Nigeria government rejects off‑budget spending claims as business sector reports major updates

The Tinubu administration denied accusations that it spent more than ₦8 trillion outside the approved budget, with Finance Minister Taiwo Oyedele stating the government follows constitutional appropriation procedures. The Peoples Democratic Party criticised the government, labeling the conduct as reckless. In a separate law‑enforcement action, the National Drug Law Enforcement Agency arrested 67‑year‑old Nigerian‑British caregiver Mary Yetunde Barek for attempting to smuggle 13 kg of cocaine concealed in plantain peels at Lagos airport.

In the business sphere, Dangote Petroleum Refinery reduced the ex‑depot price of premium motor spirit by ₦50 per litre, bringing it to ₦1,075. The Abuja Electricity Distribution Company announced a planned power outage for maintenance in parts of the capital. FCMB Group shareholders approved a N23.08 billion dividend for the 2025 financial year. Visa projected global economic growth of 2.4 percent in 2026. The Nigerian Women in Information Technology called for greater inclusion in the digital economy. The World Bank launched a $1.25 billion partnership to boost investment and jobs. Dangote Cement cited high energy and gas costs for rising cement prices. The Federal Ministry of Marine and Blue Economy urged coordination to implement the national marine policy, while the government confirmed aquifer contamination from gas seepage in Rivers State and announced relief measures. The unification of the foreign‑exchange market was reported to save Nigeria roughly $16.8 billion annually.