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Tag: 2024 Budget

  • Why 2024 budget was extended to December – Senate

    Why 2024 budget was extended to December – Senate

    The Senate has approved a fresh extension of the implementation of the capital component of the 2024 national budget from June 30 to Dec. 31.

    The decision was reached during plenary on Tuesday, following the presentation and expeditious passage of an amendment bill to the Appropriation Act.

    The legislation, read and passed through first, second and third readings in a single sitting, received overwhelming support from lawmakers.

    Deputy Senate President, Sen. Jibrin Barau, announced the resolution, following the adoption of the report by the Senate Committee on Supply.

    The debate was led by the Chairman of the Senate Committee on Appropriation, Sen. Solomon Adeola.

    Leading the debate, Adeola recalled that the 2024 Appropriation Act was extended on Dec. 18, 2024 to June 30, 2025, which would expires next week.

    “Therefore, the need for this new extension is to allow full implementation of the budget to allow ministries, departments and agencies (MDAs) utilise effectively large proportion of funds released to them.

    “There is need for further extension for the funds to be fully and judiciously expended,” he said.

    Adeola said that given the critical importance of some key projects nearing completion, the extension of the expiration clause had become expedient to avoid compounding the problem of abandoned projects.

    “This bill, therefore, provides for the extension of the capital components of 2024 Appropriation Act from June 30, 2025 to Dec. 31, 2025,” he said.

    Contributing, Sen. Yahaya Abdullahi (APC-Kebbi) said that people had committed their resources and conducted government work but that up till now, they had not been paid.

    “So I think we need to know what is really happening. So people are saying that there is cash flow problem or whatever.

    “Mr President, I think the leadership of the National Assembly should take it upon itself to meet the president and express our own concern about what is happening regarding implementation of the budget,” he said.

    Also, Sen. Abdul Ningi (PDP-Bauchi) said: “What you ought to hear from the Committee Chairman on Appropriation is whether or not we are experiencing a shortage of revenues; whether or not there is no money in this country to pay off these implemented projects,” he said.

    On his part, Sen. Seriake Dickson (PDP-Bayelsa) said no one was opposed to the extension it had become necessary.

    “This is so that the machinery of the government continues to run and does not grind to a halt.

    “But clearly, nobody is satisfied about the situation that we have found ourselves in,” Dickson said.

    In his remarks, the Deputy Senate President, Jibrin Barau, who presided over plenary said that the senate had ‘absolute confidence’ in the committee, expressing the belief that it would do the needful.

    “Mr President (Tinubu) is somebody who listens, somebody who has the passion to see that we develop our country.

    “He’s a very wonderful man. Whatever you take to him, and it’s about his nation, he will go the extra mile to get it done,” Barau said.

  • BREAKING: Senate further extends 2024 budget deadline to December 2025

    BREAKING: Senate further extends 2024 budget deadline to December 2025

    A bill for an Act to amend the 2024 Appropriation Act to further extend deadline for the capital component of the Act and for other related matters 2025 was passed into law by the Nigerian Senate on Tuesday.

    TheNewsGuru.com (TNG) reports the bill was passed into law by the Senate after it passed third reading, following a motion moved by Senate Majority Leader, Opeyemi Bamidele, that was seconded by Minority Leader, Abba Moro.

    The Nigerian Senate, during a plenary session presided over by Deputy Senate President, Barau Jibrin, amended the 2024 budget and further extended the deadline set for implementation of the capital component from 30 June 2025 to 31 December 2025.

    “A bill for an act to amend the 2024 Appropriation Act to further extend the capital component of the Act from 30th June 2025 to 31st December 2025 and for other related matters 2025; third reading taken and passed,” the Deputy Senate President declared.

    Details shortly…

  • Ondo Govt. increases 2024 Budget by N92bn

    Ondo Govt. increases 2024 Budget by N92bn

    The Ondo State Government has requested the raise of its 2024 budget by N92 billion to cushion the effects of economic hardship and implement the new minimum wage for its workers.

    The State Governor, Mr Lucky Aiyedatiwa, who wrote to the state House of Assembly, asked for amendment and increase of the 2024 Budget from N395 billion to N487 billion.

    The letter accompanying the bill for the amendment of the budget was read by the Clerk of the House of Assembly, Mr Benjamin Jaiyeola.

