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2026 budget twist: MDAs inject N3.5tn new projects despite FG freeze

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There are at least N3.50tn new projects in the proposed 2026 budget, according to an analysis by The PUNCH.

This is despite earlier budget preparation guidelines that directed Ministries, Departments, and Agencies to carry over 70 per cent of their 2025 capital allocation into 2026 and avoid introducing new capital projects.

Figures collated from the 2026 Appropriation Bill show that new project entries amount to N844.49bn across MDAs, while the total rises to N3.50tn when Service Wide Votes are included.

Against the proposed capital budget of N23.21tn for 2026, the combined new project provision of N3.50tn represents 15.09 per cent of total capital expenditure.

The Service-Wide Votes component within the new project portfolio totals N2.66tn, reflecting the concentration of the largest single allocations outside conventional ministerial capital lines.

Earlier in December 2025, The PUNCH reported that the Federal Government ordered ministries, departments, and agencies to carry over 70 per cent of their 2025 capital budget into the 2026 fiscal year as the administration moves to prioritise the completion of existing projects and contain spending pressures in the face of weak revenues.

This directive is contained in the 2026 Abridged Budget Call Circular issued by the Federal Ministry of Budget and Economic Planning and circulated to all ministers, service chiefs, heads of agencies, and top government officials in Abuja.

According to the circular, “MDAs are to upload 70 per cent of their 2025 FGN Budget to continue in FY2026. All such rollover and uploads MUST be in line with the immediate needs of the country as well as the government’s development priorities that align with the policy direction of the new administration, which hinges on National Security, the Economy, Education, Health, Agriculture, Infrastructure, Power & Energy, as well as social safety nets, women & youth empowerment.”

It stated that ministries and agencies must continue with the allocations already approved in the 2025 budget rather than seeking fresh projects. The circular said all expenditure would be properly scrutinised to allow only essential spending and to ensure value for money

However, The PUNCH observed that no fewer than 82 MDAs have at least one fresh capital or programme item included in the budget.

Across these MDAs, the proposed budget contains over 400 new project lines, ranging from large multibillion-naira infrastructure and health investments to smaller constituency-level interventions such as boreholes, training schemes, and equipment supply.

Also, the review of the Service Wide Votes, with 18 new projects in the 2026 appropriation bill, shows that a significant share of the new project portfolio is tied to financing programmes, security-related provisions, liabilities, and central initiatives.

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The largest single line item is the provision for 2024 outstanding contractors’ liabilities put at N1.70tn. This allocation alone accounts for about 48.55 per cent of the N3.50tn total new projects, including Service Wide Votes.

Also, the bill includes three N100bn provisions under Service Wide Votes for the Nigeria Development Finance Corporation, the Economic Transformation Finance Programme, and the Nigeria Growth Investment Fund, bringing the total for these three funding lines to N300bn.

The Service Wide Votes entries also include capitalisation of INFRACO of N20bn, a DSS special operations fund of N30bn, and N110.31bn for the Nigerian Air Force to meet outstanding obligations on six T-129 ATAK helicopters and three Mi-35 helicopters. Another large entry is presidential air fleet logistics and management, including operation of the National Forest Guard, put at N283.85bn.

There is also a recurrent related take-off grant line for new MDAs at N41.12bn and a capital take-off grant line for 12 new MDAs, most in health and education, at N19.50bn, alongside other service-wide provisions such as pension increases due to consequential adjustment and payment of gratuity to civil servants.

Within the MDA level items, the five MDAs with the highest value of new projects, based on the figures provided, are the Budget Office of the Federation, the Federal Ministry of Transport headquarters, the National Library of Nigeria, the National Blood Service Commission, and the Sokoto Rima River Basin Development Authority.

The Budget Office of the Federation has the largest MDA level new project provision at N375bn for a multilateral or bilateral tied loan line for the Power Sector Recovery Operation, additional financing. This single item is larger than the combined new project allocations of most other MDAs listed.

As a share of the N844.49bn MDA total, the Budget Office provision accounts for about 44.41 per cent. As a share of the total new projects, including Service Wide Votes, it accounts for about 10.71 per cent.

