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Tinubu Presents N27.5tr 2024 budget to NASS, Seeks Speedy Passage

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President Bola Tinubu, on Wednesday, presented the Appropriation Bill of the Federal government for the year 2024 tagged ‘Budget of Renewed Hope’ to a joint session of the National Assembly.

This is the president’s first budget presentation to the National Assembly since assuming office on May 29.

The President arrived at the National Assembly for the presentation of the 2024 budget at about 11:09 am accompanied some ministers and aides. and senior officials.

He was led into the chamber of the House of Representatives for the presentation of the N27.5trillion Appropriation Bill to a joint session of the National Assembly which began after the rendition of the National Anthem and opening prayers.

The Federal Executive Council (FEC)on Monday approved N27.5 trillion as the 2024 budget estimate.

It will be recalled that Tinubu had about three weeks ago forwarded the 2024-2026 Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paper ( FSP), proposing an expenditure of N26.1 for the 2024 fiscal year.

After two weeks of deliberations and interface with heads of Ministries, Departments and Agencies on the revenue and expenditure projections, the Senate through its Committee on Finance approved the MTEF.

It specifically approved the N26.1 trillion proposed as 2024 budget and other parameters proposed by Tinubu.

It also approved new borrowings of N7.8 trillion, while pegging the oil price benchmark for 2024 at $73.96 and oil production at 1.78 million barrels per day.

Other parameters approved are GDP growth rate of 3.76 per cent, the inflation rate of 21.40 per cent, a suggested benchmark exchange rate of N700 to $1 and a projected budget deficit of N9.04 trillion.

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Tinubu in Anambra, Pleads for Patience, Understanding Amid Hardship

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President Bola Tinubu has issued a passionate call for unity, resilience, and renewed patriotism, urging Nigerians to stand firm behind ongoing reforms aimed at rebuilding the country’s economic foundation.

Speaking during a grand reception in Awka, Anambra State, on the occasion of his state visit, President Tinubu acknowledged the current challenges facing the nation but assured the people that the hard choices were necessary for lasting prosperity.

“We continue to plead with Nigerians for their patience and understanding,” Tinubu appealed.

“We call on all patriots and progressives to rise and continue to work hard every day for the greatness of our dear country. We have no other country but Nigeria. We must make it great as the pride of the black race.”

He reaffirmed his administration’s commitment to inclusive development, citing progress made in economic reform, infrastructure investment, and improved public finance management.

“We met near-insolvent public finance… unsustainable multiple subsidies… a chaotic and debilitating forex regime. These monsters have been tackled,” he said.

Highlighting renewed investor confidence and growth in agriculture, manufacturing, and technology, Tinubu said the “Renewed Hope Agenda” was already yielding visible results.

He particularly commended Anambra for leading in innovation and development, referencing the commissioning of the Solution Fun City and Government House Mini-City as signs of progress.

Describing Governor Chukwuma Soludo as “a brilliant man” and “a thinker who knows the way,” Tinubu added: “We are working together for a better Anambra and Nigeria.”

The president also praised Anambra State for fully implementing and even surpassing the new national minimum wage, calling it “a signal of true leadership and compassion for the working class.”

Asserting the federal government’s commitment to equitable development, Tinubu promised increased investment in roads, power, rail, and digital infrastructure across all regions, including the Southeast.

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Vatican Elects New Pope As White Smoke Rises from Sistine Chapel

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White smoke has risen above the Sistine Chapel, the signal that cardinals have chosen a new pope on the second day of the conclave. His identity, and the name he will take as pontiff, will be revealed soon.

There are 133 voting cardinals, who have all been sequestered inside the Vatican during the conclave. Any one of them needed two-thirds of the vote to become the next pope. Take a look at how the voting process works.

As soon as the news of the white smoke spread through the Italian capital, some people began running through the streets of Rome to get to St. Peter’s Square. People continue to stream into the square from every alley that leads to the Vatican.

In the square itself, people are hugging and crying tears of joy.

While earlier the crowd was angling to get a good view of the Sistine Chapel chimney, they are now inching closer to the balcony of St. Peter’s Basilica where the new pope is expected to emerge any moment.

Source: CNN

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Ned Nwoko Warns Gov Oborevwori Against Bring Old PDP Habits to APC

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The Senator representing Delta North, Ned Nwoko, has told Governor Sheriff Oborevwori of Delta State to leave “old habits” of the Peoples Democratic Party (PDP) behind as he joined the ruling All Progressives Congress (APC).

Following Oborevwori’s defection, Nwoko, in a statement addressed to the governor, advised him to ensure his move to the APC is transformative.

Although he commended the governor for dumping the PDP, he advised him to leave behind “old deals” that destroyed the opposition party in Delta State.

He said, “Leave behind the politics of survival and step into the politics of legacy.”

“No one pours new wine into old wineskins. Old habits, old politics, and the old deals that led to the gradual decline of the PDP in Delta must be left behind.”

Nwoko also maintained that the ruling party has already begun preparing for constitutional amendments, including the creation of Anioma and New Delta states.

“Let me remind you, this agenda was declared a done deal by the party leadership long before your defection, a testament to the APC’s commitment to correcting historical imbalances and ending regional marginalisation,” he said.

Therefore, he urged Oborevwori to embrace a new sense of purpose, lead the charge for constitutional reforms and demonstrate renewed dedication to fairness, inclusive development, and progressive governance.

He said: “Your defection must not be symbolic; it must be transformative. This is your opportunity to embrace a new sense of purpose and demonstrate renewed dedication to progressive governance, fairness, and inclusive development.

“The creation of Anioma State will finally give voice, identity, and institutional power to the aspirations of Delta North. It is a long overdue recognition of a people who have sought parity with their kinsmen.

“The proposed New Delta will address the deep internal asymmetries within the current Delta state structure. It will empower neglected communities, bring government closer to the people, and unlock new paths for economic growth.

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