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Tag: budget

Finance

Budget: Tinubu need not appear before Reps, says deputy spokesperson

The Deputy Spokesperson of the House of Representatives, Philip Agbese, has said President Bola Tinubu does not need to appear before the House to address concerns over the implementation of the 2025 Appropriation Act. He insisted that the constitutional responsibility for explaining budget execution rests with ministers and other relevant government officials. Agbese stated this […]

featured Finance

FG denies spending ₦8trn outside approved budget, faults IMF claim

The Federal Government has dismissed claims that it spent over N8 trillion outside the approved budget, describing the allegation as false and a misrepresentation of the 2026 Article IV Consultation Report by the International Monetary Fund. The government said reports suggesting that about two per cent of Nigeria’s Gross Domestic Product, was expended outside the […]

Finance

Nigeria omitted 2% GDP spending from budgets — IMF

Nigeria failed to record public spending equivalent to about 2 per cent of its Gross Domestic Product in recent official budgets, creating a gap between the country’s reported fiscal deficit and its actual financing needs, according to the International Monetary Fund. The disclosure was made on Wednesday by the IMF Resident Representative in Nigeria, Christian […]

Finance

Reps extend 2025 capital budget deadline to September 30

The House of Representatives on Monday approved a three-month extension for the capital component of the 2025 Appropriation Act, moving the implementation deadline from June 30 to September 30, 2026. The PUNCH reported that the adjustment is intended to give the Federal Government additional time to complete ongoing capital projects funded under the current budget. […]

Finance

Trump seeks $1.5trn 2027 defence budget amid Iran war

The White House sent a spending proposal to lawmakers Friday calling for a massive $1.5 trillion United States defense budget next year as it faces increased costs due to the war in Iran. The total year-on-year increase in Pentagon spending would be the largest since World War II, US media reported, although presidential budgets are […]

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 […]

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