President Bola Ahmed Tinubu has forwarded the Appropriation (Repeal and Re-enactment) Bill 2024–2025 to the House of Representatives, seeking legislative approval for a N43.56 trillion spending plan aimed at ending the long-standing practice of running multiple budgets simultaneously.

The bill, transmitted in line with constitutional appropriation procedures, authorises the withdrawal of N43,561,041,744,507 from the Consolidated Revenue Fund of the Federation for the fiscal year ending December 31, 2025.

Deputy Speaker of the House, Benjamin Kalu, read the President’s letter during Wednesday’s plenary.

He disclosed that the proposed expenditure comprises N1.74 trillion for statutory transfers, N8.27 trillion for debt servicing, N8.11 trillion for recurrent non-debt spending, and N22.28 trillion allocated to capital expenditure and development fund contributions.

Multiple and overlapping budget cycles have remained a persistent feature of federal fiscal management, often justified by the government and the National Assembly as necessary to complete ongoing projects.

Under the Tinubu administration, lawmakers have approved several overlapping budgets, further entrenching the practice.

In 2024 alone, Nigeria operated three budgets: the N21.8 trillion 2023 budget, the N2.17 trillion 2023 supplementary budget, and the N28.7 trillion 2024 appropriation.

Although the first two were passed under the administration of late former President Muhammadu Buhari, Tinubu extended their capital components initially to June and later to December 2024, even as the 2024 budget was already in operation.

A similar pattern continued in 2025, with the capital component of the 2024 budget extended twice, first to June 2025 and subsequently to December 2025.

As a result, the country is currently implementing two budgets concurrently: the extended 2024 budget and the 2025 budget estimated at N54.2 trillion, which lawmakers increased by N7 billion from the President’s original proposal.

In his letter, Tinubu said the new bill is intended to halt the cycle of multiple budget implementations, which he noted often complicates fiscal planning and delays the execution of capital projects.

He said the legislation would help achieve significantly improved performance levels for the 2024 and 2025 capital budgets, signalling a shift toward a more capital-driven expenditure framework.

The President explained that the bill also provides a transparent and constitutionally sound mechanism for consolidating and appropriating urgent expenditures incurred in response to emergencies, including spending related to national security and public welfare, while maintaining fiscal discipline.

According to Tinubu, the proposed law strengthens accountability by mandating that appropriated funds are released and utilised strictly for the purposes approved by the National Assembly.

Any virement or alteration of approved spending, he said, would require prior legislative consent.

He added that the bill establishes provisions for correcting genuine errors through corrigenda, requires separate documentation of excess revenues, restricts their expenditure to National Assembly approval, and mandates periodic reporting on fund releases and revenues generated by government agencies.

Tinubu urged lawmakers to give the bill expedited consideration, stressing its importance to improving budget discipline, transparency and effective implementation of government programmes.

Rivers State Governor, Siminalayi Fubara, has disclosed that his administration met more than N600 billion in the state’s coffers after the period of emergency rule, insisting that public funds under his watch are being managed prudently and transparently.

Fubara said he left about N300 billion in government accounts before President Bola Tinubu declared emergency rule in the state, stressing that official records clearly support his claim.

The governor spoke on Wednesday at the commissioning of the 14.2-kilometre Obodhi–Ozochi Road linking Ahoada East and Ahoada West Local Government Areas.

His comments followed recent criticisms from the Speaker of the Rivers State House of Assembly, Martin Amaewhule, who raised concerns over the state of public schools and questioned how funds left behind after the emergency rule were being utilised.

Amaewhule had earlier stated during plenary that the immediate past Sole Administrator, Rear Admiral Ibok-Ete Ibas (retd.), handed over more than N600 billion when emergency rule was lifted.

He also decried the poor condition of Township State School 1 along Moscow Road, Port Harcourt, noting the absence of basic facilities such as toilets despite the school’s proximity to Government House.

The Speaker made the remarks while responding to a report by the House Committee on Education, chaired by Aforji Igwe, following an inspection of the school.

He queried the state government’s spending priorities, a development that appeared to revive tensions between the executive and legislative arms.

Responding indirectly, Fubara said all state funds were being deployed responsibly and that his administration’s financial records were open to scrutiny.

“I want to say to the whole world that when we left during the emergency rule, our records were intact. We left over N300 billion, and when we returned, we met about N600 billion and more,” the governor said.

He added that no allegations of misconduct could be linked to him, assuring residents that details of government spending would be made available and verifiable.

Fubara promised that within six months, his administration would present clear evidence of how public funds were being utilised.

He explained that some criticisms stemmed from his government’s preference for completing projects before commissioning them, rather than engaging in elaborate flag-off ceremonies.

“We don’t believe in fluffing off projects. We believe in commissioning them,” he said, adding that several impactful projects were ongoing across the state.

On the Obodhi–Ozochi Road, the governor noted that the project was initiated under his predecessor, Nyesom Wike, as part of preparations for the 2023 general elections through a former lawmaker and then Chief of Staff, Edison Ehie.

He said his administration not only completed the project but expanded its scope.

Fubara also approved the community’s request for additional internal roads and urged Ehie to mobilise the large crowd at the event in support of President Bola Tinubu ahead of the 2027 elections.

“This crowd I’m seeing should be translated into the support we will give to Mr President come 2027,” the governor said.

Farouk Ahmed has resigned from his position as Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority following allegations of corruption made against him by the Chairman of Dangote Group, Aliko Dangote.

The development was confirmed on Wednesday by presidential spokesperson, Bayo Onanuga, who disclosed the resignation in a brief statement.

