Over time, as society evolves and development aspirations expand, there arises a need to establish or amend rules to fit current situations and values. The constitution of the country is not immune from such amendments
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The National Assembly had initially fixed 23rd January 2024 for its resumption after adjourning following approval of the 2024 Budget in December The National Assembly has postponed the resumption of its plenary session, originally scheduled for January 23, 2024 to the 30th of January, 2024. This was contained in a statement addressed to members of the House of Representatives by the Clerk to the House of Representatives, Yahaya Danzaria. Recall that the National Assembly had...
As 2024 commences, the financial tension in the air is palpable. From the lingering effects of fuel subsidy removal, steady rise in inflation and prices of essential commodities, unabating corrupt practices, and poor public finance management, a lot is hinged on the successful implementation of the 2024 budget. To achieve this, the GIFT Project advocates effective citizen engagement, pragmatic parliamentary oversight, and urgent fiscal reforms to stir things in the right direction. The ceremonies leading...
The National Assembly has passed N28.5 trillion as the budget for the 2024 fiscal year, a significant increase from what was proposed. A review of the breakdown of the budget shows that some of the ministries had a significant increase in their budgetary allocation, and others slightly. On Saturday, December 30, 2023, the National Assembly passed N28.5 trillion as the budget for the 2024 fiscal year, 30 days after President Bola Tinubu presented the...
The late House of Representatives Speaker, Ghali Umar Na’Abba, will be remembered for being fierce, fearless, and forthright A former Speaker of the House of Representatives, Ghali Umar Na’Abba, is dead. Na’Abba died at the age of 65 in Abuja. Mr Ahmed Tijjani Lawal, an aide to the deceased, disclosed this to the News Agency of Nigeria (NAN). The second Speaker of the House of Representatives in the current 4th Republic died in the wee...
Despite marginal and sometimes substantial differences between budgeted oil price benchmark and average sales every year, the excess crude account is constantly depleting Every year fiscal benchmarks are set by the Nigerian government, usually for the following budget year and for the succeeding three years in the case of the Medium-Term Framework (MTEF). The benchmarks cover a variety of elements ranging from the anticipated naira to dollar exchange rate, crude oil production in barrels per...
The joint committee also suggested that the president, who is the substantive minister of petroleum, is also expected to appear to defend propositions in the 2024 budget  The National Assembly joint committee on Petroleum Resources has summoned the minister of state for petroleum resources, Sen. Heineken Lokpobiri and minister of state for gas, Mr. Ekperikpe Ekpo, to appear before it on Monday, December 18, 2023. The committee members reached the decision on Thursday, December 14, 2023,...
The controversy over the content of the budget box laid before a joint session of the National Assembly by President Tinubu was stoked by a combination of ignorance, misstep, and mischief Public discourse, especially on social media, was inundated with the controversy over the alleged empty budget box presented to the National Assembly by President Bola Ahmed Tinubu on Wednesday, 29 November 2023, during a joint session of the Senate and House of Representatives. The...
President Tinubu says his first (2024) budget promises to be the foundation for the reforms he plans to take Nigeria to greatness In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is...
The annual budget determines how our lives as citizens are impacted by the government, which, acting on our behalf, allocates resources from our commonwealth to provide services for our benefit Do you know that the budget is a law? And like all laws passed by the legislature, it follows the same stages that a bill travels to become law. Since it is one of the most critical laws enacted annually in the country, is it...