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Tag: Senate

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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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Tinubu sends 2026-2028 MTEF to Senate for approval

President Bola Tinubu has transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate for its consideration and subsequent approval. This submission is a crucial step that precedes the presentation of the annual budget, as it is designed to establish the fiscal parameters that will govern the nation’s finances for the […]

Aviation

Senate summons Keyamo, stakeholders over 150% domestic airfare hike

The Senate has summoned the Minister of Aviation, Festus Keyamo, along with key industry stakeholders, for an urgent meeting following widespread public concern over the sharp rise in domestic airfares. The resolution followed a motion raised by Senator Buhari Abdulfatai, who warned that the escalating prices threaten national mobility and could disrupt travel ahead of […]

News

Oshiomhole urges stronger regulation of tech-driven financial institutions

Senator Adams Oshiomhole, representing Edo North, has called on the National Assembly to strengthen oversight of financial institutions operating beyond the traditional banking sector. He made the remarks on Thursday while contributing to the plenary debate on a bill aimed at amending the Banks and Other Financial Institutions Act to provide for the designation, registration, […]

Senate approves Yuguda, Cardoso, others as MPC members
News

Senate Summons ministers over $30m safe school initiative collapse

The Senate on Wednesday deepened its inquiry into the collapse of the Safe School Initiative, summoning Finance Minister Wale Edun, Education Minister Tunji Alausa, and Defence Minister Lt-Gen Christopher Musa (retd.) to explain why the $30m programme failed to shield schoolchildren from ongoing attacks. The invitations were issued by the Senate Ad-hoc Committee on the […]

Policy and Regulations

Senate moves to modernise Nigeria’s investment management framework

The Senate of Nigeria has taken a significant legislative step toward establishing a modern, transparent, and professionally driven framework for the Ministry of Finance Incorporated. Specifically, the Upper Chamber approved the second reading of “a bill for an act to repeal the MOFI Act and re-enact the MOFI 2025 Act,” which was sponsored by Senator […]

Senate approves Yuguda, Cardoso, others as MPC members
Business

Senate probes stamp duty funds nationwide

The Senate has launched an investigation into the collection and use of stamp duty revenues nationwide, a move lawmakers say is aimed at enhancing fiscal transparency and curbing revenue leakages. Speaking at a media briefing, Chairman of the Senate Public Accounts Committee, Senator Aliyu Wadada, said the probe seeks to uncover how stamp duty revenues […]

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Senate approves Tinubu’s N1.15trn domestic loan for 2025 deficit

The Senate has approved President Bola Tinubu’s request to borrow an additional N1.15 trillion from the domestic debt market to finance the 2025 budget deficit. This approval was granted on Wednesday after the presentation and deliberation of the Report of the Committee on Local and Foreign Debts Borrowing Programme to Fund the 2025 Budget Deficit, […]

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

Senate pledges timely funding for nationwide immunisation efforts

The Senate Committee on Health has reaffirmed its unwavering commitment to bolstering immunisation efforts across Nigeria, specifically pledging to ensure the timely release of funds necessary to support frontline workers and enhance vaccination drives nationwide. This commitment was made by the committee’s Chairman, Dr. Ipalibo Harry-Barigo, on Monday during an outreach and sensitisation exercise held […]

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Economy

US Senate to end 40-day FG shutdown

The United States Senate appeared close to advancing a measure on Sunday designed to reopen the federal government, as a 40-day shutdown continued to sideline workers, disrupt food aid, and strain the nation’s air travel system. Senators were expected to vote late Sunday on beginning debate on a House-passed bill. This bill would be amended […]

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