Senate President Godswill Akpabio (L) with Speaker of the House of Representatives, Tajudeen Abbas (R) during the presentation of the 2025 Budget proposal by President Bola Tinubu on Wednesday, December 18, 2024 in Abuja The National Assembly on Thursday passed the ₦54.99trn 2025 Appropriation Bill. The bill was passed separately by the Senate and the House of Representatives. A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn. The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%. Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trn to N54.2trn, seeking approval from the Senate and the House of Representatives. The Chairman of the House
Author Archives: Kayode Oyero
Jan
The Dangote Refinery was commissioned in May 2023. Dangote Refinery has said that the recent adjustment in the company’s ex-depot price of petrol “is directly related to the significant increase in global crude oil prices”. The company assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina in a statement on Sunday said, “While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices, which has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to
Nov
Alex Ikwechegh’s action is under probe. The Minority Leader of the House of Representatives, Kingsley Chinda, says his colleague, Alex Ikwechegh, may suffer “double tragedy” for assaulting an e-hailing driver Stephen Abuwatseya in the nation’s capital Abuja late October. “Presently, he is being prosecuted. He is at the Magistrate Court. The House has also sent him to the disciplinary committee on the same issue,” Chinda said on the Sunday edition of Inside Sources with Laolu Akande on Channels Television. “Perhaps, he might suffer double jeopardy if he is undergoing prosecution and disciplined in the House.” Chinda said he has spoken with his colleague and he has shown remorse and apologised to Nigerians. “But in essence, I don’t think anybody will agree that that is a standard for parliamentarians. They call