Tag: 2025 Budget

  • What to expect as Gov Sanwo-Olu presents Lagos 2025 budget today

    What to expect as Gov Sanwo-Olu presents Lagos 2025 budget today

    Governor Babajide Sanwo-Olu will present the 2025 Appropriation Bill to the Lagos State House of Assembly today November 21, 2024, at noon.

    TheNewsGuru.com (TNG) reports Governor Sanwo-Olu is expected to present an ambitious budget above the N2.3 trillion approved for 2024.

    According to a terse statement by Gbenga Omotoso, Lagos State Commissioner for Information and Strategy, the budget is themed “Budget of Sustainability”.

    “The budget, themed Budget of Sustainability” is a blueprint for continuity, resilience and prosperity for Lagosians.

    “It is structured around five key pillars, including Infrastructure Sustainability, Economic Diversification, and Institutional Reforms,” the statement reads.

  • 2025 Budget: Delta earmarks N50bn to enhance road infrastructure in 25 LGAs

    2025 Budget: Delta earmarks N50bn to enhance road infrastructure in 25 LGAs

    The Delta Commissioner for Works (Rural and Riverine Roads), Mr Charles Aniagwu, said the state proposed N50 billion in its 2025 budget estimates to enhance road infrastructure in the 25 Local Government Areas of the state.

    Aniagwu said this during a budget defence meeting with the Assembly Committee on Works and Special Projects on Wednesday in Asaba.

    ”It is worthy of note to mention that the ministry in the exercise of the ‘MORE Agenda’ made deliberate effort to spread projects across the 25 LGAs to the tune of N50 billion in the 2025 budget estimates,” he said.

    Aniagwu further said that his ministry was created out of the defunct Ministry of Works

    According to him, the ministry is charged with the responsibility of formulating policies within the corridor of civil engineering works in the rural and riverine communities and other areas as designated in the state.

    Aniagwu, who also stood in for the Commissioner for Works (Urban  and Highways), Mr Reuben Izeze, presently on vacation, said that his ministry would focus on the completion of ongoing projects and major projects that would impact on the various communities.

    He also restated the determination of Gov. Sheriff Oborevwori to build rural roads that would help to improve the living standard of the people.

    He recalled that the governor promised during the campaign to complete all the projects he inherited and also initiate new ones.

    ”The governor is interested in building all the rural roads for our people who live in rural communities. He’s also desirous of continuing with the ongoing projects as well as initiate new ones,” he said.

    The commissioner also said that the State Government was reviewing the cost of some projects in order to meet with the present economic reality occasioned by increased prices of materials.

    ”One novel thing the governor has done is that almost 100 per cent of the projects we are awarding now, he has been able to transparently provide for the mobilisations of the contractors.

    ”The reason we are doing this is that we don’t want any contractor to tell us that he is seeking for funds.

    ”This will help us to avoid the incidence of incessant review of contracts on account of fluctuations of the currency,” he also said.

    Aniagwu, however, commended  the committee members for their support.

    “They have even taken out time to go for oversight function just for them to see what we are doing.

    ”In 2025, we will interface with the committee more to enable us to deliver more dividend of democracy to our people,” he further said.

    Responding, the Chairman of the Committee, Mr Collins Egbetamah, commended the ministry and promised to look into their request.

    The Direct Labour Agency also appeared before the committee for its budget defence.

  • Delta 2025 budget bill passes second reading

    Delta 2025 budget bill passes second reading

    The Delta State 2025 Appropriation bill on Tuesday scaled second reading on the floor of the Delta State House of Assembly. The bill which came under intense debate by lawmakers, enjoined a unanimous support during plenary presided over by the Speaker, Rt. Hon. Emomotimi Guwor.

    In a motion by the Majority Leader, Honourable Emeka Nwaobi and seconded by the member representing Ika North East, Hon. Marilyn Okowa-Daramola, the House read the 2025 appropriation bill the second time.

