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Nigeria’s Budget suffers Setback as Buhari rejects National assembly’s Peace deal

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There were indications on Sunday that the National Assembly’s peace moves with the executive over the 2016 budget crisis had flopped.

It was learnt that as part of the peace moves, the National Assembly had, on Saturday, reached out to the executive and asked President Muhammadu Buhari to sign the document and then send a supplementary budget to the lawmakers.

It was gathered that the President did not accept the suggestion against the backdrop that the distortions in the budget discovered in the document transmitted by the National Assembly were too many.

A minister, who confided in The PUNCH, said both arms of government had been discussing the issue, but the President had been advised by members of his cabinet not to sign the appropriation bill.

“The National Assembly has initiated some peace moves. The lawmakers have suggested that the budget should be signed by the President before he will send a supplementary budget to cover the omissions, but he had turned down the proposal,” a competent source told one of our correspondents on Sunday.

Also, a competent Presidency source told The PUNCH on condition of anonymity on Sunday that with the level of distortions noticed in the document returned to the President, there was no way he could have been advised to append his signature to the budget.

The source stated, “I can confirm to you that the President has been advised not to sign the budget as it is. The initial plan was for him to sign it before going to China and thereafter present a supplementary budget to the National Assembly.

“But as it is, with the level of distortions noticed, the President has been advised not to sign it at all.”

It was gathered that Buhari on Sunday afternoon met behind closed doors with Vice-President Yemi Osinbajo and the Minister of Budget and National Planning, Senator Udo Udoma, in continuation of his consultation on the budget.

The meeting was held inside the President’s official residence in the Presidential Villa, Abuja.

The meeting was held shortly before Buhari left Abuja for China on a one-week official visit.

It was learnt that the meeting was a follow-up to an earlier one held by the President with the leadership of the National Assembly.

Presidential spokesmen, Mr. Femi Adesina and Garba Shehu, were not available for comments on Sunday as they were on the President’s entourage to China.

Investigations by our correspondents at the National Assembly showed that the majority of the 109 senators and the 360 members of the House of Representatives had no knowledge of the details of the 2016 budget before they passed the document on March 23.

It was learnt on Sunday that the lawmakers placed too much confidence on the judgment of the Joint National Assembly Committee on Appropriation, chaired by Senator Danjuma Goje and Mr. Abdulmumin Jibrin, to work out the details that they reportedly paid less attention to the work of the committee.

One senior legislative official, who followed the budget through, said, “Let the truth be told; the budget was passed without any information on the breakdown.

“We all trusted the committee that due to the pressure to pass the budget, the members should work out the details while we passed the highlights.

“The news of inserting projects or removing some came as a surprise to many us.”

It was learnt that in the case of the House of Representatives in particular, only the Chairman, Jibrin, and a few members of the Committee on Appropriation sat to work on the details of the budget without the knowledge of other members.

“Although members of the committee were asked to stay behind during the Easter break for the purpose of working on the details, they were not called to meetings to work on the details.

“What we heard was that some consultants were hired by the chairman to work on the details, while he pleaded with members for understanding because of the exigencies of time,” another legislative official disclosed to The PUNCH.

As the development unfolded, opposition party lawmakers, in a surprise move, backed Buhari’s objections to the budget, saying the President was right.

Speaking on their behalf, the Minority Leader of the House and member of the main opposition Peoples Democratic Party, Mr. Leo Ogor, told The PUNCH that Buhari was free to reject the budget if it did not fall in line with his economic agenda.

Citing the alleged removal of the Lagos-Calabar rail line project from the budget, Ogor noted that the President must have made provision for it because he believed it would be a major boost to his economic agenda.

Ogor stated that the Committees on Transport and all other committees supervising agencies whose projects were removed would have to explain whether the removal was done with their knowledge.

However, Jibrin took to his Twitter handle to respond to allegations levelled against the National Assembly and specifically the Committee on Appropriation.

In a series of tweets, he addressed some of the issues one after another.

In the tweets, he said, “The Lagos-Calabar rail (line project) was never included. How could NASS have removed what was not there? But the nation is being misled.

“This is unfortunate as it is quite clear to all and sundry that #Budget2016 and all its headaches and controversies didn’t emanate from NASS.

“We will come up with a comprehensive position especially with respect to our observation of the budget and what we did to make it better.”

He added, “What NASS did with the N54bn? We added N39.7bn to the Lagos-Kano Rail project. This will help complete the project once and for all.

“That N50bn be set aside as special bursary for students of tertiary institutions.”

When contacted, the Senate Leader, Ali Ndume, on Sunday, said he was not aware of any meeting between the leadership of the National Assembly and the Presidency over the 2016 budget.

Ndume, who spoke in a telephone interview with one of our correspondents in Abuja, said, “Our concern as Nigerians should be how to collectively move the nation forward instead of writing on speculations that could heat up the polity.”

Attempts to get the Director, Information, Ministry of Budget and Planning, Mr Charles Dafe, to comment on steps being taken to resolve the grey areas in the budget were not successful.

The Senate on Sunday also denied allegations of padding levelled against the appropriation committees of the National Assembly.

Senate spokesman, Senator Abdullahi Sabi, said in Abuja that the Constitution of Nigeria did not make the legislature a rubber stamp.

He said, “I can say authoritatively that we did not pad the budget at all. I reject that in its entirety. We appropriated in line with what we believe the issues are and we did so in consultation with the Ministries, Departments and Agencies.”

He added that the National Assembly, in reality, helped the executive to pass a badly written budget, saying having done its job within the law, the lawmakers expected the executive to follow the constitutional process.

