Welcome to NowNowNaija — today’s budget numbers tell a deeper story about debt, power, and the hard choices shaping Nigeria’s future.

TOP STORY

President Bola Ahmed Tinubu presented the 2026 budget of N58.18 trillion, revealing that N15.52 trillion—over a quarter of the total—will go to debt servicing. This dwarfs allocations for many key sectors, while capital spending is set at N26.08 trillion and recurrent costs at N15.25 trillion, leaving a significant deficit and tight fiscal space.

This budget means heavy borrowing costs limit what the government can spend on everyday needs like education, health, and infrastructure. For you and your community, that means less money for services and development, as a big chunk goes to paying off debt. Yet, promises of improved security funding and economic reforms aim to stabilize and grow the economy. However, the large deficit and ongoing debt pressure highlight challenges ahead, with implications for taxes, inflation, and public services.

Source: Daily Trust
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Rates shown are as of 6:00 AM Lagos time.

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President Bola Tinubu warned state governors to respect the Supreme Court ruling guaranteeing financial autonomy to Nigeria’s 774 local government councils. Speaking at the APC National Executive Committee meeting, he declared readiness to issue an executive order if governors block the funds. Tinubu also reaffirmed commitment to security reforms, including state police, and criticized the proposed Central Gaming Bill.

This firm stance from President Tinubu means local governments may soon control their finances more independently, potentially improving service delivery in your community. If governors resist, an executive order could enforce these changes, impacting how local projects are funded and managed. Additionally, moves toward state police and security reforms aim to address rising instability, affecting your safety and daily life. Watching these developments will be key as they could reshape governance and security in states across Nigeria.

Source: This Day Live
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What else is happening:

The National Identity Management Commission (NIMC) has introduced an online Pre-Enrolment Portal for the National Identification Number (NIN) registration. Applicants in Nigeria and abroad can now submit biodata, schedule appointments, and upload documents online before biometric verification at enrolment centres.

This new portal means you can save time and avoid long queues at NIN centres by completing much of the process online in advance. Your data will be more secure and accurate, reducing errors and repeated visits. It also supports faster service nationwide, making it easier for Nigerians and those in the diaspora to register quickly and conveniently, aligning with broader efforts to digitize government services.

Source: Nigerian Communication
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President Bola Tinubu presented the 2026 budget proposal totaling N58.18 trillion, prioritizing security with a N5.41 trillion allocation to defence. The budget also sets aside N3.56 trillion for infrastructure, N3.52 trillion for education, and N2.48 trillion for health, aiming to stabilize the economy and improve national security.

This budget could affect how government resources are distributed across Nigeria, with a strong emphasis on national security and infrastructure development. For citizens, enhanced security funding may improve safety and attract investment, while increased spending on education and health promises better social services. However, the high fiscal deficit of N23.85 trillion signals that the government will borrow significantly, which may impact future economic stability and borrowing costs. Nigerians should watch closely how these allocations are implemented to see tangible benefits.

Source: This Day Live
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What else is happening:

The US Mission in Nigeria launched a Social Media Skit Contest Award Ceremony to celebrate and empower young Nigerian creatives, showcasing over 30 entries from across the country. The event highlighted how American innovation inspires Nigerian talents, culminating in five finalists presenting their work in Abuja.

This initiative opens new doors for Nigerian content creators by providing a platform to showcase their skills and gain recognition. It encourages young creatives to incorporate both Nigerian culture and global themes, enhancing the quality and reach of local digital storytelling. For fans of Nigerian skits, this means fresher, more diverse content as emerging talents gain support. Looking ahead, this partnership could lead to collaborative projects, expanding opportunities in film and social media entertainment.

Source: This Day Live
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The Social Feed:

Wilfred Ndidi has been officially appointed as the captain of Nigeria’s national men’s football team, the Super Eagles. He takes over following the retirements of former captain Ahmed Musa and vice-captain William Troost-Ekong. Ndidi will lead the team as they prepare for the Africa Cup of Nations (AFCON) starting in Morocco.

Ndidi’s elevation as captain means you can expect fresh leadership and renewed energy as the Super Eagles pursue success at AFCON. For fans and communities, his new role represents a unifying figure guiding the team through a pivotal tournament starting December 23. Ndidi’s commitment to team cohesion and respect for his predecessors shows a leadership style focused on solidarity and resilience, bringing hope for strong performances on the continental stage.

Source: Ripples Nigeria
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Sports Spotlight:

Quote of the Day

“A nation that borrows without reform only postpones the cost—until citizens are forced to pay it in services denied.”

— Ngozi Okonjo-Iweala