    Leading the debate, the Majority Leader highlighted some major components of the proposed 2025 budget as it focuses on the objectives to include completion of ongoing projects, ensuring transparency and accountability.

    Nwaobi maintained that the State Governor, Right Honourable Sheriff Oborevwori through the budget proposal has demonstrated his passion to address the collective needs of Deltans as it relates to critical areas of concern such as agriculture, road infrastructure, health, Education and amongst others.

    One after the other, the lawmakers took turns to  speak on the merits of the 2025 appropriation bill and the need for its speedy passage.

    Some Lawmakers including Marilyn Okowa-Daramola, Ika North East; Oloye Pereotu, Burutu II; Deputy Speaker, Rt Hon. Arthur Akpowovwo; Charles Emetulu, Ndokwa West; Bridget Anyafulu, Oshimili South; James Augoye, Okpe and Perkins Umukoro, Sapele argued that the appropriation bill no doubt addresses the needs of Deltans, which they said the Governor Oborevwori’s led administration is committed to deliver through his MORE Agenda.

    They explained that the prudent management of the State’s resources by the current administration is a clear indication that the 2025 budget when passed by the House will become realistic.

    The bill enjoyed a unanimous support by the lawmakers through a voice vote as the Speaker, Right Honourable Emomotimi Guwor referred the bill the House Committee on Finance and Appropriation for further legislative consideration and to report back on Tuesday, 26 November 2024.

  • Gombe proposes N320bn budget for 2025

    Gombe proposes N320bn budget for 2025

    The Gombe State Executive Council on Monday approved N320 billion proposed estimate for the 2025 fiscal year.

    The Commissioner for Budget and Economic Planning, Salihu Baba-Alkali, disclosed this at the end of the council meeting chaired by Gov. Inuwa Yahaya.

    He said the proposed budget would be presented to the state House of Assembly on Tuesday by the governor.

    “At today’s sitting, the council has approved a total proposed budget for Gombe state to be spent in 2025, and the amount is N320 billion.

    “This is after the deliberations at the council, and we arrived at that amount. The proposed budget will be taken to the house on Tuesday by governor Yahaya, to be presented to the House of Assembly for their own constitutional duties and approval,” he said.

    Also, Mohammed Fawu, Commissioner for Water, Environment and Forest Resources, said the council approved N160 million monthly for the renewal of contract with Cosmopolitan Cleaners.

    Fawu said the contract would run for a year, giving a total sum of N1.92 billion. He said the renewal of the contract was to enable the company to sustain the sweeping of streets and drain desilt exercise in Gombe metropolis.

    According to him, the contract which takes effect from December 2024, will cover 191 kilometres in the metropolis.

  • UPDATE: Budget Minister releases details of 2025 budget

    UPDATE: Budget Minister releases details of 2025 budget

    The Federal Executive Council (FEC) on Thursday proposed the sum of N47.9 trillion for the 2025 fiscal year for submission to the National Assembly on Monday.

    The Minister of Budget and Economic Planning, Atiku Bagudu disclosed this after the Council meeting chaired by President Bola Tinubu at the Presidential Villa.

    According to him, the Council pegged the price of crude oil at 75 dollar per barrel and proposed N1400 as exchange rate to a dollar with  oil production put at 2.06million barrels per day.

    Bagudu said that the budget proposal included new borrowings of N9.2 trillion to finance the budget deficit in 2025.

    The minister added that with the growth rate of 3.19 per cent as at the second quarter of 2024, the Federal Government would continue to tackle Inflation, strengthen economic resilience and provide more support for the economy.

    He also said that government would continue to support high employment generation sectors, improve business environment and effective implementation of youths development and social investment programmes.

    Bagudu also disclosed that FEC reviewed  the 2024 Budget implementation and acknowledged that the review revealed promising in revenue collection and expenditure management.

