Economy

Unions Threaten Action over Unpaid Wages

By Web News 388

Organised labour in the federal public service has given the Federal Government until Friday 27th February to release funds for three months of unpaid wage awards and other outstanding allowances across Ministries, Departments and Agencies.

The Trade Union Side of the Joint National Public Service Negotiating Council (JNPSNC) issued the ultimatum in a letter to the Federal Ministry of Labour and Employment.

It warned that the eight civil service unions would take decisive action if the February 27, 2026 deadline is missed.

The unions accused the government of withholding funds, alleging that payment agencies are ready to act once the Federal Ministry of Finance releases the money.

The wage award followed approval of the 70,000 naira minimum wage after fuel subsidy removal and was designed as a temporary relief pending full implementation in July 2024.

Labour leaders said five months were initially unpaid; two were later settled after pressure, leaving three months outstanding since July 2024.

The unions also demanded payment of promotion arrears for workers elevated over three years ago, salary arrears for employees recruited between 2015 and 2024, and proper implementation of a 40 per cent peculiar allowance tied to the new minimum wage.

They warned of possible industrial action if funds are not released by the deadline and copied the letter to the Office of the Head of the Civil Service of the Federation, the Nigeria Labour Congress and the Trade Union Congress of Nigeria, among others.

Punch/Maxwell Oyekunle/Adetutu Adetule

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Economy

OGHA Order Agencies to Align Auditor-General Report

By Web News 198

By Omolara Adasofunjo

The Ogun State House of Assembly, OGHA, has intensified scrutiny of the 2024 Auditor-General’s report, directing Ministries, Departments and Agencies to promptly reconcile their financial records to ensure transparency and accountability.

Chairman, OGHA Committee on Public Accounts and Anti-Corruption, Mr Damilare Bello, issued the directive in Abeokuta as the committee reviewed submissions from the Ministry of Transport and the Bureau of Electrical Engineering Services.

Mr Bello, alongside Majority Leader Mr Yusuf Sheriff, Minority Leader Mr Lukman Adeleye, and lawmakers Mr Waliu Owode, Mr Samsudeen Lawal, Mr Fatiu Folawewo, and Mr Babatunde Tella, cautioned the agencies to professionally collate and align their financial reports with the Auditor-General’s findings.

The committee ordered the ministry and the bureau to reconcile discrepancies in their accounts and re-present accurate records for further legislative consideration.

Lawmakers stressed that all revised submissions must correspond with the Auditor-General’s report and include supporting documents to enable a timely review process.

Responding, Permanent Secretary, Ministry of Transport, Mrs Tokunbo Peters, and the management of the Bureau of Electrical Engineering Services—led by Special Adviser to the Governor on Energy, Mr Jide Onakoya, represented by Mrs Abike Oladunjoye—assured lawmakers that they would harmonise their records with the Auditor-General’s recommendations before re-submission.

Edited by Maxwell Oyekunle

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Economy

Osun Pensioners Reject Bond Payment Claims

By Web News 201

By Mojisola Oladele

A group of pensioners in Osun State has publicly rejected government claims that outstanding pension bond payments have been settled, intensifying pressure on the administration to clear arrears.

Speaking during a protest along the Osogbo-Gbongan road, the group’s spokesperson, Mr Awodele Olusola, declared that retirees owed between 2017 and 2025 remain unpaid despite official assurances.

He insisted that the government’s disbursements so far have only scratched the surface of the total debt.

Mr Olusola said Governor Ademola Adeleke began payments in 2023, but the amount released—less than one billion naira – reached only a negligible number of beneficiaries. He added that the subsequent release of ₦4.9 billion around April/May 2024 and another ₦3.3 billion in November 2024 covered only a fraction of retirees still awaiting their bond entitlements.

He recalled campaign promises made by Governor Adeleke during the last gubernatorial election to resolve the lingering pension crisis and restore dignity to retired workers.

The pensioners called on the state government to urgently settle all outstanding bond payments and arrears, warning that continued delays deepen hardship and uncertainty for retirees across the state.

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Economy

Retirees Protest 13-Year Unpaid Entitlements, Oppose Aregbesola’s Comeback Bid

By Web News 202

By Mojisola Oladele

Retired workers in Osun State stormed the streets in a peaceful protest over years of unpaid entitlements and to resist any political comeback by former governor Rauf Aregbesola.

Members of the 2011/2012 Retired Public Servants Association of Osun State and the Unbonded Contributory Scheme Pensioners said they have battled unpaid gratuities and pension arrears for more than 13 years after leaving service.

Addressing journalists in Osogbo, the Chairman of the association, Mr. Omoniyi Ilesanmi, said the protest aimed to draw urgent public attention to policies and actions under Mr. Aregbesola’s administration that, according to the retirees, plunged workers and pensioners into prolonged hardship.

Mr. Ilesanmi alleged that officials withdrew contributory pension funds without due process and failed to remit them properly to Pension Fund Administrators, leaving many retirees in severe financial distress. He added that the introduction of half salaries and pensions for 32 months inflicted lasting economic embarrassment on workers and retirees across the state.

The protesters warned against what they described as a possible return of the former governor, insisting that unresolved pension liabilities must remain central to public discourse.

