National News
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
By: Michael Mike
The lProceeds of the N250 billion Sovereign Sukuk issued last December by the Debt Management Office (DMO) would be released as part of the 2021 capital expenditure, the federal government on Thursday revealed.
Speaking at the symbolic cheque presentation ceremony of the N250 billion Sukuk proceeds to the implementing ministries, The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said this is in line with the Appropriation Act, which had been extended to March 31, 2022 by the National Assembly.
The Minister also disclosed that a total of N3.4 trillion had been released for capital projects as of November 2021.
She said that since the emergence of Sukuk as a financing window for infrastructure in September 2017, a total of N362.557 billion had been released to the Federal Ministry of Works and Housing to fund key road projects.
The Minister said in view of the significant milestones recorded in the use of Sukuk funds in the reconstruction and rehabilitation of road infrastructure, with visible evidence, the government decided to incorporate other ministries with critical road projects into the Sukuk funding structure.
She said: “Today, we have the Federal Capital Territory Administration (FCTA) and Ministry of Niger Delta Affairs (MNDA) joining us.
“The three ministries (FMWH, FCTA and MNDA) will be sharing the Sukuk issue proceeds of N250 billion, which was successfully issued by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria on December 29, 202.”
According to her: The N250 billion gives the Federal Ministry of Works and Housing N210,565,000,000.00; Federal Capital Territory Administration (FCTA), N29,000,000,000.00; and the Ministry of Niger Delta Affairs, N10,435,000,000.00.
On the performance of the 2021 budget Ahmed noted that as of November 2021, N3.4 trillion had been expended on capital projects, which represents over 74 per cent performance when compared to the total capital budget of N4.569 trillion.
She said out of the released N3.4 trillion, N2.98 trillion represents 83 per cent of the provision for ministries, departments and agencies (MDAs’) capital, N369.9 billion for Multi-lateral/Bilateral Project-tied loans, and N49.52 billion as Government Owned Enterprises (GOEs) capital expenditure.
The Minister while assuring that the government would continue to prioritise spending on critical infrastructure in order to sustain the momentum on gross domestic product (GDP), she noted that the 4.2 per cent projected growth in 2022 can only be possible through steady increase in spending on critical infrastructure, such as roads.
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Ahmed said: “I wish to congratulate the DMO for the introduction of the Sovereign Sukuk and for the successes recorded in raising the funds through the product, which now stands at a total sum of N612.557 billion,” the minister said.
In her remarks, the Director General, DMO, Ms. Patience Oniha expressed delight that since the debut N100 billion over Sukuk in September 2017, the DMO had issued three more, getting better each time and bringing the total amount so far raised through the Sukuk window to N612 557 billion.
Oniha noted that the introduction of Sukuk as a source of raising funds for the government has improved road infrastructure across the six geo-political zones.
According to her, the acceptance of Sukuk by investors and the verifiable evidence of its benefits had encouraged some state governments and institutions to raise funds through Sukuk issuance.
Oniha on the last Sukuk issued in December 29, 2021 said the level of investor interest in the product was evident from the subscription of over N865 billion received from diverse investors for the N250 billion offered.
Also speaking at the event, the Minister of Works and Housing, Babatunde Fashola highlighted some of the results achieved with the proceeds of Sukuk since its debut in 2017.
He said the first Sukuk of N100 billion was deployed to 25 roads with a total delivery of 482 kilometers of roads across the country, while the second Sukuk in 2018 of the same amount was deployed to 28 roads and delivered a total of 683 kilometers of roads.
The minister added that the third Sukuk issued in 2020 for N162 billion was deployed to 44 roads with a total of 757 kilometers of roads delivered.
Fashola however noted that: “Many of the roads have been awarded before we came and it was not funded. And each year Sukuk commits to milestone kilometers you must deliver with this money and the managers with the consultants and our people go to sites to monitor and verify before payment is made.
“But another impact of it is that it has helped to create consistent employment for 97 construction and contracting companies who are keeping people at work. We are demanding supply and diesel, bitumen, asphalt, concrete and that is how the money is moving round the economy.”
Ministers from the two other implementing ministries of the N250 billion Sukuk proceeds, the FCT Minister, Mohammed Bello and his Niger Delta Affairs counterpart, Senator Godswill Akpabio were at the event.
