Compilations of top 10 key latest updates that you need to know this Wednesday morning, 24th December 2025
Budget crisis: NASS extends 2025 fiscal year to March
In a major fiscal reset aimed at addressing revenue shortfalls, weak capital execution and overlapping budget cycles, the National Assembly on Tuesday approved a revised N43.5tn 2024 Appropriation Act and a reworked N48.3tn 2025 budget framework, with the 2025 fiscal year extended to March 31, 2026.
The approval followed marathon plenary sessions in both chambers, culminating in the passage of the Appropriation Act (Repeal and Re-enactment) Bills for the 2024 and 2025 fiscal years, transmitted to the legislature by President Bola Ahmed Tinubu last Friday.
At the Senate, the revised budgets were approved after the adoption of a consolidated report of the Committee on Appropriations, presented by its chairman, Senator Solomon Adeola (Ogun West).
The exercise, lawmakers said, was designed to align Nigeria’s budget architecture with current fiscal realities, address implementation gaps and restore discipline to the budgeting process.
2027: Wike promised to hold PDP for Tinubu, Makinde alleges
Oyo State Governor, Seyi Makinde, on Tuesday broke his silence on his rift with the Minister of the Federal Capital Territory, Nyesom Wike, disclosing that their fallout stemmed from Wike’s alleged declaration to “hold down” the Peoples Democratic Party for President Bola Tinubu’s re-election in 2027.
Wike and Makinde were prominent members of the G-5 governors who opposed the PDP’s choice of Atiku Abubakar as its presidential candidate and Iyorchia Ayu as national chairman ahead of the 2023 general election, because both positions were occupied by politicians from the North.
Speaking during a media chat in Ibadan, the Oyo State capital, Makinde said the relationship collapsed after Wike made what he described as a “shocking” declaration during a meeting with President Tinubu, which he said the President neither requested nor endorsed.
Makinde said,
“The real issue was that I was in a meeting with the President. Wike, the President’s Chief of Staff and two others were also at that meeting. And Wike said to the President, ‘I will hold the PDP for you against 2027.’
2027: Turaki camp fumes as INEC rejects PDP excos
The Independent National Electoral Commission has rejected the Tanimu Turaki (SAN)-led National Working Committee of the Peoples Democratic Party, citing subsisting court judgments and unresolved legal processes.
In response to the decision, the Turaki-led NWC’s National Publicity Secretary, Ini Ememobong, maintained that the party leadership was legitimate and emphasised that there was no faction within the PDP.
However, Senator Samuel Anyanwu, National Secretary of the Nyesom Wike-backed faction, hailed the move as a faithful adherence to court judgments.
PDP governors had endorsed the Ibadan convention, where Turaki and other members of the NWC were elected on November 16 for four-year terms.
However, Wike, along with his allies, Mohammed Abdulrahman and Senator Anyanwu, insisted they still held the positions of Acting National Chairman and Acting National Secretary, respectively.
Measles death toll hits 153 in 11 months
The Nigeria Centre for Disease Control and Prevention has said that a total of 19,213 confirmed cases of measles have been recorded out of 26,866 suspected cases across 507 Local Government Areas in the 36 states and the Federal Capital Territory.
The NCDC also said the country has recorded 153 deaths from the infectious disease as of November 2025.The centre disclosed this in its measles situation report made available to journalists in Abuja on Tuesday.
Measles is an acute, highly infectious viral disease that causes fever, red rash, cough, and red eyes.It is transmitted through coughing and sneezing, contact with respiratory secretions or aerosols, or close personal contact.
The virus can remain contagious in the air or on surfaces for up to two hours.
The period of greatest infectiousness occurs four days before the onset of rash and four days after it appears.
Natasha shares Christmas rice, others in five Kogi LGs
The Senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, has distributed more than 2,000 bags of rice and other relief items to constituents across the five local government areas in the district as part of her Christmas outreach.
This was disclosed in a statement issued on Wednesday by her Special Adviser on Media, Mike Idoko.
The distribution, which was carried out simultaneously in Adavi, Ajaokuta, Okene, Okehi, and Ogori-Magongo Local Government Areas, aimed to cushion the impact of rising food prices and ensure that families celebrate the festive season with dignity.
Speaking during the outreach, Akpoti-Uduaghan said the initiative was driven by compassion and her conviction that leadership must translate into tangible benefits for the people.
