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Labour Party Faults Ogun State’s ₦1.669 Trillion 2026 Budget Over Rising Debt Concerns

Phinadon Mag

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Quick Summary:
The Labour Party criticizes Ogun State’s ₦1.669 trillion 2026 budget, warning that its reliance on loans could deepen debt and threaten long-term financial sustainability.

he Ogun State Government has proposed a ₦1.669 trillion budget for the 2026 fiscal year, tagged the “Budget of Sustainable Legacy.” Governor Dapo Abiodun presented the proposal to the State House of Assembly on Wednesday, December 3, 2025, describing it as a blueprint for infrastructure expansion and economic growth.

The 2026 budget represents a 63% increase over the 2025 appropriation and is highly capital-intensive, reflecting the administration’s focus on long-term development projects.

Budget Breakdown
  • Total Budget: ₦1.669 trillion
  • Capital Expenditure (63%): ₦1.044 trillion
  • Recurrent Expenditure (37%): ₦624.76 billion
Funding Sources
  • Internally Generated Revenue (IGR): ₦509.88 billion
  • Federal Allocations (FAAC, VAT, etc.): ₦554.81 billion
  • Capital Receipts (Loans and Grants): ₦518.90 billion

Governor Abiodun stated that the budget aims to stimulate economic growthenhance service delivery, and position Ogun State for long-term prosperity, with a strong emphasis on infrastructure, education, and IGR expansion.

Labour Party’s Criticism and Fiscal Concerns

The Labour Party (LP) in Ogun State has sharply criticized the proposed budget, warning that its heavy reliance on borrowing could plunge the state into unsustainable debt.

Borrowing Concerns

Comrade Abayomi Arabambi, the Labour Party’s National Vice Chairman for the Southwest, described the borrowing plan as fiscally reckless, arguing that the state does not need to borrow to fund nearly half of its capital expenditure.

He cautioned that such borrowing would burden future generations and erode the state’s financial independence, urging residents to resist any attempt to finance the budget through excessive loans.

Potential Legal Action

Arabambi further revealed that the Labour Party may pursue legal action against the Abiodun administration if it proceeds with its borrowing plans for the 2026 fiscal year, citing potential violations of fiscal responsibility laws.

Fiscal Responsibility Debate

The LP accused the government of contradicting its own claims of fiscal discipline, arguing that the proposed debt-driven approach jeopardizes Ogun State’s financial future.

In contrast, the state government maintains that the budget is carefully structured to ensure sustainability, emphasizing that all borrowing will be strategic, transparent, and development-oriented.

Government’s Defense

Officials from the Ogun State Ministry of Finance have defended the budget, asserting that the loan components are targeted at infrastructure projects capable of generating long-term economic returns.

They argue that the “Budget of Sustainable Legacy” is designed to balance growth with fiscal prudence, ensuring that every borrowed naira contributes to productive investments rather than recurrent spending.

The administration insists that the increase in IGR projections and federal allocations will help offset borrowing needs and maintain debt sustainability ratios within acceptable limits.

Entertainment

Burna Boy makes history as the first male artist to reach No. 1 on Spotify’s Global Music Video Chart.

Ikechukwu Emmanuel

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Nigerian superstar Damini Ogulu, famously known as Burna Boy, has once again etched his name in history, this time by becoming the first male artist to claim the coveted #1 spot on Spotify’s newly launched Global Music Video Chart. This monumental achievement comes courtesy of his electrifying World Cup anthem with pop icon Shakira, ‘Dai Dai.’

‘Dai Dai’ has proven to be an unstoppable force, not only conquering the Spotify chart but also making significant waves on the Billboard Hot 100, where it recently soared to a new peak of #13. Industry experts are already predicting a top 10 entry next week, fueled by the highly anticipated World Cup Final Halftime Show performance by Burna Boy and Shakira this coming Sunday.
The song’s dominance extends far beyond these charts. ‘Dai Dai’ remains the most-streamed music video of 2026 on YouTube, boasting an astonishing half a billion views. It has also reached the pinnacle of the Apple Music Global Songs Charts, solidifying its status as a global phenomenon.

