Nigeria’s President, Asiwaju Bola Ahmed Tinubu, is set to present the N47.9 trillion 2025 budget to the National Assembly on December 17.

Senate President Godswill Akpabio announced this development at a plenary on Thursday.

“The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024,” Akpabio said.

On November 14, the federal government proposed N47.9 trillion as the total expenditure for the 2025 budget.

Tinubu later submitted the medium-term expenditure framework and fiscal strategy paper (MTEF/FSP) for 2025–2027 to both the Senate and the House of Representatives on November 19.

The MTEF/FSP outlines the parameters on which any national budget is based and also serves as a projection for the federal government’s three-year spending plan.

On December 3, the Senate approved the MTEF/FSP ahead of the consideration of the 2025 budget proposal.

In the MTEF/FSP, the key parameters include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels per day (bpd), an exchange rate of N1,400 to $1, and a targeted gross domestic product (GDP) growth rate of 6.4 percent.

The expenditure framework also includes a new borrowing plan of N9.22 trillion, covering both domestic and foreign borrowings.

In a landmark gesture to showcase Ogun State’s commitment to fostering a conducive environment for real estate development, the Ogun State Government, under the able leadership of His Excellency, Prince (Dr) Dapo Abiodun MFR, CON, has issued the Certificates of Occupancy (C of O) for Treasure Park and Gardens Phase 2 (City of David) and Treasure Park and Gardens phase 3 (Capetown Estate), to the foremost real estate developer in Nigeria, Adron Homes.

This milestone reflects the state government’s unwavering dedication to partnering with credible organizations that are driving development and growth in the real estate sector. By issuing the C of O to Adron Homes, the Ogun State Government has not only demonstrated its efficiency in processing land documentation, but has also emphasized its trust in reputable developers who prioritize excellence and compliance in their operations.

This recent issuance of the C of O by the Ogun State Government marks the second time the state has demonstrated its strong belief in the power of Public-Private Partnerships to drive development. During the tenure of the previous administration, the past governor, His Excellency, Senator Ibikunle Amosun, similarly issued Certificates of Occupancy for Treasure Park and Gardens Phase 1 (Genesis Estate), and Treasure Park and Gardens (Glasshouse Estate). This continued collaboration shows a consistent commitment to fostering a thriving real estate sector, creating jobs, and delivering quality housing solutions for the people of Ogun State.

The Chairman of Adron Homes and Properties, Aare Adetola Emmanuelking, expressed his gratitude to the Ogun State Government for its prompt issuance of the C of O. He commended the leadership of Governor Dapo Abiodun for maintaining a business-friendly environment that enables real estate developers to contribute meaningfully to the state’s housing development agenda.

“We are deeply honored by this gesture, as it further validates our commitment to building world-class estates that provide comfort, security, and long-term value for our clients. Treasure Park and Gardens Phase 2 (City of David), and Treasure Park and Gardens phase 3 (Capetown Estate) in Shimawa are demonstrations of our vision of making luxury affordable, with state-of-the-art infrastructure and facilities that cater to the modern homeowner. This partnership with the Ogun State Government strengthens our resolutuons to expand access to quality housing for all Nigerians,” the Chairman said.

The Treasure Park and Gardens Estates, situated in the serene locale of Shimawa, Ogun State, offers residents a harmonious blend of tranquility and accessibility. With meticulously planned layouts, paved roads, modern drainage systems, recreational spaces, and lots more, these estates set a benchmark for sustainable living. The issuance of the C of O now provides an added layer of assurance to current and prospective investors, reaffirming Adron Homes’ reputation as a trusted leader in real estate development.

The issuance of the C of O marks a significant chapter in the Treasure Park and Gardens Estates’ journey, and reinforces the Ogun State Government’s commitment to driving development, investment, and prosperity in the real estate sector.

For more information about Adron Homes, and the Treasure Park and Gardens Estates, visit www.adronhomesproperties.com

E-signed

Maureen Echefu

Chief Press Secretary, Adron Group

The member representing Jos South and East Federal Constituency, “Alfred Illiya Ajang,” has defected from the Labour Party (LP) to the All Progressives Congress (APC).

In a letter read by the Speaker of the House of Representatives, “Tajudeen Abbas,” during plenary on Thursday, the now-defected member claimed that the crisis in the Labour Party was the reason for his defection.

The House was thrown into a rowdy session as some lawmakers raised eyebrows over the content of the letter.

Lending his voice, Minority Leader “Kingsley Chinda” says the letter is not in accordance with the constitution of the House and, as such, should be rejected.

He said that as a standing order, any member who wishes to defect must first inform his constituents and party members on the platform on which he was elected before any letter is read.

Chinda argued that since this criterion has not been met, the letter should not be admitted.

The speaker, however, overrode the observation.

Meanwhile, a former Minister of Labour and Employment and now-serving senator “Simon Lalong” was at the House of Representatives complex to witness the defection and give support to his colleague.

The House had earlier suspended its rules to admit Lalong, representing Plateau South senatorial district.

His defection from the LP to the ruling APC adds to the swelling number of federal lawmakers dumping one of Nigeria’s main opposition parties.

A few days back, another lawmaker, “Dalyop Chollom,” representing Barkin Ladi/Riyom Federal Constituency, dumped the LP for the APC. He cited the crisis in the party as his reason.

Some weeks back, four members of the House of Representatives dumped the LP for the ruling party, citing squabbles in the Labour Party.

Following their defection, the LP threatened legal action and claimed their action was unconstitutional.

The Labour Party made inroads in national politics in the 2023 general election years after its formation. It got six Senate and 34 House of Representatives seats.