They, however, commended the administration of Governor Ademola Adeleke for taking steps to clear arrears and improve workers’ welfare, while urging the government to accelerate relief for pensioners still awaiting full payment.

Efforts to obtain a response from Mr. Aregbesola were unsuccessful as of the time of filing this report.

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Economy

Adeleke Declares Open-Door Policy for Investors

By Web News 257

‎By Funmi Ojo

Osun State Governor, Senator Ademola Adeleke, has launched the Osun State Investment Brochure, describing it as a strategic tool designed to attract investment, stimulate innovation, and accelerate sustainable economic growth across the state.

The launch, held at the Government House Banquet Hall, Government House, Osogbo, reflects the present administration’s commitment to repositioning Osun State as a competitive and investor-friendly destination within Nigeria and the global market.


‎Governor Adeleke, represented by the Deputy Governor, Prince Kola Adewusi, reaffirmed his administration’s clear policy direction, declaring that Osun State is open for business.
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‎He explained that since assuming office, his administration has pursued an investment-driven development agenda anchored on a strong public-private partnership as a pathway to sustainable growth, job creation, and shared prosperity.
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‎According to him, government policies and actions have been deliberately structured to support credible investors and stimulate economic expansion.
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‎ He said that the state recently hosted a high-level delegation of investors from Mainland China and Hong Kong, accompanied by the Owa of Ijeshaland, with discussions centred on concrete industrial development plans in key sectors such as manufacturing, agriculture, mining, and infrastructure.
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‎The Governor explained that the Investment Brochure, developed under the coordination of the Osun State Investment Promotion Agency, OSIPA, clearly outlines structured investment opportunities across priority sectors, including agriculture, solid minerals, tourism and hospitality, infrastructure, manufacturing, renewable energy, healthcare, education, and the creative economy.
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‎He assured potential investors of policy consistency, government support, and investment security, stressing that investors are regarded not merely as visitors but as valued partners in the state’s development journey.

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WEF 2026, Nigeria House Team
Economy

WEF 2026: FG Unveils Nigeria House Davos

By Web News 305

By Zaccheaus Babalola (Abuja)

The Federal Government has announced the establishment of Nigeria House Davos at the 56th Annual Meeting of the World Economic Forum (WEF) 2026, scheduled for 19–23 January 2026 in Davos, Switzerland.

The landmark initiative marks Nigeria’s first official National House on the Davos Promenade.

It provides a strategic national platform to showcase Nigeria’s economic reforms, investment readiness, institutional capacity, and cultural identity to global leaders and investors.

In a statement, the Director of Information and Public Relations at the Presidency, Mr Abiodun Oladunjoye, said Nigeria House Davos is designed to attract increased foreign direct investment (FDI), deepen strategic partnerships, and strengthen Nigeria’s global economic positioning in line with the administration’s Renewed Hope Agenda.

He explained that the project is built on a Public–Private Partnership (PPP) framework involving key ministries, including the Federal Ministry of Industry, Trade and Investment, the Ministry of Finance, and the Ministry of Foreign Affairs.

The initiative also brings together the private sector and international technical and delivery partners.

This structure blends public-sector leadership with private-sector execution expertise, ensuring a professional, credible, and high-impact national representation at the global forum.

Nigeria House Davos will operate as a sovereign convening platform for ministerial engagements, high-level roundtables, policy dialogues, investment meetings, cultural diplomacy, and strategic bilateral discussions.

The programme will run across five thematic days, focusing on solid minerals and mining value chains; trade infrastructure and agriculture; climate investment, energy and environmental sustainability; digital trade and technology; the creative economy and cultural exports; and cross-sector convergence.

Finance, legislation, investment security, and investor assurance will cut across all discussions.

For decades, leading countries and global corporations have used Davos Houses as tools of soft power, economic diplomacy, and global influence.

With Nigeria House Davos, Nigeria joins this league, presenting its story on its own terms and engaging global decision-makers directly.

The Presidency has called on key public institutions, the private sector, development finance institutions, and international partners to participate strategically, ensuring Nigeria’s debut presence on the Davos Promenade is unified, dignified, and impactful.

Nigeria House Davos, the Presidency said, reflects Nigeria’s confidence, ambition, and readiness to engage the world with clarity, credibility, and purpose.

Edited by Maxwell Oyekunle

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Economy

Abiodun Signs Ogun ₦1.669 Trillion 2026 Budget into Law

By Web News 387

By Abimbola Bamgbose

Ogun State Governor, Prince Dapo Abiodun, has signed the ₦1.669 trillion 2026 Appropriation Bill into law, marking a major step in the state’s fiscal planning for the new year.

The Governor assented to the bill on Wednesday at the Governor’s Office, Oke-Mosan, Abeokuta. The ceremony was witnessed by the Speaker of the Ogun State House of Assembly, Rt. Hon. Oludaisi Elemide, principal officers and members of the Assembly, as well as members of the State Executive Council.
Governor Abiodun had presented the Appropriation Bill, christened the “Budget of Sustainable Legacy,” to the House on December 3, 2025.

Speaking after signing the bill, the Governor announced that implementation would commence immediately after the holidays, assuring improved performance in revenue generation and expenditure.

He disclosed that the 2026 budget represents a 58 per cent increase over the 2025 budget of ₦1.054 trillion, describing it as a significant leap in Ogun State’s financial profile.

