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2025 Budget : Senate Okays N54.9tri ….N4.9 trillion was generated internally  .. Capital Expenditure takes lion share of N23,96trillion

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Senate chamber
By  George Mgbeleke,Abuja
The Senate on Thursday authorized the issuance  of the sum of N45.9trillion from the consolidated revenue to service the 2025  fiscal year.
Recall that President Bola Ahmed Tinubu on December 18,2024 presented the sum of N49.7trillion to the joint session of the National Assembly for legislative consideration and approval.
The Senate on December 19, 2024 after subjecting the Bill to second reading after allowing members to debate on the appropriation Bill committed same to sub-committees for budget defence

President Bola Ahmed Tinubu

Senate committee on Appropriation  chaired by Senator Solomon Adeola presented his committee report to the Senate for consideration at the committee on Supply chaired the President of the Senate, Godswill Akpabio and after clause by clause consideration of the Appropriation Bill the upper chamber resolved as follows:
The highlights of the 2025 budget estimate are as follows:
a I. Aggregate Expenditure-
 N54,990,165,355,396 I.
 b.Statutory Transfers-N 3,645,761 ,358,925
 lll. Recurrent Expenditure- N13,064,009,682,673
 IV. Capital Expenditure-N23,963,251 ,624,250
V. Debt Servicing -N14,317,142,689,548 Vi.
 Fiscal Deficit -N13.08 Trillion
Vil. Deficit/GDP 1.52%
Giving insight into revenue sources that beefed up the internally generated revenue that jerked up 2025 budget to N54.9trillion, Senator Adeola said,”
After the series of meetings held, the Committee on Finance in conjunction with our Committee sourced additional revenue from some revenue generating
Agencies, detailed below:
i. Government-Owned Enterprises (GOEs)
N1,823, 879, 970, 637
ii. Federal Inland Revenue Service (FIRS): #41,497,600,000,000 (Federal Government’s 52% share of the increase in revenue from N22.1 trillion to N825.1
trillion after the deduction of cost of collection).
Nigerian Customs Service (NCS): &41,209,000,000,000 (Federal Government’s share of the increase in
revenue from &6.5 trillion to 9.0 trillion after the deduction of cost of collection).
The total sum of N4,530,479,637 additional revenue realised from the above effort was communicated to
the Executive who applied the funds to address critical challenges and advance the Governments development as follows:
Solid Minerals Sector — $41 trillion only. Re Capitalization of the Bank of Agriculture (BoA) 41.5 trillion only. R-Capitalization of Bank of Industry (Bol) 500 billion only: and iv. Critical Infrastructure Projects (RHID Fund) – 1.5 trillion only to cater for: a.lrigation Development (Through River Basin Development Authorities): 4380 billion
b. Transportation Infrastructure (roads & Rail): &700 billion (8300 Billion for construction & rehabilitation of critical roads and 4400 billion for light rail network development in urban centres. c.Border Communities also got the sum of: 50billion.
d. Military Barracks Accommodation got the sum of #4250 billion.
e. Military Aviation &4120 billion.
The Joint Committee also discussed issues arising from excess of the details of the budget over the bill to the tune of 270 billion.
Shading light on the break down of the 4.5 trillion revenue that was sourced along the line Senator Adeola explained that President Tinubu in his  usual tradition,” took proactive steps to address the issue of suspension of the United States Agency that you said, as you are all aware, that the government of Donald Trump recently suspended any further action of this particular donor agency which primarily deals with donation to the health sector.
“And by that similar action, that shows that patients, especially in Nigeria, who are beneficiary of these donor agencies, who are suffering from tuberculosis, from HIV, from polio, and also malaria, which donor agencies have been giving out all these drugs and everything, there will be no supplies.
 “So in his proactive step, the president made available the sum of $200 million, which is equivalent to around N300 billion for this particular purpose, so that we can also take a proactive measure, because countries like Uganda and other African nations, who solely depend on these said agencies that have been suspended, is now suffering from these actions of President Donald Trump.
 “And aside that, other agencies of the government, including the INEC, the EFCC, the NFIU, the DGSS, the SSS, the Ministry of Petroleum Resources, the NJC, and other important agencies of the government that came up with genuine arguments for additional funding, were duly considered.
“All these and more are what was done in the current budget that was passed. And if you also observe that this year, there is a quantum leap in the capital expenditure.”
He noted that prior to the 4.9 trillion, added to initial  N45.9trillion presented by President Tinubu, National Assembly in the course of appropriation added N7 trillion naira to the existing 49.7 and that was as a result of one increase in revenue bringing the budget to N54.9trllion for 2025 fiscal year.

