2026 BUDGET SPEECH: "BUDGET OF CONSOLIDATION, RENEWED RESILIENCE AND SHARED PROSPERITY", PRESENTED BY PRES. TINUBU. (PHOTO). #PRESS RELEASE.

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 2026 BUDGET SPEECH "BUDGET OF CONSOLIDATION, RENEWED RESILIENCE AND SHARED PROSPERITY"   Presented by: His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR President, Federal Republic of Nigeria, At the Joint Session of the National Assembly, Abuja, Friday, 19 December 2025   PROTOCOLS o     Distinguished Senate President, o     Rt. Honourable Speaker and Honourable Members of the House of Representatives, o     Distinguished Senators and Honourable Members of the National Assembly, o     Fellow Nigerians, 1.            I am here today to fulfil an essential constitutional obligation by presenting the 2026 Appropriation Bill to this esteemed Joint Session of the National Assembly for your consideration.   2.            This budget represents a defining moment in our national journey of reform and transformation. Over the last two and a half years, my go...
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'OUR BUSINESSES ARE DYING',MOTOR PARTS DEALERS LAMENT DOLLAR SCARCITY.[PHOTO]..

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 ‘Our Businesses Are Dying,’ Motor Parts Dealers Lament Dollar Scarcity


People who own cars or run a transport business will attest to the persistent cost of maintaining their cars. The problem of dollar exchange and sourcing for the currency to carry out export activities by Nigerian motor parts importers is currently biting hard across the country.


Infact, most Nigerian motor parts importers are grappling to survive even in the Federal Capital Territories as some of the markets have lost their boom.


Motor parts importers have lost their credit worthiness before their foreign suppliers who formerly gave them goods on credit.


The prices of automobile engines and other motor parts have risen at an alarming rate as the naira has continued to lose its value.


The naira is trading at N410.89 per dollar at the Central Bank of Nigeria rate, while it is trading around N572 at the unofficial market, but the more serious challenge is the supply of the dollar.


The scarcity has led to a spike in prices of different commodities in the Nigerian market. Earlier in January 2021, a Toyota Highlander 2008 engine was N300,000, but it now sells around N550,000 to N600,000.


A Toyota Corolla S engine as of December was between N320,000 to N330,000 now sells for N380,000 and N400,000.

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