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FG Plans to Spend N59Bn on Ex-Militants

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The Federal Government plans to spend an estimated N59 billion on ex-militants, according to details of the 2014 Appropriation Bill presented to both arms of the National Assembly last week.

A breakdown of the figure showed that while N23.6 billion will be spent for payment of stipends to 30,000 ex-militants, another N35.4 billion is allocated for transformed ex-militants.

Daily Independent reported that the  Presidency is to spend a total of N33.4 billion within the fiscal year, out of which N25.106 billion represents recurrent expenditure, while capital expenses is estimated at N8.39 billion.

A further breakdown of the Presidency’s budget shows that N320.222 million is for ‘honorarium and sitting allowance,’ N267.775 million for ‘welfare.’

The Economic and Financial Crimes Commission (EFCC) has been allocated N10.245 billion in the budget, comprising N8.838 billion, or 86.26 per cent recurrent expenses and N1.406 billion, or 13.72 per cent as recurrent.

The budget also made provision of N700 million for the proposed National Dialogue.

Allocation proposed for the Education sector increased to N493.45 billion of the total, which represented 10.6 per cent of the total 2014 budget proposal.

The Appropriation Bill, presented by Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, before both arms of the National Assembly, showed that N3.7 trillion, representing 72 per cent of the N4.6 trillion, is to be spent on recurrent expenditure, while N1.1 trillion was earmarked for capital projects.

This, according to analysts, does not tell of any plan for infrastructure development in the coming year. The document, they believe, failed to address critical needs of the country.

On the revenue side, the Bill proposed a Gross Federally Collectible Oil and Gas Revenue of N7.16 trillion while Non-Oil Revenue is projected at N3.29 trillion.

Out of the oil revenue, total deductions, including cost of crude oil production, subsidy payments, and domestic gas development is put at N2.15 trillion, the same amount as in 2013.

The Federal Government budget revenue is estimated at N3.73 trillion. Subsidy payments were maintained at the 2013 level of N971.1 billion.

On the fiscal balance side, the government projected that in the 2014 financial year, fiscal deficit would be about N911.96 billion, representing about 1.90 per cent of the GDP while total borrowing of N571 billion is proposed in the Appropriation Bill, representing a mere N6 billion decrease from the approved 2013 figures.

For Edwin Ikhinmwin, a financial analysts and former bank chief executive, the 2014 budget does not show any sign of helping to create jobs, which would ordinarily come through massive capital investment “needed to rejuvenate our dilapidated infrastructure and build new capacities to support job creating growth.”

Consequently, he told Daily Independent, a “budget document that provides only 27 percent for capital expenditure is a trip in self delusion and propagation of false hood. The weight of recurrent expenditure cannot be supported by the capital budget. This is symptomatic of a rent economy whose long-term growth is not sustainable.

It is like the winner of a lottery who changed his style to expensive consumption without investing in sustaining wealth creation. The money soon got finished and he became poorer than before.”

Olufemi Awoyemi, and analyst and Chief Executive of Proshare Nigerian, an online finance and economy portal, lamented the inequity in the distribution of spending in the budget.

He is particularly concerned that 72 per cent of the spending is earmarked for payment of salaries and wages to about 10 million workers or less than six per cent of the nation’s 174 million people.

Even under in the days of military, he lamented further, “capital expenditure never grew below 40 per cent of total budget… We just bloated the civil service with every many of hangers’ on and political jobber.”

Mallam Garba Kurfi, Managing Director, APT Securities and Funds Limited, told News Agency of Nigeria (NAN) in an interview in Lagos, that the Nigerian economy would not grow with the scant emphasis on capital expenditure.

Allocating a mere N1.1 trillion for capital expenditure is a child’s play, considering the nation’s huge infrastructure challenge, and that Nigeria needs capital expenditure for the economy to experience meaningful growth and development.

Sehinde Adenagbe, Managing Director, Standard Union Securities Limited, however expressed dissatisfaction with the late presentation of the budget, calling for quick passage of the budget, which he regarded as the “road map for economic activities”.

This, he said, would help companies in decision making on investment, since it is a pointer to the direction of the nation’s economy in the new year.

Harrison Owoh, Managing Director, HJ Trust & Investment Limited, also told NAN that the budget proposal failed to address critical sectors of the economy, and that it was indeed disheartening that bulk of the nation’s budget would be used for wage payment instead of capital projects.

He said that the Federal Government should be bothered about the sufferings of the masses and ensure the provision of basic social amenities.


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SERAP Sues INEC Over Alleged ₦55.9Bn Election Funds Diversion

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Socio-Economic Rights and Accountability Project (SERAP) has dragged the Independent National Electoral Commission (INEC) to court over the alleged failure to account for ₦55.9 billion reportedly meant for the procurement of election materials for the 2019 general elections.

SERAP Sues INEC Over Alleged ₦55.9Bn Election Funds Diversion

The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025.

In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel INEC to account for the missing or diverted N55.9 billion meant to buy smart card readers, ballot papers, and other election materials for the 2019 general elections.”

SERAP is also seeking: “an order of mandamus to direct and compel INEC to disclose the names of all contractors paid the N55.9 billion for the procurement of smart card readers, ballot papers, result sheets, and other election materials for the 2019 general elections, including the names of their directors and shareholders.”

In the suit, SERAP is arguing that: “INEC must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”

SERAP is also arguing that, “INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered.”

According to SERAP, “INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.”

