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We need to borrow more despite improved revenue by some MDAs, Finance minister tells Senate

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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Nigerian government needs more borrowings to fund its budget even though some Ministries, Departments and Agencies have surpassed their revenue target.

Edun said this during an interactive session of the Senate Joint Committees on Finance and National Planning and Economic Affairs on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper.

According to him, the borrowing needs to be done productively and efficiently based on the Senate’s approval for proper funding of the budget.

“The revenue effort has been good, but we still need to do better, and in the meantime, we still need to borrow productively, effectively and sustainably all in the name to invest in a Nigerian economy.

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“Not just infrastructure but also social services, health services, education and intervention in terms of social safety net to help the poorest and most vulnerable,” Edun said.

Giving a similar reason, the Minister of Budget and Economic Planning, Senator Atiku Bagudu reminded the lawmakers that the borrowing plans contained in the N35.5 trillion 2024 budget, were primarily meant to fund the N9.7 trillion deficit.

“Despite revenue targets surpassing by some of the revenue generating agencies , government still needs to borrow for proper funding of the budget , particularly in the area of deficit and productivity for the poorest and most vulnerable .

“We a long term development perspective plan agenda 2050 aiming at GDP per capital of $33,000,” Bagudu explained.

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Giving a similar reason, the Minister of Budget and Economic Planning, Senator Atiku Bagudu reminded the lawmakers that the borrowing plans contained in the N35.5 trillion 2024 budget, were primarily meant to fund the N9.7 trillion deficit.

“Despite revenue targets surpassing by some of the revenue generating agencies , government still needs to borrow for proper funding of the budget , particularly in the area of deficit and productivity for the poorest and most vulnerable .

“We a long term development perspective plan agenda 2050 aiming at GDP per capital of $33,000,” Bagudu explained.

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Senator Abaribe welcomes arrest of Simon Ekpa

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The lawmaker representing Abia South, Senator Abaribe, said the arrest of separatist agitator Simon Ekpa in Finland is a welcome development.

The lawmaker stated that the arrest would deter purveyors of violence in the southeast region from continuing the mayhem being unleashed in the region.

According to him, Ekpa and his supporters are hiding behind the Biafra agitation to perpetrate crimes in the region.

In an interview with Channels TV, Abaribe said: “The arrest of Simon Ekpa is something that is very very welcome because this will tell all those people at home, who are purveyors of violence and instigated by Simon Ekpa that he actually said that he is just a content creator and not a serious person.

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“We have always said that his activities in South East are totally wrong and not what Ndigbo stands for.

“The quest by the IPOB seeking non-violence referendum was turned by all these criminals. They are using IPOB to cause mayhem in the South-East.”

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Nigerian military kills several IPOB members, recovers bombs, pump-action guns

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The Nigerian military said its troops of Operation Udo Ka have neutralised several suspected members of the Indigenous People of Biafra, IPOB and its security wing, the Eastern Security Network, ESN, in Imo State.

The Nigerian Army Headquarters stated this in a post on its official Facebook page on Monday.

The post said the operation was carried out along the Ekeututu–Ihiteunansa Road in Orsu Local Government Area of the state.

According to the post: “During the operation, the troops encountered suspected IPOB/ESN members. In the ensuing engagement, several of the suspected criminals were neutralized.

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“Captured items included pump-action guns, improvised explosive devices (IEDs) and IED-making materials, as well as charms.

“The Acting Chief of Army Staff, Lieutenant General OO Oluyede, commended the troops for their gallantry and urged them to sustain their efforts in eliminating criminal elements from their hideouts.

“He also reassured the peace-loving people of the South East to carry on with their daily activities without fear.”

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Few Months After Retirement From Winners Chapel, Bishop David Abioye Launches New Ministry, Gives Reasons

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Bishop David Abioye has explained why he’s setting up his own ministry after leaving the Living Faith Church Worldwide, also known as Winners Chapel.

This is coming just after retirement from office as Vice President of Living Faith Church worldwide.

The revered cleric unveiled plans for a new spiritual platform titled Hour of Revival. The maiden edition of the Hour of Revival took place on Saturday at the Velodrome of the National Stadium in Abuja, drawing a large crowd of participants from diverse backgrounds.

Addressing the attendees, Bishop Abioye emphasized that the initiative was a divine directive.

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Bishop Abioye further clarified that the revival platform is not his personal project but an ordained mission by God.

He called on participants to embrace personal revival as a pathway to corporate revival, expressing his hope that everyone in attendance would be transformed into fire-catchers and fire-spreaders.

The Hour of Revival, which is open to both saved and unsaved individuals, serves as an interdenominational prayer platform to rekindle spiritual fire and inspire personal and collective renewal.

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