The Federal Ministry of Transport headquarters has N210.53bn in new projects, made up of N68.50bn for consultancy services for the Lekki Ijebu Ode Ore Kajola railway and coastal railway, Badagry Apapa Tin Can, and N142.03bn for the construction of six bus terminals and transportation facilities in the six geopolitical zones under national public transportation.

The ministry’s two entries together represent about 24.93 per cent of the N844.49bn MDA new project total and about 6.01 per cent of the N3.50tn total, including Service Wide Votes.

The National Library of Nigeria has a new project provision of N24bn for structural renovation and space upgrade of the National Library of Nigeria across the six geopolitical zones. This is the third largest MDA new project amount in the list and accounts for about 2.84 per cent of the total MDA new projects.

The National Blood Service Commission has N15bn in new projects for the construction and equipping of a national blood service centre and strategic national blood reserve in Abuja, valued at N10bn, and the reconstruction or rehabilitation of NBSC state offices valued at N5bn. The combined total represents about 1.78 per cent of the MDA new project total.

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The Sokoto Rima River Basin Development Authority has N9.14bn in new projects. These include construction of solar mini grids in selected locations in the catchment area at N2bn, construction of all in one solar street lights as security lighting points at N1bn, construction of rural roads to selected rural communities at N3bn, and supply of water pumps for irrigation to Isa and Sabon Birni federal constituency at N140m.

Others include the supply of 3 inch solar powered water pumping machines to farmers in Kebbi State at N1bn, provision of small town water supply system with reticulation at N1bn, and provision of empowerment materials to support the livelihood of youths at N1bn. This portfolio accounts for about 1.08 per cent of the total MDA new projects.

Beyond the top five, the next tier of MDAs by size includes health and social sector institutions clustered around N5bn to N6.22bn per entity, as well as several teaching hospitals and medical centres.

The PUNCH further observed that N5.85bn in new projects is for vehicle purchases, led by N1.5bn for vehicles at FUT Iyin Ekiti, N600m at FUADSI, and N500m at JUTH.

Furnishing and office equipment account for N2.93bn, driven by N1.18bn for two medical complexes at NAUTH Nnewi, N435m at the Air Power Centre of Excellence, and N250m for a Pharmacy Council zonal office. Renovation and refurbishment total N29.88bn, dominated by the N24bn national library upgrade and N5bn for blood service offices.

Residential and staff accommodation projects reach N25.29bn, anchored by N16.48bn for Defence Headquarters facilities and N7bn for DSS housing.

The PUNCH further observed that this was not the first time the Federal Government had restricted the addition of new projects into the national budget.

In December 2024, The PUNCH reported that the Federal Government directed all Ministries, Departments, and Agencies to exclude new projects from their budget submissions for 2025 unless they can be linked to the completion of ongoing initiatives, according to the 2024 Federal Government Budget Call Circular.

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The 2024 Budget Call Circular clearly states that no new projects will be admitted into the 2025 capital budget unless MDAs can demonstrate that sufficient resources have been allocated to complete ongoing projects.

The document read, “Again, the thrust of the FGN’s capital expenditure programme in 2025 will be the completion of as many cardinal ongoing projects as possible, rather than starting new projects. Thus, MDAs are hereby advised that new projects will not be admitted into the capital budget for 2025 unless adequate provision has been made for the completion/work programme of all ongoing projects.”

Also, MDAs have been instructed to carefully scrutinise and justify their proposed projects and programmes, ensuring that these align with the country’s immediate needs and the government’s key development priorities.

These priorities, as set out in the circular, include national security, economy, education, health, agriculture, infrastructure, power and energy, as well as social safety nets, with a focus on women and youth empowerment.

However, it appears that MDAs often flout this directive without any scrutiny from the Budget Office of the Federation or the National Assembly.

The National President of the Nigerian Economic Society, Professor Adeola Adenikinju, earlier argued that the late budget presentation prevents the National Assembly from carrying out proper scrutiny.

Adenikinju said, “The 2026 budget should have been in the National Assembly for consultation so that we can keep to this January 1st thing. That makes our fiscal system predictable.”

