News
President Tinubu signs N28.78trn 2024 Budget into law
President Bola Ahmed Tinubu, on Monday, signed the 2024 Appropriation Bill into law in keeping with his avowed commitment to maintaining a timeous, predictable, and efficient budget cycle.
President Tinubu assented to the bill in his office at the Presidential Villa State House, on Monday, shortly after returning to Abuja from Lagos.
Speaking at the signing of the bill, the President assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored.
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He said, “Today the first holiday on the calendar. Thank you very much I must say. When I presented the budget on the November 29, 2023, I presented N27.5trn and left room and I called for expeditious treatment of the budget, the review, the passing, the debate and all that.
“Today we have a budget of N28.7trn with an increase of N1.2trn over the proposal that I submitted. I thank the National Assembly for this prompt review adjustment and auditing necessary. This is an evidence and a great testament to the excellent relationship between the executive and the legislature. We should keep it up.
“In my address then, I remarked that the budget is a budget of renewed hope. It is anchored on reducing the deficit and increasing capital expenditure particularly in our priority areas. The Approved 2024 budget that we just approved achieves both objectives. It contains a very good increase in the capital side, a reduction in recurrent expenditure and it brought down the deficit from 6.11% to 3.88%. That, to me, is an achievement.
“Then we can debate in the area of economic thinking. Whether capital expenditure and reduction in the current means what. It is subject of interpretation. It means a lot. It means where the hope is hanged in development and particularly human capital development.
“When you pay attention to education, health and road infrastructure you are resuscitating the economy and making sure that the ordinary people are carried along.
“Let me take one of it. While we take power and steel and other projects, one of the priority areas we just passed is the N100 billion provision for the feeding of school children. That is a stimulant that will encourage our school attendance and others.
I have been meeting with local governments at sub-national levels so that we can collaborate and jointly bring an all inclusive program that will help. Yes, I’m pleased with what you’ve done. With the judiciary and other areas.
“All other details will be mentioned in future.
“I cannot conclude my remark without saying that a budget is only as good at its implementation. We will implement this. I want to assure Nigerians that all the MDAs and our teams have been warned. That’s why we even take our time to separate economic planning from finance.
“MDAs must have regular report of the budgetary performance in the area that we put in place to help ordinary Nigerians.
“The goal is to promote efficiency, dedication, and accountability. If you can not do that, you may have to leave us to do the job on your behalf.
Signing the Appropriation Act today is a great honour because to me as a politician and head of state, there is no holiday.
“When I was campaigning for this job, I made a pledge that I will commit myself fully and I found team members particularly Wale Edun, Atiku Bagudu, the National Assembly leadership all of you.
“I know what today means to everybody and weeks before today when I brought the budget, it was like can we meet the first of January. Can we meet the end of December? All in question marks. You delivered sincerely.”
President Tinubu assured that all the institutional mechanisms shall be held to account in ensuring diligent implementation.
“All MDA’s have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such.
“The Minister of Finance and Coordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, I shall Chair periodic Economic Coordination Council meetings,” he said.
The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction, and social security.
The President emphasized that his commitment to enhance investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.
“Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from 165 billion naira to 342 billion naira,” the President said.
Some of the key estimates are capital expenditure, N10 trillion; recurrent expenditure, N8.8 trillion; debt service, N8.2 trillion, and statutory transfers, N1.7 trillion.
President of the Senate, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, were present at the signing. Other senior government officials present at the brief ceremony include: Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Chief of Staff to the President, Femi Gbajabiamila; Minister of Budget and Economic Planning, Senator Atiku Bagudu, and National Security Adviser, Nuhu Ribadu.
News
Nigeria Bans Honorary Degree Holders from Using ‘Dr’ Title
The Federal Government has officially banned recipients of honorary degrees from using the “Dr” title as a prefix to their names, in a move aimed at curbing the misuse and politicisation of academic honours.
The directive was announced on Wednesday by the Minister of Education, Tunji Alausa, following a Federal Executive Council (FEC) meeting held at the Presidential Villa in Abuja.
Speaking to State House correspondents, Alausa expressed concern over what he described as the growing abuse of honorary doctorate awards across the country.
