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BREAKING: Nigerian Senate Approves Tinubu’s N1.15tn Loan Request

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The Nigerian Senate has approved the request of President Bola Tinubu to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.

This comes after the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.

According to the committee, the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.

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The expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).

READ ALSO:Senate Uncovers $300bn Unaccounted Crude Oil Sales

In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.

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Recall that President Tinubu had on November 4th requested the approval of the National Assembly for a fresh N1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.

The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.

 

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PDP Issues Certificate Of Expulsion To Wike, Fayose, Anyanwu, Others

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The Peoples Democratic Party (PDP) said it has issued certificate of expulsion from the party to the Minister of the Federal Capital Territory, Nyesom Wike, and other 10 members earlier expelled from the party.

The party National Chairman, Tanimu Turaki, disclosed this while speaking with newsmen after the PDP National Working Committee (NWC) meeting in Abuja on Tuesday.

The other members, according to him, include the embattled National Secretary, Sen. Samuel Anyanwu, the Legal Adviser, Kamarudeen Ajibade, former Governor of Ekiti State, Ayodele Fayose.

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They also included Sen. Mao Ohuabunwa, Austin Nwachukwu, Abraham Amah Nnanna, George Turna and Chief Dan Orbih, expelled during the party National convention in Lagos.

READ ALSO:BREAKING: Drama As Wike-backed PDP Expels Makinde, Mohammed, Dauda

Turaki said that the original copies of the certificate had been dispatched to the owners through a courier service to serve as proof that they were expelled from the PDP.

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“We have taken note of the fact that Nigerian law frowns on dual membership of political parties, and so we have sought to make it easy for them.

“Now that they are no longer members of our party, and now that the National Convention, which is the highest decision-making organ of our party, has expelled them, we have decided to issue them certificates of expulsion.

“So, when they go to register with other political parties in Nigeria, they will show these certificates as proof that they are no longer members of the PDP.

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“By that, those parties will not accuse them of trying to belong to more than one political party,” he said.

READ ALSO:JUST IN: PDP Axes Wike, Fayose, Anyanwu, Others For Anti-party Activities

He called on the Independent National Electoral Commission (INEC) and security agencies, including the Nigeria Police, the Department of State Services, and other government agencies, to take note.

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“Very soon, members of the society will be informed via proper disclaimers that any person henceforth who decides to do business with them, any or all of them, does so at his or her own risk.

“They are no longer members of the PDP. They have been expelled,” he added.

He added that the NWC also reviewed some of the cases filed against the party and lawsuits instituted by the party, particularly the one that related to the “unlawful and illegal” closure of the party’s national Secretariat, the Legacy House, and the Wadata Plaza.

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READ ALSO:Protest Rocks PDP National Secretariat As Wike-led Faction Takes Over

The brief we received from our lawyers is that we are on sound ground, and that very soon, the law will take its course,” he said.

Turaki said the NWC was prepared to be saddled with the responsibility of performing its functions as the leading opposition party in Nigeria.

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“We are going to provide a credible alternative to Nigerians. We are going to provide credible leadership to Nigerians by the special grace of God from 2027,” he said.

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Adebayo Adedamola Wins Osun PDP Governorship Primary

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Adebayo Olugbenga Adedamola, popularly known as FRYO, has emerged as the Peoples Democratic Party, PDP, candidate for the August 8, 2026 governorship election in Osun State.

The primary election took place in Osogbo on Tuesday amid heavy security presence.

Announcing the result, chairman of the primary election committee, Humphrey Abba, stated that Adebayo secured 919 votes out of 957 accredited ballots, giving him a clear victory in the contest.

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Explaining that there were 20 void votes following the withdrawal of one of the candidates, believed to be Governor Ademola Adeleke, Abba added, “The candidate that got the remaining votes is Adebayo Adedamola with 919 votes and he stands elected and returned.”

READ ALSO:Davido Reacts As Gov Adeleke Dumps PDP

DAILY POST reports that despite announcing his resignation from the party, Adeleke’s name appeared on the ballot paper for the PDP governorship primary.

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Party officials said the exercise was conducted in accordance with established guidelines, with accredited delegates participating in the voting process.

Adeleke announced his resignation in a letter dated November 4, 2025, and addressed to the PDP leadership at his ward.

On Monday, Osun PDP chairman, Sunday Bisi, had announced that the governorship primary slated for Tuesday, December 2, 2025, has been postponed due to leadership crisis at the national level.

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But a faction of the party went ahead with the exercise in Osogbo on Tuesday.

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Gov Adeleke Resigns From PDP

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Osun State Governor, Ademola Adeleke, has resigned from the Peoples Democratic Party (PDP) ahead of the 2026 gubernatorial primaries of the party.

Adeleke’s resignation letter, dated November 4, 2025, sighted by Tribune Online was addressed to the PDP ward chairman for Ward 2, Sagba Abogunde, Ede, Osun State.

According to the letter, the governor’s resignation was based on “the current crisis of the national leadership of the People’s Democratic Party (PDP).”

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READ ALSO:Osun APC, PDP In War Of Words After Adeleke, Tinubu’s Meeting

According to the letter, titled: “Resignation of my membership of the People’s Democratic Party (PDP)’ read, “Due to the current crisis of the national leadership of the People’s Democratic Party (PDP), I hereby resign my Membership of the People’s Democratic Party with immediate effect.

“I thank the People’s Democratic Party for the opportunities given to me for my elections as a Senator (Represented Osun West) and as Governor of Osun State under the People’s Democratic Party.”

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