Tinubu rules out petrol subsidy return, pledges reform continuity

President Bola Tinubu has received the United Nations' proposed 2027 budget, marking a first in Nigeria's 66-year history with the global organization, according to the country's Permanent Representative to the UN, Jimoh Ibrahim. The seven-volume document was presented to Tinubu at the State House in Abuja by Ibrahim, who chairs the UN General Assembly's Fifth Committee responsible for administrative and budgetary matters.

Ibrahim described the event as unprecedented, stating that it is the first time in history that a Nigerian president has received the UN's proposed budget through the process. He emphasized that the presentation is a procedural milestone, highlighting Nigeria's involvement in the UN's financial and administrative decision-making.

The proposed budget covers the UN's regular operations and peacekeeping activities, with an estimated $3.4bn allocated for regular budget and $8.5bn for peacekeeping operations, totaling approximately $14bn. However, the figures provided for the separate components add up to $11.9bn, leaving a $2.1bn discrepancy that requires further clarification.

Ibrahim stressed that the document is a proposed budget and still requires approval from member states, including Nigeria. He declined to comment on any specific benefits Nigeria might gain from the proposed spending but mentioned the construction of a $267m UN conference centre in Kenya as an example of the organization's investment in infrastructure within member states.

The presentation places Nigeria's participation in the UN budgetary process in the spotlight, but the practical implications will depend on the subsequent deliberations and final decisions of member states.