“The recent trend we’ve seen with the award of honorary degrees has revealed a growing abuse and politicisation of this academic privilege,” he said.
“We’ve seen awards being used for political patronage, for financial gain, as well as the conferral of awards on serving public officials, which, as part of the ethics of honorary degree awards, should not happen.”
New Directive Takes Effect
Under the new policy, individuals conferred with honorary doctorate degrees will no longer be allowed to use “Dr” as a prefix in any official, academic, or professional setting.
Instead, recipients are required to clearly state the full honorary designation after their names—for example, John Doe, Honorary Doctor of Letters (D.Litt)—rather than adopting the “Dr” title.
The government clarified that only individuals who have earned doctoral degrees through academic study or are certified medical practitioners will retain the legal and professional right to use the “Dr” prefix.
Move to Restore Academic Integrity
The decision is part of broader efforts by the Federal Government to restore credibility and integrity to Nigeria’s education system, particularly in the awarding of honorary degrees.
Education stakeholders have long raised concerns over the proliferation of honorary doctorate awards, with some institutions accused of granting such honours without strict academic or ethical standards.
Observers say the new regulation is expected to discourage the commercialisation of honorary degrees and reinforce the distinction between earned academic qualifications and ceremonial recognitions.
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Abuja
Mercedes G63 Kills Six Cows in Abuja Highway Crash
A luxury Mercedes-Benz G-Class G63 AMG was involved in a late-night crash on a major highway in Abuja, killing six cows and sparking renewed concerns over road safety and enforcement of grazing laws in the Federal Capital Territory.
The incident occurred around 8 p.m. on Monday,
according to eyewitness accounts, when the high-speed SUV collided with a herd of cows that had reportedly strayed onto the roadway. A video circulating on social media shows the aftermath, with the white cows lying across the dark highway as traffic officials worked to manage the situation.
As of the time of filing this report, there were no confirmed injuries to the driver or any passengers in the vehicle. Unverified reports on social media suggested that the SUV sustained only minor damage despite the severity of the collision.
The accident has reignited debates over the continued presence of cattle on major roads in Abuja, despite the 2017 ban on open grazing introduced by the Federal Capital Territory Administration. The policy was designed to curb frequent clashes between herders and communities, as well as prevent traffic disruptions and accidents caused by roaming livestock.
Residents and road users have repeatedly raised concerns about the enforcement of the grazing ban, noting that cows are still often seen along highways and within urban areas of the capital. Monday night’s crash is the latest in a series of such incidents, highlighting ongoing gaps in regulation and compliance.
Authorities are yet to release an official statement on the crash or confirm whether any action will be taken regarding the presence of the cattle on the highway.
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Jobs
Job Vancancy: Moniepoint Job Vacancies in Abuja and North Central Nigeria
Leading Nigerian fintech company Moniepoint has announced six new job openings across Abuja and several states in the North Central region, expanding its workforce in compliance, technical operations, sales, and security management.
The vacancies cut across multiple departments, reflecting the company’s continued growth in agent banking, SME solutions, and digital financial infrastructure services.
Available Positions
Field Risk & Internal Control Officer (North Central)
- Team: Compliance
- Location: FCT, Nigeria
The role focuses on monitoring operational risks, enforcing internal control standards, and ensuring compliance across field operations in the region.
Apply Here
Hardware Engineer
- Team: Advanced Technical Operations
- Location: FCT, Nigeria
Successful candidates will handle hardware installation, maintenance, troubleshooting, and technical support for field operations.
Apply Here
Implementation Officer (North Central)
- Team: Moniebook Business Management Tools
- Locations: Benue, Plateau, FCT
This role involves onboarding merchants and ensuring smooth deployment of Moniepoint’s business tools across assigned regions.
Apply Here
Inbound Sales Officer (Abuja)
- Team: Moniebook Business Management Tools
- Location: FCT, Nigeria
The position focuses on handling inbound customer inquiries, converting leads, and supporting sales growth for Moniepoint business solutions.
