Tag: 2025 Budget

2025 Budget: H/Reps query ministers over zero implementation 

Aminu Imam
H'Reps query ministers

The 10th House of Representatives on Wednesday summoned the Minister of Finance, Wale Edun, Minister of Budget and Economic Planning, Atiku Bagudu, and Chairman of the Nigerian Revenue Service (NRS), Zach Adedeji, over the zero implementation of the 2025 capital budget despite the country’s excess revenue. The session, chaired by Abubakar Bichi, Chairman of the House Committee on Appropriation, was convened to probe why approved funds for capital projects remained unutilized, grounding projects across sectors and agencies. Bichi said: “We have decided to engage the economic team of the President…

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BudgIT uncovers ₦6.93tr worth of inserted projects in 2025 Budget

Aminu Imam
BudgIT uncovers

BudgIT has revealed that the 10th National Assembly inserted 11,122 projects worth ₦6.93 trillion into the 2025 federal budget, raising concerns over fiscal abuse and political manipulation.  According to the civic tech group many of the projects lack justification and divert funds from national priorities. Key flagged insertions include: 238 projects above ₦5 billion, 1,477 streetlight projects costing ₦393.29 billion, and ₦6.74 billion for traditional ruler “empowerment”. BudgIT urged President Tinubu to reform the budget process and align spending with the national development plan.

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NASS passes increased 2025 Budget of ₦54.9tr into law

Aminu Imam
NASS passes Budget2

The 10th National Assembly has passed the ₦54.9 trillion Budget for the 2025 financial year, increasing the initial proposal by ₦700 billion from ₦54.2 trillion. The budget breakdown includes: ₦3.6 trillion for statutory transfers; ₦14.3 trillion for debt service; ₦13.6 trillion for Recurrent (non-debt) expenditure, and ₦23.9 trillion for Capital expenditure. President Bola Tinubu had earlier written to the 10th National Assembly, requesting an increase in the initial budget proposal from ₦49.7 trillion to ₦54.2 trillion. He said the review was due to additional revenue generated by key government agencies.…

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CSJ identifies 254 ‘frivolous’ items in 2025 Budget

Aminu Imam
CSJ identifies Budget

A non-governmental advocacy group, the Centre for Social Justice, (CSJ), has identified 254 wasteful and inappropriate expenditures in the Federal Government’s proposed 2025 Budget, currently under review at the 10th National Assembly. The budget, totaling ₦49.74 trillion, includes a projected ₦13.08 trillion deficit and ₦16.33 trillion for debt servicing. Critics argue that excessive spending on vehicles, office supplies, and unrelated projects undermines efforts to address Nigeria’s economic challenges, including high inflation and poverty. CSJ estimates that eliminating these frivolous expenses could save the country up to ₦954 billion. Among the…

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2025 Budget: NASS members allegedly  demand ₦480m from universities before approval 

Aminu Imam
NASS members on universities

An investigation has uncovered a bribery scheme involving Nigerian lawmakers allegedly demanding N8 million each from 60 federal universities to approve their 2025 Budget allocations.  According to the published investigative report, the extortion, coordinated by the Senate and House committees on tertiary education, involves threats of probes against non-compliant vice-chancellors. It said several University Heads have expressed frustration over the lawmakers’ aggressive tactics and escalating demands. This comes amidst chronic underfunding of Nigerian universities, with institutions struggling to maintain operations due to insufficient government support. The report revealed that lawmakers…

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FEC approves Tinubu’s 2025 Budget proposal

Aminu Imam
FEC approves

The Federal Executive Council (FEC) has approved President Bola Tinubu’s 2025 budget proposal. Minister of Budget and Economic Planning, Atiku Bagudu, who disclosed this to State House Correspondents after tge Council meeting in Aso Rock yesterday, also revealed that the proposal was based on an oil price benchmark of $75 per barrel. The Minister said, “Today, the Federal Executive Council approved the budget proposals for 2025 with amendments which Mr. President directed following a presentation to the Federal Executive Council led by the Director-General of the Budget Office, Tanimu Yakubu”.…

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FG to borrow N13.8trillion to fund 2025 Budget

Aminu Imam
FG to borrow

The Federal Government is to source N13.8trillion of the proposed N47.9 trillion 2025 Budget through borrowing. Recall that the Federal Executive Council (FEC), on Thursday, approved the budget proposal and borrowing of N13.8 trillion. Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this while briefing State House correspondents, at the end of the Council meeting, presided over by President Bola Tinubu at the Presidential Villa, Abuja. The approval is part of the Medium-Term Expenditure Framework, (MTEF), and Fiscal Strategy Paper, for 2025-2027, by the Fiscal Responsibility Act of 2007,…

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FEC approves ?48 trillion Budget for 2025

Aminu Imam
FEC approves 2025 Budget

The Federal Executive Council (FEC), yesterday, approved a proposed Budget of ?47.9 trillion for 2025 fiscal year. Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this while briefing State House journalists after the FEC meeting presided over by President Bola Tinubu, yesterday. This was part of the Medium-Term Expenditure Framework (MTEF) for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007. The FEC granted approved its submission to the National Assembly as required by the Act. The framework projected Gross Domestic Product (GDP) growth rate…

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