By George Mgbeleke

The Senate Tuesday through its committee on North Central Development Commission ( NCDC), described the N2.9billion monthly allocation being given to the commission as grossly inadequate when compared to N140billion budget size earmarked for the commission in 2026.

Speaking to journalists after interactive session between the committee and management of the commission , Senator Titus Zam in his capacity as Committee Chairman , said the N2.9billion monthly allocation being given to NCDC will at the end of the year not up to half of projected budgetary allocation for it .

He posited that the N2.9billion monthly allocation from the N140billion budgetary appropriation, is a temporary package which would be improved upon .

” If you give someone that has a budget of 140 billion, N2.9 billion per month, in 12 months, it won’t be up to half of the entire budgetary sum .

“I suppose that is just a temporary package. When the commission finally comes to fruition, much more funds will be released. So we thank Mr. President, we thank the executive for dropping something now but look forward for more “, he said .

He however added that the Senate Committee will see to judicious spending of the little allocation being collected by the commission now by guiding it on areas that should be focused on .

” North Central is mostly an agricultural land. We have arable land, we have good rainfall, we have vegetation, there’s policy for agriculture. We need the department of NCDC to take agriculture very seriously.

“We also have a challenge of insecurity. The commission is advised to support the security forces and state government to complement their efforts towards mitigating the tides of insecurity within the region.

“We also ask them to take rural development very seriously because we are also rural in nature”, he said .

By George Mgbeleke

Visibly angry at the absence of some key revenue earning of the federal government at Senate public hearing by Senate Committee on Finance on Monday,the panel threatened heads of the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Industrial Training Fund ( ITF), Federal Medical Centre ( FMC) Jabi etc , with severe sanctions for failing to appear before it .

This is as Comptroller – General of Nigeria Customs Service ( NCS), Bashir Adewale Adeniyi has declared that costs of Import Duty Exemption Certificates ( IDEC) approvals on some imported goods and equipments, which commenced in March 2020, rose to N34trillion in 2025.

The Customs CG at the investigative session the committee had with some revenue generating agencies on Monday , said policies of government at different times affect revenue generating capacity of Customs , positively or negatively.

According to him , Customs as a leading revenue generating agency , would have generated far above , what it did in the past years ,if not for some government policies and other extraneous factors that inhibited it from doing so

He specifically informed the committee that Import Duty Exemption Certificates ( IDEC) on some goods and equipments introduced in March 2020 , is one of such policies inhibiting Customs revenue generation .

“IDEC approvals reached about ₦34 trillion in 2025 60% of which as rightly done by government related to military hardware procurements which attracted duty exemptions because of Nigeria’s prevailing security challenges.

” Other government-backed waivers, included
Importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, Healthcare equipment and medical supplies; Industrial machinery and manufacturing inputs; and
Food import intervention programmes”, he said .

He however explained that fiscal policy should not be viewed solely from the perspective of revenue generation but also in terms of achieving broader economic and social objectives but suggested that government should establish stronger monitoring mechanisms to assess whether beneficiaries of duty waivers were delivering the intended economic benefits, such as lower prices, increased production and improved healthcare access.

Earlier in his submission , he said out of the N11. 04trillion revenue projected for 2026, N4.5trillion was generated by 30th of June , leaving balance of about N7trillion left to meet up with the set target for the fiscal year .

However, Bello Gulmare who represented Fiscal Responsibility Commission ( FRC) as Deputy Director , Monitoring &:Evaluation , alleged that Customs as at 2019, has N8.9billion liability of non – remittance of operating surplus into the Consolidated Revenue Fund ( CFR) , which was vehemently kicked against by Customs .

Similar liability on non remittance of operational surplus was made to the Corporate Affairs Commission ( CAC) , totalling N13.9billion from 2023 to 2025 which the Registrar – General of CAC , Hussaini Ishaq Magaji said was being upset gradually .

The committee chaired by Senator Sani Musa ( Niger East), however directed that CAC, the FRC and the committee should hold a meeting to reconcile the details in order to ascertain the exact outstanding balances.

” Detailed report on outcome of the planned meeting , should be ready within the next two weeks for another interface with CAC .

