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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

Hajj: CSO urges enlightenment for Nigerian pilgrims on currency denominations

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Central Bank of Nigeria (CBN)

 

By Abdul-Ganiyy Akanbi,Abuja

A faith-based registered Civil Society Organization, CSO, that reports and advocates for workable Hajj policies, the Independent Hajj Reporters, IHR, has called on the States’ Muslim Pilgrims Welfare Boards, SMPWBs to conduct a special enlightenment programme to intending pilgrims on Saudi Arabian currency denominations.

The group, in a statement signed and released on Friday by its national coordinator Ibrahim Muhammad, said: “Now that the Central Bank of Nigeria, CBN has approved the payment of 2025 Hajj BTA via cash payment in US dollars, we call on States Muslim Pilgrims Welfare Boards, agencies and Commission to organize a special enlightenment program to educate Nigerian pilgrims on currency denominations especially on the exchange rates between US dollars and Saudi Riyals.”

It added: “Most of the Nigerian pilgrims are not conversant with foreign currencies especially US dollars and Saudi Riyals, and can hardly identify the value of each denomination unless they are guided during hajj, where hundreds of thousands of pilgrims engage in financial transactions.

“Given the above, Nigerian pilgrims should also be shown the Saudi Riyals currency denomination so that they can be able to identify such whenever they need to change US dollars to Saudi Riyals or make a purchase using either of the two currency denominations.

“This call is important due to past experiences where some dubious Saudi-based individuals shortchanged our dear pilgrims whenever they make purchases or try to convert their BTA to US dollars.”

IHR warned that Nigerian female pilgrims who patronize unregulated dental services to change their teeth as soon as they arrive in Madinah are more vulnerable to being shortchanged.

The group also pleaded with airlines to use the onboard educational system to educate pilgrims on the same subject as a way of corporate social responsibility to help mitigate the risks of financial losses on the part of intending pilgrims.

“Understanding denomination in today’s currency circulation is crucial as it serves as the foundation of all monetary transactions worldwide. It will enable pilgrims to comprehend the value of their BTA.

“According to the Central Bank of Saudi Arabia, SAMA, the most-exchanged foreign currencies during Hajj are the US dollar, the euro, the Singapore dollar, the Indian rupee, the Indonesian rupiah, the Emirati dirham and the Malaysian ringgi,” IHR stated.

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Business & Economy

BOSG. trains 150 Almajirai in vocational skills

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Gov Babagana Zullum of Borno state presents donations to recipients
By Our Reporter
In a bid to tackle unemployment in the state,Borno state government has trained and  presented working tools to 150 almajirai students trained in vocational skills by his administration..

Recipients at the Almajirai Vocational center in Borno state

Addressing Graduates of vocational and skill acquisition at the  graduation ceremony  of the Almajirus, held at the Borno state Vocational Enterprises,the state governor, Alhaji Babagana Zullum emphasized  that his administration would continue to foster opportunities for the almajiri learners to secure a brighter future.
The training covered a variety of trades, including electrical installation and repair work, solar installation and repair work, leatherwork, welding, carpentry and building construction..
The initiative also includes cash support to enable beneficiaries to start their trades and contribute to the society’s development.
It also seeks to enhance individual capabilities, uplift communities and provide almajirai with sustainable pathways to economic independence.
“As the Governor of Borno State, I assure you that our Government remains fully committed to supporting the Sangaya Islamic education. We will continue to invest in Sangaya educational resources to ensure every learner can access quality teaching and learning essentials,” he stated.
Zulum, however, expressed concern about the rising cases of molestation of children in the guise of teaching Islamic education.
 “I would like to take this opportunity to address a critical concern: the safety and well-being of our Sangaya learners. I stand firm in the commitment that the Borno State Government will not tolerate any form of molestation or violence, such as caning against any Almajiri. Every one of you, regardless of your background, deserves to be treated with respect and dignity.”, he added.
“Our commitment to safeguarding children extends beyond the Almajiri; it encompasses all children. We must work collectively to ensure our society embraces every child without prejudice. This pledge is not merely a statement; it is a call to action for every parent, educator, and community leader to safeguard the rights of our Sangaya learners.”, he further stress
Also speaking, the chairman of Borno Sangaya Board, Kalifa Aliyu Ahmad Abulfatahi, said the programme was unveiled in 2023 as part of Zulum’s resolve to address the challenges faced by almajiri children who are traditionally engaged in Islamic schooling and often lack access to formal education and opportunities.
Sheikh Kalifa noted that the training was organised in collaboration with the Universal Basic Education Board.
Earlier,the state Commissioner for Education, Science, Technology and Innovation, Engr Lawan Abba Wakilbe, who was represented by the Special Adviser in the ministry, Dr Bukar Tijjani, said that besides the  training, the ministry had partnered with colleges, including the National Board for Arabic and Islamic Studies, to provide certification for almajiri learners.
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Business & Economy