Business & Economy

Slaboh Lauds NCDMB For Skill Aquisition of Ex – Agitators, – Participants Extol Leadership Style of National Chairman Third phase,PAP

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Beneficiaries of the skill aquisition training on digital analysis and marketing

 

By David Owei,Bayelsa

The National Chairman of the Third phase Ex- Agitators of the presidential Amnesty program, PAP, General Elaye Dollar Slaboh had given kudos to the Management of the Nigerian Content and Monitoring Board ( NCDMB ) for the privilege it gave by selecting sixteen delegates to participate in the five day youth empowerment on high selling self reliance skill digital marketing and data analysis program organized for Niger Delta Youths, just as he pleaded for more of such programs for it’s members which he has been advocating as such trainings will go along way to augument their monthly stipends.

The initiative was held in collaboration with the leadership of the PAP under General Elaye Dollar Slaboh,which has equipped participants with valuable skills to navigate today’s digital economy.

An elated Slaboh, stated this while welcoming the beneficiaries to his office, at Azikoro and commended them for being worthy ambassadors that conducted themselves orderly without misbehaving and for their exemplary conduct throughout the duration of the training and urged them to put to use the knowledge they received.

According to him, during several engagements with corporate bodies he had always agitated for for the training and retraining of the ex – Agitators under his leadership and applauded NCDMB and called on other corporate bodies to emulate NCDMB in providing opportunities for Niger Delta Youths to enable them become self reliance and shun youth restiveness for peace to reign and attract investors to the region.

He appealed to those not selected to be patient as they would be opportune in subsequent training programs which his leadership assured them to provide whenever the opportunity beckons and also warned them against selling their starter pack ( laptobs)

” To those not selected , be patient, as there are other trainings in the offing , as everyone can’t benefit at the same time”

Am proud to say members represented us very well as there was no negative reports of misbehaviour and misconduct about you throughout the five day training”

Speaking in their separate interviews, the participants who were randomly selected by the National Chairman, third phase , presidential Amnesty program, General Elaye Dollar Slaboh, had applauded and commended his leadership style for considering them worthy to be Beneficiaries of the skill aquisition training on digital analysis and marketing .

According to Alex Gift, he said he felt excited and considered it a rare privilege to be randomly selected by the national Chairman , Third phase of PAP , General Elaye Dollar Slaboh and prayed to God to continue to enlarge his coast, saying the knowledge he received about digital marketing and data analysis will equip him to advance the ever changing digital economy.

And being , gender friendly, Miss Stella said the training and knowledge was impactful and has increased her horizon on digital marketing and data analysis.

” With this training am now opportune by the exposure that my products can now be marketed globally instead of within the Niger Delta region ”
She poured Ecomiums on General Elaye Dollar Slaboh, for giving her this rare opportunity and wished him well in his current leadership position.

Also speaking , another participant who was overwhelmed by the opportunity given to him to participate in the program, Sammy Vincent, said he was very happy for being selected for the NCDMB five day skill aquisition programe on digital and data analysis for the opportunity impacted in him on the knowledge about graphic design and the gift of laptobs.

From Tonbara. W. Bai” Am so elated and lacked words to thank the National Chairman Third phase of PAP, General Elaye Dollar Slaboh and may God to bless and enlarge his coast”

He said he will not take this opportunity for granted and applauded the NCDMB management for it’s efforts in empowerment of Niger Delta Youths in the region.

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Business & Economy

Senate Approves Tinubu’s $21.5bn External Borrowing Plan

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Senate in session in the chamber

 

By George Mgbeleke

The Senate, on Tuesday approved an external borrowing plan of $21.5 billion for the 2025–2026 Medium Term Expenditure Framework (MTEF) designed to finance key projects in critical sectors including infrastructure, security, education, health, agriculture, and human capital development.

The Red chamber also approved a ¥15 billion Japanese loan, a €65 million grant, and additional domestic borrowing of ₦757 billion through federal bonds to offset pension arrears as of December 2023.The lawmakers further gave approval to an exec request to raise up to $2 billion through foreign-currency denominated instruments in the domestic market.

