Following a robust debate by senators present, the President of the Senate, Godswill Akpabio referred the budget to the committee on Appropriation to report back in four weeks. The senate has passed for second reading the 2024 Appropriation Bill of ₦49.7 trillion which was presented before the joint session of the Senate and House of Representatives by President Bola Tinubu on Wednesday, December 18, 2024. The 2025 budget presented by Tinubu is themed “Securing Peace,...
Below is the verbatim report of what President Bola Tinubu said during his presentation of the 2025 budget at the joint session of the national assembly on Wednesday PROTOCOLS: 1. In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 11th National Assembly. 2. On...
Bamidele explained that the extension was essential to enable the federal government to complete ongoing projects outlined in the 2024 budget. The senate has approved an extension of the implementation of the capital aspect of the 2024 budget, now set to run until June 30, 2025. This decision followed a request from President Bola Tinubu on Wednesday, urging lawmakers to approve the extension to ensure that the government can fully utilise all components of the...
Senate President Akpabio eulogised President Tinubu in superlative terms during the latter’s 2025 budget presentation to a joint session of the national assembly President of the Senate, Sen. Godswill Akpabio, has praised President Bola Tinubu in superlative terms and trumpted the gains of his administration, including on security. Making a welcome remark during the formal presentation of the 2025 Appropriation Bill, Akpabio said no community in Nigeria is threatened by terrorism under Tinubu. He also...
Looking forward, the President presented the 2025 budget proposal as a transformative plan designed to revamp Nigeria’s economy. President Bola Ahmed Tinubu has presented the 2025 budget to a joint session of the National Assembly, themed “securing peace, rebuilding prosperity.” The budget was presented to a joint session of the National Assembly on Wednesday, December 18, 2024. In his address to the National Assembly, President Tinubu provided a comprehensive overview of the current state...
As required by the Constitution, Tinubu is expected to present the 2025 appropriation bill before the National Assembly. President Bola Ahmed Tinubu has signalled his readiness to present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, 17 December, 2024 by 10:30 a.m. This was made known by the President of the Senate, Godswill Akpabio during Thursday’s plenary. Akpabio said, “His Excellency, the President of Nigeria has indicated his interest...
The confirmation of Lieutenant-General Olufemi Olatubosun Oluyede for appointment as Chief of Army Staff and the debate and passage of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) were the issues addressed in the senate Tuesday. Senate confirms Oluyede as COAS The senate has confirmed the nomination of Lieutenant-General Olufemi Olatubosun Oluyede for appointment as Chief of Army Staff (COAS). The confirmation followed the consideration of reports from the committee on Army...
While some agencies have defended their partnership agreements as necessary for attracting investment, the national assembly says the country is being cheated. Nigeria has long grappled with the challenge of revenue mobilisation, a critical factor for achieving fiscal sustainability. Reports have it that critical agencies such as the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Liquefied Natural Gas (NLNG), and Nigerian Immigration Services (NIS) engage in Public-Private-Partnerships (PPPs) and Joint Venture Agreements (JVAs) that disproportionately...
The senate approved the budget benchmarks with a total spending of ₦47.9 trillion and a new borrowing plan of ₦9.22 trillion. The senate has approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) ahead of the presentation of the 2025 Budget by President Bola Tinubu. This is as it approved the expenditure framework with a total spending of ₦47.9 trillion and a new borrowing plan of ₦9.22 trillion which includes both...
According to the 2023 budget performance report the revenue of N448.1 billion against a projected budget of N559.080 billion, with total recurrent expenditure at N67.072 billion and capital expenditure at N3.6 billion. The Senate has approved the sum of N549.6 billion for the Nigerian Communications Commission (NCC) budget for 2024. This was announced by a joint Senate and House of Representatives Committee on Communications chaired by Senator Ikra Bilbis (PDP, Zamfara Central). Following a motion...