    ”Despite lacks in prorated target, the overall trajectory shows that fiscal effort are on track with key non-oil streams performing better than anticipated.

    Similarly, the minister said FEC approved the medium term expenditure framework and the fiscal strategy paper to be submitted to the NASS.

    ”This is in addition to the bills that are already at the National Assembly, the Economic Stabilisation Bill and Tax Reforms Bill , which we believe we will have a very strong growth in 2025,” he said.

  • BREAKING: FG proposes N47.9 trillion as 2025 budget

    BREAKING: FG proposes N47.9 trillion as 2025 budget

    The federal government has proposed N47.9 trillion as the national budget for the year 2025. TheNewsGuru.com (TNG) reports the Minister of Budget and Economic Planning, Atiku Bagudu disclosed this on Thursday.

    Speaking after the federal executive council (FEC) meeting presided over by President Bola Tinubu, Bagudu said the government pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels per day (bpd).

    He also disclosed that the exchange rate was pegged at N1,400 per dollar, noting that the government is targeting a gross domestic product (GDP) growth rate of 6.4 percent.

     

    Details shortly…

  • Delta EXCO approves proposed N936 billion 2025 budget

    Delta EXCO approves proposed N936 billion 2025 budget

    Delta State Executive Council (EXCO)  Monday approved a proposed budget of N936 billion for the 2025 fiscal year.

    Briefing newsmen after the Exco meeting presided over by Governor Sheriff Oborevwori, the State Commissioner for Economic Planning, Mr Sonny Ekedayen, said the proposed budget comprised N587.4 billion, representing 62.75 percent for Capital Expenditure, while N348.7 billion, representing 37.25 percent, is for recurrent expenditure.

    Ekadeyan, who was flanked by Commissioner for Information, Dr Ifeanyi Osuoza, and his counterparts in Works (Rural and Riverine Roads), Mr Charles Aniagwu and Riverine Infrastructure, Hon. Ebikeme Clark, said the 2025 proposed budget was premised on an exchange rate of N1,300 per dollar.

    He said: “The budget size is N936,078,818,719 billion, broken down into capital and recurrent components of N587,361,060,084 billion capital, representing 62.75 per cent, while the recurrent component is N348,717,758,635 billion, representing 37.25 per cent.

    “This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.

    “This 2025 proposal is 29.12% larger than the current year’s budget, demonstrating our dedication to advancing the state’s development.

    “Our focus areas remain clear: agriculture; support for micro, small, and medium enterprises; youth empowerment; tourism; entertainment; social safety nets through poverty alleviation; physical infrastructure; healthcare; and education.

    “While this provides an overview of the proposed budget, it is still subject to review and will be officially transmitted to the State House of Assembly for further deliberation.”

    Ekedayen who remarked that the Oborevwori’s administration is anchored on transparency and accountability, added that the 2025 budget will be 100% organically funded without any borrowing.

    “A significant portion of the funding will come from the Federal Accounts Allocation Committee (FAAC) allocations, with our internally generated revenue serving as the secondary source.

    “To give a clearer perspective, we anticipate that our Internally Generated Revenue will reach at least N140 billion.

    “For the 2025 project proposals, this combination of Federal allocation and internally generated revenue will be the primary sources of funding.”

    Also speaking, Commissioner for Information, Dr Ifeanyi Osuoza, said “Exco approved a range of impactful projects that aim to benefit communities across the State.

    “With the two-year anniversary on the horizon, the Council emphasized the importance of future-oriented planning.

    “Accordingly, all heads of Ministries, Commissioners, and Permanent Secretaries have been directed to ensure rigorous oversight of their respective projects, with a strict mandate for high standards. There is absolutely no tolerance for substandard or incomplete work.

    “The Council also confirmed key appointments, including the appointment of HRM, Dr. Greg N. Oputa, as the Obi of Aboh in Ndokwa East, and Professor Epiphany Azinge, SAN, as the Asagba of Asaba Kingdom in Oshimili South Local government area.”

