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Tag: Senate

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Oluwo hails Tinubu over Senate grilling of SEDC boss

The Oluwo of Iwoland, Oba Abdulrosheed Akanbi, has said the recent grilling of the Managing Director of the South East Development Commission, Mark Okoye, by a Senate committee reflects the transparency and accountability being promoted under the administration of President Bola Tinubu. The monarch said probing the agencies will curb corruption in the country, stating […]

Finance

Lawmakers don’t fix their salaries, RMAFC does — Senate leader

Senate Leader, Opeyemi Bamidele, has dismissed claims that federal lawmakers determine their own allowances. Rather, he insisted that salaries and official vehicle entitlements for members of the National Assembly were fixed by Revenue Mobilisation, Allocation and Fiscal Commission. The News Agency of Nigeria reported that Bamidele was reacting to a court ruling that declared national […]

Business

Senate approves new tax framework on sugar-sweetened beverages

The Senate has approved a new excise duty framework for sugar-sweetened beverages, replacing the existing N10-per-litre levy with a retail price-based tax system and establishing a dedicated funding mechanism for public health initiatives. The approval followed the adoption of the report on the Customs, Excise Tariff, etc. (Amendment) Bill, presented by Senator Sani Musa, chairman […]

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, […]

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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 […]

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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 […]

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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 […]

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