Television Nigerian

The 2025 budget estimate on the exchange rate of N1,500 to $1, according to Chijioke Ekechukwu, a former director-general of the Abuja Chamber of Commerce and Industry, indicates that the Tinubu administration is telling Nigerians that there is nothing it can do to decrease the exchange rate.

President Tinubu gave the National Assembly’s joint session of lawmakers a national budget of N47.96 trillion for 2025 on Tuesday.

If followed exactly, he added, the budget, which was created based on economic realities, will propel Nigerians’ prosperity in 2025 and restore and strengthen the country’s main policies.

Ekechukwu finds it concerning that the exchange rate is predicted to be N1500 to $1 in Tinubu’s appropriation bill.

There is a problem, he added on Channels Television, “because Nigerians are still thinking that probably that rate can come lower than N1500, maybe up to 1000, so there is nothing we plan to do that will bring the exchange rate lower.”

You see, there’s a problem with that projection since it dashes our hopes for a decline in the exchange rate.

“You’re just saying that the exchange rate is supposed to stay this way. Actually, if you have produced such an estimate, it indicates that you even anticipated it to stay high when discussing our oil’s production capacity.

Indeed, we can already observe that the price of oil is currently greater than the market rate.

However, we are anticipating more over two million barrels of oil production. It will be a long way off to have two million barrels per day.

Because if you look at where we are right now, we haven’t seen anything that will alter or boost oil output to reach two million barrels per day.

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However, we have already stated that ambition is a positive thing. Perhaps they have knowledge that we do not, and they have not disclosed it to us. However, that is extremely ambitious if it is only what we have observed on the ground.

“Yes, that can be accomplished in the next two or three years, but I believe it’s a bit ambitious to do so in 2025.

“The currency rate is concerning. Another extremely ambitious one is the inflation rate. You are currently unable to reach that 15% exchange rate.

15% given the current rate of inflation and the pricing of petroleum products. Since both of them are still high, you will first question, “What are those things that are the drivers of the inflation rate?”

What else will bring it down, then? Insecurity is the third one. It remains. What, therefore, is the invisible factor that will cause it to drop to 15%?

“And for that reason, I stated that one is nearly impossible to accomplish,” he continued.

In order to start his Christmas and New Year’s vacation, President Bola Tinubu has landed in Lagos State.

At 3:23 p.m. on Wednesday, Tinubu’s presidential jet landed at the Presidential Wing of the Murtala Mohammed International Airport in Lagos.

This came after Tinubu gave a joint session of the National Assembly the 2025 Appropriations Bill for the fiscal year 2025.

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“The Restoration Budget: Securing Peace, Rebuilding Prosperity” was the title of Tinubu’s 2025 budget.

Tinubu stated in the highlights that N4.91 trillion had been set aside for security and defense, N4.06 trillion for infrastructure, N3.52 trillion for education, and N2.48 trillion for health.

Tajudeen Abbas, the Speaker of the House of Representatives, reportedly told the president that the House would pay him a visit in Lagos following the presentation.

Dapo Abiodun, the governor of Ogun State, has asked citizens to observe Christmas with moderation and to help the weaker and less fortunate segments of society.

Abiodun made the request in his Christmas message during the state’s Christmas Carol and Service of Nine Lessons, which was held on Tuesday at the Arcade Ground, State Secretariat, Oke-Mosan, Abeokuta, according to a statement released on Wednesday by his Chief Press Secretary, Lekan Adeniran.

Bishop David Oyedepo of Living Faith Church Worldwide, Mrs. Bamidele Abiodun, the National President of the Christian Association of Nigeria, Most Reverend Dr. Daniel Okoh, former President Olusegun Obasanjo, former Governor of the State, Chief Olusegun Osoba, and others were among the dignitaries who attended the carol service.

Christmas, according to Abiodun, is a season that brings people together from all walks of life and emphasizes the everlasting virtues of kindness, love, compassion, and faith.

