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FG Reiterates Commitment To Prudently Utilised Proposed N6.2trn Additional Budgetary Expenditure

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2 years ago

July 23, 2024

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By Gloria Ikibah

The Federal Government has promised to prudently utilisation of the proposed N6.2 trillion additional budgetary expenditure aimed at stimulating the economy through the implementation of various infrastructural projects including road, rail, water, irrigation and dam projects in the 2024 fiscal year.

Minister of Budget and National Planning, Senator Atiku Bagudu stated when he appeared before the House of Representatives’ Committee on Appropriation on Monday in Abuja.

In his opening address, Rep. Abubakar Bichi requested that the Minister gives detail on the Appropriation bill including the N3.2 trillion capital expenditure increase and N3 trillion recurrent expenditure for the newly proposed national minimum wage transmitted by Mr. President for accelerated consideration.

Rep. Bichi noted that there is need for Nigerians to be adequately informed of the details of the proposed N6.2 trillion budget proposal which is in addition to the N28.7 trillion Appropriation Act approved for the 2024 fiscal year.

Other lawmakers who applauded the ingenuity of the present administration towards addressing the infrastructural deficit, harped on the need to address issues of security.

In response the Minister stated that various efforts are being made to address issues bothering on security of lives across the country.

Some of the projects proposed in the budget proposal include: Lagos-Calabar, 1,000 kilometer road project for which the sum of N150 billion is required and Sokoto – Badagry road projects, as well as the rail project for which the Chinese government has provided 85 percent funding while Federal Government is yet to provide the 15 percent counterpart finance.

According to him, the Lagos-Calabar which is expected to start in three different sections, has commenced in Lagos, and the Calabar end, and one additional section Sokoto – Calabar.

He added that the Lagos-Calabar also covered the five South East States as well as Port Harcourt – Maiduguri rail lines.

The Minister further disclosed that the proposed budget was aimed at providing counterpart funding for rail projects that have literally stopped in the last year, including the longest among them – Port Harcourt Main Bridge, which will traverse Rivers, Imo, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Katsina, Bauchi, Gombe, Yobe, and other parts of the country.

Equally, the second project is Badagry -Tin Can Port, Lekki Port…while the third one is Lagos – Ibadan Standard Gauge, adding that the fourth one is Kano-Marada Standard Gauge, as well as funding for rolling stock that is required, for which the sum of N530 billion was requested is for these five rail projects.

Senator Bagudu also disclosed that the sum of N522 billion was also provided for water, irrigation and dam projects.

He explained that the proposed N3.2 trillion renewed hope infrastructural fund was “intended to provide equity contributions or counterpart contributions of the Federal Government projects designated as priority projects as well as critical projects which needed more appropriation so that they will not suffer neglect.”

He disclosed that the N3 trillion was intended to meet among other the newly proposed national minimum wage, for which Mr. President said he will soon send the bill to the National Assembly and subsequent adjustment.

While responding to question on the projected revenue for the year, Senator Bagudu assured that the projects encapsulated in the amendment to the 2024 Appropriation bill will not limit the revenue available for the implementation of the 2024 Appropriation Act.

“These projects, Mr. Chairman, have you said that these projects include rail projects.And this is to provide counterpart funding for rail projects that have literally stopped in the last years. The most, the longest among them is the Port Harcourt-Maiduguri which will traverse Rivers, Imo, Abia, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Kaduna, Bauch, Gombe, Yobe, and then terminating in borno state.

“Equally, the number, the second project is Badagry-Tin Can Port, Lekki Port, Ijeu-ode kajula. The third one is Lagos-Ibadan Standard Gauge. Then the fourth one is Kano-Maradi Standard Gauge.As well as funding for rolling stock that is required. This, the 530 billion requested is for these five rail projects.

“Equally, we have the National Highway Construction Projects which include additional funding, because this is already in the 2024 budget, for additional appropriation for the Lagos-Calabar Coastal Road, which is to tranverse Lagos-Ogun, Ondo, Delta, Bayelsa, Port Harcourt, Akwa Ibom , and Cross River, as well as Sokoto-Badagry, which is in Greenfield.

“Sokoto-Badagry has been on the National Development Plan of Nigeria since 1970. It was actually awarded in 1975, but not much progress was made, but because of the visionary and bold endeavor of Asiwaju Bola Tinubu, he has brought it back to life, and this is going to tranverse Lagos again, Ogun, Oyo, kwaraa, Niger, Kebbi and terminating in Sokoto State, as well as the Africa-Sahara Highway to traverse Benue, Kogi, Nasarawa, and Abuja.

“In addition to this, Mr. President and the team recognize that to support our agriculture and food security, we need to take bold measures on our water and irrigation and dam infrastructure.We have met with a number of investors, including the International Finance Corporation, who are saying, if you can put some money to do your dams, we will also put money to provide infrastructure.

In recognition of the fact that every year, when it rains, a lot of Nigeria is flooded, and soon thereafter, we are looking for water. So investment in water, irrigation, and dams has accelerated, because this is such that if we put some money, private capital would also come in to support our dream.So a sum of 522 billion is provided.