Dangote had earlier accused Ahmed of financial impropriety and formally petitioned the Independent Corrupt Practices and Other Related Offences Commission, requesting a probe into the allegations.

Details shortly…

A member of the House of Representatives, Hon. Abdulsamad Dasuki (PDP, Sokoto), has raised concerns that the tax laws currently available to the public are not the same as those passed by the National Assembly.

Dasuki drew the attention of the House to the issue on Wednesday while rising on a Point of Privilege under Order Six, Rule Two of the House Rules.

He said the development amounted to a violation of his legislative rights and a serious breach of parliamentary procedure, noting that the contents of the gazetted tax laws do not reflect what lawmakers debated, voted on, and approved on the floor.

According to the lawmaker, he spent three days after the passage of the tax reform bills examining the gazetted versions alongside the Votes and Proceedings of the House, as well as the harmonised copies adopted by both chambers of the National Assembly.

He said the review revealed clear discrepancies.

“I was present, I cast my vote and it was duly counted, yet what I am seeing now is completely different,” Dasuki said.

He added that copies of the laws obtained from the Ministry of Information did not correspond with the versions approved by the House of Representatives and the Senate.

Dasuki stressed that his intervention was not aimed at moving a motion but at alerting the House to what he described as a grave constitutional and legislative anomaly.

He called on the Speaker, Tajudeen Abbas, to ensure that all relevant documents, including the harmonised bills, the Votes and Proceedings of both chambers, and the gazetted laws in circulation, are presented before the Committee of the Whole for thorough scrutiny.

“Mr Speaker, all members should be allowed to see what is contained in the gazetted copies and compare them with what was passed on the floor so that any necessary corrections can be made. This goes to the heart of our Constitution and our laws,” he said.

Responding, Speaker Abbas, who presided over the plenary, said he had taken note of the Point of Privilege and assured lawmakers that appropriate action would be taken.

President Bola Ahmed Tinubu had, on June 26, 2025, signed four tax reform bills into law.

The new legislations are the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act and the Joint Revenue Board Act.

The laws are intended to overhaul Nigeria’s tax system by boosting revenue generation, improving the business environment and strengthening tax administration across federal, state and local governments.

Under the new framework, the Value Added Tax rate remains at 7.5 per cent, despite earlier proposals to raise it to 12.5 per cent, although the scope of VAT has been widened.

Essential goods and services such as food, education, healthcare, public transport, residential rent and exports are zero-rated to cushion inflationary pressures.

The revenue allocation formula for VAT has also been adjusted, with 30 per cent now shared based on consumption, 50 per cent distributed equally among states, and 20 per cent allocated according to population.

The Governor of Enugu State, Dr Peter Ndubuisi Mbah, has approved a fresh round of appointments involving commissioners-designate, board chairmen, executive secretaries and other senior officials across various government agencies.

The appointments were announced in a statement issued on Wednesday by the Secretary to the State Government, Professor Chidiebere Onyia.

According to the statement, the newly appointed commissioners-designate are Barrister Osinachi Nnajieze and Dr C. O. C. Egumgbe.

Their names have been forwarded to the Enugu State House of Assembly for screening and confirmation.

Other senior appointments approved by the governor include Kenechukwu Nnamani as Managing Director of the Enugu State Investment Development Authority; James Chukwuemeka Mbah as Executive Secretary of the Enugu State Scholarship and Education Loans Board; Dr Eric Oluedo as Executive Secretary of the Local Government Staff Pensions Board; Mrs Sylvia Onwubuemeli as Executive Secretary of the Enugu State Library Board; and Monday Diamond Ani as State Coordinator of the Community and Social Development Agency.

Governor Mbah also approved the reconstitution of the Governing Board of the Enugu State Universal Basic Education Board.

Members of the board include Hon. Afam Nnaji, Dr Mrs Uche Eze, Dr Mrs Oge Uka, Mrs Rita Chimaobi Ihemeje representing Enugu West Senatorial District, Mrs Justina Ugwu representing Enugu North Senatorial District, Dr Nnenna Ogbonna representing Enugu East Senatorial District, Theophilus Nweke representing the Nigeria Union of Teachers, and Mrs Juliet Ifesinachi Ani representing the State Women Group. Dr Luke Ohabuenyi Ezema was appointed Secretary of the board.

Additional appointments include Dr Mrs Nneka Onyebuchi and Patrick Onwe as members of the Post Primary Schools Management Board; Barrister Nwabueze Ugwu as Chairman of the Governing Council of the Enugu State College of Education Technical; Chief Nwabueze Nnamani as Board Chairman of the Enugu State Housing Development Corporation; Richard Onaga as Managing Director of the Enugu State Waste Management Agency; and Hon. Bob Itanyi as Managing Director of the Enugu State Transport Company.

Others are Barrister Richard Agu as Board Chairman of Enugu Air; Rt. Hon. USA Igwesi as Board Chairman of the New Enugu Smart City Development Authority; Hon. Chika Igwesi as Chairman of the Enugu State Road Maintenance and Development Agency; Hon. Chidera Odo as Chairman of the Enugu State Roads Fund; Hon. Barrister Manfred Nzekwe as Executive Secretary of the Enugu State Roads Fund; Dr John Egbo as Managing Director of the Enugu East Zone Transport Terminals; Hon. Prince Emeka Mamah as Managing Director of the Enugu North Zone Transport Terminals; and Rev. Chimaobi Aninwene as a member of the Enugu State Christian Pilgrims Welfare Board.

The statement noted that while the appointments of the commissioners-designate are subject to legislative confirmation, all other appointments take immediate effect.