Governor Abiodun attributed the timely signing to the cooperation between the Executive and the Legislature, noting that passage of the budget before the end of the year would guarantee fiscal continuity, predictability and effective governance.

The Governor commended the Speaker and members of the House for their diligence, saying lawmakers thoroughly scrutinised the bill and engaged relevant Ministries, Departments and Agencies despite the holiday period.

In his response, the Speaker, Rt. Hon. Oludaisi Elemide, said the bill underwent rigorous legislative scrutiny to ensure it reflects the developmental priorities of the state.
He added that the Assembly worked tirelessly to ensure the budget was passed and signed into law before the end of the year.

Edited by Titilayo Kupoliyi

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Economy

There will be tremendous economic expansion in 2026 says Makinde

By Web News 320

By Iyabo Adebisi

Oyo State governor, Engineer Seyi Makinde, has called on all residents of the state to continue to cooperate with the state government, perform their civic duties and remain united so as to build the future that everyone desires for the Pacesetter State.

In a new year broadcast, Governor Makinde noted that the state government alone could not build the state, calling for continued support from residents in terms of making the state productive, lawful and peaceful in order to achieve the vision of a better and greater Oyo State.

He appreciated the residents for their resilience, trust and support in 2025, noting that though the state and its residents were hard pressed on different fronts, they were not crushed.

The governor reeled out some of the achievements of the administration in the outgone year, including the commissioning of key infrastructure projects in Ibadan and the massive progress on the 110km Ibadan Circular Road project.

He equally pointed out how the state’s commitment to moving its economy from a consumptive one to a productive economy received a major boost through the Oyo State International Agribusiness Summit and the International Tourism Summit organised in the outgone year, adding that as a result of the government’s efforts, Oyo State enjoyed relative peace amid increased insecurity across the country.

The governor said that the outgone year tested the resolve of the state, but the New Year would reward its preparations, as several efforts, including the preparation and signing of the 2026 Budget of Economic Expansion have prepared the ground for the tremendous achievements and economic uplift that will be witnessed in the state in the New Year.

Governor Makinde said further: “
“This truth guided our work in government throughout the year 2025. In times of pressure, leadership must be calm, focused, and principled. Despite political distractions and national uncertainty, Oyo State remained steady.

Our institutions continued to function. Governance did not take a back seat. We strengthened democratic processes, upheld due process in public service, and stayed committed to transparency and accountability.

“We chose consistency over noise. Systems over shortcuts. Long-term stability over short-term praise. While the year tested us, it did not stop us from building.

“In 2025, we continued to invest in infrastructure that improves daily life and supports economic activity. The commissioning of key transport infrastructure in Ibadan was not just about movement, but about dignity, order, and productivity.

“We pushed forward on the 110 km Rashidi Ladoja Circular Road as a strategic economic corridor designed to unlock growth, attract investment, and create jobs for generations to come. Some people thought they could divide us by turning this developmental project into a tool to score cheap political points. But we remained resilient and focused on leading with empathy, we listened, we acted in line with what is in the best interests of the good people of Oyo State. Under pressure, we did not abandon our development agenda.”

Makinde added, “Also in the year 2025, we took decisive steps to strengthen our productive base. Through the Oyo State International Agribusiness Summit and ongoing agribusiness initiatives, we reinforced our belief that agriculture must move beyond subsistence to structured productivity. We are building systems that connect farmers to markets, processors to supply chains, and investors to opportunities.

“Our message has been clear: Oyo State is open for serious business, grounded in planning, value creation, and long-term sustainability.

Edited by Titilayo Kupoliyi

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Economy

New Tax Law Kicks in January 1 – Tinubu

By Web News 305

President Bola Tinubu insists that the new tax laws will take effect on January 1, 2026, as planned.

This was disclosed in a statement signed by President Tinubu on Tuesday and issued by the State House.

According to the statement, this came as former Vice President Atiku Abubakar and the Peoples Democratic Party lamented the move as hasty and insensitive amidst ongoing controversies surrounding the alleged alterations to the legislation.

Report says, President Tinubu, on June 26, 2025, signed the four Tax Reform Bills into law. These laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act, and the Joint Revenue Board Act.

The Acts comprehensively overhaul the Nigerian tax landscape to drive economic growth, increase revenue generation, improve the business environment, and enhance effective tax administration across the different levels of government. While some of the laws have gone into effect, others are set to go into effect on January 1st.

Punch/Taiwo Akinola

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Economy

Adeleke Unveils Final-Year Budget Vision

By Web News 297

By Funmi Ojo

Osun State Governor, Senator Ademola Adeleke has described the 2026 budget as a strategic instrument to consolidate achievements, expand service delivery and complete key projects as his administration enters the final year of its first term.

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Merry Christmas Greetings from all of us at Radio Nigeria Ibadan

‎Governor Adeleke made this declaration while signing the 2026 Appropriation Bill into law at the Government House Banquet Hall, Okefia, Osogbo.‎

‎The Governor explained that the 2026 budget aligns with his administration’s five-point agenda and reflects renewed ambition to deepen good governance while rolling out new initiatives for the benefit of the people of Osun State.

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‎He said his administration has, over the last three fiscal years, laid a solid foundation for sustainable development by completing several abandoned projects, initiating new ones and settling billions of naira in outstanding pension and salary arrears.