Burna Boy’s incredible success with ‘Dai Dai’ has further cemented his position as a titan of the music industry. He has extended his record as the African artist with the most monthly listeners in Spotify’s history, surpassing an astounding 53 million. Not stopping there, he has also set a new benchmark on YouTube Music, becoming the African artist with the most monthly listeners, exceeding 600 million.
These extraordinary achievements are a testament to Burna Boy’s undeniable talent, global appeal, and the ever-growing influence of Afrobeats on the international music scene. He continues to break barriers and inspire millions, proving that music truly knows no boundaries.

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Entertainment

Cardi B Addresses Maduka Okoye Speculation: “I’m Really Hip Hop’s Britney Spears”.

Ikechukwu Emmanuel

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In the relentless glare of public scrutiny, Grammy-winning artist Cardi B has once again found herself at the center of swirling rumors, this time concerning her burgeoning friendship with Super Eagles goalkeeper Maduka Okoye. Recent public appearances, including a dinner in Venice, ignited speculation about a potential romance, prompting Cardi B to candidly address the incessant public interest in her personal life.

The rapper, known for her unfiltered honesty, voiced her frustration in a widely circulated video, lamenting the disproportionate attention her activities receive compared to those of her peers. She highlighted a perceived double standard, where ordinary facets of her life become subjects of intense public debate, while similar situations involving other celebrities garner little to no interest.

“No cap, I’m really hip hop’s Britney Spears,” Cardi B declared, drawing a parallel to the pop icon who has famously navigated intense media scrutiny throughout her career. She continued, “I got all the tea on these celebrities. I know who’s with who and what’s doing what. But guess what? Nobody reports about it because nobody cares.”

Her exasperation was palpable as she added, “But when it comes to me, I can’t even do anything without people talking about it. This is crazy. You’ve got to take the good with the bad. It is what it is. People pay for this type of talk.”

Cardi B’s comments arrive amidst a crescendo of speculation surrounding her relationship with Okoye. The pair have been observed together on multiple occasions, notably during Paris Fashion Week and their recent rendezvous in Venice, fueling the ever-present social media buzz. Despite the widespread conjecture, neither Cardi B nor Okoye has publicly confirmed any romantic involvement, leaving the nature of their connection open to continued public interpretation and discussion.

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News

Fabian Ruiz Targets 2026 Ballon d’Or After Incredible Trophy-Laden Season.

Ikechukwu Emmanuel

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In a sport often dominated by household names, Paris Saint-Germain’s midfield maestro, Fabian Ruiz, has boldly declared his ambition to claim the coveted Ballon d’Or in 2026. The Spain international, fresh off a truly remarkable season, has articulated a desire that resonates with every professional footballer: to be recognized as the world’s best.

Ruiz, at 30 years old, has enjoyed a sensational campaign that has seen him achieve the pinnacle of both club and international football. Lifting the Champions League trophy with PSG and, even more significantly, securing the World Cup with Spain, has propelled him into conversations previously reserved for a select few. His performances throughout these triumphs have been nothing short of exceptional, showcasing a blend of tactical intelligence, technical prowess, and an uncanny ability to dictate the tempo of a game.

The World Cup, in particular, served as a global stage for Ruiz to demonstrate his undeniable talent. As the tournament progressed, his name began to circulate with increasing frequency among pundits and fans alike as a genuine contender for individual accolades. This growing recognition is a testament to his consistent high-level play and his ability to perform under immense pressure.

When questioned about his aspirations, Ruiz’s response, as reported by Marca, was both humble and resolute: “Who wouldn’t want to win a Ballon d’Or? I’m happy with the season I have had, winning the Champions League and the World Cup. If I’m in the running, it will be an honour.” This statement encapsulates the sentiment of a player who appreciates his current successes while simultaneously striving for even greater heights.

Fabian Ruiz’s declaration injects an exciting narrative into the footballing world. As he continues to perform at an elite level, all eyes will be on whether this gifted midfielder can transform his audacious ambition into reality and etch his name into the annals of football history as a Ballon d’Or winner.

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