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...
The senate will hold an “open day” this Thursday, providing a platform for a diverse group of stakeholders, including heads of MDAs to offer their input on the budget. The senate has announced plans to suspend plenary sessions for a two-week period upon its resumption on January 14, 2025. This is in line with the National Assembly plans to begin the committee-level review of the proposed N49.7 trillion 2025 budget. Additionally, the senate will hold...
The senate passed the 2025 budget for second reading and adjourned for Christmas break until January 14, 2025 Senate adjourns for Christmas break The senate has adjourned plenary until January 14, 2025. The announcement was made by the President of the Senate, Godswill Akpabio during Thursday’s plenary, shortly after the passage of the second reading of the 2025 budget. In his closing remarks, Akpabio extended holiday wishes to his colleagues, the Speaker and leadership of...
