President Bola Tinubu has approved a salary increase of between 30 and 80 per cent for about 250,000 personnel of the Armed Forces, raising the military’s annual wage bill from N660bn to N924bn in what is the biggest upward review of military salaries under his administration. The new pay structure, which takes effect from September…
President Bola Tinubu on Monday declined to receive a special delegation sent by South African President Cyril Ramaphosa over ongoing xenophobic attacks targeting Nigerians in South Africa. Instead of meeting the visiting envoys directly, President Tinubu directed the South African team to engage with the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye. The…
President Bola Tinubu has called on member states of the United Nations to incorporate the Preamble to the UN Charter into their national constitutions, saying the move would reinforce global peace, justice, human dignity and international cooperation. Nigeria’s Permanent Representative to the United Nations, Dr. Jimoh Ibrahim, made this known on Monday during an informal…
The International Monetary Fund has recommended introducing taxes on fuel products and telecommunications services in Nigeria as part of broader measures to increase government revenue and create fiscal space for development spending and social interventions. The recommendation was contained in the IMF’s 2026 Article IV Consultation report on Nigeria, where the Fund argued that additional…
The Federal Government has stepped up engagement with the World Bank for a fresh $1.25bn loan to support economic reforms, job creation, and competitiveness, as findings by The PUNCH showed that the facility has reached a critical stage in the lender’s approval process. The proposed loan, titled Nigeria Actions for Investment and Jobs Acceleration, is…
President Bola Tinubu has written to the Senate, seeking approval to borrow a fresh $516,333,070 loan. In a letter to the President of the Senate, Senator Godswill Akpabio, which was read on Thursday during plenary, the loan will be obtained from Deutsche Bank, and it is aimed at financing the already approved borrowing plan for…
President Bola Tinubu has approved a minor reshuffle of the Federal Executive Council, removing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Dangiwa, from their cabinet positions. A statement on Tuesday by the Special Adviser, Media and Publicity to the Secretary to…
President Bola Tinubu has requested the Senate’s approval to secure external loans totaling $6 billion to support government financing needs. The request was conveyed in two separate letters addressed to Senate President Godswill Akpabio and read during Tuesday’s plenary. In the first letter, the President sought approval to obtain a $5 billion loan from Abu…
President Bola Ahmed Tinubu on Monday said Nigeria has begun to overcome the economic challenges that confronted his administration, declaring that state governors are no longer relying on bank loans to pay workers’ salaries. Tinubu made the remark while hosting religious and traditional leaders at an interfaith breaking of fast at the Presidential Villa in…
The All Progressives Congress (APC) National Chairman, Nentawe Goshwe Yilwatda, has urged Nigerians to celebrate Kogi State youths for donating N100 million towards President Bola Tinubu’s 2027 presidential nomination forms, describing the gesture as a historic milestone. The National Working Committee (NWC) of the APC has directed groups and individuals planning to purchase expression of…