These approvals, which came on Tuesday, followed the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Aliyu Wamakko (APC-Sokoto), at plenary. Wamakko said the loan request was in line with the already approved Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2025/2026 budget cycle. According to him, him, the committee recommended the approval, as the borrowing plan is within the framework already passed by the National Assembly.

Chairman, Senate Committee on Appropriation, Senator Solomon Adeola (APC-Ogun) while supporting the motion srated that the loans were embedded in the 2025 Appropriation Act, adding that with the approval, all revenue sources, including loans, were now in place to fund the budget.
Similarly. Chairman Senate Committee on Finance, Senator Sani Musa (APC-Niger) stressed that the loans would be disbursed over six years and assured that Nigeria was in a good position to utilise the loan and pay back as agreed with the creditors. Musa ruled out the fears in some quarters that Nigeria’s debt profile was becoming too burdensome, stressing that Nigeria had never defaulted on any of its liabilities.
However, Senator Abdul Ningi (PDP-Bauchi) raised concerns over the absence of repayment details and how the loans would directly impact constituents.
“We must tell Nigerians exactly how much is borrowed in their name and for what purpose,” Ningi said.
inclusiveness.

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Business & Economy

N- Power : Senate Intervention rekindles hope for beneficiaries on outstanding N81billion Allowance

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Deputy President of Senate, Barau Jibrin

 

The Senate Tuesday rekindled the hope of beneficiaries of N- Power programme across the country on payment of outstanding N81billion monthly allowance by the Federal
Government.

Intervention of the Senate came through its Deputy President, Senator Barau Jibrin who brokered understanding between the Federal Government , aggrieved beneficiaries of the scheme who are still being owned 2022, 2023 monthly allowances totalling N81billion and their counsel, Barrister Abba Hikima .

After about two hours tripartite meeting in his office , the Deputy President of the Senate told journalists that the beneficiaries being owed months of unpaid allowances which were inherited by the current administration , have agreed to stop their intended litigation against the federal government .

He said : ” The beneficiaries came here to the Senate to seek for my intervention. And then I called the Minister, and the Minister was very responsive.

“He came on board, and there was a fruitful discussion that led for them to understand that the Minister had already gone very far in making preparation for the money to be paid.

“So having gotten convinced that there is a clear intention on the part of government to get the money paid they now decided to back down and stay action on the legal route to get the money paid and I showed them that this is a government that is responsive and really up and doing in terms of making sure that nobody suffers in terms of getting what is due to them in line with the renewed hope agenda of President Bola Tinubu .

“Though the problem is inherited but the present government as clearly stated and assured by the Minister of State for Housing and Urban Development, is doing every thing possible to solve it with payment of allowances owed the beneficiaries”

Also explaining the outcome of the meeting , the Minister said intervention made by the Deputy President of the Senate , yielded positive results for parties concerned which are , the federal government and the beneficiaries of the N – Power programme .

” I want to first thank the Deputy Senate President for convening this meeting for us to treat the case that has been for years now, the issue of payment of the backlog of our end-power beneficiaries, which we are owing, or owing them.

“We acknowledge the fact that we are owing them, and we know we are owing them, but it was actually part of the 2022 and 2023 budget that was not paid to them, and because it was recurrent, it passes along with the year’s budget.

“There was no provision for it in 2024 and 2025, so we sought for it at the service-wide vote. We got approval, but it was late for last year, so we are working on the approval for this year to ensure that once we get the budget implementation for this year 2025, we have to find a way of making those payments to the beneficiaries.

“I think being a responsive government, we’re not denying the fact that we have that as part of the issue we need to resolve and it will surely be resolved before the year runs out “, he said

Confirming the stay of litigation due to the intervention, the counsel of the beneficiaries , Barrister Abba Hikima said : ” As explained by the Honorable Minister, the government is owing my clients about N81billion and he has given us his words that they are working on it and they are waiting for this year’s budget to begin to be implemented, and that as soon as the budget is being implemented, they can get access to their money.

“Although I’m their lawyer, but I really appreciate the effort of the Deputy Senate President who, despite the fact that he is not directly affected by this, took it upon himself to convene this meeting, as well as the Honorable Minister of State and as well as the Humanitarian Minister.

“They are all here and they have all given us their words, and we have taken them for it, and we are confident and hopeful that in the nearest future, within the year, definitely, this money is expected to be paid”.

The Chairman of the N- Power beneficiaries in Nigeria , Kehinde James thanked the Deputy President of the Senate for his intervention and the two ministers for their assurances .

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