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‎He noted that workers’ welfare has remained a priority, with the payment of promotion arrears and long-neglected allowances.

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‎Governor Adeleke highlighted significant investments across previously underserved sectors, including agricultural mechanisation, healthcare, school rehabilitation, energy innovation, science and climate change.

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‎Looking ahead, he described 2026 as both a year of consolidation and political transition, noting that governance would not be sacrificed despite the demands of an election year.

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‎He assured residents of full implementation of the 2026 budget and directed all ministries, departments and agencies to adhere strictly to established timelines.

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‎The governor expressed gratitude to the people of Osun for their continued support and goodwill, pledging not to disappoint workers, youths, women, artisans, students, traditional rulers and other stakeholders.

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‎Earlier, the Speaker of Osun House of Assembly, Prince Adewale Egbedun had noted that the 2026 budget reflects the effectiveness and commitment of the current government to the welfare of the people of the state.

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‎He assured that Osun House of Assembly would continue to Support the implementation and utilisation of the budget.

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‎In his remarks, the Commissioner for Budget and Economic Planning, Professor Moroof Adeleke said the budget is centred on the welfare of the citizens of the state, which was thoroughly scrutinized.

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Economy

Ekiti First to Domesticate Nigeria Tax Act

By Web News 287

By Kazeem Ayodeji

Ekiti State has taken a historic lead by becoming the first state in Nigeria to domesticate the Nigeria Tax Administration Act, following the signing into law of the Ekiti State Revenue Administration Law, 2025 by Governor Biodun Oyebanji.

The governor signed the landmark revenue law alongside the Ekiti State 2026 Budget, valued at over ₦415 billion, during a brief ceremony at the Governor’s Office in Ado-Ekiti.

Governor Oyebanji said the new law reflects his administration’s strong commitment to transparency, modern governance, and sustainable economic growth.

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He stressed that Ekiti has fully aligned its revenue framework with ongoing national tax reforms.

The governor announced that the state would adopt a comprehensive electronic payment, billing, and receipting system, noting that the move would eliminate revenue leakages and ensure that all tax payments go directly into government accounts.

He explained that the law would put an end to double taxation, protect taxpayers, improve the ease of doing business, and strengthen local governments.

The law also designates the Ekiti State Internal Revenue Service as the sole agency responsible for revenue collection in the state.

Speaking at the event, the Executive Secretary of the Joint Revenue Board, Mr Segun Adesokan, applauded Ekiti State for setting the pace and expressed optimism that other states would follow suit by domesticating the Nigeria Tax Administration Act.

‎ Edited by Maxwell Oyekunle

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Economy

OGHA Targets Value, Accountability in 2026 Budget

By Web News 297

By Omolara Adasofunjo

The Ogun State House of Assembly, OGHA, has concluded the defence of the 2026 budget proposals submitted by Ministries, Departments and Agencies, MDAs, across the state.

Chairman, House Committee on Finance and Appropriation, Mr Musefiu Lamidi, announced the completion of the exercise at the Assembly Complex, Oke-Mosan, Abeokuta, urging MDAs to place accountability, probity and value for public funds at the centre of their operations.

Mr Lamidi charged heads of agencies to embrace collective responsibility and work towards a realistic 2026 budget that genuinely reflects the aspirations of Ogun State residents. He explained that the House Committee adopted a constructive, non-adversarial approach to the budget review process, with a focus on strengthening service delivery, improving value for money and aligning expenditure with citizens’ needs.

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Expressing optimism, Mr Lamidi said the deliberations would enhance public financial management and ensure that the 2026 budget delivers measurable benefits to people across the state.

In a related development, the State Internal Revenue Service, led by its Executive Chairman, Mr Olugbenga Olaleye, reported a revenue performance of over ₦84 billion as of last October, representing more than 83 percent of the projected target for the outgoing year. He also disclosed a proposed revenue target of ₦250 billion for the next fiscal year.

Mr Olaleye stressed the need for strict implementation of newly issued federal tax laws to capture all taxable incomes, expand the tax base and block revenue leakages within the state.

Other agencies whose budget proposals came under legislative review included the Ogun State Ministry of Budget and Planning, the Ministry of Finance, and the Office of the Accountant General.

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Economy

Makinde Approves Budget of Expansion

By Web News 225

By Iyabo Adebisi

Oyo State governor, Engineer Seyi Makinde has signed over ₦892 billion into law for the 2026 fiscal year. 

The budget signing-in ceremony was held at the Executive Council Chambers of the Governor’s Office, Secretariat, Ibadan. 

Signing-in the budget tagged:” Budget of Expansion”Governor Makinde said the state employed a realistic budget to deemphasised consumption rather than production.

He reiterated that the state is poised to be productive, expand the economy and depend less on the federal government’s allocation to bring development to the state

The governor said by the middle of the year, if there is windfall, his administration would not hesitate to push the budget to a trillion naira with proposed supplementary budget to the Oyo State House of Assembly. 

In a remark, the Speaker, Oyo State House of Assembly, Debo Ogundoyin, said the 2026 Budget, of N892.08 is bold, inclusive, and strategic.

According to the speaker, the budget places clear emphasis on critical sectors such as infrastructure, education, healthcare, agriculture, youth development, and environmental sustainability, areas that directly impact the quality of life of our people.

