Breaking News
See Reasons the House Repealed and Re-enacted 2024, 2025 Appropriation Acts —Hon. Philip Agbese
The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has explained that the recent move to repeal and re-enact the 2024 and 2025 Appropriation Acts was aimed at improving Nigeria’s budgeting framework, enhancing transparency, and addressing practical implementation challenges.
Speaking in an interview on Friday, Agbese noted that the lawmakers took the action to bolster accountability across all levels of government while reducing the oversight burdens that often arise during budget execution.
He emphasized that the repeal and re-enactment would help create a more structured and predictable fiscal process for the country.
“Essentially, this step is to align Nigeria’s budgeting system with global best practices. It also seeks to promote transparency and accountability, while easing the pressure of oversight during implementation,” Agbese said.
The lawmaker highlighted that the move would set the stage for a unified national budget cycle after March 31, 2026, a reform he described as crucial for smooth execution by the Executive branch.
Agbese praised the House Committee on Appropriations, led by Hon. Abubakar Bichi, for their prompt and diligent work on the re-enactment bill submitted to the House by President Bola Ahmed Tinubu.
He explained that the committee’s swift action enabled the bill’s consideration and passage before lawmakers left for the Christmas and New Year recess.
According to Agbese, the reform will also address the problems associated with running multiple budgets, which can create fiscal confusion and dilute government resources across various projects, often resulting in poor outcomes.
He cited the underperformance of the 2025 capital budget as an example, attributing it to the simultaneous running of multiple budgets.
“Adopting a single budget after March 31, 2026, will allow the Executive to implement projects efficiently. A unified funding system makes cash flow management easier and ensures timely releases,” he added.
Agbese also commended President Tinubu for his leadership in supporting fiscal reforms, noting that the President’s dedication to budget discipline and economic stability provides reassurance.
The President, during the presentation of the 2026 budget, reiterated that the era of multiple budgets in Nigeria would end by March 2026. From April, the country will operate under a single budget anchored on a unified revenue cycle.
According to President Tinubu, the reform aims to resolve long-standing issues such as abandoned projects, unpaid contractual obligations, and overlapping budgets
“This is a complex challenge. Abandoned projects, unpaid obligations, and multiple budget cycles have long been a problem. By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. There will be no overlaps or rollover practices,” he said.
Agbese described Tinubu as a responsive leader, noting that the decision to end multiple budgets responds to calls from lawmakers and experts who have long criticized the practice for encouraging fiscal indiscipline.
The lawmaker also praised the President’s economic team, particularly the Ministry of Budget and Economic Planning, for developing a budget framework that accurately reflects Nigeria’s economic realities.
“We commend the economic team, especially the Budget and Planning Ministry, for preparing a budget plan that considers the nation’s realities and the economic interests of various societal segments,” he said.
Agbese stressed that the House remains committed to reforms that strengthen public financial management, improve service delivery, and restore public confidence in the budgeting process.
Breaking News
Ogun State Government Announces Pension, Gratuity Backlog Clearance Between 2012 and 2020
The Ogun State Government has announced the clearance of pension and gratuity arrears owed to workers who retired between 2012 and 2020, reaffirming its commitment to the welfare of retirees.
The Economic Adviser and Commissioner for Finance, Dapo Okubadejo, disclosed this on Tuesday during a media parley organised by the Ogun State Ministry of Budget and Planning.
Okubadejo explained that the backlog was linked to the Defined Benefits Scheme, under which retirees receive monthly pension payments, stressing that the present administration of Governor Dapo Abiodun has not defaulted on pension obligations since assuming office.
“Since the inception of this administration, we have not missed a single month of pension payment. What we inherited were arrears tied to the Defined Benefits Scheme,” he said.
According to him, annual pension payments rose from ₦6.7 billion in 2019 to ₦20 billion in 2025, with projections showing a possible increase to ₦40 billion by 2029.
He disclosed that the state had so far paid ₦23.3 billion in gratuities covering retirees from 2012 to 2020, alongside ₦32.8 billion in outstanding gratuities for local government retirees inherited by the administration.
Okubadejo added that between 2019 and July 2, 2025, the state disbursed ₦93.26 billion in pensions under the Defined Benefits Scheme and ₦94.78 billion to local government pensioners.
He assured that the remaining backlog would be cleared as Internally Generated Revenue (IGR) continues to improve, noting that over 300 workers who retired in July 2025 are currently receiving six-month palliatives pending the completion of their pension documentation.
The commissioner also described the newly approved Additional Pension Benefits (APB) as the first of its kind in Nigeria, adding that amendments to the state’s pension law would be pursued to formally integrate the scheme.
On the state’s fiscal outlook, Okubadejo revealed that the 2026 budget increased from ₦1.054 trillion in 2025 to ₦1.668 trillion, while Ogun’s economy expanded from ₦3.5 trillion in 2019 to ₦18.96 trillion in 2026.
He added that IGR grew from ₦50 billion in 2019 to ₦240 billion in 2025, with projections of ₦512 billion this year.
Also speaking, the Commissioner for Budget and Planning, Olaolu Olabimtan, said the 2026 budget reflects strong fiscal reforms, noting an 85 per cent budget execution rate in 2024 and sustained financial stability.
Other commissioners highlighted sectoral achievements, including massive road construction, increased healthcare funding, rail extension plans, education support programmes, and expanded housing projects across the state.
African Democratic Congress, ADC, chieftain, Peter Obi, has urged Nigerians to focus on the country’s future and vote for a change in leadership.
Obi spoke at a meeting with Hausa/Fulani chiefs in Abuja on Wednesday.
“We have to talk about the future of our country. All of you know what is happening to our country today. That’s why we are campaigning that you vote out this government,” he said.
He described the situation in Nigeria as dire, citing insecurity, hunger and hardship.
“today we have insecurity across Nigeria. We have hunger across Nigeria. We are suffering across Nigeria. The only thing that is working in Nigeria today is bad news. Every morning you wake up is bad news,” Obi stated.
The former Labour Party presidential candidate said a new administration would prioritize social services.
“We’re urging you to vote for a change and bring a new Nigeria, where our children will be in school. Our hospitals will work,” he added.
Obi also questioned government spending priorities, particularly in the health sector.
“today, if you’re sick in Nigeria you’re praying to Almighty God because we’re now in a country where our president spends 360 billion to buy and refit his plane and spends 36 million in capital vote for the Ministry of Health. There’s nothing working,” he said.
He appealed to Nigerians to use their votes to usher in what he described as a “new Nigeria” focused on improving citizens’ welfare and restoring key public services.
-
Breaking News2 months agoBreaking News: Nigerian Air Force Reportedly Kills 750 Terrorists in Borno State
-
Breaking News3 months agoTerrorists Want ₦2m ‘levy’ in Katsina Community Despite Peaceful Agreement
-
Breaking News4 months agoEx-EFCC Exhibit Keeper Kaduna Zonal Directorate, Allegedly Steals ₦22m
-
Breaking News3 weeks agoEmergency: Arik Air Flight Landed at Benin Airport
-
Breaking News5 months agoNiger Delta Group hails Tinubu, NUPRC for ₦373bn host community fund and 536 life-changing projects
-
News In Diaspora1 month agoNigerian JTF Arrests Woman Supplying Drugs to Boko Haram
-
Breaking News3 weeks agoNew Young Players are Coming in Super Eagles – Ibrahim Gusau to Fans
-
Business3 weeks agoBREAKING: No Fewer Than 28 Ships to deliver Petrol, other Commodities at Lagos Ports