    A motion for the amendment of the budget was subsequently moved by the House Majority Leader, Mr Oluwole Ogunmolasuyi, (Owo 1-APC) and was seconded by Mr Olatunji Oshati, (Ose- APC).

    Ogunmolasuyi said the bill for amendment if it  sails through would address the effects of the fuel subsidy removal and afford the government to implement the N73,000 minimum wage for its workers.

    Oshati, who seconded the motion, also moved the motion to commit the bill to the  Appropriation Committee, saying that the bill would address many things in the state.

    He added that the bill if passed into law would allow government to implement its programmes and policies in line with current economic realities.

    Also speaking, Mr Stephen Abitogun, (Akure South 2-APC), urged his colleagues to allow the bill sail through in order to cater for the needs of people of the state.

    Similarly, Mr Olatunji Fabiyi, (Odigbo- APC), said that without the amendment, there would be no way that civil servants, who are the engine room of government in the state, could enjoy the minimum wage promised by the governor.

    The Speaker, Chief Olamide Oladiji, said that without the bill being passed, there would be slow pace of implementation of government’s policies and programmes.

    “This bill is very important for the state because of the current economic indices and without it, implementation of minimum wage will not be realistic.

    “This is our own little way to support the administration of Hon. Lucky Aiyedatiwa.

    “I, therefore, order the bill to be passed to the Finance and Appropriation Committee for proper and thorough screening and be submitted to the plenary,”he said.

    The sitting of the House of Assembly was later adjourned to Wednesday.

  • Lagos Assembly approves reordering of 2024 budget

    Lagos Assembly approves reordering of 2024 budget

    The Lagos State House of Assembly at a plenary on Thursday approved the reordering of the state’s Appropriation Law of 2024, that has a size of N2.27 trillion.

    The House gave the approval after the Chairman, House Committee on Economic Planning and Budget, Mr Lukman Olumoh, presented the report and recommendations of the committee which were adopted as the resolution of the House.

    The Speaker, Mr Mudashiru Obasa, explained that the reordering was sequel to a letter dated Aug. 9, 2024 and sent to the House by the Gov. Babajide Sanwo-Olu of the state.

    Obasa said though the total budget size remained the same, the recurrent expenditure was reduced from N952.43 billion in the original budget to N935.38 billion.

    The speaker added that while the capital expenditure was increased from N1.31 trillion to N1.33 trillion following the reordering.

    “That a bill for a law to authorise the issuance and appropriation of N935.38 billion from the Consolidated Revenue Fund for Recurrent Expenditure and N1,33 trillion from the Development Fund for Capital Expenditure.

    “Thereby totalling a revised budget size of N2.27 trillion for the year ending Dec. 31, 2024 be passed into law,” Obasa announced to his colleagues who unanimously voted in favour.

    The speaker, thereafter, directed the Clerk of the House, Mr Olalekan Onafeko, to forward a clean copy of the bill to the governor for his assent.

    Earlier, Olumoh had reminded the House that in the letter sent by Sanwo-Olu, the latter explained the rationale for the request to redistribute the budget included the need to boost the appropriation to some Ministries, Agencies and Parastatals.

    Olumoh said the letter requesting the reordering had also emphasised the need to meet the state’s commitments to the residents through the budget.

  • BREAKING: Senate approves amendment of 2024 budget

    BREAKING: Senate approves amendment of 2024 budget

    The Senate has approved 6.2 trillion naira amendment to the 2024 appropriation act, raising the 2024 budget from 28.7 trillion naira to 35.055 trillion naira.

    The amendment for capital and recurrent expenditures made provisions for key infrastructure projects omitted in the 2024 appropriation act and the recently approved national minimum wage.

    The Minister of Budget and National Planning, Mr Atiku Bagudu had explained that the supplementary budget will be used to pay the newly approved minimum wage.

    Bagudu gave the explanation while addressing a House of Representatives’ Committee on Appropriation in Abuja.

    He said that the funds would be spent on stimulating the economy through the implementation of various infrastructural projects.

    These projects, he said, include road, rail, water, irrigation, and dam projects in the 2024 fiscal year with prudent utilisation of the funds.

    He disclosed that N3 trillion would cater for the new national minimum wage, which has been passed into law by the Senate.

    Bagudu said that the budget amendment was also aimed at providing counterpart funding for rail projects that had literally stopped for a while, including the longest among them.

    These, according to him, are the Port Harcourt Main Bridge, which would traverse the rivers Imo, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Katsina, Bauchi, Gombe, Yobe, and other parts of the country.