“It’s a season that encourages us to look beyond ourselves and embrace the ties of friendship and family,” he said. Let’s reach out to those in need because doing so shows the world what Christ’s life is like.

He urged people to consider the genuine meaning of Christmas, which is sharing and giving, and added that Christmas would not exist without Christ.

“It’s a time to help those in need and give back to our community,” he continued.

In order to create a society where everyone may prosper, the governor reaffirmed his administration’s commitment to uplifting the weak by promoting inclusivity.

“Programs that bring love, compassion, and empowerment throughout Ogun State will continue to be promoted by us. “Our administration has put in a lot of effort to advance sustainable development, improve infrastructure, and improve public service,” he stated.

Abiodun pointed out that the community’s strength, the people’s resiliency, and their compassion for one another are what make his administration so successful, not the legacy it leaves behind.

The governor asked people to continue the teachings of kindness, unity, and hope for a better future as they look to the new year, while praying that the spirit of Christmas will fortify ties, encourage progress, and provide peace and prosperity to every family.

The Most Reverend Daniel Okoh, President of the Christian Association of Nigeria, stated in his sermon titled “Building Our Future Together” that Christmas is a chance to make peace between God and humanity via Jesus Christ, the Prince of Peace.

The CAN President cited John 2:7 when he stated that since Jesus’ birth brought humanity closer to God, believers should promote peace rather than harbor resentment.

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“Christmas should be celebrated with everyone, not just friends.” As Christians, we have to climb the mountain of hatred and carry the weight of peace. Since only peace leads to development, now is not the time to mistreat others, he stated.

Let’s concentrate on our commonalities. There are people who have never known the joy of Christmas, therefore let’s keep the needy and impoverished in mind. He went on, “Let’s go visit the homeless to let them know they belong in society.”

He praised Governor Abiodun for leading an inclusive government that has brought together all facets of the state’s population and characterized Ogun State as a place of peace where people from all over the nation live together.

While praying for the state and the country, Bishop David Oyedepo, the Presiding Bishop of Living Faith Church (Winners Chapel), stated that although peace is elusive and unaffordable, it was brought into the world by the birth of Jesus.

He emphasized that when peace reigns, all issues are overcome, reminding Nigerians that the true meaning of Christmas is not just to celebrate but also to demonstrate love via harmonious coexistence.

The carol service’s highlights featured performances by several choirs and special guests, as well as Bible readings by the governor’s wife, the deputy governor, the speaker, the chief judge of the state, and the secretary to the state government, among others.

The Ministry of Water Resources’ Executive Management of 12 River Basin Development Authorities has been reorganized with approval from President Bola Tinubu.

This was disclosed by Mr. Bayo Onanuga, Tinubu’s Special Adviser on Information and Strategy, in a signed statement headlined “President Tinubu approves Executive Management for River Basin Development Authorities,” which was made public on Wednesday.

They are:
OGUN-OSUN RIVER BASIN DEVELOPMENT AUTHORITY, ABEOKUTA (Lagos, Oyo, Ogun and Osun)
1. Odebunmi Olusegun – Chairman (Oyo)

2. Dr. Adedeji Ashiru – Managing Director (Osun)

3. Ayo Oyalowo – Executive Director, Finance (Oyo)

4. Dokunmu Oyekunle – Executive Director, Planning and Design (Ogun)

5. Suleiman Oris – Executive Director, Agric Services (Lagos)

6 . Julius Oloro – Executive Director, Engineering (Lagos)

UPPER BENUE RIVER BASIN DEVELOPMENT AUTHORITY, YOLA. Adamawa, Taraba, Gombe and Bauchi)

1. Sanusi Babantanko – Chairman (Bauchi)

2. Samuel Mahmud Mohammed – Managing Director (Taraba)

3. Usman Bakare – Executive Director, Engineering (Taraba)

4. Ibrahim Jalo – Executive Director Finance (Gombe)

5. Isa Matori – Executive Director, Planning and Design Part of Bauchi

6. Hamman Dikko – Executive Director, Agric Services (Adamawa)

CHAD BASIN DEVELOPMENT AUTHORITY, MAIDUGURI (Borno, Yobe, and Adamawa)

