Oil prices increased on Tuesday as the ongoing Iran-Israel conflict showed no signs of resolution. Brent crude rose by 5.29 per cent to $77.04 a barrel at 22.15 WAT, while US West Texas Intermediate crude increased by 5.28 per cent to $74.84 a barrel. According to Reuters, although oil flows remained uninterrupted, Iran partially suspended gas production at the South …

More Nigerians have continued to express outrage over the reported insertion of N6.93 trillion worth of projects into the 2025 national budget by members of the National Assembly without adequate justification, while the President Bola Tinubu administration keeps mum. About a week ago, BudgIT, a civic tech organisation promoting transparency and accountability in public finance, revealed that it uncovered 11,122 …

The Nigerian Senate, Wednesday passed the Rivers State 2025 budget for second reading. The budget which stood at N1,480,662592,442 trillion was passed for second reading after it was read by the Senate Leader, Senator Michael Bamidele Opeyemi. Opeyemi said the Senate has since assumed the powers of legislating for Rivers State having been under the State of Emergency. In his …

The Niger House of Assembly has approved N151.7 billion budget of 25 local government areas for the 2025 fiscal year. The legislation followed the adoption of a report by the chairman, House committee on local government and chieftaincy affairs, Bello Bako, at the plenary on Thursday. He said the estimate included N96,286,909,470.58 recurrent expenditure and N55,434,793,13 capital expenditure. Bako said …

The price of Bonny Light, Nigeria’s premium oil grade, yesterday, dropped by 5.09 per cent to $59.62 per barrel in the global market at the backdrop of the ongoing ripples created by the tariff war that has followed the series of tariff hikes announced by the United States of America early this week. The oil price was also hit by …

President Bola Tinubu has signed into law the N54.99 trillion 2025 Appropriation Bill. Tinubu signed the budget in the presence of principal officers of the National Assembly and other top government officials in a small ceremony in his office at the State House, Abuja, on Friday. The bill was passed by the two Chambers of the National Assembly on Thursday, …

I had wanted to write on the proposed 2025 federal budget when it was presented to the National Assembly for consideration late last year but other interests crept in. Immediately President Bola Tinubu sent a revised proposed budget to parliament increasing it from N49 trillion to N54 trillion, I knew it was time to visit the matter. President Tinubu’s first …

The House of Representatives, on Thursday, passed the ₦54.99 trillion 2025 Appropriation Bill. The presidency says the ₦54.99 trillion budget is structured to address key national financial commitments. Statutory transfers account for ₦3.645 trillion, ensuring funding for constitutionally mandated entities. A significant portion, ₦14.317 trillion, is allocated to debt servicing, reflecting Nigeria’s ongoing fiscal obligations. Recurrent expenditure, covering salaries, overheads, …

Former Vice-President Atiku Abubakar has warned the federal government that the $1.07 billion allocated to the health sector in the 2025 budget should not be misused. In a statement in Abuja, Atiku asked that mechanisms must be put in place to ensure the funds are used to improve healthcare services rather than vanish under suspicious circumstances. The Peoples Democratic Party …

The Civil Society Legislative Advocacy Centre (CISLAC) has expressed deep concerns over President Bola Tinubu’s proposal to increase the 2025 budget from ₦49.7 trillion to ₦54.2 trillion. While acknowledging reported additional revenues from key government agencies, CISLAC considers this move unprecedented and potentially unconstitutional. In a statement by the Executive Director of CISLAC, Auwal Ibrahim Musa (Rafsanjani), the organisation referenced …