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The Federal Government faces about N1.935tn funding gap in the N4.3tn budget proposed for the 2015 fiscal year, a new report has found. This represents a 45 per cent shortfall in the budget revenue. The 2015 Synopsis Outlook report by the Financial Derivatives Company Limited, a Nigeria-based research firm, links the drastic shortfall to lower oil prices which are expected to continue throughout the first half of the year. According to the report, a copy of which was obtained by our correspondent on Sunday, oil supplies will grow amid slower demand especially in China, while oil prices will fall below $50 per barrel before experiencing a slight rebound in the second quarter of the year. Continue...  

Gov. Babatunde Fashola of Lagos State on Sunday signed the state`s N489.690billion 2015 Appropriation Bill into law. The News Agency of Nigeria (NAN) reports that the governor`s assent to the bill followed its passage by the state`s House of Assembly on January 6. The budget comprises N247.713billion capital expenditure and N241. 977billion recurrent expenditure. Assenting to the bill at the State House, Marina, Fashola said the budget would focus on the completion of on-going projects in the state. Continue...  

The gorgeous Mavin Crew artist and mum-to-be is one of the four covers stars of Blanck Magazine’s latest issue and in the magazine she talks about about returning home, her massive successes and controversies as well as her thoughts on feminism and over sexualisation of music videos. Continue...

Micah is being tagged the man with the biggest natural hips and bum on Instagram. That assessment is not too far from the truth. The 20-year-old aspiring singer says his measurements are – chest: 41.5″ waist: 37″ and butt/hips: 63″. On his Instagram account he has a number of followers, who bash him for his looks, but Micah isn’t letting that stop his aspirations – especially since he claims to have been born this way. See more pictures after the cut:

SEOUL, South Korea — North Korea said Saturday that it had told the United States that it would impose a temporary moratorium on nuclear tests if Washington canceled its joint annual military exercises with South Korea to help promote dialogue on the divided Korean Peninsula. Continue...

Cristiano Ronaldo is officially the world's best player for the second straight year, as he received the 2014 Ballon d'Or on Monday night. The Real Madrid and Portugal forward was awarded FIFA's top individual honour over Barcelona forward Lionel Messi and Bayern Munich goalkeeper Manuel Neuer. Ronaldo, 29, took home the award for the third time in his career, after also winning it in 2008. He and Messi have been the only players to receive the award since then, with the Argentine earning the honour for four straight years from 2009 to 2012. The Portuguese earned 37.66 percent of the votes, while Messi edged Neuer, 15.76 to 15.72 percent, for runner-up. Continue...

The controversy surrounding the educational qualifications and certificates of the All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, seem not to have died down. Buhari’s educational qualification has come under scrutiny at various times by critics of the Daura-born retired General who have continually cited his lack of educational qualifications as one of the reasons why he is not capable of leading Nigeria effectively. An email purportedly from the US Army War College in Carlisle, Pennsylvania, United States of America has surfaced online disputing the claims on Buhari’s certificate that he gained a Masters Degree in Strategic Studies from the college in 1980. Continue...

President Goodluck Jonathan has promised two million jobs yearly if re-elected into office. Mr. Jonathan spoke Monday in Ibadan, Oyo State, were he met supporters of the Peoples Democratic Party, PDP, ahead of the February 14 election. Continue...

The popular Balogun market on Lagos Island was gutted by fire this morning January 12th. Four houses, five plazas and a Diamond Bank building on the street were razed by fire. The cause of the fire is unknown but men of the fire service are currently there working to put off the fire. Thankfully no life was lost. More pics after the cut... Continue...