Politics
Budget crisis: NASS extends 2025 fiscal year to March
The approval followed marathon plenary sessions in both chambers, culminating in the passage of the Appropriation Act (Repeal and Re-enactment) Bills for the 2024 and 2025 fiscal years, transmitted to the legislature by President Bola Ahmed Tinubu last Friday.
At the Senate, the revised budgets were approved after the adoption of a consolidated report of the Committee on Appropriations, presented by its chairman, Senator Solomon Adeola (Ogun West).
The exercise, lawmakers said, was designed to align Nigeria’s budget architecture with current fiscal realities, address implementation gaps and restore discipline to the budgeting process.
Presenting the report, Adeola explained that the core objective of the bills was to repeal earlier budget provisions and replace them with revised figures that reflect prevailing revenue constraints, debt sustainability concerns and emerging national priorities.
According to him, the 2024 Appropriation Act was repealed from the original N35.005 trillion and re-enacted with an aggregate expenditure of N43.561tn, with details covering statutory transfers, debt servicing, recurrent and capital expenditure fully captured in the committee’s report.
On the 2025 fiscal year, Adeola disclosed that the earlier N54.99tn Appropriation Act was repealed and replaced with a revised total expenditure of N48.316tn, noting that part of the capital expenditure was rolled over into the 2026 fiscal year due to funding constraints highlighted during the presidential budget presentation.
He revealed that extensive engagement between the committee and the economic management team informed the decision to repeal and re-enact the budgets, particularly to address concerns around revenue performance, debt exposure and effective implementation.
Highlighting key adjustments, Adeola said an additional N8.5tn was injected into the capital component of the 2024 budget to fund special interventions in response to security, humanitarian and economic emergencies facing the country.
He added that the revised framework was structured to balance responsiveness with fiscal responsibility, ensuring that debt-related spending does not erode legislative oversight or fiscal prudence.
For the 2025 budget, the committee observed that N6.674tn was removed from the capital allocation and deferred to the 2026 fiscal year to enhance budget effectiveness in anticipation of improved revenue inflows.
Adeola also warned against the continued practice of running multiple budget cycles concurrently, stressing that extending the lifespan of one budget while another is already in force undermines fiscal discipline, transparency and accountability.
Based on these findings, the committee recommended that the Senate approved the repeal and re-enactment of the 2024 Appropriation Act to authorise total expenditure of N43.5tn from the Consolidated Revenue Fund, alongside the revised N48.3tn framework for the 2025 fiscal year, and extend the implementation of the 2025 budget to March 31, 2026.
Meanwhile, the House of Representatives also passed the revised N43.56tn 2024 budget and the N48.31tn 2025 budget after considering and adopting the report of its Committee on Appropriations.
The passage followed clause-by-clause consideration of the estimates at the Committee of Supply and their subsequent approval at plenary presided over by the Speaker, Rt. Hon. Tajudeen Abbas.
A breakdown of the revised 2024 budget shows that N1.74tn was earmarked for statutory transfers, N8.27tn for debt servicing, N11.26tn for recurrent (non-debt) expenditure, while N22.27tn is allocated to capital expenditure and development fund contributions for the fiscal year ending December 31, 2025.
For the revised 2025 budget, N3.64tn is provided for statutory transfers, N14.31tn for debt service, N13.58tn for recurrent (non-debt) expenditure, and N16.76tn for capital expenditure through development fund contributions.
Like the Senate version, the 2025 budget is expected to run until March 31, 2026.
President Tinubu, in his communication to the National Assembly, explained that the revisions were necessitated by the need to accommodate budgetary items previously omitted and to adjust capital implementation targets in line with Nigeria’s execution capacity and revenue realities.
He said the revised framework reflects a more realistic capital implementation benchmark of 30 per cent.
The president acknowledged persistent weaknesses in the implementation of the capital component of the 2024 budget, noting that these challenges significantly undermined infrastructure delivery and development projects nationwide.
According to him, extending the lifespan of the 2025 budget to March 31, 2026, would allow Ministries, Departments and Agencies adequate time to access and utilise the targeted 30 per cent capital releases.
