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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OIL PRODUCTION NOW 1.7 MILLION BARRELS DAILY, SAYS FG.(PHOTO).

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Oil production now 1.7 million barrels daily, says FG

The Federal Government, on Friday, announced that Nigeria’s oil production has increased to about 1.7 million barrels per day, up from the 1.1mbpd recorded in August 2023.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this in a session with journalists at his office in Abuja on Friday.

He said, “We have a sole agenda and it is to increase crude oil production. Once you increase production there will be more revenue for Nigeria and that is the recipe to virtually all the problems we have in this country.
You know that Nigeria is very dependent on oil, even our budget is always predicated on how many barrels of oil we produce. Although the non-oil sector is thriving, for us to solve our problems we need to earn enough forex.

“And substantial part of our forex comes from the oil sector. So my ambition is to see how I can lead the sector to increase production and how we can get more revenue to be able to fund strategic national projects.

“We are already increasing production steadily. As at August it was about 1.1mbpd, but as at today it has increased to between 1.3 and 1.4mbpd exclusive of condensates, if you include condensates it will be about 1.7mbpd.”


 

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