News
Senator Seeks Constitution’s Alteration For Increased FG Revenue Allocation
Senator Seeks Constitution’s Alteration For Increased FG Revenue Allocation
Senator seeks constitution’s alteration for increased FG revenue allocation. Mr Karimi said the alteration seeks to increase the federal government’s revenue allocation to address mounting financial obligations and national responsibilities
Afederal lawmaker, Sunday Karimi (APC-Kogi West), on Tuesday presented a constitution alteration bill to the Senate, seeking an adjustment to the 1999 Constitution on the revenue allocation formula.
The bill, entitled “Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill (SB 1016),” scaled the first reading during plenary.
Briefing journalists after the plenary, Mr Karimi said the proposed alteration seeks to increase the federal government’s revenue allocation to address mounting financial obligations and national responsibilities across Nigeria.
He described the current revenue-sharing formula as outdated and unsustainable, stressing that it was placing excessive financial pressure on the federal government amid rising infrastructure decay and insecurity nationwide. According to him, federal roads nationwide have deteriorated badly, while huge resources are committed to combating banditry, terrorism, and other security threats across the country.
He noted that federal road projects awarded since 2014 had remained uncompleted due to inadequate funding, forcing contractors to stage protests over persistent non-payment by the government. He said, “The revenue formula has become too old and no longer sustainable. There is too much financial burden on the federal government.
“All the federal roads all over the country are down. Apart from the roads, a lot of funds are being spent on fighting banditry. “All the federal government roads awarded since 2014 have not been completed because of inadequate funds.”

Senate
The bill, according to him, seeks an adjustment to the revenue-sharing formula, even as he stressed the need to educate Nigerians to avoid politicising the issue.
“So what I’m asking for is an adjustment in the revenue allocation formula to increase the federal government’s allocation.
“I know that if we are asking for a change, Nigerians will bring politics into it. So we need to educate Nigerians on this development.
“This is why we need this alteration to increase the revenue accruing to the federal government. Under this sharing formula, some states are getting more with no one asking them questions about what they are doing with their allocation,” he stated.
The senator noted that inadequate funding also affected the military’s fight against terrorism, arguing that revenue adjustment was necessary to relieve pressure on the federal government.
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.
International
2026 GFP Report: Nigeria’s Navy Ranked Strongest In Africa, 22nd Globally
2026 GFP Report: Nigeria’s Navy Ranked Strongest In Africa, 22nd Globally
2026 GFP Report: Nigeria’s Navy ranked strongest in Africa, 22nd globally. The Nigerian naval fleet has been ranked the strongest in Africa, according to a 2026 Global Firepower (GFP) report.
The ranking is based on each country’s conventional war-fighting capability across land, sea, and air.
Nigeria shares maritime boundaries with the Republic of Benin, Cameroon, Equatorial Guinea, Ghana, and Sao Tome and Principe, all located in the Gulf of Guinea, along an estimated 853 km coastline.
The waters also cover Nigeria’s exclusive economic zone (EEZ), which extends 220 nautical miles offshore and contains resources such as oil and aquatic life.
However, piracy and disputes remain persistent challenges.
Patrol boats, numbering 132, make up the bulk of the country’s 152 naval assets. The fleet is also credited with two mine warfare ships and one frigate.
Mine warfare can be deployed to deny access to strategic waterways or support siege-type operations around harbours and ports, while frigates have deep-water capabilities and can support rotorcraft.
The patrol boats consist of offshore patrol vessels, gunboats, missile boats, and fast-attack craft, designed for shallow-water operations.
The GFP report noted that Nigeria lacks aircraft carriers, submarines, corvettes, and destroyers.
Globally, the country was ranked 22nd.
In overall military strength, Nigeria was ranked third in Africa, behind Egypt and Algeria, and 33rd of 145 countries considered in the annual GFP review.

Navy Arrests
EGYPT, ALGERIA BEHIND NIGERIA IN NAVAL STRENGTH
Egypt was ranked Africa’s strongest military, followed by Algeria.
However, in terms of naval strength, Egypt was ranked second in Africa with 149 vessels and 23rd globally.
Algeria came in third place on the continent with 111 vessels and was ranked 34th globally.
Morocco and South Africa, operating 100 and 63 vessels, respectively, ranked fourth and fifth in Africa.
Tunisia, with 37 vessels, came sixth. Mozambique was seventh with 36 vessels, and Angola ranked eighth with 32 vessels.
Kenya and Eritrea occupied the ninth and 10th positions in Africa with 27 and 23 units.
News
High Court Fixes April 30 For Ruling On Final Forfeiture Of Property Owned By Former Acting AGF
High Court Fixes April 30 For Ruling On Final Forfeiture Of Property Owned By Former Acting AGF
High Court fixes April 30 for ruling on final forfeiture of property owned by former acting AGF. Justice Mohammed Umar of the Federal High Court, sitting in Maitama, Abuja has fixed April 30, 2026 for ruling on the application filed by the Economic and Financial Crimes Commission, EFCC, for final forfeiture of a property owned by the former Acting Accountant General of the Federation, Chukwunyere Anamekwe Nwabuoku.
At Tuesday’s proceedings, defence counsel, N.I Quakers, SAN, informed the court of an application seeking the setting aside of the interim forfeiture order which the court granted on January 27, 2025, and another a notice of preliminary objection, dated August 15, 2025 bordering on the jurisdiction of the court.
He prayed the court to discountenance the prosecution’s final forfeiture application on the ground that the said property is also part of the reason for which he is facing criminal trial in another court. He questioned the jurisdiction of the court to entertain the matter and prayed the court to set aside EFCC’s application.
In response, prosecution counsel, Ekele Iheanacho, SAN, made reference to a motion dated May 6, 2024, and filed on the same date, that sought the final forfeiture order. He stated that the said property was reasonably suspected to have been acquired with proceeds of crimes. The application, the prosecution noted, is supported by an eight paragraph affidavit, written by Chinyelu Vivian Okpara, an operative of EFCC with attachments marked Exhibit EFCC 1 to EFCC 7. Relying on all the paragraphs in the affidavit, the prosecuting counsel urged the court to grant the application for the final forfeiture of the property.
Explaining further, the prosecution counsel said, “My lord, the respondent at the material time of these transactions was the Director of Finance in the Ministry of Defence. Funds were released strictly for military operations in fighting Boko haram, of which part of it was sent to the Ministry of Defence. Part of the funds were diverted using fictitious accounts up to the tune of N900 million.”
“My lord, from that funds, about N355 million went to the respondent and it was sent through an account he nominated, belonging to his friend, M Davies Enterprises Ltd and it was from that account that the property in question was purchased and it is that property the defendant is currently living in.

Federal High Court
It was in the course of the investigation that the defendant on his own handed over the keys of the house to be forfeited, as well as refunded some of the funds. Surprisingly, when this proceedings commenced, he turned around to challenge the forfeiture of the property. We urge the court to grant the application,” he said.
Further in his argument, the prosecution counsel stated that, “We also filed another affidavit on May 16, 2024. Again, we urge your lordship to grant this application,” he said. Justice Umar adjourned the matter till April 30, 2026 for ruling on the applications and judgment.
The anti-graft agency is also prosecuting Nwabuoku on amended nine-count charge of money laundering to the tune of N868, 465,000 (Eight Hundred and Sixty-eight Million, Four Hundred and Sixty-five Thousand Naira) before Justice James Omotosho of the Federal High Court, Abuja.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
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