President Bola Tinubu has asked the National Assembly to authorise an additional ₦1.15 trillion borrowing from the domestic debt market to bridge the funding shortfall in the 2025 budget. The request was read on the floor of the House of Representatives on Wednesday by Speaker Abbas Tajudeen, who said the proposal aims to cover the…
Governor Dikko Radda has presented a ₦897.8 billion budget proposal for 2026 to the Katsina State House of Assembly, describing it as a roadmap for sustainable development and improved public welfare. Presenting the appropriation bill, titled “Building Your Future III,” Radda said the proposal comprises ₦167.7 billion for recurrent expenditure and ₦730.1 billion for capital…
Nigeria’s House of Representatives has approved President Bola Tinubu’s plan to raise $2.347 billion from international lenders and investors, paving the way for a mix of Eurobonds, syndicated loans, and an inaugural $500 million Sukuk issuance aimed at financing next year’s budget and managing the nation’s maturing debts. The lower chamber’s approval came on Wednesday…
Cross River State Governor Bassey Otu presented the state’s ₦780.6 billion 2026 budget, themed “Budget of Inclusive Growth,” to the State House of Assembly on Tuesday. Governor Otu said the budget reflects his People First philosophy and a commitment to the sustainable development and prosperity of Cross River. The plan, developed following consultations with civil…
Lawmakers in Sokoto State have cleared a ₦38.8 billion adjustment to the 2025 budget, following a request by Governor Ahmed Aliyu to reallocate funds toward priority projects. Vice Chairman of the Finance and Appropriation Committee, Kabiru Ibrahim, told colleagues that the revised allocations would strengthen infrastructure delivery and expand social services. Majority Leader Bello Idris…
The Chairman of Senate Committee on Appropriations, Sen. Solomon Adeola, says the National Assembly has the duty to ensure that no part of the country is neglected in terms of development. Adeola, representing Ogun West Senatorial District,saud this while delivering a lecture on “The Role of Legislature in Shaping a Holistic Budget for Nigeria” at…
The House of Representatives ad-hoc committee over-sighting Rivers has issued a 48-hour ultimatum to the Sole Administration of the state, Vice Admiral Ibok-Eke Ibas (Rtd) to submit breakdown of major items in the N1.48 trillion 2025 budget. The committee’s chairman, Hon. Julius Ihonvbere (APC-Edo) issued the ultimatum at the budget defence session in Abuja on…
Nigeria’s Senate has approved the ₦1.48 trillion 2025 budget for Rivers State, under the backdrop of emergency governance imposed in the state due to political instability. The budget was passed following the presentation of a detailed report by an ad hoc Senate committee led by Senate Majority Leader, Senator Opeyemi Bamidele. The committee had been…
Nigeria’s Senate has granted an extension for the implementation of capital expenditures in the 2024 national budget, shifting the deadline from 30 June to 31 December 2025 to allow for the completion of critical infrastructure and public service projects. The bill amending the 2024 Appropriation Act was passed during Tuesday’s plenary session after being read…
Rivers State’s Sole Administrator, Vice-Admiral Ibok-Ete Ibas (Rtd), has alleged that officials from the suspended state government deliberately concealed financial data, undermining efforts to construct a transparent 2025 budget. Addressing the House of Representatives’ Ad-Hoc Oversight Committee on Wednesday, Ibas claimed the missing financial disclosures obstructed accurate reporting of expenditures made during the first quarter…