” Heads of agencies like NCAA , ITF , SMEDAN , FMC Jabi etc , who failed to physically attend today’s session , should unfailingly make themselves available at next sitting or risk severe sanction through invocation of relevant section of our rules against them”, he warned .

By George Mgbeleke

Governor of Rivers State, His Excellency, Sir Siminalayi Fubara on Friday, presented the 2026 Budget estimates of One Trillion, Eight Hundred and Fifty-four Billion, Two Hundred and Forty-eight Million, Seven Hundred and Thirty-four Thousand, Four Hundred and Seventy-five Naira, Seventy-six Kobo (N1,854,248,734,475.76) only.

The budget, titled “Budget of Resilience for Growth and Development”, Governor Fubara said, is the result of considerable public participation in a shared vision for building an economically resilient, thriving, and prosperous Rivers State.

According to him, the proposal has a capital expenditure component of One Trillion, Four Hundred and Five Billion, Two Hundred and Seventy Million, Eight Hundred and Seventeen Thousand, Eight Hundred and Sixty-Nine Naira, thirty-six kobo (N1,405,270,817,869.36) only.

Similarly, the sum of Four Hundred and Thirteen Billion, One Hundred and Nine Million, Three Hundred and Ninety-six Thousand, Seven Hundred and Five Naira, Seventy Kobo (N413,109, 396,705.70) only has been allocated to Recurrent Expenditure.

The Governor while laying the budget estimates before the Rivers State House of Assembly in Port Harcourt, said the proposed total operating revenue for 2026 is projected to increase by 24.49 per cent over the 2025 adjusted budget projections, due to possible increases in returns from FAAC, Derivation funds, and internally generated revenue, as the national economic outlook continues to show positive growth.

Governor Fubara says that in addition to aligning with the state’s fiscal realities, the 2026 budget prioritises the core objectives of building a secure, prosperous, and resilient State characterised by inclusive economic growth, sustainable development, and improved standards of living for all.

According to him, the primary priorities for the 2026 financial year include economic growth, human capital development, socio-economic infrastructure, and social investments.

He noted that despite the challenges his administration had faced, the machinery of governance has continued to function seamlessly and the State has made significant progress in key sectors such as road infrastructure, human capital development, as well as in the security of lives and property.

“Most significantly, our State has remained fiscally stable, thanks to our commitment to fiscal responsibility, prudence, and accountability in managing public funds.

“We do not tolerate mismanagement at any level and have wisely utilised public funds to provide services, attract investment, create jobs, and offer socio-economic opportunities for our people,” he said.

Some of the key sectoral allocations include: Works and Infrastructure – N533, 321,002,523,22; Educational Development -N315,000,000,000; Healthcare Delivery- N105, 429,927,122.82; Power – N15, 000,000,000.00; Agriculture – N19, 258,772,080.79; Sports -7,975,000,000.00 and Youths Development- N7,000,000,000.00. Others include the Rivers State House of Assembly- N41, 439,535,629.10; Rivers State Judiciary-N30, 000,000,000.00; Women Affairs- N6, 503,645,900.5; Chieftaincy and Community Development- N8, 501,000,000.00 and Environmental and Sustainable Development – N6, 605,571,177.59.

The 2026 budget proposal, Governor Fubara said, reflects the needs and aspirations of the people – a budget that will deliver for all residents of Rivers State.

“At the core of this budget is our commitment to infrastructure development – including new investments, the completion of ongoing road projects, and the maintenance of existing roads and bridges.

“We have also allocated an exceptionally large budget to education, aiming to reshape the future of our State’s education systems to achieve better outcomes.

“Mr Speaker, the 2026 budget is not just about allocating funds to specific socio-economic sectors. Instead, it is a people-centred budget that acts as a blueprint for progress and service delivery, outlining a vision for a better future. It will bring tangible benefits to every ward, local government area, and resident.

“As a government, we remain committed to getting the essentials right and building a state where all residents, regardless of background, receive the services they deserve.

“We will ensure every kobo is spent wisely to deliver services, attract investment, create jobs, and provide opportunities for our people to flourish,” he said.

Governor Fubara urged all members of the Rivers State House of Assembly, regardless of political affiliation, to support and approve the budget in the spirit of the shared responsibility to accelerate development and recover as much lost ground as possible.