BY Saint Mugaga

The Opposition Caucus in the House of Representatives have raised serious concerns over the alleged failure of the federal government to implement the 2025 Appropriation Act.

The caucus warned that the development could trigger calls for the removal of top finance officials.

In a statement jointly signed by the caucus leaders, Hon. Fred Agbedi (PDP, Bayelsa) and Hon. Afam Ogene (LP, Anambra),on Monday, the lawmakers announced that a strategic meeting has been scheduled for 8:00 p.m. on Tuesday to deliberate on critical national and legislative issues.

According to the statement, the meeting will focus on fiscal governance, legislative oversight, and an internal review of the performance of the minority leadership in the House.

Central to the deliberations, the caucus said, is the reported non-implementation of the 2025 budget throughout the entire fiscal year, despite the House approving all loan requests submitted by the Executive arm of government.

The lawmakers are expected to interrogate claims that funds appropriated for capital projects were not released, contrary to assurances earlier given to the National Assembly.

The caucus disclosed that it is also considering strong accountability measures, including a possible call for the removal of the Minister of Finance and the Accountant-General of the Federation.

By Saint Mugaga

The Vice President, Senator Kashim Shettima, has urged African entrepreneurs to close ranks in order to fully harness the Massachusetts Institute of Technology continent’s huge potentials, leveraging (MIT)’s resource mobilization network and job creation opportunities.

He made the call on Wednesday when he received a delegation from Kuo Sharper Foundry Fellowship 2025-2026 led by MIT’s Executive Director for the Kuo Sharper Centre for Prosperity and Entrepreneurship, Dina Sherif, on a courtesy visit at the presidential villa.

The vice president lauded the transformative impact of the MIT on the global entrepreneurship and innovation ecosystem that has raised over $1.5 billion dollars and created over 30,000 direct jobs in 20 years.

Shettima called for unity of purpose among African professionals and entrepreneurs, saying “Africa is the new frontier and future belongs to the continent but its people must unite to transform potentials into tangible results that impact lives and livelihoods.

“Africa is blessed with enormous human and material resources but its people must fuse into one to benefit from the tremendous opportunities that abound across the continent,” he added.

He disclosed that Nigeria President Bola Tinubu was daring to leverage available opportunities to transform the entire economy, noting that “President Tinubu is not afraid of taking bold decisions that will reposition Nigeria’s economy and better the lives of the livelihoods of the people.” 

Earlier in her remarks, the leader of the delegation said the delegation was at the Presidential Villa to brief the Vice President on the activities of MIT’s Kuo Sharper Centre for Prosperity and Entrepreneurship, assuring that the Centre is dedicated to “fueling the engine of entrepreneurship across the world”.

She noted that the team was in Nigeria in view of the Kuo Sharper Foundry Fellowship programme, which, according to her, has helped to entrench the spirit of entrepreneurship across the continent. 

Sherif underscored the significance of collaboration among African startups, noting that Nigeria is a leading country, as evidenced in the progress recorded by startups across the continent.

She further assured of improved support for African-based startups from the centre through its various initiatives. 

Also present at the meeting with the Vice President were the Director General of the National Emergency Management Agency (NEMA), Mrs. Zubaida Umar, and some fellows of the Kuo Sharper Foundry Fellowship 2025 – 2026 Session across Africa.

By Saint Mugaga

President Bola Tinubu has praised corporate Nigeria, citizens, and other stakeholders in the Nigerian capital market for surpassing the N100 trillion milestone on the Nigerian Exchange (NGX).

President Tinubu described this record achievement as an inspiration for the investing public operating in the money and capital markets.

A statement by his Special Adviser on Information and Strategy, Bayo Onanuga said Tinubu urged Nigerians to deepen their investments in the local economy, assuring that 2026 will yield even greater returns as his administration’s economic reforms continue to deliver stronger outcomes.

“With the Nigerian Exchange (NGX) crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation.

“In 2025, while many of the world’s markets struggled with stagnation or tepid recovery, the NGX All-Share Index was on the ascent. It closed 2025 with a 51.19% return, higher than the 37.65% recorded in 2024. This performance ranks among the highest in the world. Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group.

“Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered. As the stock market reflects the entire economy, its stellar performance is a significant indicator of the country’s economic health and the confidence investors have in our economy

“On the NGX, we have witnessed remarkable performances from listed companies across all sectors. From blue-chip industrial giants that have localised their supply chains, to a banking sector that has demonstrated resilience and technological innovation, Nigerian companies are proving that the country can deliver strong returns on investment.

“And we are just getting started. The pipeline for new and upcoming listings looks robust. More indigenous energy firms, tech unicorns, telecoms, and infrastructure-heavy entities are seeking to access the public market to fund their expansion. As these firms are listed, they will boost market capitalisation and deepen democratic ownership of the Nigerian economy.

“We are not celebrating the superlative stock market performance in isolation. We are also celebrating the microeconomic effects of our reforms. After the initial headwinds that followed our reforms, we are finally seeing a bend in the inflation curve. Crucial monetary tightening and the removal of distortionary ‘Ways and Means’ financing have restored stability to the Naira. Furthermore, investments in the agriculture sector have contributed to a consistent decline in inflation over the past eight months. From a 24-month high of 34.8% in December 2024, inflation decelerated to 14.45% as of November 2025, with projections indicating it will reach 12% in 2026. Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians.

“Also noteworthy is the status of our nation’s current account, a valid measure of our overall economic health. In 2024, Nigeria posted a surplus of $16 billion. According to the Central Bank of Nigeria (CBN), our current account balance is projected to rise to $18.81 billion in 2026, up from $16.94 billion in 2025.

“Under our administration, Nigeria is exporting more and importing less of what we can produce locally. Non-oil exports surged by 48% by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa alone rose by 97% to N4.9 trillion. Manufacturing exports increased by 67% year-on-year in the second quarter of 2025, suggesting a strong close to the year.

“Nigeria’s foreign reserves have crossed the $45 billion mark, giving the Central Bank the firepower to maintain stability. The Naira has stabilised, moving away from the volatility that once fuelled speculation. The Central Bank of Nigeria, in its latest outlook, projects foreign reserves will cross the $50 billion threshold in the first quarter of 2026.

“We are also seeing an expansion of the rail networks, the completion of major arterial roads and the revitalisation of our ports. With the transformative Lagos-Calabar and Sokoto-Badagry superhighways, the nation’s infrastructure is growing.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund (NELFUND), and universities are receiving increased research grants.

“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of its citizens build a nation. The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive.

“As your leader, I pledge to continue working unrelentingly to build an egalitarian, transparent, and high-growth economy that will be further catalysed by the historic tax and fiscal reforms that came into full implementation from January 1,” President Tinubu said.