The bill authorises the issuance of a total sum of ₦1,485,662,592,442 from the Consolidated Revenue Fund of Rivers State for the 2025 fiscal year, ending 31 December 2025. The senate has approved the sum of ₦1.485 trillion as the 2025 budget for Rivers state, marking a major milestone in the federal government’s ongoing emergency administration of the oil-rich south-south state. The passage followed the consideration and adoption of the report of the senate ad-hoc committee...
For the second time, the national assembly has extended the implementation of the 2024 capital budget to December 2025 amid growing concerns over fiscal discipline. The national assembly has again extended the implementation timeline for the capital component of the 2024 national budget, this time until 31 December 2025. This marks the second extension of the spending period, effectively placing Nigeria in the unusual situation of operating two budget cycles concurrently. The decision was announced...
A key highlight of the revised budget is a ₦50 billion provision for clearing outstanding pensions and gratuities The senate has defended the sharp upward review of the 2025 budget for Rivers state, describing the adjustments as necessary, people-focused, and vital for sustaining peace and development under the current emergency administration. The revised appropriation, submitted to the national assembly by the state’s sole administrator through the President and Commander-in-Chief, reflects a nearly 50 percent increase...
With the naira struggling against the dollar, oil production failing to meet targets, and inflation eroding household incomes, the national assembly faces increasing scrutiny over how effectively it can monitor budget performance, enforce compliance from MDAs, and ensure value for money in public spending. As Nigeria enters the second quarter of 2025, the country’s turbulent fiscal journey is perceived to be stuck in a  phase, marked by ambitious spending targets, volatile economic indicators, and mounting...
The approval marks the completion of the legislative process for the statutory budget, which governs the finances of the FCT in line with constitutional provisions. The national assembly has passed the 2025 Federal Capital Territory (FCT) Statutory appropriation bill, approving a total expenditure of approximately ₦1.81 trillion for the FCT in the 2025 fiscal year, an increase of ₦30 billion from the ₦1.78 trillion initially proposed by President Bola Tinubu. This passage followed the third...
The 2025 fiscal plan outlines a total budget of ₦1.481 trillion, with key allocations structured to sustain governance and service delivery in Rivers state amid ongoing political instability. The senate has approved the second reading of the 2025 appropriation bill for Rivers state, marking a significant step in the legislative process for a state currently under emergency rule. The bill, titled “A Bill for an Act to Authorise the Issue from the Consolidated Revenue Fund...
Under Regulation 4, Substitution 2(f) of the Emergency Rule (Rivers State) Regulations 2025, any expenditure from the state’s Consolidated Revenue Fund must be approved by the national assembly in the absence of a functioning state assembly. President Bola Ahmed Tinubu has transmitted the 2025 Appropriation Bill of Rivers State to the senate for consideration and approval, citing the ongoing state of emergency imposed in the oil-rich state since March 2025. The request, conveyed in a...
Bamidele noted that the FCT appropriation was designed to ensure the completion of ongoing projects that have direct impact on infrastructure and the wellbeing of FCT residents. The senate on Wednesday passed the second reading of a bill seeking to authorise the appropriation of N1.78 trillion for the Federal Capital Territory Administration (FCTA) for the 2025 fiscal year. The appropriation bill, sent to the senate by President Bola Tinubu, seeks to authorise the issuance of...
This marks a 99.96% increase from the 2024 budget of ₦27.5 trillion, reflecting the administration’s commitment to infrastructure, economic growth, and debt management. President Bola Tinubu has signed the ₦54.99 trillion 2025 Appropriation Bill into law. The bill was signed on Friday at a brief ceremony at the State House in Abuja. Parliament Reports recalls that the bill, was passed by the National Assembly on February 13, after increasing it from the initial N49.7 trillion...
The necessary corrections primarily affected allocations under recurrent expenditure, pensions, and capital projects. The National Assembly has revised some allocations in the 2025 appropriation bill passed recently. The revisions were made following a motion presented by the chairman, senate committee on appropriations, Sen. Solomon Olamilekan and chairman, rules and business, Rep. Francis Waive in the senate and house of representatives, respectively during Tuesday’s plenary. Parliament Reports recalls that the 2025 appropriation bill was passed by...