    The minister said the second project is Badagry-Tin Can Port, Lekki Port, while the third one is Lagos-IIbadan Standard Gauge, adding that the fourth one is Kano-Marada Standard Gauge.

    He said that there would be funding for rolling stock that is required, adding that this would gulp the sum of N530 billion as requested for the five rail projects.

    Bagudu said that the sum of N522 billion was also provided for water, irrigation, and dam projects, adding that the proposed N3.2 trillion renewed hope infrastructural fund was “intended to provide equity contributions.

    Bagudu assured that the projects encapsulated in the amendment to the 2024 Appropriation Bill would not limit the revenue available for the implementation of the 2024 Appropriation Act.

    Rep. Abubakar Bichi, the Chairman of the House Committee on Appropriation, had earlier urged the Minister to give details on the Appropriation Bill, including the N3.2 trillion capital expenditure increase.

    This also includes the N3 trillion recurrent expenditure for the newly proposed national minimum wage transmitted by President Bola Tinubu for accelerated consideration.

    Bichi observed that there was a need for Nigerians to be adequately informed of the details of the proposed N6.2 trillion budget.

    This, he said, was in addition to the N28.7 trillion appropriation Act approved for the 2024 fiscal year.

    The Committee urged the Federal Government to address the infrastructural deficit and also address issues of security.

    Responding, Bagudu said that various efforts were being made to address issues concerning the security of lives across the country.

    Some of the projects proposed in the supplementary budget include: Lagos-Calabar, a 1,000-kilometer road project for which a sum of N150 billion is required

    Sokoto-Badagry road projects, as well as the rail project, for which the Chinese government has provided 85 percent funding while the Federal Government is yet to provide the 15 percent counterpart finance.

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

    He added that the Lagos-Calabar also covered the five Southeast States as well as Port Harcourt and Maiduguri rail lines.

  • Insertions into 2024 budget: No law was broken – Budget Minister

    Insertions into 2024 budget: No law was broken – Budget Minister

    The Minister of Budget and Economic Planning, Senator Atiku Bagudu has said no law was broken over the insertions made by the National Assembly (NASS) into the 2024 budget.

    TheNewsGuru.com (TNG) reports Senator Bagudu, who said this at a press conference in Abuja, stressed that the (NASS) did not violate any laws in regards to the reported new insertions in the 2024 budget.

    “Since 1999, it has been customary for the National Assembly to include new line items in the Appropriation Bill bill to fund specific projects in their constituencies,” Bagudu said.

    The Budget Minister went further to say this practice often results in an increase in the approved budget from what was initially presented by the President.

    TNG recalls the Senate had been rattled by a padding scandal after now-suspended Bauchi Central lawmaker, Senator Abdul Ningi claimed the sum of N3.7 trillion was padded into the 2024 budget.

    Subsequently, reports emerged that the insertions made by the NASS into the budget were not tied to any project. Ningi also claimed projects were skewed to favour some parts of the country in the 2024 budget.

    The Bauchi Central Senator was reported to have made the claims during a BBC Hausa Service interview last weekend.

    Following the allegations levelled against the red chamber, the Senate suspended Ningi, asking him not to participate in all the activities of the 10th Senate.

    Reacting to the development, Bagudu stressed that the NASS has the right to increase the budget line and that even if they pass an appropriation and the President refuses to assent, it becomes law after 30 days.

    “There has been a long debate, and a former president went up to the Supreme Court to define the appropriation power of the executive and the National Assembly.

    “Later, there was an out-of-court settlement. Until now, this issue has not been resolved.

    “So, what is the power of the National Assembly as regards the budget? There is no Supreme Court judgement, and the choice of our democracy is that the National Assembly has the last word.

    “Even when they pass an appropriation, that assent is refused, and after 30 days, it becomes law.

    “Do they have the right to increase a budget line? I will say yes,” Bagudu said.

    He also mentioned that there is a misunderstanding regarding why budgets for agencies classified as statutory transfers do not have their budget line items disclosed.

    He said: “These are transfers for agencies that are created by the constitution or legislation. So, they have the right to draw up their own budget.

    “They can be supervised by a committee, but it is not the federal government that appropriates for them; the most popular ones are the NJC, FCT, Tertiary Education Trust Fund, NEDC, NDDC, and others”.