CBN woos global investors with reforms
The Central Bank of Nigeria has taken its drive to attract increased capital inflows to the global stage, as the apex bank intensifies efforts to reposition the economy for stability and long-term growth.
Under the leadership of Governor Olayemi Cardoso, the CBN is pursuing deliberate strategies aimed at restoring discipline, strengthening confidence and creating sustainable investment opportunities for both domestic and international investors.
At a recent engagement in Washington, D.C., Cardoso reassured global investors of Nigeria’s renewed commitment to macroeconomic stability, transparent markets and predictable policy direction.
The message was clear: as investor confidence improves, the economy stands to benefit from stronger capital inflows, improved exchange rate stability and increased foreign reserves, all of which are critical to sustainable economic growth.
In the global marketplace, outcomes are rarely accidental.
Success in attracting capital and achieving economic development is typically the result of long-term planning, clarity of purpose, and transparent engagement with investors.
These were the core themes Cardoso conveyed to international investors at the just-concluded US–Nigeria Executive Business Roundtable in Washington, D.C.
Adeleke’s defection attracting more members to Accord – Chair
The Accord has announced a surge in nationwide membership following the defection of Osun State Governor, Senator Ademola Adeleke, to its platform, positioning the party as a growing political force ahead of the 2026 governorship election.
The National Chairman of the party, Maxwell Mgbudem, disclosed this on Tuesday during a press conference at the party’s national secretariat in Abuja, where he also sought to dispel claims of factionalisation within the party.
“Since His Excellency, Senator Ademola Adeleke, joined Accord along with his political associates and supporters, our party has experienced tremendous national acceptance.
Thousands of Nigerians have joined and identified with Accord across the country, a testament to Governor Adeleke’s political influence and national appeal,” Mgbudem said.
He explained that Adeleke’s entry, coupled with the influx of his supporters, has significantly strengthened the Accord Party’s national profile and bolstered its position in Nigeria’s democratic landscape.
PETROL: Consumers urge Dangote to expand partner stations
Following the reduction in the pump price of petrol by the Dangote Refinery, motorists in the Federal Capital Territory (FCT) have urged the company to increase the number of its partner retail outlets to make the product more readily available in the nation’s capital.
Dangote Refinery last week announced MRS Oil as its partner retail outlet, mandated to dispense petrol at N739 per litre nationwide.
With NNPC Retail outlets selling petrol at N835 per litre, TotalEnergies at N920, Conoil at N910, Eterna at N889, and AYM Sharfa at N840, MRS stations have become the major source of cheaper petrol for motorists and consumers.
However, checks around Abuja city centre and surrounding areas revealed that there are very few MRS retail outlets in the FCT.
At Katampe, along the AYA-Gaduma-Asokoro Road, the MRS station in the area was observed not to display its pump price, while queues have persisted since Dangote announced the price reduction.
It was gathered that the station does not sell petrol beyond 7:00 p.m. daily.
Dollar to Naira exchange rate today, December 24, 2025
The Nigerian Naira opened the Christmas Eve trading session with slight fluctuations against the United States Dollar across both the official and informal markets.
As of the morning of December 24, 2025, data from the Nigerian Foreign Exchange Market (NFEM) and various Bureau De Change (BDC) hubs show the local currency maintaining a relatively stable range despite increased seasonal demand for foreign exchange.
In the official window, the Naira is currently trading at an average of 1,453.70 per Dollar.
Early morning trades recorded a high of 1,460.75 before settling lower as market liquidity improved.
This represents a minor appreciation compared to the closing rate of 1,461.50 recorded at the end of Tuesday’s session.
The Central Bank of Nigeria (CBN) continues to monitor the market closely, with the “Mean” or simple average rate hovering around the 1,454 mark.
Traders note that while the festive season usually triggers a surge in corporate and personal travel demand, the official window has remained resilient due to consistent interventions and improved inflows from diaspora remittances.
With each film project, I’m reminded that growth happens outside of comfort zone” – Funke Akindele writes as she reveals the secret to continuous growth
The Queen of Nigeria’s Box office Funke Akindele has shared her secret to continuous growth.
While sharing new photos of herself on social media, she said with each film project, she is reminded that growth happens outside comfort zones.
Funke said hard work, consistency, and focus leads to continuous growth.With each film project, I’m reminded that growth happens outside comfort zones.
Hard work, consistency, and focus lead to continuous growth. Excited for what’s next!