We have provided more for agriculture, and sorry, before then, we have provided, as part of the Renew Hope Agenda, 270 million for the expansion of the compressed natural gas infrastructure.

” The compressed natural gas is not just an alternative to premium motor spirit .It’s a lower-chip, lower source of energy that can help Nigeria maintain energy competitiveness, like countries like Egypt and Pakistan have done. So accelerating this expansion will ensure migration to the cheaper source of wealth, as well as ensuring that Nigeria remains energy competitive.

“Just as an example, the Ministry of Science and Innovation tested two vehicles, from Abuja to Ibadan, one on petroleum motor spirit, which consumed 42,000 Naira worth of oil, and one on CNG, which consumed 14,000 Naira worth of CNG.

“So in order to help Nigerian citizens with this, we need more finance. The other investment in agriculture and food security, as well as the additional water resources, are to support ongoing projects for which the funding commitments are not adequate, and they are critical to the delivery of our agriculture and food security objectives

On his part Chairman, House Committee on Media and Public Affairs, Rep. Akin Rotimi demanded for list of various achievements of the Tinubu’s administration.

While ruling, Rep. Bichi who applauded ongoing efforts toward rejuvenating the country’s socio-economic life, assure that necessary legislative measures will be worked out for the overall benefits of Nigerians.

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Osun Election: Accord Defeats APC in Omisore’s Polling Unit

Published

21 minutes ago

August 15, 2026

Gloria Ikibah

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The Accord Party has defeated the All Progressives Congress (APC) at the polling unit of former Osun Deputy Governor and ex-APC National Secretary, Senator Iyiola Omisore, in the ongoing Osun State governorship election.

According to results uploaded to the Independent National Electoral Commission (INEC) Result Viewing Portal (IReV), Accord secured 131 votes at Polling Unit 003, Ife Ward 1 (Moore), St. Gabriel Primary School, in Ife East Local Government Area.

The APC polled 85 votes to finish second, while the African Democratic Congress (ADC) recorded 10 votes. Other political parties obtained marginal votes at the polling unit.

The result adds to a series of early victories recorded by the Accord Party as INEC continues the uploading and collation of results across the state.

Earlier, Accord also won at the polling unit of former Osun Governor, Prince Olagunsoye Oyinlola, in Okuku, Odo-Otin Local Government Area.

The result sheet uploaded on the IReV portal showed Accord polling 125 votes, ahead of the APC, which recorded 85 votes. The ADC secured five votes.

Meanwhile, INEC has continued to upload results from polling units across Osun State as the governorship election moves into the collation stage.

Voters across the state’s 30 local government areas cast their ballots on Saturday to elect a governor for the next four years.

The major contenders in the election include the incumbent Governor Ademola Adeleke of the Accord Party, APC candidate Bola Oyebamiji, and African Democratic Congress (ADC) candidate Najeem Salaam.

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Osun election: Oyinlola Loses Polling Unit to Accord Party

Published

59 minutes ago

August 15, 2026

Gloria Ikibah

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The Accord Party has won the governorship election at the polling unit of former Osun State Governor, Prince Olagunsoye Oyinlola, in Okuku, Odo-Otin Local Government Area of the state.

According to the result sheet uploaded to the Independent National Electoral Commission’s (INEC) IReV portal, Accord polled 125 votes to emerge victorious at the polling unit.

The All Progressives Congress (APC) came second with 85 votes, while the African Democratic Congress (ADC) secured five votes.

The African Action Congress (AAC) scored two votes, while the Social Democratic Party (SDP), Young Progressive Party (YPP) and Zenith Labour Party (ZLP) each recorded one vote.

Other parties, including the AA, ADP, APGA, APM, APP, BP, NNPP and PRP, recorded no votes.

The result sheet showed that 228 voters were accredited, with 220 valid votes cast and eight rejected ballots.

The election was conducted at Court Hall I, Okuku, in Odo-Otin Local Government Area.

The result comes against the backdrop of Oyinlola’s reported endorsement of the APC governorship candidate, Bola Oyebamiji, ahead of the election.
Oyinlola, who governed Osun State from 2003 to 2010, had publicly backed Oyebamiji despite the APC candidate running against incumbent Governor Ademola Adeleke.

The outcome at Oyinlola’s polling unit therefore puts the Accord Party ahead of the APC, with Adeleke’s party failing to secure the unit despite the incumbent governor’s participation in the election.

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Osun election: INEC officials take to their heels as violence erupts in Ejigbo

Published

1 hour ago

August 15, 2026

Austin Ojomah

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Voting was disrupted in Ejigbo, Osun State, after violence broke out at a polling unit during the ongoing Osun State Governorship election.

It was gathered that voters, residents and officials of the Independent National Electoral Commission (INEC) fled the polling unit as tension escalated around the area.

According to Channels TV, people were seen running in different directions while motorcycles and vehicles moved through the area as residents attempted to escape the unfolding situation.

The immediate cause of the violence was not clear, as the chaos temporarily halted the ongoing electoral process.

The incident comes as voters come out in their numbers to partake in governorship election amid tight security.