Mr Ogundoyin lauded Makinde for his unwavering commitment to timely governance, fiscal transparency, and people-centered leadership. 

Mr Ogundoyin noted that the swift assent to the budget just days after its passage by the legislature demonstrates a shared vision between the executive and the legislature.

Earlier, the state’s Commissioner for Budget and Economic Planning, Professor Musibau Babatunde said the 2026 budget is people oriented based on science, logic and data to bring dividends of democracy to the people. 

Present at the budget signing-in ceremony included, the Olubadan of Ibadan, Oba Rashidi Ladoja, Alaafin of Oyo, Oba Abimbola Owoade, and former Speaker, Oyo State House of Assembly, Senator Monsurat Simone. 

Recalled, the governor Makinde had, on November 24, 2025, presented the 2026 Budget proposal christened the Budget of Economic Expansion, to the Assembly, with a total estimate of ₦891,985,074,480.79.

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Economy

Osun Targets Jobs, Growth Through Adire

By Web News 340

By Funmi Ojo

Osun State Governor, Senator Ademola Adeleke, has unveiled plans to reposition Adire as a major driver of economic growth, job creation and global recognition for the state.

Speaking at the opening of the Adire Osun Export Summit and Fashion Couture in Osogbo, the Governor said the state has begun realising its long-held vision of placing Adire at the centre of public consciousness.

He described the indigenous textile as a neglected goldmine with vast economic potential, and saying, the Adire development agenda is being implemented in phases, starting with public sensitisation.

He said this will be followed by a public-private partnership framework, training and capacity building, the establishment of Adire industrial hubs, and expansion into African and global markets.

The Governor explained that his administration first moved to reclaim Osun’s heritage as the birthplace of Adire, a process he said remained ongoing.

He said enforcement of Adire usage within the public service has recorded notable success.

He noted that capacity building and financial empowerment for Adire makers have faced some constraints.

Governor Adeleke said the government prioritised massive sensitisation, hosting more than five Adire-focused events in the last two years.

He said the initiatives have increased public awareness and attracted growing stakeholder interest.

The governor said the summit was designed to expose participants to business and export opportunities within the Adire industry, noting that, Adire has become a leading fashion choice across Africa and globally, attracting patronage from political leaders and business executives.

Governor Adeleke revealed that his administration is pursuing holistic development of the Adire industry through an integrated value-chain approach, adding that, this includes raw material production, university-based textile courses, equipment manufacturing, industrial facilities, export infrastructure and supportive financial systems.

The governor announced that from 2026, a comprehensive stakeholders’ implementation plan for the Adire value chain will be released.

He assured industry players of inclusive participation in the process.

While commending the organising committee, Governor Adeleke said the summit marked a critical phase in implementing the state’s vision for the Adire sub-sector.

He directed that local Adire makers must be prioritised across all value-chain activities and warned against sidelining local expertise in favour of external operators.

Edited by Maxwell Oyekunle

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Economy

Osun Emerges New Investment Hub for China

By Web News 368

By ‎Funmi Ojo

A delegation of Chinese investors from mainland China and Hong Kong has commended the Osun State Government for rapid and impressive infrastructural development across the state, which has positioned Osun as an emerging hub for industrialisation and economic growth.

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‎The investors, which cut across sectors, including food and water processing, mining, electric vehicles and agro-equipment manufacturing, gave the commendation during a dinner hosted in their honour at the Government House, Osogbo.

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‎Speaking on behalf of the delegation, the team leader and Chief Executive Officer of Yuanfar International, Ms. Nancy Chi, said the scale of ongoing road and urban infrastructure projects in Osun was already changing the perception of the state among Chinese business communities.

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‎Ms. Chi noted that while Chinese investors traditionally favoured Lagos, Ogun and Abuja, Osun was fast gaining prominence as a viable investment destination due to improved infrastructure, peace and deliberate government support for investors.

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‎She disclosed that members of the delegation were interested in establishing operations within the Osun Free Trade Zone and other parts of the state, adding that the Hong Kong government, through its investment agency, would soon invite Governor Ademola Adeleke for an official visit, with a reciprocal visit to Osun planned for 2026.

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‎Also addressing the gathering, the Owa Obokun of Ijeshaland, His Imperial Majesty, Oba Adesuyi Haastrup, revealed that the investors were considering Ilesa and other parts of Osun for the establishment of industrial plants, including proposals for a China Town, a computer village and solar-powered tricycle manufacturing facilities.

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‎In his remarks, Governor Adeleke thanked the Chinese delegation for their positive appraisal of his administration, reiterating his government’s resolve to close Osun’s long-standing infrastructure gap and create a business-friendly environment.

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‎The Governor further announced that accreditation had been secured for the study of the Chinese language at the University of Ilesa, describing the move as part of deliberate efforts to deepen economic ties with Asia.

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Economy

New Tax Law Would Ease Burden on Nigerians – Tinubu

By Web News 346

By Olawale Asake

President Bola Tinubu has assured Nigerians that the new tax laws scheduled to take effect next year will ease financial pressures by exempting food, medication, education, agriculture and shared transportation from taxation.

The assurance was given at the 8th Annual Senator Abiola Ajimobi Roundtable and 76th Posthumous Birthday, held in Ibadan and organised by the Senator Abiola Ajimobi Foundation, SAAF in collaboration with the Institute for Peace and Strategic Studies, University of Ibadan.

