Morning recap: Tinubu, Obi sign peace pact, states’ budgets jump 47%, other top stories

1. Presidential candidates Tinubu and Obi sign the National Peace Accord, committing to non-violent campaigns as Nigeria's 2027 general elections approach.

2. The 36 states and Federal Capital Territory's combined budgets have increased by 47.5% to N40.14 trillion in 2026, but the share allocated to capital projects has decreased from 73.24% to 64.34%.

3. The National Drug Law Enforcement Agency (NDLEA) has dismantled an international cocaine cartel, arresting social media influencer KC Luxury, also known as Afolabi Kazeem Michael, who attempted to flee to Paris with 184.50kg of seized cocaine.

4. The Federal Government, states, and local government councils have recorded a record N3.007 trillion allocation from the Federation Account in July 2026, the highest ever, driven by stronger petroleum and non-oil tax revenues.

5. Former President Goodluck Jonathan has cautioned against the practice of providing excessive security details to governors and senior officials during off-cycle elections, fearing it could create an atmosphere of intimidation.

6. The Nigeria Labour Congress has urged the Federal Government to resolve the ongoing salary dispute with Joint Health Sector Unions, warning that failure could lead to another industrial crisis in the health sector.

7. President Tinubu has met with EFCC Chairman Ola Olukoyede and Housing Minister to discuss the management and disposal of seized houses nationwide, marking the first public engagement since the Osun account freeze row.

8. Abuja's FCT Administration has begun mass demolitions of structures built on water channels following widespread flooding in Maitama, as ordered by Minister Nyesom Wike.