The economist said the rush to approve budgets “does not allow for proper analysis” and prevents ministries and departments from fully defending their plans. He warned that the practice was creating a disorganised fiscal environment.

A development economist and Chief Executive of CSA Advisory, Dr Aliyu Ilias, told The PUNCH that the Federal Government has “fiscal discipline problems.”

He insisted that government performance on fiscal and budget discipline “for now has not done well” and suggested that the lapses were deliberate. “I am sure I want to say that it is intentional because you could have seen that this is becoming an error,” he said.

Ilias said the problem also rested with the National Assembly, which he accused of failing in its oversight duty.

He said the legislature was tolerating inefficiencies, adding that “The National Assembly is also failing, failing in the sense that it is their own responsibility to make sure that those things do not really fly.”

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Reps order IG to produce fake, PFIPC agency DG Adeyemi within 48 hours

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The House of Representatives Committee investigating the operations of the controversial Presidential Foreign Investment Promotion Council has directed the Inspector-General of Police, Olatunji Disu, to produce the self-acclaimed Director-General of the organisation, Adeyemi Adeniyi, before it on Wednesday.

The directive was issued on Monday during the resumed investigative hearing at the National Assembly Complex, Abuja.

Representing the IG, Assistant Commissioner of Police, Bashir Abdullahi, appeared before the committee and was instructed to ensure Adeyemi’s appearance by noon on Wednesday to assist lawmakers in their ongoing investigation into the activities of the organisation.

The committee is probing the circumstances under which the PFIPC, despite not being legally established, allegedly secured office accommodation in Phase III of the Federal Secretariat Complex in Abuja and received a budgetary allocation of ₦1.32bn in the 2026 Appropriation Act.

The directive followed the Nigeria Police Force’s confirmation of key aspects of its criminal investigation, including petitions from the Office of the Chief of Staff to the President alleging that Adeyemi fraudulently presented himself as the Director-General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.

The Committee Chairman, Yusuf Gagdi, said Adeyemi’s appearance had become imperative given the seriousness of the allegations and the institutions implicated in the matter.

“This committee clearly needs the suspected DG to appear before this committee. People’s names are involved. People’s integrity are involved. Institutional names are involved. Institutional integrity is involved.

“It is not an option now. We will need him here to confirm some documents to us in such a way that will not undermine our investigation to enable us to submit our report on time,” Gagdi said.

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The committee subsequently directed its clerk to formally communicate its resolution to the Inspector-General of Police.

“The committee hereby resolves that the Inspector-General of Police of the Federal Republic of Nigeria do kindly present Mr Adeyemi on Wednesday by 12 noon. That is the ruling of the committee,” Gagdi declared.

Earlier, ACP Abdullahi informed lawmakers that although investigations were ongoing, the police had already filed an eight-count charge against Adeyemi before the Federal High Court.

“The Nigerian Police Force investigated part of this case late last year and filed eight-count charges before a Federal High Court. The case is ongoing,” he said.

He disclosed that the suspect had been arrested and arraigned, but cautioned against making public disclosures that could prejudice the ongoing investigation or judicial proceedings.

“We don’t want to say things that are under investigation. It is definitely going to prejudice the ongoing investigation and make people have opinions that may prejudge the outcome of an investigation or judicial decision,” Abdullahi stated.

Despite the police’s reservations, the committee sought confirmation of documentary evidence already in its possession.

The police confirmed that on October 17, 2025, the Office of the Chief of Staff to the President petitioned security agencies over allegations against Adeyemi, prompting investigations that culminated in criminal charges bordering on conspiracy and fraud.

Investigators also confirmed receiving another petition alleging that Adeyemi falsely presented himself as the Director-General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.

According to the police, the petition alleged that Adeyemi used the purported office to obtain accommodation within the Federal Secretariat, sought approval to recruit about 300 personnel, attempted to secure a $1.3 billion allocation in the 2026 Appropriation Act for the non-existent agency, and planned to organise a World Investment Summit under the platform of the purported council.

