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,...
Speaker Abbas has praised President Tinubu’s bold steps to reposition Nigeria saying that it has in no doubt disrupted the status quo in the country The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has praised President Bola Tinubu’s administration saying that the bold steps taken by the president to reposition the Nigerian economy have no doubt disrupted the status quo in the country, sparking strong resistance from vested interests. Speaking during the presentation...
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...
In the 2025 budget estimates, N4.91 trillion was allocated to defence, N4.06 trillion to infrastructure while education and health got N3.52 trillion and N2.48 trillion respectively. President Bola Tinubu has allocated a lion share of N4.91 trillion to defence while the education sector will gulp N3.52 trillion in the 2025 fiscal year. These were revealed during the president’s 2025 budget presentation to a joint session of the national assembly Wednesday. Tagged, “the restoration budget: securing peace,...
The late submission and inevitably delayed passage of the 2025 national budget resets the annual January-December fiscal circle achieved in the last five years President Bola Tinubu is expected to present the 2025 budget before the national assembly today. This is less than two weeks before the emd of 2024. By implication, the January-December fiscal circle achieved and sustained previously will be distorted. This is because parliament is not likely to consider and pass the...
For over five decades, Nigeria has relied on its oil and gas sector for its major foreign exchange and revenue earnings. Environmental degradation, loss of livelihoods, strange diseases, lack of portable water etc unfortunately instead became the lot of the citizens in the host communities who wondered what went wrong in the midst of so much prospects, hopes and now, dashed dreams. Since the discovery of Oil in 1956, Nigeria has not transmuted to the...
The Senate, at today’s plenary, passed the 2024 Nigerian Insurance Industry Reform Bill to consolidate existing insurance laws and reduce reinsurance capital requirements, while also addressing insecurity by proposing laws to limit cross-border cattle movement and advocating for modern ranches to curb farmer-herder conflicts. Additionally, the senate upheld the dismissal of a petitioner over job racketeering allegations and rejected a separate wrongful termination petition, emphasizing adherence to due process and existing regulations. Senate passes insurance...
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