Tinubu said the approach forms part of a broader fiscal reform agenda aimed at correcting structural flaws in Nigeria’s budgeting process, including the long-standing problem of overlapping budgets.
He stressed that ending the practice of running multiple budgets simultaneously would improve planning, enhance implementation, and strengthen transparency and accountability in public expenditure.
The president added that the revised budget framework is designed to deliver more credible budget performance, better coordination of government programmes and improved value for money for Nigerians.
By Okey Maduforo, Awka
Ahead of the 2027 National Assembly elections, a mass protest voting movement may be building up in Anambra South Senatorial District, following reported moves by members of major political parties to support the candidate of the Nigeria Democratic Congress (NDC), Chief Ebuka Onunkwo.
The development is said to be linked to grievances among some members of the All Progressives Grand Alliance (APGA), All Progressives Congress (APC), African Democratic Congress (ADC) and remnants of the Peoples Democratic Party (PDP) over the treatment allegedly meted out to Onunkwo during previous political contests.
Onunkwo, who had previously contested the Anambra South senatorial seat under APGA, later emerged as the NDC candidate for the 2027 election.
Although the ADC is currently embroiled in legal disputes over the authentic candidates and the conduct of its primary elections, some members of the APC and APGA are also reportedly dissatisfied with developments within their respective parties.
It was gathered that a section of APGA members, in particular, are backing Onunkwo as a form of protest over the conduct of the party’s senatorial primary, while some members of other parties are also believed to be considering voting for him irrespective of their party affiliations.
Confirming the growing support for Onunkwo, the Chief Executive Officer of NOWAS Oil and Gas Limited and a major stakeholder in Anambra South politics, Chief Ignesus Ikechukwudere Nnubia, said the NDC candidate currently enjoys widespread acceptability across party lines.
Nnubia said the growing support for Onunkwo had made his party affiliation less significant, arguing that voters would ultimately vote according to their conscience and assessment of the candidates.
He said, “At the moment, the number of APGA members with him and supporting him makes one wonder what is left of that party. Even the remnants of the PDP have pitched their tents with him, while members of the ruling APC at the national level are also behind him.
“So, the party that he belongs to is not a factor at all. You know that it is a game of numbers, and people are going to vote according to their conscience and not necessarily because of the political party they belong to.
“People are not bound to vote for their party, and some of them are ready and willing to vote for him.
“We are not talking about the party because he will surely get votes from the NDC, APGA, APC and even other political parties that are already closing ranks to support him as their candidate.”
Nnubia further described Onunkwo as the candidate currently standing tall among the contenders for the Anambra South senatorial seat, expressing confidence that his emergence would usher in what he described as a “new dawn” for the district.
He said political parties should not be the major consideration for voters, stressing that what matters most is the ability of elected representatives to improve the lives of their constituents.
According to him, political parties exist because of the people, and therefore the influence of party structures and incumbency has its limits during elections.
Nnubia said those factors would ultimately be tested by the electorate in the 2027 election, which he described as a contest in which voters’ choices would determine the outcome.
The Peoples Democratic Party (PDP) governorship candidate for the 2027 Ebonyi State election, Chief Ifeanyi Chukwuma Odii, has pledged to attract more than ₦2 trillion in private-sector investment to the state within six months of assuming office if elected.
Odii made the pledge while addressing supporters in Lagos ahead of the formal commencement of his campaign.
He said his investment strategy would cover key sectors of the Ebonyi economy, including mining, hospitality, real estate and manufacturing.
According to the PDP candidate, he has identified more than 2,000 prospective investors, each capable of investing about ₦1 billion in the state.
“I have over 2,000 people who can invest ₦1 billion each. When you multiply it, you will get over ₦2 trillion. This has been structured in such a way that all aspects of the economy will be involved,” Odii said.
He said the proposed investment drive was designed not only to inject capital into the state but also to create jobs, expand the productive base of the economy and provide opportunities for young people and entrepreneurs.