  • Budget padding saga: Atiku blows hot over Ningi’s suspension, threatens fierce opposition

    Budget padding saga: Atiku blows hot over Ningi’s suspension, threatens fierce opposition

    Former Vice President Atiku Abubakar has threatened that the suspension of Bauchi Central Senator, Abdul Ningi would be met by fierce opposition.

    Atiku, who is the presidential candidate of the People’s Democratic Party (PDP) in the 2023 general election, said issues Senator Ningi raised should be addressed instead.

    Ningi had alleged that Nigeria’s 2024 budget was padded by N3.7 trillion, while claiming the Bola Tinubu administration was running on two different 2024 budgets.

    The Bauchi Central Senator, who was suspended following the allegations, also claimed that approved projects were skewed to favour some parts of the country.

    Reacting to the suspension of Ningi, Atiku in a statement on Thursday stated that the accusation of budget padding totaling N3 trillion cannot be dismissed lightly by the government.

    While making reference to the unresolved $3.3 billion NNPCL loan repayment scandal, the former Vice President stressed that the suspension of Ningi left with more questions than answers.

    Atiku’s statement reads: “Over the past few days, allegations have rocked the Senate, questioning the very integrity of the 2024 Appropriation Act, the cornerstone of our nation’s annual planning and development.

    “A fiscal policy analytics and advocacy organization has unequivocally confirmed a disturbing lack of transparency within the 2024 Appropriation Act.

    “Furthermore, the sudden suspension of the whistle-blower Senator, without adequate explanation, has only fueled the crisis, leaving us with more questions than answers.

    “I demand an immediate and thorough investigation into these allegations. Appropriation lies at the heart of governance, and any deviation from serving the people’s interests will be met with fierce opposition.

    “Denials are unacceptable, and the suspension of one senator cannot silence accusations of corruption and illegal fiscal spending by the federal government.

    “Without a clear explanation to the people of Nigeria, we must treat these allegations for what they are: outright fraud.

    “The accusation of budget padding totaling N3 trillion cannot be dismissed lightly by the government.

    “Given the current hardships facing our nation, a padded budget is already translating to a padded hunger, padded poverty, padded insecurity, padded energy crises, padded forex instability, and the soaring cost of living.

    “The people of Nigeria cannot afford to ignore allegations that worsen our already dire economic situation.

    “The current federal government has a disgraceful track record of ignoring issues of transparency and due process in public administration.

    “The unresolved $3.3 billion NNPCL loan repayment scandal, with Nigeria now expected to repay $12 billion, remains a glaring example.

    “The Tinubu administration must address these high-profile corruption cases transparently.

    “The National Assembly, as the elected representatives of the people, are constitutionally obligated to legislate for the peace, order, and good governance of our nation, without colluding with corrupt elements.

    “Failure to do so and persisting in denial will only confirm the government’s complicity in official malpractice”.

  • Why N3.7trn budget padding allegation must be investigated thoroughly – PDP

    Why N3.7trn budget padding allegation must be investigated thoroughly – PDP

    The People’s Democratic Party (PDP) has called for an independent investigation on the alleged N3.7 trillion budget padding by the National Assembly (NASS).

    The PDP said this in a statement by its National Publicity Secretary, Mr Debo Ologunagba in Abuja.

    Ologunagba said that the investigation would help to unravel the circumstances leading to the suspension of Sen. Abdul Ningi (PDP-Bauchi) by the Senate, saying that Ningi was suspended without a detailed inquest into the alleged budget padding raised by him.

    He described the suspension as a desperate move to suppress investigation, conceal and sweep the facts under the carpet.

    He said that the Senate should have referred the matter to the appropriate Standing Committee for an open investigation in line with its extant rules.

    “The PDP calls for an independent investigation into the allegation that a staggering N3.7 trillion was discreetly inserted into the 2024 budget for alleged non-existent projects,“ he said.

    The Senate had on Tuesday suspended Ningi for three months after he alleged that the 2024 budget was padded with N3.7 trillion by the National Assembly.

  • Budget padding saga: Ndume reveals how much senior Senators, floor members received for constituency projects

    Budget padding saga: Ndume reveals how much senior Senators, floor members received for constituency projects

    Chief Whip of the Senate, Senator Ali Ndume has revealed how much senior Senators and floor members of the Nigerian Senate received for constituency projects.

    TheNewsGuru.com (TNG) reports the Senate has been rocked following allegations by Senator Abdul Ningi that the 2024 budget was padded and that approved projects were skewed to favour sections of the country.