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One of the highlights of the hearing came when the committee compared signatures on documents allegedly issued from the Office of the Chief of Staff to the President with signatures on authentic official correspondence obtained by the police.

When asked whether the signatures matched, the police witness responded unequivocally,”They are not the same.”

The committee said the discrepancy reinforced concerns that official State House documents may have been forged.

Gagdi further asked, “So, it is not only a letter that was suspected to be forged? We are dealing with documents that include what is said to be a forged Act of the National Assembly in an attempt to establish a fake agency,” he added.

Gagdi disclosed that investigators had identified about 29 allegedly forged documents, including purported approvals from the State House, the Office of the Head of the Civil Service of the Federation, the Office of the Secretary to the Government of the Federation, the Ministry of Finance and several other government institutions.

According to him, representatives of many of the affected agencies had already appeared before the committee and disowned the documents attributed to their offices.

Gagdi, however, stressed that the committee had deliberately avoided compelling the police to disclose information that could compromise ongoing criminal investigations.

“We are avoiding a situation whereby they will be pushed to make statements that will undermine their ongoing investigation,” he added.

He assured that the House investigation would continue independently and that its final report could recommend further action by relevant security agencies.

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Forged state house letter used to create fake PFIPC agency, Acct-General reveals

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The House of Representatives’ investigation into the operations of the controversial Presidential Foreign Investment Promotion Council took a dramatic turn on Monday after the Accountant-General of the Federation, Shamseldeen Ogunjimi, revealed that a forged State House letter was used to obtain official government recognition for the ‘fake’ agency.

Appearing before the House Ad Hoc Committee probing the circumstances surrounding the establishment and operations of the council, Ogunjimi disclosed that the Office of the Accountant-General acted on what appeared to be an authentic correspondence from the presidency requesting the creation of an administrative code for the PIFPC, only for investigations to later establish that the letter did not originate from the State House.

The revelation is the latest in a series of disclosures before the committee, which is investigating how a non-existent presidential agency allegedly secured office accommodation in the Federal Secretariat, sought budgetary allocations, recruited personnel and obtained official government recognition through what investigators believe were forged documents.

Presenting his report, Ogunjimi said the Office of the Accountant-General first interacted with the purported council in November 2024.

According to him, “a letter dated November 7, 2024, bearing a State House reference number, requested the creation of an administrative code for the Presidential Economic Advisory Council to facilitate budgeting, accounting and financial reporting.”

He explained that, in line with established procedures, “the Office of the Accountant-General processed the request, created the administrative code and communicated its approval to the State House,” with a copy sent to the Office of the Auditor-General for the Federation.

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Following that approval, the office received additional requests from the purported council, including applications for self-accounting status, deployment of personnel, opening of Treasury Single Account and domiciliary accounts, as well as funding approvals.

Ogunjimi, however, stressed that although some administrative processes were carried out, no public funds were ever released to the council.

“It is important to note that no funds were released under salaries, overhead, capital, or any form of intervention or special allocation to the council,” Ogunjimi told the committee.

He further disclosed that while the council requested an establishment grant of ₦27.4bn, the application was rejected because there was no budgetary provision for such expenditure.

The Accountant-General also explained that although the Central Bank of Nigeria opened two domiciliary accounts for the organisation to receive inflows, the accounts never became operational because the council failed to satisfy the regulatory conditions required for their activation.

Lawmakers expressed concern over how the purported agency was able to navigate several layers of government bureaucracy without raising suspicion.

Responding, Ogunjimi made what committee members described as one of the most significant revelations of the hearing.

“The letter that was received by the Treasury was respectfully addressed as coming from the State House. That letter was never issued by the State House”, he said

The disclosure prompted members of the committee to conclude that a “hijacked” State House letter had allegedly been used to mislead government institutions into processing official requests for an agency that had no legal existence.

The committee also questioned how civil servants originally posted to the Office of the Chief Economic Adviser to the President eventually became attached to the purported council without the knowledge of the Office of the Accountant-General.

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Ogunjimi explained that two officers deployed to the Office of the Chief Economic Adviser in 2010 and 2013 remained in the office after it was allegedly taken over by the new council, but no formal communication was sent to the treasury notifying it of any change.

