News
Why FG Chose N800/Dollar Exchange Rate For 2024 Budget – Minister

The Federal Government, on Thursday, said it settled for N800 to dollar exchange rate in the 2024 Appropriation Act after considering the average performance of the naira.
It said it avoided basing the foreign exchange benchmark in the 2024 budget on a spot rate, to avoid eventualities and uncertainties.
The Minister of Budget and National Planning, Atiku Bagudu, who spoke with State House correspondents explained that the FG had earlier chosen the projected exchange rate of N750 to the dollar in the 2024 budget which the National Assembly raised to N800 to the dollar,
Bagudu said, “For budgeting purposes, you don’t use the spot rate of anything. Oil prices can go to 120 today, maybe there is a shortage, or maybe there is a collision between two ships that will block a channel.
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“It would be foolish to use that as a reference price, I should take a period maybe six months to one year and say let me observe this average behaviour, so you don’t use spot prices. So even with the exchange rate, it is like that.”
He explained further, “Much as we are hoping that it would soon come below, but at the time you are doing the budget, you will take a view on average performance. And that’s what we took.
“We took an average performance of N750 on the executive side and we proposed it to the National Assembly.”
The minister also said that Tinubu regarded the National Assembly’s decision to raise the rate further considering his respect for institutions and democracy.
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“So, he respected democracy that even though it was higher than what he submitted, but the institution that says so has the authority to say so and even at the time they say 100 because it’s not an official rate it’s tidal because, with the deregulated market, you no longer have an official rate, it is much lower than even the way the markets are bidding,” the minister said.
The minister noted that the FG is positive that its current measures would soon yield a significant increase in the supply of foreign exchange in the economy.
Bagudu also spoke on the level of borrowing to fund the deficit in the 2024 budget, saying there is a significant difference between 2024 borrowing compared to last year’s.
“In 2023, the budget anticipated a borrowing of close to N14tn. This year’s budget is N9.1 trillion. So we think that is significant.
“Because it’s 2023 took us to about 6.11 per cent of our GDP as borrowing. This one is 3.8 per cent. So the quantum had decreased,” Bagudu added.
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The former Kebbi State Governor said the FG will operate strictly within the dictates of fiscal responsibility law in the new year, which provides for the Central Bank of Nigeria to lend to the government through its Ways and Means window, only 5 per cent of the total budget.
He explained, “We will not go outside the law and borrow from ways and means, what is outside the law. So the fiscal responsibility law says, that every year, the central bank can lend the government up to 5 per cent of its budget for the year.
“So if you go out of that, you’re going outside the lawful limit, and that’s what the minister of Finance and Coordinating Minister of the Economy was very clear we are not going to do. We are not going to resort to borrowing outside the law.
“And secondly, as much as possible, we will even borrow away from the central bank because sometimes it’s even cheaper to borrow. So, those are the two elements. So the quantum has decreased, then we will go by the book.”
News
Remain Apolitical – NAF Warns Personnel

The Nigerian Air Force (NAF) has called on all personnel not to involve themselves in any political activities in the discharge of their professional responsibilities.
Air Vice Marshal (AVM) Usman Abdullahi, the Air Officer Commanding, Special Operations Command, Bauchi, made the call during the 2025 annual 10-kilometer walk and jog exercise organised by the Nigerian Air Force.
He also called on the personnel not to involve themselves in activity that is inimical to the calling of the military profession.
“You must remain apolitical. Don’t involve yourselves in any political activities and do not involve yourselves in activity that is inimical to the calling of our military profession.
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“I urge you to remain loyal to the Federal Republic of Nigeria and the President and the Commander in-Chief of the Federal Republic of Nigeria,” he said.
Abdullahi, who emphasised that the NAF pays serious attention to physical fitness for all its personnel, said that the exercise was to increase their cohesion, keep their mental fitness as well as for them to be on the alert at all times.
He commended the Bauchi state government for their cooperation and synergy as well as the creation of an enabling environment.
Also speaking shortly after the 10-kilometer walk and jog, governor Mohammed said the participants’ outstanding performances were the result of discipline, consistency and determination to succeed.
