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70% Of 2025 Budget To Be Rolled Over Into 2026 – Finance Minister Confirms

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The Federal Government has disclosed that about 70 per cent of the 2025 budget will be rolled over into 2026.

The Minister of Finance and coordinating Minister of the Economy, Wale Edun, stated this on Monday during a one-day interactive session between the Senate Committee on Finance and members of the President’s economic team on the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).
During the session, the Chairman of the Senate Committee on Finance, Sani Musa, disclosed that the session followed a formal request by the Executive to the Senate President, Godswill Akpabio, seeking approval of the 2026–2028 MTEF/FSP, which was approved by the Federal Executive Council on December 3, 2025.

The Senate Committee on Finance meets with members of President Bola Tinubu’s economic team on the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) on December 15, 2025.

The meeting was attended by the Minister of Budget and Economic Planning, Abubakar Bagudu; Minister of State for Finance, Doris Uzoka-Anite; Minister of Petroleum (Oil), Senator Heineken Lokpobiri; the Accountant-General of the Federation, Babatunde Ogunjimi and the Chairman of the Federal Inland Revenue Service, Zacch Adedeji.

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In his presentation, Edun stated that the 2024 budget had been extended and largely implemented, particularly on the capital expenditure side, with funds available to complete outstanding components.

He disclosed that only 30 per cent of the 2025 budget had been fully funded, necessitating the rollover of about 70 per cent into 2026.
According to him, revenue estimates rose from ₦20 trillion in 2024 to ₦40 trillion in 2025.
Edun acknowledged that the Federal Government’s revenue far exceeded actual collections, underscoring the need to shift focus from borrowing to revenue generation.

“There has been a yeoman’s job in revenue mobilisation, but we need a more robust revenue optimisation programme for 2026,” he stated.
“The focus is not borrowing but revenue. For the economy to grow, we need mass savings and productive investment.”

The Accountant-General of the Federation also told the committee that arrangements had been concluded to clear outstanding 2024 obligations, confirming that indigenous contractors had been paid up to 80 per cent, with the first and second batches of payments already completed.

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However, lawmakers raised concerns over budget implementation. Senator Danjuma Goje questioned the continued non-implementation of constituency projects despite claims that revenue targets for 2025 had been met, warning that the country was effectively running three budgets simultaneously.

Other senators queried whether revenue projections would also be rolled over into 2026 and whether fresh capital funding would be introduced in the new budget cycle.

In response, Edun explained that the rollover was designed to prevent repeated budget extensions and ensure that 2026 operates as a single budget year. He noted that while non-oil revenue had performed relatively well, oil revenue remained a challenge, requiring flexibility in spending commitments.

Several senators called for the prompt payment of contractors, urging the government to prioritize outstanding obligations. Some lawmakers however, argued that rolling over 70 per cent of the 2025 budget while claiming to avoid multiple budgets amounted to playing with words.
At the end of the session, the Senate Committee on Finance announced the immediate constitution of a three-man committee to work with the President’s economic team to fast-track the release of payments to indigenous contractors.
Senator Musa said the National Assembly would rigorously interrogate the assumptions underpinning the MTEF to ensure fiscal discipline and realistic projections.

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Gombe Rep Yaya Bauchi Tongo dies

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Yaya Bauchi Tongo, a member of House of Representatives representing Gombe/Kwami/Funakaye Federal Constituency of Gombe State is dead.

Rep Tongo died in Abuja on Friday following a brief illness, the spokesperson for the House of Representatives, Akintude Rotimi said in a statement quoting the Gombe State Caucus of the House of Representatives.

While paying tribute to the late lawmaker, Rotimi said his death marked the end of a distinguished life devoted to public service and the advancement of his constituents, Gombe State, and the Federal Republic of Nigeria.

“Rep. Tongo was a dedicated public servant, seasoned grassroots politician, and committed legislator whose life was marked by unwavering service to his people and the nation,” Rotimi said.