 

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From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant

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*From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant*

What started as a single company with a bold vision has grown into one of Nigeria’s most dynamic business conglomerates. Founded by the visionary Mujahid Turajo, Til Interiors began as a modest interior design company, bringing elegance and functionality to residential and commercial spaces.

Today, that vision has expanded far beyond design—Til Interiors has evolved into Til Group, a powerful conglomerate spanning food production, construction, global trade, and beyond.
With Til Foods, Til Interiors, Til Construction, and Til Global under its umbrella, Til Group is now a driving force in Nigeria’s economic landscape, fostering job creation, innovation, and industrial growth.

Til Interiors: The Foundation of an Empire
The journey of Til Group began with Til Interiors, a company that set out to revolutionise interior design and space transformation in Nigeria. Through innovative designs, premium materials, and expert craftsmanship, Til Interiors quickly gained a reputation for creating luxurious, functional, and aesthetically superior spaces for homes, offices, and commercial properties.

“Til Interiors was our foundation—it taught us the importance of detail, innovation, and excellence. Those same principles now define everything we do across all sectors,” says Mujahid Turajo.

Til Foods: Feeding Nations, Empowering Farmers
As Til Interiors flourished, Mujahid identified a critical need for self-sufficiency in food production and distribution, leading to the creation of Til Foods, which has now grown into a leader in Nigeria’s agribusiness and food industry.

Til Foods is dedicated to sustainable agriculture, food processing, and distribution, ensuring that Nigerians have access to high-quality, locally produced food products. The company oversees the entire value chain, from farming and production to retail and exports.
Within Til Foods, two major brands stand out:
Tomatil – A multi-billion naira state-of-the-art tomato processing factory in Kano, transforming fresh tomatoes into premium tomato paste and products, reducing Nigeria’s reliance on imports.

Til Grills & Restaurant – A high-end restaurant located in Ahmadu Bello Way, Kado, offering a unique dining experience that blends traditional flavours with modern culinary expertise.

“Til Foods is not just a business—it’s a mission to achieve food security, support local farmers, and put Nigeria at the forefront of global agribusiness,” says Mujahid.
Til Construction: Building the Future, One Structure at a Time
Recognising the urgent need for quality infrastructure and housing solutions in Nigeria, Til Construction was established to provide innovative, durable, and sustainable building solutions.

Today, it stands as a major player in real estate development, civil engineering, and large-scale construction projects.

One of Til Construction’s flagship projects is Concord, a residential development located in Life Camp, Abuja. Designed to redefine modern living, Concord features premium residential blocks that blend contemporary architecture with luxury, comfort, and sustainability. The project is set to transform Abuja’s skyline, offering state-of-the-art amenities, top-tier security, and elegant living spaces tailored for families and professionals alike.
“We are not just building structures; we are creating communities where people can thrive. Concord is a testament to our commitment to quality and innovation in Nigeria’s real estate sector,” notes Mujahid.

Til Global: Connecting Nigeria to the World
To support the group’s expansion into international markets and cross-border trade, Til Global was established as the conglomerate’s trade and logistics arm. This division ensures that African goods, resources, and services reach the world stage efficiently and competitively, fostering stronger trade relationships and expanding market access for Nigerian products.

A Legacy of Growth, Excellence, and Impact
From a single interior design company to a multisector empire, Til Group’s journey is a testament to strategic vision, resilience, and a relentless pursuit of excellence. Under Mujahid’s leadership, the company continues to expand, innovate, and set new benchmarks in food production, design, construction, and global trade.
“Our story is about growth, impact, and transformation. We started with a passion for design, and today, we are shaping industries and changing lives across multiple sectors,” Mujahid affirms.
As Til Group enters its next phase of expansion, the company remains committed to its core values of innovation, sustainability, and economic empowerment, ensuring that its legacy continues for generations to come.

*About Til Group*
Til Group is a diversified Nigerian conglomerate with subsidiaries in food production (Til Foods), interior design (Til Interiors), construction (Til Construction), and global trade (Til Global). The group is dedicated to driving industrial and economic growth through innovation, sustainability, and excellence.

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

 

 

 

Transcorp Power Plc (NGX: TRANSPOWER), one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited results for the first quarter ended March 31, 2025.

 

Key Highlights:

 

  • Robust Revenue Growth

 

o    An impressive 55% year-on-year increase in revenue, rising from 67.9 billion to 105.4 billion.

 

o    This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country. 

 

  • Significant Growth in Profit Before Tax

 

o    Profit before tax grew by 50%, from 28.8 billion in Q1, 2024 to 43.3 billion in Q1, 2025.

 

o    This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

 

 

MD/CEO of Transcorp Power Plc, Peter Ikenga, comments:

 

“We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

The Governor of Ogun State, Prince Dapo Abiodun, CON, has congratulated real‑estate titan Aare Adetola EmmanuelKing, Chairman and CEO of ADRON Homes & Properties, on his 50th birthday.

“Reaching fifty in good health and remarkable professional standing is a testament to God’s grace,” the governor said.

Governor Abiodun lauded Aare Adetola’s “exceptional journey and unwavering commitment to excellence,” noting that ADRON Homes has expanded under his leadership from modest beginnings to a leading national developer that has broadened access to home-ownership for countless Nigerians.

“As governor of your home state, I am proud of your accomplishments,” Governor Abiodun added.

The Governor highlighted Aare Adetola’s deep‑rooted investment in people and the local economy, describing it as a reflection of faith in Nigeria’s limitless potential. He credited the celebrant’s “strategic foresight and community‑driven initiatives” with lifting the country’s real‑estate sector to new heights.

On behalf of his family and the people of Ogun State, Governor Abiodun wished EmmanuelKing continued health, wisdom, and impact, extending heartfelt congratulations to his family, friends, and associates on this golden jubilee milestone.

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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