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These qualities, he said, were central not only to physical fitness but also to succeed in every area of life, adding that they had demonstrated team work, endurance and commitment to the values that made the Nigerian Air Force a model institution.
Represented by his Deputy, Alh. Auwal Jatau, the governor, said the exercise was more than just a fitness exercise but a celebration of unity and shared purpose.
“Seeing officers comprising airmen, airwomen, sister security services, paramilitary agencies, and NYSC members come together in such a lively atmosphere reminds us that sports and fitness can be powerful tools for strengthening peace and solidarity.
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“Here in Bauchi State, we take pride in the harmonious relationship between the government, the Nigerian Air Force and all security agencies operating within the State.
“The Special Operations Command and other military and paramilitary formations have played a vital role in maintaining the relative peace and security that our people enjoy today,” he said.
Nothing less than 32 people received different prizes for their outstanding performances during the exercise which included Airmen, Airwomen, Nigeria Immigration Service, Customs Service and civilians among others.
News
Edo: Real Estate Firm Unveils Renowned Media Personality, Okosun, As Brand Ambassador

It was an atmosphere of excitement blended with professional elegance at the University of Benin on Friday as renowned media personality, philanthropist, and influential leader, Dr. Sunny Duke Okosun, was made brand ambassador of UNILODGE Group of Companies.
Speaking at the event, Founder and Managing Director of the UNILODGE Group of Companies, Mr. Goodnews Obayuwana, said the act was not just a partnership, but to forge an alliance.
“An alliance between solid foundations and far-reaching influence; between brick-and-mortar and the power of human connection,” he added.
He described the brand ambassador —Okosun —as not just a familiar face in the media space, but a kindred spirit man whose “work ethic, integrity, and profound impact on this state mirror the very values upon which UNILODGE was built.”
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“His accomplishments are not merely personal triumphs; they are testaments to his ability to mobilize, inspire, and get things done,” the CEO added.
In his acceptance speech, the brand ambassador —Okosun — expressed delight, said: “Thank you, Mr. Obayuwana, for those incredibly generous words, and for the immense trust you and the entire UNILODGE family have placed in me today,” Dr. Okosun commenced.
“When we first discussed this vision, I was struck not only by the robustness of the UNILODGE portfolio but by the authenticity of its mission. This is not just about selling properties; it is about curating homes, enabling legacies, and building communities,” he said.
News
Man Shares Journey Of Living As Female For 25 Years Before Transition

Tosin Odunlami, a Nigerian-born intersex advocate, has opened up about his journey of self-discovery, transition, and his ongoing fight to promote intersex visibility and inclusion in Nigeria.
In an interview released on Friday by The Podcast Network, Odunlami reflected on his childhood, his experience living 25 years as a female, and the challenges of navigating identity in a society that often misunderstands intersex persons.
Intersex is a term used to describe people who are born with physical or biological traits, such as chromosomes, hormones, or reproductive organs, that don’t fit the typical definitions of male or female bodies.
According to a landmark study by biologist Dr Anne Fausto-Sterling (2000) of Brown University, up to 1.7% of the global population is born with intersex traits.
However, later research by Dr Leonard Sax (2002) published in the Journal of Sex Research estimated a narrower range of about 0.018%, depending on which medical conditions are classified as intersex.
Despite these variations, both studies affirm that intersex variations are a natural part of human diversity, not disorders or abnormalities, a position also supported by the United Nations Free & Equal campaign (2019) and the World Health Organisation (WHO, 2022).
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Tosin began by clarifying common misconceptions about gender identity. “Intersex persons are not transgender. Neither are they gay or lesbian,” he said. “Intersex means being born with biological variations, it could be internal, chromosomal, or genital.”
“It’s a privilege for me to speak about my experience. I discovered that I’m an intersex person at age 25. Basically, I lived all my life for 25 years as a female, and it wasn’t eas,” he said.
When asked whether he is medically capable of reproduction, Tosin confirmed that he can reproduce as a man, “Yes, because I’ve done some examinations.”