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
National News
“While the rest of us sleep, you keep watch over Nigeria” — Governor Diri praises soldiers’ sacrifices
“While the rest of us sleep, you keep watch over Nigeria” — Governor Diri praises soldiers’ sacrifices
By: Zagazola Makama
Governor Douye Diri of Bayelsa State has lauded the Nigerian Army for the sacrifices made by soldiers in protecting the country, describing their efforts as vital for national security and peace.
Governor Diri spoke during a courtesy visit by the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, and a delegation of senior military officers to Government House, Yenagoa, on Thursday.

The purpose of his visit to Bayelsa State was to commiserate with the state government over the loss of the Deputy Governor, Senator Lawrence Ewhrudjakpo, and to express the Nigerian Army’s appreciation for the support and cooperation extended to military formations operating in the state.
The visit also aimed at strengthening civil-military relations, assessing the operational environment within the Area of Responsibility of the 6 Division, and reaffirming the Army’s commitment to sustaining peace and security in Bayelsa State and the wider Niger Delta region.
Addressing the COAS and senior officers, Governor Diri said, “Do not mind what ignorant people may say. For those of us in government, we see and appreciate the sacrifices you make for this country. While the rest of us sleep, you keep watch over Nigeria.”
“Our soldiers pay the ultimate price so that we can live in peace; Bayelsa will never take their sacrifices for granted,” Diri said.
The Governor praised the military for maintaining peace and security in Bayelsa State, noting that the collaboration between the Nigerian Army and state government had made the state one of the safest in the country.

Diri said soldiers had continued to place the security of the nation above personal comfort, often operating under difficult conditions and away from their families to ensure peace and stability in Bayelsa and the wider region.
According to him, the state remains deeply appreciative of the professionalism, discipline and selfless service of military personnel, noting that their sacrifices have contributed significantly to the relative peace and safety currently enjoyed in Bayelsa.
The governor said the state government recognised that the burden borne by soldiers extended beyond the battlefield, stressing that adequate welfare and decent accommodation were critical to sustaining morale and operational effectiveness.
Diri assured the Nigerian Army of the state’s continued support and cooperation, adding that Bayelsa would remain committed to strengthening civil-military relations in recognition of the sacrifices made by security personnel in the line of duty.
He commended the GOC, Garison and brigade commanders as well as officers for working diligently with civilians and government authorities to protect lives and property.
Governor Diri also highlighted the state’s support to the Nigerian Army, particularly the construction of residential accommodation within the 16 Brigade’s area of responsibility.
The project includes nine units of three-bedroom senior non-commissioned officers’ apartments and two blocks of nine two-bedroom non-commissioned officers’ apartments, aimed at easing accommodation challenges for soldiers and boosting their operational efficiency.
He described the initiative as a “gesture that demonstrates our commitment to supporting the men and women who defend our territorial integrity” and assured the military of continued collaboration for the mutual benefit of the state and national security.
The COAS, Lieutenant General Waidi Shaibu, commended Governor Diri for the support and reiterated the Army’s appreciation for the cooperation with the state government, describing it as crucial for enhancing the welfare of soldiers and the effectiveness of security operations.
The visit also drew members of the State House of Assembly, the State Executive Council, senior military officers, as well as Principal staff Officer from the Army Headquarters who witnessed the interactions between the state government and the Army leadership.
“While the rest of us sleep, you keep watch over Nigeria” — Governor Diri praises soldiers’ sacrifices
National News
Civil Society Groups Slam Tinubu, National Assembly Over Budget Re-enactment, Demand Fiscal Transparency
Civil Society Groups Slam Tinubu, National Assembly Over Budget Re-enactment, Demand Fiscal Transparency
By: Michael Mike
A coalition of Nigerian civil society organisations has accused President Bola Tinubu and the National Assembly of breaching constitutional and fiscal laws through the repeal and re-enactment of the 2024 and 2025 Appropriation Acts, warning that the actions undermine transparency and democratic accountability.
In a statement issued in Abuja, under the platform Nigerian Economy Civil Society Action, the groups described the development as a dangerous abuse of fiscal process, alleging that billions of naira were spent without prior legislative approval.
The organisations expressed outrage that eighteen days after the presentation of the federal executive budget, neither the Budget Office of the Federation nor the National Assembly had made the budget documents publicly available. They said the absence of published budget details prevented citizens from scrutinising government spending and participating meaningfully in the budgeting process.
