Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has announced that the Federal Government has disbursed a total of N34bn in loans to students studying at tertiary institutions across the country through the “Nigeria Education Loan Fund.”

The President made this statement on Wednesday while presenting the N49.7tn 2025 budget estimates to a joint session of the National Assembly. He also highlighted that the government has allocated N826bn for infrastructure development in the education sector for the 2025 fiscal year.

He stated, “Our administration has so far disbursed N34bn to over 300,000 students via the Nigeria Education Loan Fund.”

“In the 2025 budget, we have made provision for N826.90bn for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education and the nine new higher educational institutions.”

He continued, “We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated N402bn for infrastructure investments in the health sector in the 2025 budget and another N282.65bn for the Basic Health Care Fund.”

“Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians.”

“This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.”

Nigeria’s President, Asiwaju Bola Ahmed Tinubu, on Wednesday, stated that the Federal Government aims to stabilise the exchange rate at N1,500 to the dollar to ensure the smooth implementation of the 2025 budget.

This marks a reduction of about N200 from the current rate of N1,700 to a dollar.

President Tinubu made this known while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.

“The budget projects that inflation will decline from the current rate of 34.6% to 15% next year, while the exchange rate will improve from approximately N1,700 per dollar to N1,500. The base crude oil production assumption is set at 2.06 million barrels per day”, he said.

“The projections are based on the following observations: reducing the importation of petroleum products, increasing exports of refined petroleum”. He added.

At least 32 people have tragically lost their lives during a stampede at a children’s carnival in Ibadan, the Oyo State capital, in the early hours of Wednesday.

A statement from the Commissioner for Information and Orientation, Prince Dotun Oyelade, revealed that the stampede occurred at a private children’s funfair at Islamic High School, Basorun, resulting in the deaths of 32 people, mostly children, with some others sustaining injuries.

He mentioned that the state government promptly deployed a rapid response team to the site following the incident.

The commissioner confirmed that the victims have been transported to various hospitals across Ibadan for medical treatment.

While thanking the Commissioner for Health, Dr. Oluwaserimi Ajetunmobi, for quickly activating all available response teams to assist at the scene, Oyelade emphasized that the state government will do everything possible to support the victims of the stampede during this difficult time.

He noted that the sate government was not involved in the planning of the carnival, adding that the Ministry of Health was also not carried along in the organisation of the private end of the year children funfair.

Oyelade emphasised the importance of proper coordination when organising events of such magnitude, especially those involving children and elders.

“We are currently awaiting a detailed report from the Commissioner of Police to clarify the total number of victims involved in this unfortunate incident,” he said.

The commissioner urged parents who are concerned about the whereabouts of their children to check the following medical facilities in Ibadan where affected children were taken for proper medical attention, with a valid means of identification:

• Patnas Hospital, Basorun
• Western Hospital, Basorun
• Ringroad State Hospital
• Molly Specialist Hospital
• University College Hospital (UCH)

“Oyo State Government extends its deepest sympathies to the families affected by this tragedy while also urging the public to remain calm and cooperative as relevant pieces of information are gathered and necessary supports arranged for the victims,” he added.