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...
The National Assembly has praised FIRS for surpassing its 2024 revenue target, hitting N21.6 trillion, and set an ambitious N25 trillion target for 2025 The National Assembly has commended the Federal Inland Revenue Service (FIRS) for surpassing its 2024 revenue target. This happened on Wednesday during the budget defence of the FIRS led by its Executive Chairman, Zacch Adedeji, who stressed how the agency had surpassed its revenue collection target of N19.4 trillion to N21.6...
Akpabio emphasised the transformative power of budgets in addressing societal inequalities. President of the Senate, Godswill Akpabio, has called for the ₦49.74 trillion 2025 budget to prioritise the welfare of Nigerians, aligning with the Tinubu administration’s vision of a better future. Akpabio made this assertion on Thursday while giving his opening remarks at the stakeholders’ public hearing and interactive session on the 2025 appropriation bill. Akpabio emphasised the transformative power of budgets in addressing societal...
Tensions escalated when Sen. Ningi began to criticise the ministry’s renewed hope housing scheme, questioning its visibility and transparency. The budget defence session of the senate committee on housing and urban development descended into heated bickering on Wednesday as senators clashed over the seeming repeated allocations for mass housing. Tensions escalated when Sen. Abdul Ningi (PDP, Bauchi central) began to criticise the ministry’s renewed hope housing scheme, questioning its visibility and transparency. Earlier, the...
Given the critical role the information sector plays in advancing the agenda of President Tinubu, Sen. Eze noted that the committee unanimously agreed to return the proposed budget. The senate committee on information and national orientation has rejected the N8.9 billion budget proposal for the federal ministry of information and national orientation in the 2025 budget, deeming it grossly inadequate. Consequently, the committee has summoned the minister of budget and economic planning, Sen. Atiku Bagudu, for...
The board remitted N4 billion to the Consolidated Revenue Fund in 2024 whereas it received N6 billion from the Federal Government. Lawmakers have raised concerns over the financial operations of the Joint Admissions and Matriculation Board (JAMB), questioning its fiscal prudence and the logic of government funding for a revenue-generating agency. These concerns were raised on Monday during an interactive session of the joint committee of the Senate and House of Representatives chaired by Sen....
While efforts are underway to stabilise the grid, Adelabu admitted that the collapse can only be managed until necessary funds are provided. Minister of power, Bayo Adelabu has painted a mixed picture of progress and persistent challenges in Nigeria’s power sector detailing the complexities surrounding the national grid collapses experienced in 2024, funding shortfalls, and the pressing need for investment to achieve sustainable energy security. Adelabu said these when he appeared before the senate committee...
The national assembly has criticised Nigeria’s border closure policy, citing its ineffectiveness in curbing smuggling and insecurity, and urged the ministry of industry, trade, and investment to liaise with the presidency for a practical solution. The National Assembly, through its joint committee on Industry, Trade, and Investment, has criticised Nigeria’s border closure policy, describing it as ineffective in addressing cross-border banditry and smuggling, particularly in states bordering Niger and Chad. This criticism came to the...
Edun confirmed that there are pending warrants awaiting payment for capital projects, but funding remains a key challenge. The National Assembly has raised serious concerns about the significant imbalance between recurrent and capital expenditures and the low level of fund releases for capital projects for Ministries, Departments and Agencies (MDAs) in the 2024 national budget, with both chambers urging for more focus on capital projects that directly benefit the Nigerian populace. This was disclosed Wednesday...
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