    He added that several infrastructure projects were also approved, covering critical areas including Rehabilitation of Ugwhrughelli/Ehidi road and construction of chief Lyn Ivie Akporiche street, Ughelli North LGA and Amechi Aguisi street in Asaba.

    “We also approved the construction of oil road/ old Okpe road in Jeddo Okpe Local Government. Exco also approved the construction of Ejeba road extention/Jelink road and the extention/Olomoro road in Isoko South Local Government.”

    Commissioner for Works, Rural and Riverine Roads, Mr Charles Aniagwu, disclosed that Exco directed that contractors whose projects had lasted for more than one year without mobilising to site, would be determined.

    He said Exco approved several new roads including the reconstruction of Uzere Asaba-Ase Bridge and adjoining Road in Ndokwa East and Isoko South Local Government Areas of the state.

    “Exco also approved six internal roads in Isoko South as well, as Alisimie-Owa-Nta road in Ika North East, while internal roads and drainage were also approved at NYSC Orientation Camp at Issele-Uku in Aniocha North Local Government Area.

    “We also approved the construction of access road to Airforce base at Osubi Airport, Opete Road by Plantation City to Opete Waterside in Udu Local Government Area among others, Aniagwu said”.

    He said the approvals were in line with Governor Oborevwori’s desire to open up the communities for businesses.

    On his part, Commissioner for Riverine Infrastructure, Hon. Ebikeme Clark said Exco ratified Governor Oborevwori’s approval for the construction of Model Secondary School in Oporoza and Construction of access road to Nigeria Maritime University Okerenkoko both in Warri South-West Local Government Area of the state.

    Clark said: “The Nigerian Maritime University is a Federal institution but the Governor deemed it fit to construct the road connecting the temporary site to the permanent site of the university.

    “The people of riverine areas are happy with the Governor and they believe that with time he would do more for them.”

  • Budget 2025: Kano allocates lion share to education

    Budget 2025: Kano allocates lion share to education

    The Kano State Commissioner for Planning and Budget, Alhaji Musa Shanono, has unveiled the 2025 budget proposal tagged “Budget of Hope, Human Capital and Economic Development.

    Governor Abba Yusuf presented the budget totals N549.16 billion to the State of Assembly for approval on Friday.

    Giving a breakdown of the budget, he said it aims to consolidate the policies implemented by the administration.

    According to him, it is focused on education, healthcare, infrastructure development, and economic growth.

    He explained that capital expenditure stood at N312.63 billion representing 57 per cent of the budget while recurrent expenditure stood at N236.53 billion of 43 per cent the budget.

    The Commissioner further said the recurrent revenue was projected at N449.09 billion, 18 per cent increase from 2024 while capital receipts is expected to be N76.07 billion, or  82 per cent increase from 2024.

    Giving the sectoral allocation breakdown, Shanono said education was allocated N168.35 billion. The figure represents 31 per cent of the proposed expenditure while health with N90.60 billion received 16.50 per cent of the budget.

    He further said that infrastructure development received N70.68 billion, or 12.80 per cent of the expenditure.

    Others, he said include: Agriculture N21.04 billion (3.80 per cent), Manufacturing, Commerce, Industry and Tourism N3.89 billion (1.22 per cent).

    Shanono noted that the budget prioritizes the payment of salaries and allowances to civil servants and political office holders, with N150.99 billion allocated for this purpose.

    He said N9.96 billion is allocated for debt service. He also said the Yusuf remained committed to using available resources to pursue major programmes and projects across the state.

  • Gov Yusuf presents N549bn 2025 budget to Kano Assembly

    Gov Yusuf presents N549bn 2025 budget to Kano Assembly

    Governor Abba Yusuf of Kano State has presented a budget of N549 billion for 2025 fiscal year to the State House of Assembly for passage into law.