Odii said Ebonyi’s natural resources and strategic location placed it in a strong position to attract large-scale investments if its economic potential was properly harnessed.
He promised that his administration would prioritise private-sector participation, industrialisation and job creation while creating an enabling environment for both local and foreign investors.
The candidate also said existing businesses in the state would be supported to expand, while new investors would be encouraged to establish operations across various sectors.
His pledge comes amid growing political activities ahead of the 2027 governorship election, with economic development, employment generation and wealth creation featuring prominently in his campaign message.
The proposed ₦2 trillion investment target within six months, if achieved, would represent a significant boost to Ebonyi’s economy and rank among the most ambitious private-sector investment mobilisation plans proposed in the state.
By Okey Maduforo, Awka
The planned visit of the First Lady of Nigeria, Senator Oluremi Tinubu, to Anambra State has sparked controversy following a protest by the state Chairman of the All Progressives Congress (APC), Senator Emma Anosike, that the party was not informed about the visit.
Anosike said the APC in Anambra was never consulted or briefed about the proposed visit, adding that the party was taken aback by reports that the wife of the party’s national leader and presidential candidate, President Bola Ahmed Tinubu, would be visiting the state without recourse to the state chapter.
He said, “It is indeed strange that the First Lady of our presidential candidate is visiting Anambra State without recourse to the party in the state.
“The party wishes to state categorically that we are not part of the arrangements for the reception of our First Lady, Senator Oluremi Tinubu, because the party was never put in the picture.”
Anosike also dismissed the mantra that “The Progressives Are Working Together”, being canvassed by the All Progressives Grand Alliance (APGA), describing it as a smokescreen by the ruling party in Anambra to hijack President Tinubu’s re-election from the APC.
He said, “For instance, the APGA-led government in Anambra State did not interface with us on the organisation of the visit, and the party wonders if the progressives are indeed working together.”
The APC chairman, however, said the development would not compromise the First Lady’s visit, urging all APC members and supporters in the state to turn out and give Senator Oluremi Tinubu a warm welcome.
He stressed that despite the party’s reservations over the arrangements, APC members remained committed to welcoming the First Lady to Anambra State.
Former Deputy Governor of Bauchi State, Sagir Saleh, has resigned his membership of the All Progressives Congress (APC).
Saleh, who served as deputy governor under former Governor Isa Yuguda, announced his resignation in a letter submitted to the party leadership in Katagum Local Government Area.
He cited personal reasons for his decision but did not provide further details.
His exit comes amid growing disagreements within the Bauchi APC following the party’s 2027 governorship primary. Other prominent members, including former governorship aspirant Bala Jibrin and Sunusi Kunde, an associate of Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, have also reportedly left the party.
Jibrin, a former National Auditor of the defunct Congress for Progressive Change (CPC), resigned on August 31, 2026, following his opposition to the emergence of former Bauchi Governor Muhammad Abubakar as the APC’s 2027 governorship candidate.
He had criticised the primary process and questioned how the candidate emerged.
Kunde also resigned from the APC in August, submitting his resignation to the party chairman of Beti Ward in Misau Local Government Area.
The latest departures are coming as efforts continue to resolve internal disputes and disagreements among APC members in the state.
The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has raised the alarm over an alleged plot to assassinate former Anambra State Governor, Peter Obi, and former Vice President Atiku Abubakar ahead of the 2027 general election.
Ayodele issued the warning in a video shared on his verified X account on Sunday, urging both opposition figures to strengthen their security and remain vigilant.
The cleric did not identify those allegedly behind the purported plot but claimed that attempts were being made to eliminate Obi and Atiku.
According to him, divine intervention would prevent the alleged plan from succeeding.
“Obi and Atiku, be very conscious of your security. They are looking for any means to eliminate Obi and Atiku.
“But God will never allow it to happen. Watch out and be cautious about your security,” he said.
Ayodele also urged President Bola Tinubu to reconsider travelling to the United States, alleging that there were forces in America working against his political fortunes.
The claims come as political activities and realignments intensify ahead of Nigeria’s 2027 general elections.
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