Represented by the Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, the President said the reforms would eliminate multiple taxation and provide relief for low-income earners, small businesses and the poor.

Speaking on the theme, “Pathways to Electoral Credibility: Reforming Political Parties, Re-engaging Citizens, and Restoring Trust in Democracy in Nigeria,” former Chief of Staff to ex-President Muhammadu Buhari, Prof. Ibrahim Gambari, said a stable and democratic Nigeria remains critical to West Africa’s growth and stability.

In her welcome address, President of the Foundation, Chief Florence Ajimobi, eulogised her late husband, noting that his legacy in Oyo State, Nigeria and humanity endures.

Dignitaries at the event included Imo State Governor, Senator Hope Uzodimma; former Ogun State Governor and APC chieftain, Chief Olusegun Osoba; the Olubadan of Ibadanland, Oba Rashidi Ladoja, represented by the Osi Olubadan, Oba Abiodun Kola-Daisi; the Soun of Ogbomosoland, Oba Ghandi Olaoye; as well as politicians, academics and the Vice-Chancellor of the University of Ibadan, Professor Kayode Adebowale.

Edited by Maxwell Oyekunle

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Economy

OYHA Opens 2026 Budget Defence Session for LGAs

By Web News 373

By Mosope Kehinde

In order to ensure a good budgeting system, which will serve as a clear roadmap for finances in the local government administration, the Oyo State House of Assembly has commenced the 2026 budget defence exercise for the 33 local government areas, LGAs, in the state.

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‎The exercise, which is a week-long activity, is being conducted by the Committee on Local Government, Chieftaincy Matters and State Honours at the Caucus Room, Oyo State House of Assembly complex, Secretariat, Ibadan.

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‎Declaring the exercise open on behalf of the Speaker, Hon. Adebo Ogundoyin, the Chairman of the Committee, Hon. Olajide Akintunde (AKT), disclosed that the budget defence is not just a routine administrative ritual, but a vital aspect of governance that promotes transparency, accountability, and development at the grassroots level.

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‎The lawmaker, who represents Lagelu State Constituency, urged local government chairmen and their teams to present their proposals clearly, justifying their projections and highlighting how their plans will improve service delivery and promote sustainable development.

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‎Hon. Akintunde also assured that the Committee would review all presentations with fairness, diligence, and commitment to strengthening governance across the 33 local government areas, in line with the Constitution of the Federal Republic of Nigeria.

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‎Also, in her remarks, the Clerk of the House, Mrs. Muraina Taiwo-Akinola, who was represented by the Deputy Clerk, Mrs. Aderonke Ogundeji, appreciated the cooperation of the committee members, local government chairmen, and their staff to ensure a hitch-free exercise.

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‎The Clerk expressed that this year’s edition of the exercise will be the second time that the Oyo State House of Assembly would be conducting the exercise with the aim of ensuring that finances of the local governments are in line with the constitution.

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‎Hon. Adeola Bamidele, who is the Vice Chairman of the Committee, and Hon. Olusola Owolabi urged local government chairmen and their staff to demonstrate more commitment to the development of their respective council areas by putting in place a good budgeting system that will take care of their immediate needs.

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‎They charged them, especially those from agrarian areas, to be productive by investing in agriculture and rearing of cows for future and long-term benefits.

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‎Speaking with newsmen on behalf of other council chairmen, the Chairman, Ogo Oluwa Local Government, Hon. Ojo Oluwaseun, appreciated the Committee’s efforts, expressing gratitude for the opportunity to access adequate funding to deliver essential services and promote development in their respective areas.

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Economy

MDAs Commences Defence of 2026 Budget Proposals

By Web News 320

By Omolara Adasofunjo

As Ministries, Departments and Agencies of Government in Ogun State commenced the defence of the 2026 budget proposals, the Chairman, House Committee on Finance and Appropriation, Mr Musefiu Lamidi said that the 2026 budget defence sessions anchored on accountability and transparency with focus on getting value for government resources towards achieving the goal of budget of sustainable legacy.

While presiding over the budget defence sessions, Mr Lamidi stated that all figures presented before the committee would be thoroughly scrutinised to ensure the completion of ongoing projects, block revenue leakages and deliver a people-oriented and sustainable budget.

While playing host to the Ministry of Health and its allied agencies led by the Commissioner for Health, Dr. Tomi Coker, the committee solicited increase and prompt release of funds for the state to achieve better budget implementation in the next fiscal year.

The House Committee stressed the need to improve on the capital performance of the sector in the next fiscal year, stressing that the Assembly would closely monitor their performance to ensure accountability and value for money.

Presenting the Ministry’s budget estimate, Dr. Coker disclosed that a sum of N17.577bn was proposed as total expenditure for the next fiscal year, with ₦5.47bn allocated for recurrent expenditure including personnel and overhead costs,  while capital expenditure stood at ₦12.103bn, representing 68.86% of the total budget.

Defending the budget proposals for the State Hospital Management Board, the Permanent Secretary, Dr. Olayinka Elemide, presented a sum of ₦61.432bn as the total expenditure for the next fiscal year, comprising 16.306 billion naira for recurrent; while 45.125 billion naira would go for capital expenditure, with expected revenue put at 1.52 billion naira.

