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Tag: budget

Finance

BudgIT report exposes states’ poor LG budget transparency

A new report by BudgIT has revealed that only 10 states in Nigeria have publicly accessible annual budgets for their Local Government Areas. The report, titled “The Missing Tier: Mapping Local Government Budget Transparency in Nigeria,” found that while six states provide partial data, as many as 18 states publish no LGA budget information at […]

Opinion

BudgIT urges open budgeting for Nigeria’s climate resilience

BudgIT Foundation, a civic and fiscal policy advocacy group, has emphasised that transparent budgeting processes and strong climate finance reporting are vital for the nation to mount an effective response, as Nigeria grapples with the escalating effects of climate change and fragile public finance structures, The organisation highlighted this position at a stakeholder workshop held […]

Economy

Tinubu seeks annulment, extension of 2024, 2025 budgets

President Bola Tinubu has asked the House of Representatives to repeal and re-enact the 2024 and 2025 Appropriation Acts and to extend the implementation of the 2025 budget to 31 March 2026. The request was contained in a letter written by the President and read on the floor of the House on Friday by the […]

Finance

Adamawa SEC approves N583bn budget for 2026 fiscal year

The Adamawa State Executive Council has approved a budget proposal exceeding N583 billion for the 026 fiscal year. The Council granted the approval during its meeting on Friday, which was chaired by the Deputy Governor, Professor Kaletapwa Farauta. The total budget stands at N583,331,380,496. It features a 64.07 per cent provision for capital spending, amounting […]

Reps proposes bill to ensure timely salary payments
Finance

Reps summon finance, budget ministers over poor budget implementation

The House of Representatives has summoned the Minister of Finance, Mr. Wale Edun, and the Minister of Budget and National Planning, Mr. Atiku Bagudu, over concerns regarding poor budget implementation. The summoning took place after a meeting held on Tuesday. The House held a closed-door session with both Ministers, as well as the Accountant-General of […]

featured Finance

Cross River proposes ₦780.59bn budget for inclusive growth

Cross River State Governor, Senator Bassey Edet Otu, has proposed a total budget size of ₦780.59 billion for the 2026 fiscal year. According to him, the budget, christened “Budget of Inclusive Growth,” is designed to consolidate the gains of his administration’s “People First” philosophy. Presenting the Appropriation Bill before the House of Assembly on Tuesday, […]

Finance

Lagos’ ₦3.355trn 2025 budget hits 80% performance – Omotosho

The Lagos State Government has announced that its ₦3.366 trillion 2025 budget has achieved an impressive 80 percent cumulative performance as of October. Gbenga Omotoso, Commissioner for Information and Strategy, disclosed this during a weekend media chat at Alausa, Ikeja, noting that both revenue generation and capital project execution were performing strongly. Omotoso provided the […]

BudgIT raises alarm over allocations in 2024 budget
Economy featured

FG ends multiple budget extensions to restore fiscal normalcy

The Federal Government has concluded plans to phase out multiple budgetary fiscal operations, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. Multiple budgetary fiscal operations entail the implementation of more than one Appropriation Act simultaneously. In the current regime, about three Appropriation Acts are running concurrently, a practice […]

Finance

Akwa Ibom proposes ₦695bn to inflate budget to ₦1.7trn

Governor Umo Eno is set to blow up Akwa Ibom state 2025 budget from the originally signed ₦980 billion to ₦1.7 trillion with a ₦695 billion supplementary proposal for the state House of Assembly’s consideration. The decision was formalised on Friday at the State Executive Council Meeting in Uyo where the Governor also declared a […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
Finance

Nigeria is no longer borrowing to fund budget, Tinubu declares

President Bola Ahmed Tinubu announced on Tuesday that the economy has stabilised and the revenue target set for this year was met as of last month. With this improved revenue situation, he added that the government now has enough resources to carry out its programmes without needing to borrow. The President made these remarks when […]

Why CBN won't print naira again - Budget minister
Banking

Why CBN won’t print naira again – Budget minister

The Federal Government has stated that it will no longer permit the Central Bank of Nigeria to print money through Ways and Means to pay the budget deficit in the face of revenue pressures on the 2024 national budget. The Minister of Budget and National Planning, Atiku Bagudu, revealed this information in an interview with journalists […]

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