    Presenting the proposal tagged ‘‘Budget of Hope, Human Capital and Economic Development’’ on Friday in Kano, Yusuf said it was aimed at consolidating and improving the wellbeing of the people of the state.

    He said that the budget consist of N312 billion for capital expenditure and N236 billion for recurrent expenditure.

    According to him, the 2025 budget, when approved, is projected to have a ratio of capital to recurrent 57:43 per cent respectively.

    The governor explained that most of the capital spending would be in the Social and Economic Sectors to the tune of N 461 billion.

    He also said that the Education Sector got a lion share of N168 billion more than the UNESCO and UN recommendations, adding that the figure represents 31 per cent, while the Health Sector received N90 billion representing 16. 50 per cent.

    He added that the fund would be spent on executing policies and programmes aimed at ensuring quality and education at all levels.

    He also said that N21 billion representing 3.83 per cent was earmarked for the Agricultural Sector, while Infrastructure Development got N70 billion representing 12.87 percent.

    “N23 billion representing four per cent was set aside for Security, Justice and Emergency Services, while Water Supply and Rural Development got N27 billion representing 4.96 percent,” he explained.

    The governor urged the lawmakers to ensure speedy passage of the budget, to enable the government continue to provide dividends of democracy to the people.

    The Speaker, Jibrin Falgore, assured the governor of speedy passage of the budget to create time for January to December budget circle.

    The Speaker also commended the governor for his stride in infrastructure development, security, health and education.

  • 2025 appropriation bill ready soon – Tinubu

    2025 appropriation bill ready soon – Tinubu

    President Bola Tinubu on Wednesday said that the 2025 appropriation bill would be ready before the National Assembly soon.

    The president disclosed this in Abuja, when he appeared at the joint sitting of the national assembly to celebrate the nation’s 25 years of unbroken democracy.

    “I will soon bring the 2025 appropriation bill before you; this is just for your information,” he said.

    He urged the national assembly not to risk the democratic experience it had enjoyed so far.

    ”We must not risk this democracy. We must build this nation so that the future of our great-grandchildren will be secured in terms of prosperity and progress,” he said.

    The president congratulated Nigerians for the 25 years of unbroken democracy.

    “Out of respect, I come to say thank you very much for building on this stage, building the institution and the country.

    ”You are a first and foremost leaders who speaks for our people, and you have been at the forefront of this.

    “This institution of the hallowed chamber represents our consciousness of freedom and sense of belonging”, he said.

    He said that the lawmaker just resounded the latest national anthem, “Nigeria, we hail thee” saying ”this is our diversity, representing all cradles and how we play together to be brothers and sisters.

    “Without this house, I probably may not find the path to the presidency I started before now. That is why I am giving all the respect to you so please let’s continue to collaborate and work together,” he said.

    The president said that no amount of aid from foreign countries would help to build the nation, and called on the lawmakers to work together to build the nation.

    “This should not only be about you, but for the generation yet unborn and charting a new path for the citizenry.

    Responding, the President of the Senate, Godswill Akpabio, said, “We will be expecting the 2025 appropriation as soon as possible.

    Akpabio said that henceforth, members would refer to themselves as brothers, ”so today we say Nigeria, we hail thee”.

    He said that there was no better place to go for the nation’s genealogy than the National Assembly.

    “We look forward to celebrating Democracy Day on June 12. Whatever way you choose to celebrate with us, we will take it.” Akpabio said.

    Also speaking, the Speaker of the House of Representatives, Rep. Tajudeen Abbas, described Tinubu as a true democrat and leader of the party.

    “I want you to know that we at NASS are very happy with your performance, and we are thankful for the relationship that has existed between us. It has been mutually beneficial.

    “We assure you that we will always support your noble objectives and collaborate with you. We thank you for bringing back the national anthem we grew up with.

    “By the time we sing it, you will understand why we must bring it back, line by line,” he said.