Born and raised in Nigeria, Odunlami recounted growing up under societal pressure to conform to the gender assigned at birth.
“You have to behave in the female way, And if you’re not doing all of that, the society and the community start looking at you in a certain way.”
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He revealed that during puberty, he noticed bodily changes that made him question his identity, but fear and stigma kept him silent.
“I started seeing some changes in my body, and I was scared. I couldn’t talk to anyone because when you tell them this is what you’re seeing in your body, they decide to discriminate or tell you you’re taboo,” he said.
Odunlami shared how his mother discovered his condition and sought medical help. However, the doctors themselves were confused.
“The doctor did not even know who I am. They tried to confirm me to their ascribed gender and said they had to do surgery to cut off what they were seeing,” he recounted.
He described how his mother rejected the risky surgical option and instead turned to religious interventions.
“My mom took me to several churches; they gave me soaps and prayers, just to make me grow breasts,” he said, recalling years of internal struggle and isolation.
At university, he continued to live as a woman but in secrecy. “I lived with two females in the same room, and when we were dressing up, I shifted myself to the corner. I wore padded bras because I wanted to fit in,” he said.
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Odunlami’s transition came after a medical consultation confirmed that his hormones were predominantly male.
“The doctor said my hormones are more male hormones. That was when I told the doctor, ‘Okay, I think I’m going to come to the male gender,’” he explained.
Speaking on how people reacted to his transition, he said, “Some were surprised, some were supportive, and some are still anxious about it. But I’m always open to share with them.”
On his sexual orientation, Odunlami said he is attracted to females. “I’m attracted to women, emotionally, mentally, and physically,” he said, clarifying that being intersex does not define his sexuality.
Speaking about his church community, he revealed how he came out to his pastor and congregation: “On a Sunday, he said I should come out and you know, it’s also a form of advocacy — educating people, mothers, adults, youths on all of this.”
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He continued, “Although it was a shock to them, they were like, ‘No, Sister Esther?’ Because then I was ascribed a female gender, so my first name is Esther. They were saying, ‘What? Sister Esther? Are you a trans? Are you gay?’ They didn’t really understand the whole situation, even after I shared with them that this is me, I’m an intersex person.”
He added that although some members initially distanced themselves, others eventually accepted him.
“Some were like, ‘Don’t near my female daughter,’ and I was a children’s teacher, so I had to step back to see how they received the information. But later they were all open arms, they received me back, and I started teaching again.”
When asked whether being intersex makes one a member of the LGBTQIA+ community, Tosin clarified that intersex persons form part of the wider group while maintaining their distinct identity.
“The ‘I’ in the LGBTQIA, that’s intersex,” Tosin explained. “We can stand alone, and as well we cannot stand alone. We are part of the community because we work together in different ways, for programming, advocacy, and education. Sometimes, Intersex Nura even educates the LGBT community. So we are a community of one.”
Tosin, however, noted that being intersex does not automatically determine sexual orientation, “An intersex person does not necessarily identify as lesbian, gay, or bisexual,” they said. “All of that does not necessarily apply.”
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Speaking further, Tosin said there is a growing intersex community in Nigeria that meets regularly for support and advocacy.
“We have intersex persons in different states across Nigeria. We hold monthly check-ins and community meetings. On October 26, we’ll celebrate Intersex Awareness Day, a day to celebrate our growth, resilience, and visibility,” Tosin added.
They also highlighted ongoing collaborations between Nigerian intersex advocates and global organisations, “There is international support,” Tosin noted.
“The Executive Director of Intersex Nigeria, Obioma, is part of the Intersex Alliance Movement globally, working to advance advocacy and programming. We also receive funding and support from international organisations for our work here in Nigeria.”
Reflecting on faith and acceptance, he described how his church community ultimately responded positively. “I had this peace, that I am living my full self,” he said.
Now an active intersex advocate, Odunlami continues to champion inclusion and awareness through public speaking and advocacy efforts. “It’s not a disability,” he affirmed again. “I’m a normal person like every other person.”
(PUNCH)
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