Apply Here
Regional Lead, Corporate Security (North)
- Team: Moniepoint MFB
- Locations: FCT, Kano
The role oversees corporate security operations, risk prevention strategies, and protection of company assets across northern Nigeria.
Apply Here
Regional Lead, Field Risk & Internal Control (North)
- Team: Compliance
- Location: FCT, Nigeria
This leadership position is responsible for coordinating regional risk management teams and strengthening internal control systems.
Apply Here
The hiring drive comes as fintech companies in Nigeria continue to expand their physical and digital operations across underserved regions, particularly in agent banking and SME support services.
Moniepoint, one of the fastest-growing fintech firms in the country, has steadily increased recruitment in technical, compliance, and field operations roles over the past year.
With these openings, Moniepoint is strengthening its presence in Abuja and northern Nigeria while scaling its financial services infrastructure across the country.
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Business
Nigerians Slam Moniepoint CEO Over ‘Talent Quality’ Remarks Amid Hiring Debate
Comments by Tosin Eniolorunda, CEO of Moniepoint, have sparked a heated debate online after he questioned the quality of Nigeria’s talent pool while discussing his company’s hiring challenges.
Speaking at the The Platform Nigeria on May 1, Eniolorunda said the fintech firm had advertised over 500 vacancies since 2024 but struggled to find qualified local candidates. He revealed that by 2025, the company reversed its local-only hiring policy due to the shortage.
“I used to feel Nigerians are really bright… but we are still struggling to find Nigerians to fill those roles. They don’t meet global standards,” he said, attributing the gap to factors such as social media distractions, cybercrime, hookup culture, and weaknesses in the education system.
Backlash and Counterarguments
His remarks triggered swift backlash from Nigerians, particularly within the tech community, with many accusing local companies of failing to invest in talent development.
Critics argued that unlike global firms, Nigerian tech companies rarely offer structured, paid internship programs or training pipelines to groom young professionals. Some pointed to examples of international companies like Oracle Corporation, where internships and early talent programs serve as entry points into full-time roles.
Others shared personal experiences of being rejected by local firms despite strong resumes, while noting that Nigerian professionals continue to secure roles in global companies such as Amazon.
A recurring sentiment online was that many Nigerian companies demand “global-standard talent” but are unwilling to offer competitive compensation or career development opportunities.
Industry Perspective
Supporters of Eniolorunda’s stance, however, pointed to the realities of scaling a fast-growing fintech company in a competitive global market. They cited brain drain, limited specialized skills, and increasing demand for top-tier expertise as genuine challenges facing Nigerian startups.
Analysts say the controversy highlights a broader issue within Nigeria’s tech ecosystem balancing expectations between employers and job seekers, while addressing gaps in education, training, and remuneration.
The debate mirrors ongoing tensions around talent development, compensation, and hiring practices in Nigeria’s fast-evolving tech sector.
As companies expand and compete globally, the question of how to build, retain, and fairly reward talent is likely to remain a central issue.
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News
Outrage as Soldier Assaults Journalist Over Traffic Dispute in Lagos
A Nigerian soldier has allegedly assaulted a journalist, Fakoyejo Olalekan, during a traffic control operation in Lagos State, triggering widespread public condemnation after video footage of the incident surfaced online.
The clash occurred on May 2 near Pleasant Event Centre in Ikeja, where personnel of the Nigerian Army were reportedly directing heavy traffic.
According to eyewitness accounts, the altercation began after Fakoyejo remarked to passengers that a soldier’s handling of a motorcyclist had caused an unnecessary delay. The comment allegedly angered one of the soldiers, who ordered everyone out of the vehicle.
The situation escalated when the soldier reportedly slapped and shoved the journalist, and briefly reached for a piece of wood before bystanders intervened to prevent further escalation.
Video clips circulating on social media show at least two soldiers involved in the confrontation. During the incident, Fakoyejo’s phone screen was also seen shattered on the pavement. No serious injuries were reported.
The footage has since triggered widespread criticism online, with many users calling for accountability and questioning the conduct of military personnel during civilian traffic enforcement duties.
As of May 4, the Nigerian Army had yet to issue an official response despite being tagged in multiple public complaints and posts about the incident.
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