It’s time to discuss Major Funds!
On April 17, President Tinubu approved the 2026 Budget Law, which allocates a total of N68.32 trillion.
Keep in mind: The budget amount increased by a significant 9 per cent, reaching N58.18 trillion, between the presidential submission and the National Assembly’s approval. There was no public review of what was added, who added it, or the reasons behind it.
This we are certain of: Tinubuallocatedmore than N1.01 trillion to INEC for the 2027 election. He alsoprovidedThe incredible amount of N135bn was not allocated to improve the quality of the elections, but rather for election-related legal battles: similar to how you plan finances in advance for illness and medical procedures instead of for maintaining good health.
The Policy and Law Advocacy Centercried”Greater Sizes, Common Shortcomings.” The IMFcited budget execution gaps.
The government remained secretive about the specific details of the budget, resulting in the Centre for Social Justicedemandingthat the Director-General of the Budget Office, Tanimu Yakubu, must either release the document right away or step down.
The government opted to violate Nigeria’s fiscal law instead of releasing budget reports for three straight quarters, according to the Foundation for Investigative Journalism.affirmed.
Even with all of that and more, the budget hadnot been publishedby the end of the previous week.
Big Money: In January, SERAP filed a lawsuit against INEC for not providing an account of “the missing or misappropriated N55.9 billion” related to the 2019 general elections, after the2022 Auditor-General’s report issued last September.
Issues highlighted in the report by INEC are:
- Contract Awards Without Proper Procedure (over N41.3bn)
- Unusual Payment for Smart Card Readers (exceeding N5.31bn)
- Procurement Involving Conflicting Supporting Documents (over N331m)
- Payments not supported by a receipt or proof of delivery (N3.485)
- Payments that did not include the required 1% stamp duty (exceeding N2.19 billion)
- Unusual Granting of Contract for four Toyota Land Cruisers (over N297m)
This is intriguing considering that several months following the release of the Auditor-General’s report, INEC boasted aboutsavings of N1.1 trillion from “procurement reforms.”
Contemplate, for a brief moment, that report together with INEC’s procurement purity, within the same sentence.
Big Cash: Former Power Minister Saleh Mamman,convicted of 12 charges, including utilizing private companies to channel funds associated with government-supported power stations, has beensentencedsentenced to 75 years in prison for money laundering N33.8bn.
Understanding how rare this is in Nigeria, I would have remarked, “Greed, served!” However, Mamman is absent (wink-wink).
He did not appear in court for a verdict: another example of how, when you are a powerful individual with significant wealth, you can shape your own form of justice.
This is why governors with limited terms quickly travel to Abuja from their states once another person assumes their position, seeking the most secure refuge in the country: the Senate!
We are unable to endorse “Greed, served!” when more than 60 percent of corruption cases involving public officials from the ruling party remain unaddressed after more than a decade, withcredible dataclearly highlighting that only 144 out of 393 cases concluded with a final decision from 2013 to 2026.
Which makes me recall: the March 2026OECD Anti-Bribery and Ethics Outlook 2026discovered a 26-percentage-point difference between the regulation and actual implementation of integrity. This is especially intriguing since, in Nigeria, integrity may be the most despised word within the halls of power. We don’t use it or even write it.
More significant financial problems surfaced last week in a shocking report regarding themisuse of more than N800 billionreportedly redirected from federal funds by APC governors to support President Tinubu’s bid for re-election.
If accurate, this would mean state money is being illegally transferred into the president’s private account. The government quickly rejected the claims.
As with the World Bank report, the African Democratic Party hasdemandedthat the issue be examined.
Lastly, if you haven’t already, you ought to read theWorld Bank’s April 2026 Development Report titled, “Nigeria’s TomorrowBegin Today: The Argument for Early Childhood Development.
It describes the Nigerian economy as weak, highlighting that inflation is severely affecting families. It also mentioned that FAAC total revenues increased from N17.1 trillion in 2024 to N37.4 trillion in 2025, rising from 7.9 per cent to 9.5 per cent of GDP, butflags 5,000 TSA gaps.
It also forecasted that the number of impoverished Nigerians increased from approximately 40 million in 2019 to more than 60 million throughout Bola Tinubu’s tenure.
The Bank recognizes some advancements in reforms but urges significant further action: enhanced monetary execution, greater organic foreign exchange flows, reform within the electricity sector, reduced governance costs, increased non-oil revenue, better fiscal management, resolution of audit backlogs, monthly reconciled financial data, and more reliable budgets.
At the highest levels of Nigerian administration, they likely exchanged knowing glances and laughed: “More ke? Let’s do more?”
However, the key aspect of the report is the warning it highlights regarding Nigerian children, with the Bank categorizing Early Childhood Development as a crucial economic focus.
The World Bank’s figures:
- Nigeria records approximately 7 million births annually.
- More than 110 children out of every 1,000 pass away before reaching the age of five.
- More than 40 percent of children are underdeveloped.
- More than 52 percent are not developmentally on schedule.
- Just 30 percent of children between the ages of 3 and 5 can recognize five letters, while 34 percent can identify numbers from 1 to 5.
The report highlights that children who are not stunted have a 1.6 times higher chance of finishing primary school and more than double the likelihood of completing secondary school. It also mentions that Nigeria’s under-five mortality and stunting rates are considerably worse compared to nations with comparable income levels.
Meaning: The city known as the poverty capital of the world faces another significant human capital issue that may not align with the Renewed Hope framework or perspective: early deprivation leads to academic failure, followed by limited involvement in the labor market, and eventually reduced national productivity.
Bear in mind: this is a country where, seven years ago, the ruling APCpledgedthat it could elevate 100 million Nigerians above the poverty line within a decade.
However, this is not a promise that APC is pleased with, as Nigeria is moving further into poverty under its careful management. While its leaders take loans and spend money, traveling in executive jets and bulletproof SUVs, the party does not refer to the commitment nor offer any apologies.
APC has a significant personality issue, which is why it does not acknowledge itsofficial manifesto, nor even Jagaban’s remodeled, orRenewed Hope. Each one is filled with promises that no one keeps or even recalls.
So, who will inform APC to protect the Nigerian child?
This is precisely why Nigeria has turned into a place filled with empty talk and false promises, where neither the country nor its people hold any real value. Since you can take what isn’t yours, you cannot offer something you don’t possess.
Provided by SyndiGate Media Inc.Syndigate.info).
