The Leader of the Senate, Senator Opeyemi Bamidele, has called on the Lagos State Government and other Southwest states to establish a regional development and investment compact to accelerate infrastructure development, economic integration and regional prosperity.

Bamidele made the call on Thursday while delivering a keynote address at the Lagos Physical Planning Summit held at Eko Hotel and Suites, Victoria Island, Lagos, where he proposed a Lagos-Southwest Spatial Development and Investment Compact.

He said Lagos could not secure its long-term prosperity through isolated state planning, stressing that its economy was deeply interconnected with neighbouring states through labour markets, housing, agriculture, manufacturing, transportation, trade and environmental systems.

According to him, the proposed compact would provide a framework for coordinating cross-border infrastructure, developing regional economic corridors, strengthening environmental resilience and mobilising investments in projects that benefit multiple states.

Bamidele urged the Lagos State Government to move beyond treating physical planning as a routine governmental activity and embrace it as a coordinated system for delivering economic value, social welfare, environmental sustainability and regional prosperity.

He explained that achieving this transition would require a change in mindset, stronger institutions, reorganisation of investment priorities and closer alignment between development plans and implementation.

The Senate Leader proposed a collaborative framework involving Lagos, Ogun, Oyo, Osun, Ondo and Ekiti states, alongside relevant federal institutions, planning authorities, infrastructure agencies, private-sector operators, professional bodies and development partners.

He said the framework should prioritise regional transportation networks, complementary economic corridors, cross-border urban planning, environmental resilience and investment mobilisation.

Bamidele also urged Lagos to leverage the emerging digital revolution by expanding broadband infrastructure, smart-city technology, digital services, innovation hubs and technology-driven enterprises, while equipping its workforce with the digital skills required to compete in a changing economy.

He maintained that the future of Lagos would depend not only on the quality of its development plans but also on the determination with which they were financed, coordinated and implemented.

“We must connect physical planning to economic development, infrastructure investment to measurable public benefits, digital innovation to effective governance, and state-level priorities to regional cooperation,” he said.

Bamidele further emphasised the need for capable institutions, predictable regulations, transparent financing, responsible investment and sustained collaboration among governments, the private sector, professional institutions, communities and development partners.

He expressed confidence that a coordinated Lagos-Southwest development framework would strengthen regional economic integration, unlock investment opportunities and promote sustainable development across the six states.

President Bola Ahmed Tinubu has expressed deep sadness over the death of Pa Reuben Famuyide Fasoranti, the revered Afenifere leader, who died at the age of 100.

Tinubu, in a condolence message issued by the State House on Tuesday, October 20, 2026, described the late Yoruba leader as an icon of integrity, a patriot and one of the foremost figures in the progressive political tradition associated with the late Chief Obafemi Awolowo.

The President extended his condolences to the Fasoranti family, the people of Akure Kingdom, the Ondo State Government and people, the South-West region and members of Afenifere.

He said Fasoranti’s century-long life exemplified integrity, discipline, selflessness and an unwavering commitment to the advancement of the Yoruba people and the unity and progress of Nigeria.

Tinubu recalled the deceased’s contributions as an educationist and school principal, his service as Commissioner for Finance in the old Ondo State, and his leadership of Afenifere, noting that he remained committed to true federalism and social justice.

According to the President, Fasoranti also made significant sacrifices in the struggle for democracy in Nigeria, sometimes at the risk of his life.

He lamented that the country would miss the elder statesman’s wisdom, moral authority and fatherly counsel, particularly at a time when his guidance was greatly needed.

Tinubu also recalled celebrating Fasoranti’s 100th birthday on May 11, 2026, describing the milestone as an opportunity to celebrate not merely longevity but a lasting legacy of honour and service.

The President further recounted his visit to Fasoranti’s residence in Akure in 2022 to inform him of his intention to contest the presidency.

According to Tinubu, the Afenifere leader prayed for him and expressed confidence that he would become President during his lifetime, a prayer he said was answered.

“I had hoped Papa would also be around with us for my second term to witness the full dawn of economic growth and prosperity in the land,” Tinubu said.

Despite the loss, the President urged Nigerians to give thanks for Fasoranti’s long life of service and fulfilment.

He prayed for the peaceful repose of the deceased’s soul and asked God to comfort his family and all those mourning his passing.

“May his gentle soul rest in perfect peace,” the President added.

The Presidency has dismissed claims by Oyo State Governor Seyi Makinde that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividend windfall meant for each state, describing the allegation as false and inconsistent with the country’s revenue-sharing framework.

Governor Makinde made the claim on Friday at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, alleging that the funds would not be released until after the 2027 general elections.

The governor, who is also the presidential candidate of the Allied Peoples Movement (APM), said Oyo State had identified projects that could boost its economy but would be unable to proceed as planned if the expected funds remained unavailable.

“Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election,” Makinde said.

However, presidential spokesman Bayo Onanuga, in a statement on Sunday, rejected the allegation, arguing that the figures cited by the governor did not align with the scale of NLNG’s dividend payments or the statutory revenue-sharing formula.

Onanuga explained that distributing ₦250 billion to each of Nigeria’s 36 states would require a total of ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government areas.

Under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue. According to the presidential spokesman, generating ₦9 trillion for the states from NLNG dividends alone would require total dividend payments exceeding ₦33.68 trillion, equivalent to approximately $25 billion, in a single declaration.

The Presidency maintained that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.

Providing historical context, Onanuga said NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.

He argued that the claim of a single dividend payout large enough to fund ₦250 billion for every state was inconsistent with the company’s historical dividend record.

The presidential spokesman also criticised Makinde’s public comments on federal revenue allocations, urging the governor to exercise restraint and present verifiable facts in his political engagements.

While acknowledging Makinde’s right to pursue his presidential ambition, the Presidency urged him to avoid what it described as false claims and disinformation during his campaign.

It also called on Nigerians to disregard the allegation, insisting that it could mislead the public and create unnecessary tension between citizens and the Federal Government.

The controversy has brought renewed attention to the scale of NLNG dividend receipts, the distribution of Federation Account revenue and the financing expectations of state governments as preparations for the 2027 elections gather momentum.