Other agencies that defended their 2026 budget proposals before the State lawmakers include the State Primary Health Care Development Board, Olabisi Onabanjo University Teaching Hospital, the State Health Insurance Agency and State Hospitals in Ijebu-Ode, Ado-Odo/Ota, Ilaro and Abeokuta.

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Economy

NIIA DG Backs Nigeria’s Blue Economy Drive

By Web News 372

By Mary Fatile (Abuja)

Director-General of the Nigerian Institute of International Affairs (NIIA), Professor Eghosa Osaghae, has applauded the Federal Government’s renewed focus on the Blue Economy, describing the sector as “a gold mine” capable of accelerating national development if supported by strong intellectual and institutional capacity.

Professor Osaghae made the remarks at an Executive Training on the Blue Economy held in Apapa, Lagos.

He said Nigeria had finally aligned with global economic trends by embracing ocean-based development, noting that the country must invest in knowledge, capacity building, and coordinated governance to maximize opportunities.

He stressed the importance of adopting “non-kinetic approaches” to maritime security, including dialogue, cooperation, and joint problem-solving with coastal communities.

According to him, Nigeria’s ocean governance should follow the United Nations’ multi-stakeholder model, with authorities working closely with community-based organizations, civil society groups, local stakeholders, and traditional institutions.

In his opening remarks, Director-General of the International Maritime Institute of Nigeria (IMION), Rear Admiral Thaddeus Udofia (rtd), described the training as a critical step toward strengthening Nigeria’s maritime sector amid global environmental and security challenges.

He said the course was designed to deepen participants’ understanding of marine governance, enhance institutional capacity, and promote a unified national strategy for managing ocean resources.

Rear Admiral Udofia emphasized that solving maritime challenges requires not just policies and infrastructure but a well-informed cadre of professionals equipped to drive sustainable development.

The three-day training brought together naval officers and stakeholders from various institutions.

Our correspondent reports that the IMION Advanced Course will examine contemporary frameworks for blue economy development, scientific perspectives, emerging technologies, and practical strategies for balancing environmental protection with economic growth.

Edited by Maxwell Oyekunle

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Economy

Abiodun Presents ₦1.7tr Budget for 2026

By Web News 478

By Abimbola Bamgbose

Ogun State Governor Prince Dapo Abiodun has presented a ₦1.7 trillion Appropriation Bill for 2026 to the Ogun State House of Assembly, OGHA, marking a 63% increase over the 2025 budget of ₦1.046 trillion.

Speaking at the Assembly Complex, the governor said the proposed “Budget of Sustainable Legacy” aims to deepen reforms, consolidate the gains of the past six years, and drive sustainable socio-economic growth across key sectors.

Governor Abiodun outlined six policy priorities for the 2026 fiscal year: food security, human capital development, infrastructure expansion, revenue reform, community development, social protection, and economic diversification.

He noted that the budget carries a 37:63 recurrent-to-capital ratio, with ₦624.76 billion set aside for recurrent expenditure and ₦1.044 trillion dedicated to capital projects.

The allocation, he said, underscores his administration’s commitment to completing ongoing infrastructure projects and improving public amenities.

The governor urged lawmakers to give the bill thorough consideration and pledged diligent, timely implementation once approved.

Prince Abiodun expressed confidence that the 2026 fiscal year—coinciding with Ogun State’s 50th anniversary—would usher in greater progress, prosperity, and improved well-being for residents.

Edited by Maxwell Oyekunle

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Economy

Makinde Pledges Transformation of Markets

By Web News 267

By Iyabo Adebisi

Oyo State governor, Engineer Seyi Makinde, has stated that his administration would continue to do everything possible to transform markets across the state and ensure that traders can carry out their businesses in safe and secure spaces.

The governor, who was represented by the Deputy Governor, Chief Adebayo Lawal, stated this during the commissioning of the Omituntun Ultramodern Market, Omi Adio, Ibadan.

He maintained that the market, with 406 lockup shops, 56 open stalls, administrative office, security post, clear walkway and toilets, among other facilities, is the fourth of its kind in the governor’s two terms of office, with the Akesan Ultramodern Market, Oyo; Akinyele Farmers’ Market, Ibadan and the Kajola Ultramodern Market, Ogbomoso South Local Government, having come earlier.

According to the governor, the idea of building ultramodern markets is important to the government, as it intends to replicate the initiative across the state so that traders in the state will not continue to display their trades by the roadside.

Earlier, the Commissioner for Local Government and Chieftaincy Matters, Mr Demola Ojo, said the project is a testament to the governor’s commitment to creating a conducive environment for businesses.

Asiwaju of Ido Local Government and Bashorun Bamofin of Ibadanland, Chief Niyi Akintola, who welcomed dignitaries to the event, said the ultramodern market would truly make life better for our people.

He noted that the local government has experienced massive transformation under Governor Makinde’s leadership, which genuinely cares about the welfare of the people of Ido and the entire Oyo State.

Similarly, the Chairman, Ido Local Government,  Sheriff Adeojo, said the construction of the ultramodern market by the local government was a fulfillment of Governor Makinde’s campaign promise and a delivery of the dividend of democracy to the people.