“It was never assumed or written to us that those two officers were being taken over. The staff also never reported to the office to say that another council had taken over the office and the name had changed. As far as I was concerned, we were dealing with a new agency, not the Office of the Chief Economic Adviser,” he said.

He further disclosed that when the purported council later requested the deployment of five additional officers, the treasury approved only three after determining that the organisation’s size did not justify the number requested.

“It was when all this matter came to light that I got to know that two of our staff were actually working or being absorbed by the agency. We never knew. We believed, based on the records available to us, that those officers were still with the Office of the Chief Economic Adviser,” he added.

The ongoing House investigation centres on allegations that forged presidential approvals, counterfeit State House correspondence, fake Acts of the National Assembly and other falsified government documents were used to create and operate the purported Presidential Foreign Investment Promotion Council and the Presidential Economic Advisory Council.

The committee has already heard evidence from the Nigeria Police Force, which confirmed that criminal charges bordering on conspiracy and fraud have been filed against the prime suspect, Adeyemi Adeniyi, at the Federal High Court.

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At its sitting on Monday, the committee also directed the Inspector-General of Police to produce Adeyemi before lawmakers by noon on Wednesday to answer questions relating to the alleged forgery of official government documents and the operations of the purported presidential agency.

The committee is expected to conclude its investigation with recommendations on possible administrative, legislative and criminal actions against those found culpable.

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See full list of African countries that do not need proof of funds for UK’s student visa

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The United Kingdom on Monday updated its financial requirements for applicants seeking Student and Child Student visas, retaining stricter evidence rules while exempting nationals of only three African countries from submitting proof of funds at the point of application.

The updated guidance, published by the UK government on its website, listed Botswana, Mauritius and Tunisia as the only African countries whose nationals will not be required to provide financial evidence upfront unless requested during the visa decision-making process.

Other countries on the exemption list include Australia, Canada, China, Japan, New Zealand, Singapore, the United States, France, Germany, Italy, Spain, the United Arab Emirates and Qatar, among others.

Despite the exemption, the UK clarified that applicants from the listed countries must still meet all financial requirements and could be asked to provide evidence during the application process.

The guidance stated, “You must meet the financial requirements for this route when you apply; however, you may not need to submit evidence upfront as part of your application. In these circumstances, the decision maker may still request the evidence from you during the application process to prove you meet the financial requirements.”

The development means applicants from major African source countries for UK education, including Nigeria, Ghana, Kenya, South Africa, Egypt and others not listed, will continue to submit financial documents as part of their visa applications.

Under the revised rules, applicants for a Student visa must demonstrate they have sufficient funds to cover tuition fees as stated on their Confirmation of Acceptance for Studies and living expenses.

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Students studying outside London are required to show they have £1,171 for each month of their course, up to a maximum of nine months, while those studying in London must show £1,529 per month for the same period.

Applicants travelling with dependants must also show additional funds. Those studying outside London must have £680 per month for each dependant, while applicants studying in London must show £845 monthly for each dependant, both for up to nine months.

For Child Student visa applicants, the required maintenance funds vary depending on their living arrangements, including boarding school accommodation, foster care, residence with parents or legal guardians, or independent living for eligible 16 and 17-year-olds.

The UK government also outlined acceptable sources of funds, including government-backed student loans, official financial sponsorship, personal savings and money belonging to parents or eligible partners.

However, it said applicants cannot rely on overdrafts, cryptocurrency holdings, stocks and shares, pensions or funds kept in unregulated financial institutions.

The guidance further requires applicants using personal or family funds to show that the required amount has been held for at least 28 consecutive days before the application, with financial evidence dated no more than 31 days before submission.

The UK also maintained exemptions from providing financial evidence for certain categories of applicants, including those applying to extend their stay after spending at least 12 months in the country on a valid visa, Student Union Sabbatical Officers, doctors and dentists in training, and applicants whose nationality qualifies for the reduced documentary requirement.

The latest update comes as the UK continues to tighten oversight of its international student visa system while maintaining financial eligibility requirements for prospective students seeking to study in the country.

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