1. Prof. Abdu Dauda – Chairman (Borno)

2. Tijjani Tumsa – Managing Director (Yobe)

3. Bashir Baale – Executive Director, Finance (Yobe)

4. lliyasu Muazu – Executive Director, Agric Services (Adamawa)

5. Mohammed Shetima – Executive Director, Engineering (Borno)

6. Vrati Nzonzo – Executive Director, Planning and Design (Borno)

BENIN-OWENA DEVELOPMENT AUTHORITY (Edo, Delta North, Ondo and Ekiti)

1. Mike Ezomo – Chairman (Edo)

2. Femi Adekanbi – Managing Director (Ondo)

3. Dr. Austin Izagbo – Executive Director Planning and Design (Delta)

4. Johnson Oghuma – Executive Director, Agric Services (Edo)

5. Adegboyega Bamisile – Executive Director Finance (Ekiti)

6. Bayode Akinduro – Executive Director Engineering (Ondo)

NIGER DELTA BASIN DEVELOPMENT AUTHORITY (Rivers, Bayelsa and parts of Delta)

1. Ebikemi Bosin – Chairman (Delta)

2. Amgbare Ebitimi – Managing Director (Bayelsa)

3. Mary Alagoa – Executive Director Finance (Rivers)

A bill to prohibit the use of foreign currencies for payments and transactions within Nigeria was approved by the Senate on Tuesday in its first reading.

The proposed law aims to end discriminatory practices and boost trust in the local currency by requiring that all payments, including salaries and transactions, be made in naira.

This involves requiring that export payments be made in naira.

“A Bill to amend the Central Bank of Nigeria Act, 2007, No. 7, to prohibit the use of foreign currencies for compensation and for other related matters” was the title of the bill.

The Senate Committee on Reparations and Repatriation is chaired by Senator Ned Nwoko, who sponsored it.

Senator Nwoko claims that Nigeria’s financial system’s extensive usage of foreign currencies devalues the naira and prolongs the country’s economic problems.

He said Nigeria’s economic independence is still hampered by the colonial practice of using the dollar, pound sterling, and other foreign currencies for domestic operations.

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“Prohibit salaries, transactions, and payments in foreign currencies, ensuring all workers, including expatriates, are paid in naira,” he added, was the goal of the measure.

Additionally, he suggested “selling crude oil and other exports only in naira, which would compel foreign buyers to buy the currency and increase its demand and value.”

The Naira will be “positioned as the central currency for all financial operations, reinforcing its dominance in the economy,” according to his argument.

Nwoko went on to say that the bill will outlaw black markets for currency, which threaten the official economy and promote unethical behavior like banks round-tripping.

In honor of former President Muhammadu Buhari’s 82nd birthday, President Bola Tinubu wrote a tribute to him on Tuesday.

President Muhammadu Buhari, please. I want to congratulate you on your eighty-second birthday on behalf of the Nigerian government and people.

As you commemorate this incredible occasion in Daura, we consider the years of devoted devotion and leadership that have greatly influenced the development of our country.

“Many are inspired by your unwavering dedication to Nigeria’s progress and unity, and your lasting legacy continues to direct our country’s path towards stability and prosperity,” Tinubu wrote.

In addition to encouraging “us never to give up,” he praised Buhari for his perseverance and fortitude in running for president in 2003, 2007, and 2011 before winning in 2015 and 2019.

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As the head of the first administration led by the All Progressives Congress, I will keep advancing the infrastructure legacy you left for our country.

“May you continue to experience good health, happiness, and fulfillment in all of your endeavors, both now and in the future, and may you be surrounded by the love of your family and friends on this special day.”

The President said, “Happy Birthday, and thank you for your services to Nigeria.”