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Venezuela Oil Crisis Threatens Nigeria’s ₦58 Trillion 2026 Budget, Experts Warn.
According to Nivo News, geopolitical developments in Venezuela and potential shifts in global oil supply could place serious pressure on Nigeria’s ₦58.18 trillion 2026 budget. Analysts warn that a resurgence of Venezuelan crude in international markets may drive oil prices downward, threatening projected revenues that underpin key fiscal assumptions.....KINDLY READ THE FULL STORY HERE▶
Nigeria’s 2026 budget is predicated on oil production of 673 million barrels, about 1.84 million barrels per day, at a benchmark price of $64.85 per barrel. The National Assembly has proposed a more conservative benchmark of $60 per barrel, yet experts suggest that global crude could drop to $50 per barrel if Venezuelan output increases, potentially reducing oil revenue by roughly $10.24 billion.
The situation follows the reported capture of former Venezuelan President Nicolás Maduro and moves by the U.S. to boost Venezuela’s oil production. While output may not immediately return to pre-sanctions levels, a full recovery could flood global markets with additional crude, adding downward pressure on prices. Before sanctions tightened in 2019, Venezuela exported roughly 707 million barrels annually, with the U.S. consuming 32% of that volume. Exports fell sharply under sanctions and have only partially recovered through non-standard trade arrangements with China and India.
OPEC producers, including Saudi Arabia, Russia, and Iraq, have reaffirmed their commitment to market stability. However, analysts note that increased Venezuelan supply could still destabilise prices, directly affecting Nigeria’s oil-dependent fiscal projections. The 2026 budget allocates ₦15.52 trillion for debt servicing, ₦15.25 trillion for recurrent non-debt expenditure, and ₦26.08 trillion for capital projects, with a projected deficit of ₦23.85 trillion, or 4.28% of GDP.
Experts warn that structural issues—such as underinvestment, oil theft, pipeline vandalism, and declining output from mature fields—could prevent Nigeria from meeting production targets, further exacerbating revenue shortfalls. Lower oil receipts would also affect foreign exchange inflows, potentially pressuring the naira and complicating budget execution amid upcoming 2027 elections.
Petroleum economists stress that a derisked Venezuelan oil sector could attract investment away from Nigeria, slowing local oil and gas development, while increased supply would place further downward pressure on prices. Analysts urge more conservative budgeting, strengthened non-oil revenue mobilisation, and tighter fiscal discipline to safeguard the country against volatile crude markets.
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“Keep Quiet!” – Presidency Launches Blistering Attack On Peter Obi Over State Police Remarks!.
The Presidency has voiced its frustration regarding recent statements made by Peter Obi, the former governor of Anambra State, concerning the Tinubu administration’s initiative to implement a state police system.....KINDLY READ THE FULL STORY HERE▶
While Obi acknowledged the National Assembly’s passage of the State Police Bill as a positive development, he raised significant concerns regarding the legislative process, which he characterized as disorderly and lacking in necessary consultation. In a statement titled “State Police: Commendable Step, but Disorderly Legislation Raises Concerns of Political Misuse,” Obi argued that the haste of the legislation has triggered suspicions of political motives. The 2027 presidential candidate for the Nigeria Democratic Congress (NDC) emphasized that the primary apprehension regarding state police is not logistics, but rather the potential for governors to manipulate these forces for political purposes.
In a prompt response, Dada Olusegun, Special Assistant to President Tinubu on Social Media, criticized Obi’s position as “tragic”. Olusegun took to to express his disapproval, suggesting that it would have been preferable for the former presidential candidate to remain silent on the matter.
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Renewed Hope In Health! President Tinubu Unveils Massive Digital Overhaul With New Appointment!.
President Bola Ahmed Tinubu has authorized the creation of the National Health Technology and Data Analytics Office (NHTDAO) and appointed Dr. Obi Adigwe as its inaugural National Coordinator. This announcement was made on Friday by Bayo Onanuga, the President’s Special Adviser on Information and Strategy.....KINDLY READ THE FULL STORY HERE▶
The new agency will be housed within the Office of the Coordinating Minister of Health and Social Welfare to serve as a national hub for coordinating the country’s digital health initiatives. Key functions of the office include:
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Harmonizing and empowering both public and private health institutions across the system.
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Establishing standards to connect these institutions.
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Operationalizing the National Digital Health Architecture, which the National Council on Health approved in November 2025.
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Reinforcing, rather than replacing, the existing statutory functions of relevant agencies and departments.
Dr. Adigwe, who previously served as the Director General of the National Institute for Pharmaceutical Research and Development, brings significant experience in utilizing science to drive advancements in technology transfer, artificial intelligence, and translational research. His notable achievements include coordinating a ¥300 million nanotechnology grant, leading a roadmap that secured an €18 million EU grant, and directing a project for Africa’s first API Training Facility. Additionally, he gained international recognition during the pandemic for conducting the world’s first analysis to challenge claims regarding the Covid Organics preparation.
The NHTDAO will be guided by a Steering Committee, which includes:
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Co-chairs: Professor Muhammad Ali Pate, Coordinating Minister of Health and Social Welfare, and Mr. Olaniyi Yusuf, Chairman of the Nigerian Economic Summit Group.
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Alternate Co-chair: Dr. Iziaq Adekunle Salako, Minister of State for Health and Social Welfare.
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Other Members: Ms. Kachollom Daju, Mr. Idris Alubankudi Saliu, Dr. Muntaqa Umar-Sadiq, Dr. Abdu Mukhtar, Dr. Muyi Aina, Dr. Kelechi Ohiri, the Director of Health Planning, Research and Statistics, a representative from the National Information Technology Development Agency, one representative from each of the six geopolitical zones for State Commissioners of Health, and industry stakeholder Pharm Hamza Buhari.
President Tinubu anticipates that the NHTDAO will hasten Nigeria’s shift toward a secure, data-driven, and interoperable health system, ultimately enhancing health outcomes for all citizens in accordance with his administration’s Renewed Hope Agenda.
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Tragedy Strikes Again! Brother Of Late Oyo Governor Abiola Ajimobi Passes Away In London!.
The Ajimobi family is mourning the loss of Alhaji Teslim Ajimobi, the 67-year-old younger brother of the late former Oyo State governor, Abiola Ajimobi. According to BBC, Teslim Ajimobi passed away in London on Thursday, marking six years since his elder brother’s death in 2020. This loss follows a period of several recent family tragedies, including the death of one of the former governor’s daughters. As of the time of reporting, there has been no official statement from the family, and the cause of death remains undisclosed.....KINDLY READ THE FULL STORY HERE▶
Teslim Ajimobi’s life was defined by the following:
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Political Involvement: In 2017, he served as the Caretaker Chairman of the Ibadan South-East Local Government Area in Oyo State, where he was engaged in community affairs and grassroots administration.
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Business Career: He was an active businessman with interests both in Nigeria and internationally, holding leadership roles in several private companies, such as the London-based Teslis Global Services Ltd.
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Public Legacy: Associates, friends, and family members are reportedly saddened by his passing, remembering him for his engagement in business and public life, as well as his rapport with others.
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