$530million Agro project: North East Caucus in NASS kicks against exclusion of zone …calls for immediate inclusion

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Chairman, North-East NASS Caucus,Danjuma Goje(left) with other member of NASS

By George Mgbeleke

The North East Caucus in the National Assembly on Thursday in Abuja , kicked against exclusion of the zone from the $530million Special Agro – Industrial Processing Zones ( SAPZ), being implemented by the Federal Government of Nigeria .

The Caucus which comprises the entire Senators and Honourable members of the House of Representatives from the Six States in the zone , declared that it was unacceptable to them that none of the states , is included and accordingly requested for inclusion by President Bola Tinubu .

Rising from an emergency meeting at the Senate wing of the National Assembly which lasted for about two hours , the caucus through its Chairman , Senator Muhammad Danjuma Goje , lamented that despite the North East been the first in Livestock and Agriculture generally in the country , none of its six states , is picked among the eight states in the country where the special project is being implemented .

 

Goje at the press briefing said : ” The emergency meeting held today by all the federal lawmakers from the North East geo – political Zone comprising Adamawa , Bauchi, Borno , Gombe, Taraba and Yobe States was convened sequel to the exclusion of our zone from the all-important programme of the Federal Government, the Special Agro-Industrial Processing Zones (SAPZ), despite the enormous potential of our zone in all spheres of agriculture and livestock of the Federal Republic of Nigeria.

“In view of the seriousness of this matter, the members of our caucus, even though the parliament is on recess, cut short their holidays to attend this meeting and express our reservations about our region’s exclusion from the programme.

 

“For a start, $530 million is to be provided by the Federal Government, the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD) for the SAPZ programme.

On Tuesday, April 8, 2025, His Excellency, the Vice President, Kashim Shettima, GCON, in Kaduna State, flagged off the construction of Phase 1 of the SAPZ as part of the present administration’s plan to industrialise Nigeria’s agricultural sector and create sustainable jobs.

Seven states and the Federal Capital Territory (FCT) have been selected for the programme. The North West and South West have two processing zones each – Kaduna, Kano, Ogun, and Oyo states. The South South, South East and North Central have one processing zone each.

“Despite its enormous agricultural potential, the North East is conspicuously missing from the list of states allocated the processing zones.

” SAPZs aim to transform Nigeria’s agriculture landscape through innovation, private-sector investments, and strategic public partnerships.
The zones are designed to create agro-industrial hubs that integrate farmers with processors, reduce post-harvest losses and expand rural economic opportunities.

“Geographically, the North East is the largest geopolitical zone in the nation, covering nearly one-third of Nigeria’s total area of 272,451 km2 (105,194sq mi). Our potential in all aspects of the agricultural sector cannot be overemphasised.

“At the end of the meeting, we resolved as follows: (i) Lament the exclusion of the North East Geopolitical Zone from the processing zones despite its enormous agricultural potential cutting across all sector value chains.

(ii) Appeal for the immediate inclusion of the North East Geo-political Zone in the Special Agro-Industrial Processing Zones (SAPZ). This is not only for fairness and inclusivity but for the actualisation of the lofty ideals of the present administration to industrialise Nigeria’s agricultural sector and create sustainable jobs in the country.

(iii)Commend the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, for making this programme a reality.

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