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Tinubu Sets N1,500 to Dollar in 2025 Budget to Boost Nigeria’s Economy and Reduce Inflation

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In his 2025 Appropriation Bill presented to the joint session of the 10th National Assembly in Abuja on Wednesday, President Bola Tinubu set a target of N1,500 to the dollar.

The target marks a reduction of around N200 from the current exchange rate, which hovers around N1,700 to a dollar.

The move is a step toward improving the country’s economic performance and addressing the ongoing challenges of inflation and exchange rate instability.

The budget projections are ambitious, with the government aiming to reduce inflation significantly from its current rate of 34.6% to 15% in the coming year.

In addition to the exchange rate improvement, the budget also sets a target for crude oil production, with the base assumption set at 2.06 million barrels per day.

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The president outlined several key strategies to achieve these targets.

These include reducing the importation of petroleum products and increasing exports of refined petroleum products.

There is also a focus on boosting agricultural production, to achieve a bumper harvest, driven by improved security measures that will reduce reliance on food imports.

In his speech, Tinubu emphasized the need to increase foreign exchange inflows, which will be facilitated by greater foreign portfolio investments.

He also mentioned the government’s efforts to boost crude oil output and exports, alongside a substantial reduction in upstream oil and gas production costs.

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These measures are expected to contribute significantly to the overall economic stability the government is aiming for in 2025.


 

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Man Found Alive Nearly Two Weeks After Balogun Market Fire Incident

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An update has been shared on the burnt building at Balogun Market on Lagos Island, as it was revealed that a man was rescued 11 days after the building caught fire.

According to reports, the man was found alive on January 6, 2026, after being discovered under the rubble of the collapsed structure.

The survivor has since been taken for proper medical care, while further details are yet to be released.

Meanwhile, passersby and market traders have expressed concern, fearing that more people may still be trapped alive inside the building.


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Anthony Joshua Discharged from Hospital After Fatal Car Crash

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It has been reported that Anthony Joshua has officially been discharged from the hospital following the terrible car crash that claimed the lives of his two closest friends and supporters.

The boxing star was deemed stable enough to go home after the accident. After his discharge, he visited the funeral to pay his respects and see the bodies of his two friends.

Many have expressed grief and offered their support to the boxing star, praying that he will be able to find peace, as grief will undoubtedly be one of the most painful challenges he will face in life.


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‘Government Prioritizes Money More’ — PDP Calls Out FG On New Tax Law

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It has been shared that the Peoples Democratic Party (PDP) is calling on the federal government to suspend the tax law set to take effect on January 1, 2026.

This was revealed in a statement released by Ini Ememobong, National Publicity Secretary of the PDP. He stated that this new law shows how Nigerians and the masses will be affected, arguing that the government is prioritizing finance over security and other pressing matters.

“Rather than address these issues comprehensively, the Presidency has consciously minimized them and instead insisted that the commencement date must stand, despite the discrepancies,” the party said, adding that this “clearly shows where the priority of the government lies between Nigerians and money.”


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