According to the groups, the situation was worsened by the repeal and re-enactment of the 2024 and 2025 Appropriation Acts without public hearings or access to the revised documents. They argued that the move violated constitutional provisions which require legislative approval before any public funds are expended.
The coalition noted that the 2024 Appropriation Act, which originally expired at the end of December 2024, was controversially extended by the National Assembly to mid-2025 and later to December 2025. They alleged that despite the extensions, the executive failed to implement the budget as approved before seeking to repeal and re-enact it with an increased expenditure figure, raising the total budget size from ₦35.05 trillion to ₦43.56 trillion.
Describing the process as unprecedented, the groups argued that increasing a budget after its lifespan had ended had no basis in Nigerian law. They maintained that the spending of additional public funds without prior authorisation amounted to a constitutional violation, noting that Nigeria was not operating under a declared fiscal emergency at the time.
On the 2025 budget, the organisations faulted the decision to revise expenditure figures at the end of the fiscal year rather than through a mid-year review, which they said is the globally accepted practice. They rejected claims by the National Assembly that the repeal and re-enactment were intended to align Nigeria’s budgeting process with international best practices.
The groups cited provisions of the Constitution and the Fiscal Responsibility Act which mandate transparency, legislative oversight, and public disclosure of government financial decisions. They said the continued refusal to publish budget documents violated these laws and eroded public trust.
As part of their demands, the civil society organisations called on the National Assembly to halt all unappropriated spending, warning that such actions could constitute grounds for impeachment. They also demanded a firm commitment from the President to comply strictly with constitutional spending limits.
The coalition further urged the immediate publication of the 2026 budget estimates and the re-enacted 2024 and 2025 Appropriation Acts on official government platforms, alongside renewed guarantees of citizen participation in fiscal decision-making.
The statement was jointly signed by the Centre for Social Justice, Africa Network for Environment and Economic Justice, Civil Society Legislative Advocacy Centre, BudgIT, PRIMORG, PLSI and other advocacy groups.
Civil Society Groups Slam Tinubu, National Assembly Over Budget Re-enactment, Demand Fiscal Transparency
National News
UN Urges Nigerian Authorities to Protect Civilians, Schools After Fresh Niger State Attacks
UN Urges Nigerian Authorities to Protect Civilians, Schools After Fresh Niger State Attacks
By: Michael Mike
The United Nations has called on Nigerian authorities to urgently strengthen the protection of civilians and educational institutions following a wave of violent attacks in Niger State and neighbouring areas that left dozens of people dead and many others abducted.
The UN Resident and Humanitarian Coordinator in Nigeria, Mohamed Fall, issued the appeal after assailants attacked a crowded market in Kasuwan Daji, Borgu Local Government Area of Niger State on January 3.
Reports indicate that more than 30 people were killed in the attack, while an undetermined number of victims were taken away by the attackers. Market stalls and residential buildings were also torched during the raid.
Security incidents were also reported in Agwara Local Government Area of Niger State, as well as in parts of Kwara and Ondo states, with casualties including deaths and kidnappings. The renewed violence has heightened fears among residents already grappling with prolonged insecurity across the region.
Agwara local government area has remained a flashpoint for attacks on civilian targets. In November 2025, armed groups abducted more than 300 people during an assault on Saint Mary’s Catholic School in the area. Although the victims were later released, the incident drew national and international condemnation and renewed attention to the vulnerability of schools in conflict-affected communities.
Describing the recent attacks as serious violations of human rights, the UN official stressed that assaults on civilians, particularly women and children, erode the right to life and disrupt access to education. He warned that continued attacks on schools threaten children’s safety and undermine efforts to keep them in classrooms.
The United Nations extended condolences to families who lost relatives in the attacks and wished those injured a speedy recovery. It also called for the immediate release of all abducted persons and urged Nigerian authorities to ensure that those responsible are brought to justice in line with national and international legal standards.
Reaffirming its stance on education in emergencies, the UN reminded Nigeria of its commitment to the Safe Schools Declaration, which aims to protect schools from military use and violent attacks. The organisation noted that recent incidents highlight the urgent need to translate these commitments into concrete action.
The UN said it remains ready to work with federal and state authorities to improve civilian protection and promote safer learning environments amid Nigeria’s ongoing security challenges.
UN Urges Nigerian Authorities to Protect Civilians, Schools After Fresh Niger State Attacks
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