The event was attended by the Olubadan of Ibadanland, Oba Senator Ladoja and other traditional rulers; commissioners; Chairmen of Local Governments in Oyo State and other dignitaries.

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Economy

Makinde Signs Oluyole Free Trade Zone Deal

By Web News 370

By Iyabo Adebisi

Oyo State Governor, Engineer Seyi Makinde, says the Oluyole Free Trade Zone will become a hub of innovation and job creation, driving long-term economic growth for the state.

He made this known during the signing of a Joint Venture Agreement between the state government and a beverages company.

Represented by his Chief of Staff, Chief Segun Ogunwuyi, the governor said his administration has focused on strengthening the ease of doing business, improving infrastructure, and opening the state to private-sector investments.

He added that the Free Trade Zone would boost industrial capacity and create thousands of jobs.

Chairman of the beverage company, Mr Tun Tun Win, thanked the governor for providing a business-friendly environment and pledged immediate commencement of operations.

Director-General of the Oyo State Investment and Public-Private Partnership Agency, Mr Tilewa Folami, stated that the project, situated along the Senator Rashidi Ladoja Circular Road corridor, would accelerate economic transformation and industrialisation in the state.

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Economy

Take advantage of Free Trade Zone, Adeleke Urges Foreign Investors‎

By Web News 325

By Funmi Ojo

Osun State Governor, Senator Ademola Adeleke says the Osun Free Trade Zone is primed for immediate business take-off.

He gave the assurance while receiving a team of Chinese multi-sectoral invest‎ors.
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‎In a statement by spokesperson to the governor, Mallam Olawale Rasheed, the delegation from Shanghai Fadewei International Trade Company Limited met with the governor at the Government House, Osogbo.
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‎During the meeting, Governor Adeleke highlighted his administration’s reforms designed to improve the state’s ease of doing business, from infrastructure upgrades to tax system automation.
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‎Senator Adeleke urged the visitors to take advantage of the openings available at the Free Trade Zone and other industrial hubs across the state.
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‎He also commended the company for choosing Osun, saying his administration’s Ministry of Commerce and Industry is equipped to give investors the best of support and facilitation services.
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‎Speaking on behalf of the Chinese delegation, Dr. Yusuf Fadairo of Shanghai Fadewei International Trade Company Limited explained that the team’s interest in Osun was driven by two factors, their admiration for global music star David Adeleke (Davido) and widespread reports of governor Adeleke’s performance.
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‎Dr. Fadairo disclosed that the group had already inspected the Osun Free Trade Zone and was impressed with the available facilities.
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‎The delegation included specialists in amusement park development, paint production, and electric tricycles, Mr. Zheng Lifa, Mr. Zhai Yikang, Mr. Yu Lu, Mr. Yao Weide, Prince Charles Ajiboye, and Mr. Bamigboye Olabode.
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Economy

Customs Generates ₦78 Billion in Oyo/Osun Command

By Web News 447

By Abisola Oluremi

The Oyo/Osun Area Command of the Nigeria Customs Service generated almost 78 billion naira in the first ten months of 2025.

Area Controller of the Command, Comptroller Gambo Aliyu, announced this at a news briefing held at the command headquarters in Ikolaba, Ibadan.

Comptroller Aliyu, the 37th Controller of the Command, said the revenue surpassed the 2024 figure by 17.5 percent.

He attributed the achievement to the dedication and commitment of officers under his command and urged them to sustain the performance.

He added that the command also recorded a duty paid value of over 818 million naira from seized contraband goods.

According to him, the seized items included foreign rice, premium motor spirit, used compressors, tyres, clothes, shoes, bags, cannabis sativa, unregistered pharmaceutical products, and vehicles.

Comptroller Aliyu called for stronger collaboration among traditional rulers, religious institutions, sister security agencies, the business community, the media, and the public to curb smuggling, which he said harms the nation’s economy.

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Economy

Idiroko Border Communities Need Power, Says NCS

By Web News 422

By Oluwatoyin Adegoke

The Nigeria Customs Service, NCS, has called for urgent interventions to resolve the persistent poor power supply to communities surrounding the Idiroko Border in Ogun State.

The Customs Area Controller for the Ogun 1 Area Command, Mr. Godwin Otunla, made the call, emphasizing that an improved electricity supply would enhance residents’ living standards and boost social and economic activities in the area.

Mr. Otunla issued the appeal at the Command’s headquarters in Idiroko during an interactive session with a management team from Radio Nigeria Paramount FM, Abeokuta, led by the station’s General Manager, Mrs. Oluremi Olugbenro.

The Controller expressed concern that the unreliable power supply has led to the indiscriminate use of generating sets, which is fueling environmental hazards and contributing to the high cost of living.

Mr. Otunla mentioned ongoing moves by the command to find a lasting solution to the problem.

He maintained that improved service from the Ibadan Electricity Distribution Company, IBEDC, and other stakeholders would boost livelihoods and support efforts toward enhanced border security and economic integration.

Mr. Otunla also reaffirmed the organization’s commitment to collaborating with the media, particularly the Federal Radio Corporation of Nigeria, to promote public enlightenment and strengthen national security awareness.

Earlier in the visit, the General Manager of Paramount FM, Mrs. Oluremi Olugbenro, assured the command of the station’s readiness to sustain its partnership in public education and grassroots mobilization for national development.

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