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The deceased lawmaker served as Chairman of Funakaye Local Government Area, Special Adviser to the Government of Gombe State, and Member of the Gombe State House of Assembly before his election into House of Representatives.

He was Chairman of the Nigeria–United Arab Emirates Parliamentary Friendship Group in the House of Representatives.

“A respected voice within the Parliament and a passionate advocate for the welfare and development of his constituents, Hon. Tongo brought wisdom, experience, and a deep understanding of governance to legislative deliberations. His contributions to nation-building and democratic development will remain an enduring part of his legacy.

“On behalf of the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD, GCON, the leadership, and the entire membership of the House, we extend our heartfelt condolences to his immediate family, the people of Gombe/Kwami/Funakaye Federal Constituency, and the Government and people of Gombe State on this painful loss.

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“As we mourn the passing of our dear colleague, we pray that Almighty Allah (SWT) forgives his shortcomings, accepts his good deeds, and grants him Aljannatul Firdaus. We also pray that Allah (SWT) grants his family, loved ones, constituents, and colleagues the strength and fortitude to bear this irreparable loss,” Rotimi said.

He added that further details regarding parliamentary tributes and funeral arrangements will be communicated in due course.

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My father’s detention shows Nigeria’s democracy far from complete – El-Rufai’s son

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A member of the House of Representatives from Kaduna North and Chairman, Committee on Banking Regulations, Mohammed Bello El-Rufai, has disclosed that his father, Nasir El-Rufai’s continued detention shows that Nigeria’s democratic journey is far from complete.

Bello noted that democracy can only thrive in Nigeria when the country’s leadership is accountable.

El-Rufai has been in custody of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, since he was arrested at the Abuja airport earlier in the year.

The commission had arraigned him for corruption while he was governor of Kaduna State.

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However, posting on X, Bello wrote: “Today, we celebrate the enduring strength of our democracy and the collective voice of the Nigerian people. Democracy thrives when leadership is accountable, citizens are empowered, and every voice is heard.

“As we commemorate this important day, we must also acknowledge that while our democracy continues to endure, the abuse of citizens’ rights remains a troubling reality.

“The true test of any democracy is not simply the conduct of elections, but its commitment to the rule of law, due process, and the protection of fundamental freedoms.

“The continued unlawful detention of my father, Mallam Nasir El-Rufai, alongside the experiences of many other Nigerians who have faced similar violations, serves as a reminder that our democratic journey is far from complete.

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“On this Democracy Day, let us recommit ourselves to building a nation where justice prevails, institutions are strengthened, and the rights of every citizen are respected and protected.”

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NDC: Dickson, Obi hold closed door meeting amid internal crises

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The National Leader of the Nigerian Democratic Congress, NDC, Senator Seriake Dickson, on Friday held a closed-door meeting with the party’s presidential candidate, Peter Obi, amid recent crises in the party.

Dickson made this known in a statement on his official X handle, revealing that the meeting, which lasted nearly three hours, was attended by Obi and other senior party leaders.

“I just received my brother, colleague, and partner in the New Nigerian Project, His Excellency Mr Peter Gregory Obi, CON, our presidential candidate, who, together with some distinguished leaders of our party, held a closed-door meeting which lasted about three hours.

“In the course of that meeting, we reviewed the activities of our party and discussed a few recent issues that have been a source of concern to all sides, and we amicably resolved all the issues.

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“We have always been on the same page on the bigger picture, i.e., winning the elections for all candidates of our party and rescuing Nigeria from the misgovernance of the APC-led government. However, a few issues have arisen, and we have agreed on how to handle them moving forward.

“I want to use this opportunity again to call on all members of our party to stop the bickering and name-calling and focus on the bigger picture.

“Both His Excellency Peter Obi and I, as well as other leaders and stakeholders of our party, will continue to consult and engage with one another to address and resolve concerns, strengthen the unity and cohesion of our party, and ensure that we remain focused on our shared mission of rescuing Nigeria and building a better future for all.”

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