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BREAKING: House Approves N54.99 Trillion Budget for 2025

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By Gloria Ikibah

The House of Representatives, during Thursday’s plenary session, approved the 2025 budget totaling N54.99 trillion.

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Chairman of the Appropriations Committee, Rep. Abubakar Kabir Abubakar, presented the committee’s report for the House’s consideration, leading to its adoption.

He said: “That the House do consider the Report of the Committee on Appropriations  a Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N54,990,1 65,355, 396 (Fifty-Four Trillion, Nine Hundred and Ninety Billion One Hundred and Sixty-Five Million, Three Hundred and Fifty-Five Thousand, Three Hundred and Ninety-Six Naira) only, of which N3,645,761,358,925 (Three Trillion, Six Hundred and Forty-Five Billion, Seven Hundred and Sixty-One Million, Three Hundred and Fifty-Eight Thousand, Nine Hundred and Twenty-Five Naira) only is for Statutory Transfers N14,317.142,689,548 (Fourteen Trillion, Three Hundred and Seventeen Billion, One Hundred and Forty-Two Million, Six Hundred and Eighty-Nine Thousand, Five Hundred and Forty-Eight Naira) only is for Debt Service, N13,064,009,682,673 (Thirteen Trillion, Sixty-Four Billion, Nine Million, Six Hundred and Eighty-Two Thousand, Six Hundred and Seventy-Three Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N23,963, 251,624,250 (Twenty-Three Trillion, Nine Hundred and Sixty-Three Billion, Two Hundred and Fifty-One Million, Six Hundred and Twenty-Four Thousand, Two Hundred and Fifty Naira) only is for contribution to the |Development Fund for Capital Expenditure for the year ending on the 31 December, 2025 (HB. 2021) and approve recommendations therein”.

On December 18, 2024, the House received the committee’s report on the 2025 Appropriation Bill. The following day, December 19, 2024, lawmakers conducted a clause-by-clause review of the bill, which contains 12 clauses, outlined as follows:

“BE IT ENACTED by the National Assembly of the Federal Republic of Nigeria as follows: –
1. Issue and appropriation of =N=54,990,165,355,396 from the Consolidated Revenue Fund of the Federation for 2025.
(i)  The Accountant-General of the Federation shall, when authorised to do so by Warrants signed by the Minister charged with responsibility for finance, pay out of the Consolidated Revenue Fund of the Federation during the year ending on the 31st day of December 2025, the sums specified by the warrants, not exceeding in the aggregate =N=54,990,165,355,396 (Fifty-Four Trillion, Nine Hundred and Ninety Billion, One Hundred and Sixty-Five Million, Three Hundred and Fifty-Five Thousand, Three Hundred and Ninety-Six Naira)only,  for the year ending on the 31st day of December, 2025.
First Schedule
(ii)    The amount mentioned in subsection (1) of this section shall be appropriated to heads of expenditure as indicated in the Schedule to this Bill
(iii)    No part of the amount aforesaid shall be released from the Consolidated Revenue Fund of the Federation after the end of the year mentioned in subsection (1) of this section.
“2. Release of funds from the Consolidated Revenue All amounts appropriated under this Bill shall be released from the Consolidated Revenue Fund of the Federation only for the purpose specified in the Schedule to this Bill.
“3. Virement In the event that the implementation of any of the projects intended to be undertaken under this Bill cannot be completed without virement, such virement shall only be effected with the prior approval of the National Assembly.
“4. Corrigendum: Any error in the schedule to this Bill that may hinder the implementation of projects and programs in Ministries, Departments and Agencies may be corrected through a corrigendum issued by the National Assembly: in any of the following circumstances:
(a) If the total sum of the project or program is not affected;
(b) Where the projects or programs are domiciled in Ministries, Departments and Agencies that lack jurisdiction to execute such projects;
(c) Where the execution of projects or programs by Ministries, Departments and Agencies are overtaken by event; and         (d) Where projects are wrongly coasted, sited or posted to Ministries, Departments or Agencies
“5. Excess Revenue
(i) The Accountant-General of the Federation shall immediately upon the coming into force of this Bill maintain a separate record for the documentation of Revenue accruing to the Consolidated Revenue Fund in excess of oil price benchmark adopted in this Budget.
(ii) Such revenues as specified in Sub-section (1) of this section refers to Revenues accruing from sales of government crude oil in excess of the approved benchmark price per barrel, the Petroleum Profit Tax and Royalty on Oil and Gas
“6. Authorization
(i) No funds shall be paid out of the monies arising from the record specified in Section 5 (1) except by an Act/approval of the National Assembly.
(ii) The Accountant-General of the Federation shall forward to the National Assembly full details of funds released to the government Agencies immediately such funds are released.
“7. Information on Funds Releases
The Minister of Finance shall ensure that funds appropriated under this Act are released to the appropriate agencies and or organs of government as and when due, provided that no funds for any quarter of the fiscal year shall be deferred without prior waiver from the National Assembly.
“8. Due Process Certification: The department of government charged with the responsibility of certifying that due processes have been complied with in the processing of implementation of projects shall ensure that all processes of approval are completed within the specified period as provided for in the Public Procurement Act.
“9. Information on internally generated revenue, domestic and foreign assistance    All Accounting Officers of Ministries, Parastatals and Departments of Government who control heads of expenditures shall upon the coming into effect of this Bill furnish the National Assembly on quarterly basis with detailed information on-
(a) the Internally Generated Revenue of the agency in any form; and
(b) all foreign and domestic assistance received from any agency, person or organisation in any form.
“10. Power of Nigerian Embassies and Missions  The Missions and Embassies shall constitute their Tender Board as in a Parastatal’s Tenders Board (PTB) within the requisite threshold in compliance with the extant Executive Circular and the Provisions of the Public Procurement Act.
“11. Detailed estimate: The detailed estimates of expenditure are set out in the Second Schedule to this Bill.
“12. Expiry  Constitution, 1999: In line with the provisions of section 318 of the Constitution of the Federal Republic of Nigeria, this Bill expires after 12 months, starting from 1st day of January to 31st day of December, 2025 when asented to.
“Short Title: This Bill may be cited as the Appropriation Bill, 2025”.

