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Tag: Senate

Electricity featured

Senate confirms Joseph Tegbe as new power minister

The Senate on Wednesday confirmed Mr Joseph Tegbe as Minister of Power after he successfully passed his screening during plenary. According to the News Agency of Nigeria, his confirmation followed an extensive consideration by the Senate Committee of the Whole. During deliberations, lawmakers expressed concern over Nigeria’s persistent electricity challenges, noting that although installed generation […]

Policy and Regulations

Senate holds hearing on bill to establish revenue mgt institute

The Senate has held a public hearing on a bill seeking to establish the Chartered Institute of Revenue and Fiscal Management of Nigeria, marking a major step in the legislative process for the proposed institution. The bill, titled “Chartered Institute of Revenue and Fiscal Management of Nigeria (Establishment) Bill, 2025,” was sponsored by Senator Adamu […]

Senate approves Yuguda, Cardoso, others as MPC members
Business

Senate okays Yuguda’s appointment as CBN deputy governor

The Nigerian Senate on Wednesday confirmed Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria after a swift screening in Abuja. His confirmation followed consideration of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which conducted a brief screening and endorsed his nomination. Chairman of the committee, […]

featured Finance

Senate approves $6bn external loans for Tinubu

The Senate has approved the request of President Bola Tinubu to go for external loans totalling $6 billion. The approval came barely three and a half hours after the senate president, Godswill Akpabio, read the letter from the president, seeking the approval. The Senate approved the loans following the presentation and consideration of the report […]

Finance

Women affairs minister urges Senate to boost 2026 budget

The Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, has appealed to the Senate to increase the N134.2 billion proposed for the ministry in the 2026 fiscal year. The minister said an upward review would enable the ministry to implement programmes aimed at addressing the multifaceted challenges facing women across the country. Meanwhile, the […]

featured Finance

Senate rejects AGF’s 2026 budget over unpaid contractors, zero releases

The Accountant-General of the Federation, Shamseldeen Ogunjimi, faced intense scrutiny on Thursday. The Senate Committee on Finance declined to consider the 2026 budget proposal of his office. The decision stemmed from poor budget releases and mounting unpaid liabilities to contractors. The AGF heads Nigeria’s Treasury House. He is responsible for the custody, management, and disbursement […]

Economy featured

Senate hails FG’s launch of $7.7trn Halal economy plan

The Senate has hailed the Federal Government for the bold and forward-looking launch of Nigeria’s National Halal Economy Strategy. This strategic policy initiative aims to position the nation to competitively access the estimated $7.7 trillion global halal market and accelerate economic diversification. In a statement signed yesterday by the Chairman of the Senate Committee on […]

featured Finance

Senate fixes March 17 for ₦58.47trn 2026 budget passage

The Senate Committee on Appropriations has tentatively scheduled Tuesday, March 17, 2026, for the final consideration and passage of the N58.47 trillion 2026 Appropriation Bill. To achieve this timeline, the committee held a special session on Friday and approved February 2 to 13, 2026, for budget defence by Ministries, Departments and Agencies (MDAs) at the […]

featured Finance

Senate approves revised ₦43.561trn 2024 budget framework

The Senate has approved a revised ₦43.561 trillion 2024 Appropriation Act alongside a reworked 2025 budget framework, following the passage of the Appropriation (Repeal and Re-enactment) Bills. The bills were considered at the Committee of Supply stage and later at plenary, where they were passed through a voice vote. Senators described the exercise as a […]

NASS inflated 2025 budget with 11,122 'ghost' projects — BudgIT
Business

Senate reviews 2025 budget, cuts spending to ₦43.56tn

The Senate on Wednesday deliberated on a bill to repeal and re-enact the 2024/2025 Appropriations Act, proposing a revised budget of ₦43.56 trillion. President Tinubu had earlier transmitted the Appropriation (Repeal and Re-enactment) Bill 2024 to the National Assembly for consideration. The bill was passed for second reading during the plenary session. Under the proposed […]

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