SERAP is also arguing that, “These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law.”

SERAP also said, “Allegations of corruption in the supply of smart card readers, ballot papers, result sheets and other election materials directly undermine Nigerians’ right to participate in elections that are free, fair, transparent, and credible.”

The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.”

“According to the recently published 2022 audited report by the Auditor General of the Federation (AGF), the Independent National Electoral Commission (INEC) ‘irregularly paid’ over N5.3 billion [N5,312,238,499.39] ‘to a contractor for the supply of Smart Card Readers for the 2019 general elections’.

“The contract was awarded without prior approval from the Bureau of Public Procurement (BPP) and the Federal Executive Council. The payment was also ‘made without any document. There was no evidence of supplies to the commission.’”


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FG Inaugurates N40Bn CCTV Control Centre for Third Mainland Bridge

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Federal government has inaugurated a ₦40 billion closed-circuit television (CCTV) control centre for the Third Mainland Bridge in Lagos.

FG Inaugurates N40Bn CCTV Control Centre for Third Mainland Bridge

Speaking at the inauguration on Sunday, David Umahi, minister of Works, said the project followed extensive rehabilitation works carried out on the bridge after the current administration took office in 2023.

“When we came on board in 2023, we met a very terrible Third Mainland Bridge,” Umahi said, adding that the structure, along with Carter and Iddo bridges, required comprehensive re-evaluation and repairs both above and below water level.

He said President Bola Tinubu approved the total rehabilitation of the bridge, including replacement of expansion joints, noting that the completed work had improved driving conditions and extended the bridge’s lifespan.

Umahi said the CCTV system, first announced in 2025, was designed to curb dangerous driving, prevent suicide attempts and strengthen security.

He added that security personnel would monitor live footage from the control centre and enforce speed limits on the bridge.

The minister commended the China Civil Engineering Construction Corporation (CCECC), which executed the project, for what he described as high-quality delivery. He said the contract also included a surveillance boat and two Hilux vans, which would be handed over to the police to support monitoring and rapid response.

“The idea is that we can see everything that is happening on the bridge,” Umahi said, expressing concern over excessive speeding and urging motorists to comply with traffic regulations.

Earlier, Olufemi Dare, federal controller of works in Lagos, said the facility was the first of its kind on any bridge in Nigeria.

He said the system allows real-time monitoring of activities on the bridge and surrounding waters.

Dare said the project includes 240 solar panels, 10 inverters, a 300 KVA transformer, a standby generator, multiple monitoring screens and full air-conditioning for the control centre.

He added that the contract also covers 1,268 solar-powered street lights and a borehole facility.

According to Dare, the project was awarded at a cost of ₦40.17 billion, with about ₦36 billion paid so far to the contractor. He said the current inauguration marked the first phase, with additional commissioning planned once work on the bridge’s extension is completed.

He thanked the president for approving the project and praised Umahi for ensuring due process during its execution.


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AI Founders and Developers to Converge in Lagos for AI in Action 2026 conference

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Debola Ibiyode, Convener of AI in Action 2026 and CEO of Carbon AI,
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As Africa stands at the threshold of a digital revolution, Carbon AI has officially announced the AI in Action 2026 conference, scheduled for January 22, 2026, at the Lagos Oriental Hotel.

In a statement in Lagos, Debola Ibiyode, Convener of AI in Action 2026 and CEO of Carbon AI, disclosed that the AI in Action 2026 conference aims to move beyond the typical industry hype to focus on practical, homegrown innovation under the theme: “Driving Productivity, Innovation, and Sustainability—Building the Future in AI Together.”

“AI in Action 2026 is designed as a high-impact platform where deep-tech innovation meets real-world application. The conference will specifically explore how Large Language Models (LLMs), Agentic AI Frameworks, and Generative AI can be harnessed to power Africa’s transformation,” she noted in the statement.

Debola also emphasizes that the time for mere discussion has passed, stressing that AI in Action 2026 is for people who want to do more than just talk about AI; it’s for those ready to build, apply, and lead.

“We aren’t chasing hype or funding; we are chasing real impact. Our mission is to empower budding founders to turn ideas into deployable solutions while championing responsible AI adoption that creates measurable social and economic change across the continent,” she added.

The statement explains that the conference features a curated experience designed to foster genuine collaboration. It includes keynote speeches and panels that offer deep dives into Generative AI, Agentic Frameworks, and their intersection with global sustainability.

Attendees can participate in practical workshops with hands-on sessions focused on building, deploying, and scaling AI tools. The event also features a startup and product showcase that highlights cutting-edge, African-built AI solutions.

Additionally, dedicated mentorship and networking sessions will connect early-stage founders with seasoned practitioners and industry leaders.

The event is a call to action for a diverse cross-section of the ecosystem, including Software and AI Engineers, Data Scientists, Business Leaders, Educators, Policymakers, Students, and ICT Infrastructure companies, enabling AI deployment, including datacenter providers. By bringing these groups together, the conference seeks to ensure the AI revolution is inclusive, ethical, and sustainable.

AI in Action 2026 Now offers tiered sponsorship packages for organizations looking to position themselves at the forefront of Africa’s technological future. Sponsors will gain direct access to a unique demographic of decision-makers and the next generation of AI talent.

“Africa’s digital revolution must be homegrown. Whether you’re building solutions, shaping policy, or mentoring young innovators, this is your platform. Together, we’re not just discussing the future, we’re building it,” she concluded.


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