News
Breaking: Speaker Obasa Clarifies Negative Perceptions As Sanwo-Olu Presents 2025 Budget
– says lawmakers united to meet yearnings of Lagosians
– accuses detractors of peddling news of alleged governorship ambition
Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, on Thursday said he had not given a serious thought about becoming the next governor of the state as was already being speculated.
Dr. Obasa said his major concern has been to strengthen the party in the state adding that this is why he continues to minimise more people to support the party at all times, an act which has been misconstrued by ‘political detractors’ to mean that he was chasing a governorship ambition.
The Speaker said this in his remarks shortly after Governor Babajide Sanwo-Olu presented the state’s 2025 budget size of N3,005,935,198,401.
Earlier, a vote of confidence was passed on the Speaker by all the lawmakers present at plenary.
Sanwo-Olu had said the budget comprised a total revenue of N2,597,034,000,000 and a deficit financing of N408,902,000,000.
The ‘Budget of Sustainability’ which is made of a recurrent expenditure of N1.239 trillion (41%) and capital expenditure of N1.766 trillion (59%), is also to be sourced from a total revenue of N1,970,897,000,000 and total Federal transfers N626,137,000,000.
Reacting, Speaker Obasa noted that the budget was presented at a time complaints by Nigerians about the economy. He, however, appealed to Nigerians to be hopeful as President Bola Tinubu’s administration works to ensure the nation’s economic recovery.
He added: “I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.
“To the blackmailers who have embarked on the mission to distort and redefine our mission, let me state it unequivocally here, our intention is to promote our party on the platform of Mandate.
“Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better of.”
Read the Speaker’s full remarks below:
Distinguished guests, it is my great pleasure to welcome you all to yet another budget presentation by Governor Babajide Olusola Sanwo-Olu. Today marks another significant milestone for our dear State in the pursuit and realisation of remarkable economic transformation, infrastructural renewal and development towards a greater Lagos. The Y2025 budget proposal themed “Budget of Sustainability”, which is above the N 2.3 trillion presented by Mr Governor last year, is a confirmation of our commitment to sustainable development and economic growth.
2. Ladies and gentlemen,
This presentation is coming at a time when we all face the reality of daunting economic challenges. We recognise the current economic upheaval, but we are confident that our strategic plans will stimulate growth, attract investments, and improve the standard of living for all Lagosians. Also, the renewed hope of President Bola Ahmed Tinubu, GCFR, is focused on the futuristic plan for the nation’s economic recovery, which is indeed certain and realisable. As such, I appeal to our people to keep the hope alive. There is, no doubt, a light at the end of the tunnel for us as a nation!
3. Esteemed guests,
It is on the record that this honourable House has always been in support of the present administration, particularly the Governor in everything. There has never been a request from Mr Governor that this House has ever denied.
4. That being said, it is necessary to harp on the fact that under democracy, this arm of government remains independent. This House, of course, recognizes this and will always be so, even though we work hand-in-hand with other arms of government. It is also important to state here that this House is a sanctuary and temple, just like every other temple anywhere where we all worship. No one will violate any temple and expect the gods to accept his or her sacrifice. And if such happens, there must be an appease to the gods to accept such atonement. No amount of intimidation or coercing will disintegrate or change the belief of all the members of this institution!
5. Today, we want to assure Mr Governor that this honourable House will look at the budget and do the necessary scrutiny as usual. But it should be noted that this institution remains resolute. We will never be disgraced, abused or ridiculed in the name of creating a seamless working ambiance.
6. Let me also emphasise that those who live in glass houses must not throw stones as the saying goes. This also brings to my mind, according to our people: eni ba yara logun ngbe. Meaning, the god of iron recognises the swift ones. In other words, those who are facilitating or planning to interfere in this House or destroy the cohesion of this institution should also be prepared for the same fate.
7. Ladies and gentlemen,
May I use this medium to sensitise us more on the need to build and sustain our party, the All Progressives Congress (APC) regarding our focus for 2027. We need to continue to mobilise people just as I do frequently. I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.
8. To the blackmailers who have embarked on the mission to distort and redefine our mission, let me state it unequivocally here, our intention is to promote our party on the platform of Mandate. Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better of.
9. In addition, it is also important to correct the impression from some naysayers who have been insinuating that I made payment to seek for blood relation in Ojo to validate my candidacy to run as governor. Of course, I have never denied the fact that I am OBASA. But rather, I have never claimed to be related to Onikoyi, Oniru, or any of the other popular Lagos families as the case may be. I can indeed never run from the fact that I am related to my Obasa family in Ojo. But I do not need local validity to contest or run. If eventually I am contesting, I will do so from Agege!
10. Nonetheless, we want to thank Mr Governor for doing the needful, constitutionally, by presenting the budget. You can rest assured that this House will also respect its constitutional right to address the budget and get back to you.
11. Distinguished guests,
As we hope that the Y2025 Budget will be of great benefit to the people of Lagos State, we, however, appeal to Mr Governor and Lagosians to give us sufficient time to enable the House do a thorough job on a financial document that has great influence on the lives of the people. The Assembly would not delay the passage of the budget, but we will be interested in placing a high premium on the need to ensure that the interests of Lagosians are protected socio-economically and politically. We are your representatives here at the House of Assembly, and we are duty bound to do justice to every sector of the state’s economy.
