Economy
Nigeria’s Education Budget Jumps To N3.52tn Under Tinubu, Says Shettima
Nigeria’s Education Budget Jumps To N3.52tn Under Tinubu, Says Shettima
Nigeria’s education budget jumps to N3.52tn under Tinubu, says Shettima. He said the improved budgetary provision was a significant increase from N1.54 trillion in 2023.
Vice-President Kashim Shettima says Nigeria’s education budget has jumped to N3.52 trillion in 2025 under President Bola Tinubu’s administration.
Mr Shettima, who stated this on Tuesday in Abuja, at the opening of the 2025 Nigeria Education Forum, said the improved budgetary provision was a significant increase from N1.54 trillion in 2023.
The forum was organised by the Nigeria Governors’ Forum (NGF), federal ministry of education, and the committee of states’ commissioners of education.
The theme of the forum was ‘Pathways to Sustainable Education Financing: Developing a Synergy Between Town and Gown in Nigeria’.
Represented by Aliyu Modibbo, the special adviser to the president on general duties (Office of the Vice-President), Mr Shettima said that the number of out-of-school children in the country constitutes a national emergency.
The vice-president called for collaboration between government and private sector stakeholders to address the problem.
Mr Shettima stated that education spending under President Bola Tinubu reflected the administration’s unwavering commitment to building an enlightened and globally competitive population.
He added, ” Nothing threatens a civilisation more than an uneducated generation.
” Nations rise when the people, regardless of circumstance, are equipped with the knowledge to imagine a better future and the skills to build it.”
The vice-president emphasised that Nigeria had reached a critical inflexion point where traditional government-only funding models can no longer sustain the country’s educational needs.
Mr Shettima, therefore, called for a fundamental shift toward collaborative, innovative, and resilient financing mechanisms.
”The burden cannot rest on government alone. We must enlist private sector actors, industry leaders, alumni networks, philanthropists, and communities to co-invest in laboratories, research centres, vocational hubs, innovation clusters, and endowment funds.”
Mr Shettima detailed substantial increases across key education funding agencies under the Tinubu administration’s Renewed Hope plan.
”For example, the Tertiary Education Trust Fund (TETFUND) budget grew from N320.3 billion in 2023 to N683.4 billion in 2024, and now stands at N1.6 trillion in 2025.
”The Universal Basic Education Commission (UBEC) has distributed N92.4 billion in matching grants to 25 states and the Federal Capital Territory.
”Another N19 billion has supported teacher development across 32 states and the FCT, while N1.5 billion has reached more than 1,147 communities.
”Individual state UBE grants have increased from approximately N1.3 billion to over N3.3 billion, allowing states to access more than N6.6 billion through counterpart funding arrangements,” the vice-president added.
He said that the newly created Nigerian Education Loan Fund (NELFUND), established under the Students’ Loans Act of 2024, had already disbursed ₦86.3 billion to over 450,000 students in 218 tertiary institutions nationwide.
Mr Shettima said, “This fund signals a new era where no Nigerian is denied tertiary education for lack of money.
“The learning crisis cannot be solved without safe and well-equipped schools, from basic classrooms to technical laboratories.

Shettima
”Teachers must enjoy adequate training, welfare, and professional recognition if they are to deliver the outcomes our children deserve.”
He called for deliberate collaboration across federal, state, and local government levels, emphasising the importance of prompt counterpart funding, transparent utilisation of resources, and strict adherence to action plans.
“Since education begins in the community, local governments and traditional institutions must take responsibility for infrastructure development, school maintenance, security, and teacher welfare.
”We are here today because we do not treat education as just a line item in the national budget.
”We treat it as the foundation of our national identity, the engine of our economic transformation, and the shield of our collective security,” the vice-president said.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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