🚨 Breaking: US Congress finally ends the government shutdown with a $1.2T funding bill! Democrats stepped in to help Speaker Johnson, averting chaos for DHS and ICE. Relief for federal workers? 🇺🇸 #USPolitics#GovernmentShutdown
@AramideOyekunle Important for me to take notes using pen. I love writing than typing.
As a photographer, it helps my clients get a better view of their photos.
I sometimes use it for editing photos on the go
FG Proposes N41bn Budget for 109 Foreign Missions Upgrade
The Federal Government has proposed over N41bn in the 2026 budget for the renovation, furnishing, and equipping of 109 Nigerian foreign missions
President Tinubu Approves Write-Off of NNPC’s $1.42bn and ₦5.57tn Debt to Federation Account.
President Bola Ahmed Tinubu has authorized the cancellation of significant debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, erasing obligations totaling $1.42 billion and ₦5.57 trillion. The decision follows a detailed reconciliation between government agencies aimed at resolving long-standing financial discrepancies.
The approval was documented by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and presented at the November 2025 meeting of the Federation Account Allocation Committee (FAAC). The report, titled “Report of October 2025 Revenue Collection Presented at the Federation Account Allocation Committee Meeting Held on 18th November 2025,” was obtained by The PUNCH and sheds light on the fiscal dealings between NNPC Ltd and the federation.
The debts were cleared after a thorough review of records between NNPC Ltd and the Federation Account, addressing unresolved issues related to crude oil revenue remittances, cost recoveries, and subsidy-related deductions. The exercise examined historical obligations from crude oil sales, joint venture cash calls, production losses, pipeline maintenance, and legacy subsidy claims accumulated over several years.
Officials said the reconciliation aimed to resolve inherited accounting challenges, align financial records with post-Petroleum Industry Act reforms, and create a transparent baseline for future revenue remittances.
Nigeria Recalls Fighter Aircraft from Benin Republic Following Stabilization After Failed Coup
Nigeria has called back the fighter jets it had sent to Benin Republic after determining that the security situation in the West African nation had returned to stability, following a brief and unsuccessful coup attempt on Sunday.
Sources indicate that the aircraft, which were dispatched from Lagos for airspace monitoring and regional surveillance purposes, received orders to return home on Sunday afternoon. This decision came after fresh intelligence reports verified that forces loyal to the government in Benin had regained control and that no direct security threat existed to Nigerian territory.
Naira Hits Strongest Level of 2025 at Official FX Market
The naira on Thursday appreciated to N1,455.23 per dollar at the official foreign exchange (FX) market, marking a 1.36 percent gain from the N1,475.34/$ recorded on September 30. This is the first time the currency has traded in the N1,400 range since May 2024.
The latest performance represents the naira’s strongest showing in 2025 and the best level since the Central Bank of Nigeria (CBN) introduced the Electronic Foreign Exchange Matching System (EFEMS) in December 2024. At the time of the transition, the naira had weakened to around N1,660/$ at the official window.
In his Independence Day broadcast on October 1, President Bola Tinubu said the reforms were yielding results.
“The naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024,” he said. “The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows.”
Market optimism was also boosted by comments from Abdul Samad Rabiu, chairman of BUA Group, who predicted on September 25 that the naira could strengthen further to between N1,300 and N1,400 by year end.
The recent gains highlight renewed confidence in Nigeria’s FX market, though analysts caution that sustained appreciation will depend on continued inflows, effective CBN intervention, and stability in global oil markets.