    As the Senate was being rattled by Ningi’s allegation, Senator Jarigbe Agom-Jarigbe claimed that some Senators got N500 million each from the 2024 budget for constituency projects.

    Responding to the claims, Senator Ndume confirmed that some principal officers in the 10th National Assembly did receive more than the N200 million allocation for constituency projects in the 2024 Appropriation Act.

    Asked when he featured in Channels TV’s Politics Today on Wednesday whether the claim by Agom-Jarigbe was true, Ndume said:

    “It’s disparity now, we are not the same; all animals are equal but some are more equal than the other. That’s what the case is. They have agreed to that.

    “All the Senators have N200 million (each) as their constituency projects but I am a leader. That is the difference. 10 of us are leaders including those in the opposition. We get more than the floor members. It’s normal.

    “That decision is taken by the Senators. We have the Senate Budget Committee before but now the floor members entrusted that to the presiding officers. That’s the difference. So, most of the Senators don’t know what I get and I will not tell you.”

    He contended that in the United States as well, discretionary powers are granted for constituency projects.

    “Right now, Democrats have the majority, so they have more. In the Senate, we are very nice to the Peoples Democratic Party (PDP) Senators despite the fact they didn’t treat us the same,” Ndume said.

    Speaking further, the Senate Chief Whip said Ningi was trying to make 2024 projects an ethnic and political issue.

    “I sat next to the Senate Leader (Opeyemi Bamidele), he was very angry of what Ningi did, but honestly me too, what he (Ningi) did was wrong because I was involved,” Ndume said.

    “In the first instance, it started when they said capital project was skewed to the South.

    “The total in that budget that was brought before us by the President was not up to N9 trillion, it was N8.9 trillion and they are talking of skewed capital project to the South and the total adding up to N15 trillion.

    “That N15 trillion is strange, even with the amendment that we made, the capital component of this budget is not up to that.”

    Ndume disclosed that when Ningi first presented the case to him, he told him to provide evidence but that he could not.

    He insisted that as a senior member of the Senate, he can attest to the fact that the North was not shortchanged by the South in the 2024 budget as claimed by Ningi.

  • Senate explains alleged N3trn 2024 budget padding

    Senate explains alleged N3trn 2024 budget padding

    Senate on Tuesday explained that the N3 trillion alleged to be padded in the 2024 budget was actually statutory transfers to first line charge agencies of government not domiciled in the ministries.

    Chairman, Senate Committee on Media and Publicity Sen.Yemi Adaramodu gave the explanation, while speaking with journalists on the suspension of Sen. Abdul Ningi over alleged padding of 2024 budget.

    Adaramodu said the 10th Senate needed to be treasured as pillar of democracy and would only do what would promote national interest

    He said there was nothing like budget padding ,saying that the false narrative on N3 trillion padding was a demonstration of error of arithmetic and innocent of procedure by the protagonists of budget padding.

    “The N3 trillion is for statutory transfers of government agencies on the first lines charges.”

    He listed the agencies to include Independent National Electoral Commission (INEC), Universal Basic Education Commission (UBEC)Public Complaints Commission, National Judicial Council, North East Development(NEDC), Commission Niger -Delta Development Commission Commission(NDDC) among others.

    He also dismissed the issue of provision of N500 million as constituency fund to senators, describing the allegation as a ferry tale.

    He urged journalists to study the 2024 budget to investigate allocations to the National Assembly.

    He said the issue of budget padding was a negative connotation and a serious crime in budgeting, hence the Senate didn’t take it lightly.

    “It is a matter of integrity, issue of budget has been put to rest as the protagonist of the budget padding were called to substantiate and they could not prove it but the allegations can not just go without been attended to.

    “The Appropriation Act is a public document and when it was done,it was done in the public glare and it was N28.77 trillion and so for some to say N25 trillion was what was approved is scary.

    “Statutory transfers for agencies on first line charges, that are not domiciled in the Ministries was what Ningi said was padded, that the allocation can not be traced.”

    He reiterated that the N3trillion was not padded, was not missing, but was for agencies of government that were placed on first line charge.

    He also said the allegation that a section of the country was allocated more funds than other regions was not put in right perspective, saying that allocations was done sectorally.

    The Senate image maker said the integrity of the National Assembly was in question, hence the matter was treated with the seriousness it deserved.