The House convened in the Committee of Supply, with Speaker Tajudeen Abbas overseeing the review of budgetary allocations.

During deliberations, Rep. Chinedu Ogar noted the absence of funding for light rail projects in the South East. In response, the Speaker assured that the matter would be brought to the President’s attention and could be addressed through a supplementary budget.

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Following this, the House resumed plenary, where Majority Leader Rep. Julius Ihonbvere moved for the adoption of the report as a working document. The motion received unanimous approval, leading to the final reading and passage of the 2025 Appropriation Bill.

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BREAKING: PDP, NNPP Rep members abandon parties, lace boots with APC

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Three opposition members of the House of Representatives on Thursday formally announced their defection to the ruling All Progressives Congress (APC) during plenary.

The Reps include Oluwole Oke from Osun State, who left the Peoples Democratic Party (PDP), and Kabiru Hassan Rumrum and Sani Abdullahi, both from Kano State, who defected from the New Nigeria Peoples Party (NNPP) to the APC.

Rumrum had earlier declared his resignation from the NNPP and his return to the APC during a meeting with the party’s National Chairman, Dr. Abdullahi Umar Ganduje.

Also, Oke had earlier announced his departure from the PDP in Osun State and his decision to join the APC.

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Their defections were formally announced by Speaker Abbas Tajudeen at Thursday’s plenary, increasing the total number of lawmakers who have switched parties since the inauguration of the 10th National Assembly to 30.

Of the 30 defectors, 27 have joined the APC from the PDP, Labour Party, African Democratic Congress (ADC), and the NNPP.

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FG to Seal Ijora-Marine Bridge for 21 Days Over Urgent Repairs

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By Kayode Sanni-Arewa

The Federal Government has announced the temporary closure of the Ijora-Marine Bridge in Lagos for 21 days beginning Sunday, May 18, to allow for urgent repair works.

The Federal Controller of Works in Lagos, Mrs. Olukorede Kesha, disclosed this in a statement on Tuesday, noting that the closure will commence at 7:00 a.m. on Sunday.

According to the statement, sections of the bridge will be completely shut down, while others will experience partial closures throughout the repair period.

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The maintenance works will include lifting the bridge deck to replace worn-out bearings, alongside other critical structural repairs,” Kesha said.

She explained that the repair project is aimed at ensuring the safety and comfort of both motorists and pedestrians who rely on the bridge.

“We understand the inconvenience this may cause, but this is a necessary step to keep the bridge in good condition and ensure the safety of all road users,” she said.

Kesha assured that traffic diversions had been carefully planned, with traffic officers deployed to manage flow and provide guidance to motorists.

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She urged commuters, residents, and businesses in the area to adjust their schedules accordingly and cooperate with authorities during the repair period.

“Safety signs and traffic management tools will be put in place to minimize disruption. We sincerely apologise for the inconvenience and thank the public for their patience,” she added.

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LASG moves to introduce monthly rent payment system to ease burden on tenants

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By Kayode Sanni-Arewa

The Lagos State Government has announced plans to roll out monthly and quarterly rent payment options as part of broader efforts to ease the housing cost burden on residents, particularly those with low incomes.

Commissioner for Housing, Moruf Akinderu-Fatai, revealed this development last Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second term in office.

According to Akinderu-Fatai, this new approach continues the government’s commitment to improving access to affordable housing across the state.

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He cited the earlier implementation of a rent-to-own initiative, which enables participants to make a five per cent initial deposit and pay off the remainder over a 10-year period.

That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.

The commissioner highlighted that many residents struggle with annual rent obligations, and that the proposed flexible payment structure could provide much-needed relief.

“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.

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Akinderu-Fatai noted that the government is currently engaging with stakeholders—including landlords, real estate developers, and other key actors—to address potential enforcement and logistical issues ahead of the policy’s introduction.

“Of course, there are issues to resolve — things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.

He added that a pilot scheme will be launched in select locations across Lagos as part of the preliminary rollout.

This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he stated.

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