12. At the same time, I want to thank my colleagues for standing on the side of the people at all times. I appreciate your efforts, I cherish your support, which has always been an inspiration and source of strength for me. I commend your courage and perseverance. We will remain united, focused and determined until our expectations are realised.
13. My sincere commendation also goes to the Clerk of the House and the entire staff and management for performing their responsibilities with a sense of patriotism and loyalty. I thank everybody here in this hallowed chamber and all Lagosians for your support and resilience and we appreciate the fact that you are not giving up on us. We will not let you down. We will take you to the promised land: it is a mandate we cannot but fulfil.
Once again, I thank you all for coming and wish us a fruitful Y2025.
Thanks for your listening pleasure.
Rt Hon (Dr) Mudashiru Ajayi Obasa,
Speaker, Lagos State House of Assembly
News
Oyo 2027: Adelabu Quits As Power Minister To Focus On Guber Race
The Minister of Power, Adebayo Adelabu has formally resigned from his position in the Federal Government to pursue his governorship ambition in Oyo State.
In a resignation letter dated April 22, 2026, and addressed to the President, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.
The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”
He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”
Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.
He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.
“It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”
The former minister said his resignation was to enable him focus fully on his governorship ambition in Oyo State, citing provisions of the amended electoral law.
He added, “My decision to step down is informed by my intention to focus fully on my gubernatorial ambition in Oyo State. This aspiration, which dates back to 2016 during my service as Deputy Governor of the Central Bank of Nigeria, ultimately led to my voluntary resignation from the Central Bank in 2018 in order to pursue the same goal.”
“In line with the provisions of the Amended Electoral Act 2026, which preclude political office holders from contesting elections, I consider it both appropriate and necessary to resign at this time.”
Adelabu’s exit marks a major political development ahead of the next electoral cycle, particularly in Oyo State, where he is expected to contest the governorship election.
News
Wale Edun, Musa Dangiwa Resigned Voluntarily, Not Sacked – Presidency
The Presidency has clarified that Wale Edun (former Finance Minister) and Ahmed Musa Dangiwa (former Housing Minister) voluntarily resigned from their positions and were not sacked by President Tinubu.
In a statement released this evening April 22, presidential media aide, Bayo Onanuga, said that contrary to public opinions, Wale Edun resigned on health grounds while Dangiwa also tendered his resignation and thanked the President for the opportunity given him to serve in the Federal Executive Council.
Onanuga stated that Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.
“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda, Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected. I wish you and the administration every success in the future” he wrote
Onanuga stated that on Tuesday, before the Office of the Secretary of the Government of the Federation announced his departure from the Cabinet, Edun paid a valedictory visit to the President at the Villa and held an hour-long discussion with the president and then left to focus on his private businesses.
The presidential aide stated that President Tinubu has expressed deep appreciation to Edun and Dangiwa for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.
‘’In the same vein, the President has urged the new Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.
President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Dangiwa, to the Senate for confirmation” the statement concluded
News
Unity Bank, Experts Advocate Green Investment, Climate Innovation To Drive Economic Resilience
Nigeria’s retail lender, Unity Bank Plc, alongside leading climate innovation experts, has called for increased investment in the green economy and the adoption of frontier technologies as critical pathways to driving economic resilience and reducing the impact of climate change on vulnerable populations across Africa.
The call was made during a thought-provoking webinar hosted by the Bank to commemorate this year’s Earth Day, themed “The True Cost of Climate Change and Who Pays?”. Climate experts and stakeholders convened to examine the human, economic, and institutional costs of climate change, while spotlighting practical solutions to address its growing impact.
In his opening remarks, Unity Bank’s Head of Strategy and Innovation, Ibukun Coker, emphasised the urgency of addressing climate risks from both a societal and business perspective.
He said: “Climate change is no longer a distant or abstract challenge. It is an existential threat with direct consequences for individuals, businesses, and economies. At Unity Bank, we recognise the role institutions must play in incorporating sustainability in project financing, supporting businesses and promoting solutions that build resilience in communities where we operate.”
The webinar featured Chinwe Udo-Davis, Founder and CEO of Instollar, and Oluwatosin Ajide, Programme Manager at the Nigeria Climate Innovation Centre, both of whom provided insights into the drivers of climate change and the pathways to mitigation and adaptation.
Speaking during the session, Udo-Davis highlighted the disproportionate burden which climate change places on underserved communities and the need for inclusive solutions.
“The true cost of climate change is not evenly distributed. Communities with the least resources are often the most affected, whether through energy poverty, environmental degradation, or limited access to sustainable alternatives. Addressing this imbalance requires intentional investment in clean energy solutions that are both accessible and scalable.”
Ajide underscored the importance of coordinated, system-wide approaches in tackling climate challenges, particularly through innovation and policy alignment.
“Climate change is fundamentally a structural problem, and its solution requires a paradigm shift: from innovation and policy to financing and implementation. Stakeholders must work collaboratively to drive solutions that are sustainable and inclusive.”
The session also explored emerging opportunities in climate technology, renewable energy, and ecosystem financing, reinforcing the role of innovation and cross-sector collaboration in building long-term resilience.
By hosting the webinar, Unity Bank continues to demonstrate its commitment to advancing sustainability-focused dialogue and supporting initiatives that promote responsible growth and environmental stewardship.
The initiative underscores the Bank’s broader strategic focus on environmental sustainability as well as its commitment to financial inclusion.
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