026.
The financial projections accompanying the circular show a more constrained revenue outlook for 2026.
Total funds available to the Federal Government, including GOEs, are projected at N54.46 trillion, down slightly from N54.99 trillion in 2025.
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