Connect with us

NEWS

FG To Kick Off 2025 Budget Implementation By Month-End

Published

on

The Federal Government has confirmed plans to roll out the implementation of the 2025 national budget by the close of September, signaling the end of the 2024 fiscal operations.

This was disclosed on Thursday in Abuja by the Director-General of the Budget Office of the Federation, Dr. Tanimu Yakubu, during the 3rd Quarter Ministerial Stakeholders and Citizens Engagement Forum, convened by the Ministry of Budget and National Planning.

The N54.99 trillion financial plan for 2025, described as the “Budget of Restoration,” is targeted at driving growth in critical sectors, boosting public service delivery, and attracting fresh investments into the economy.

SEE ALSO: BudgIT Slams Tinubu Govt For Failing To Release Quarterly Budget Reports Since 2023

Yakubu explained that the success of the fiscal agenda would hinge on accountability and financial discipline.

He stated, The implementation of the 2025 budget will begin by the end of September. The 2025 budget, referred to as the ‘Budget of Restoration,’ aims to address key sectors, boost economic growth, and improve public services. Effective execution and fiscal discipline will be vital to the success of this budget.”

Underscoring the role of public participation, the DG reminded Nigerians of their ownership of state resources.

Nigerians are the ultimate owners of public resources,” he said, while announcing plans to simplify budget documents, translate them into local languages, and strengthen community monitoring mechanisms.

Yakubu further identified persistent weaknesses in the nation’s fiscal framework, ranging from overambitious revenue forecasts in the oil industry, to the financial consequences of the Petroleum Industry Act, flaws in project financing and tax credit recognition, and the huge cost of debt servicing, estimated at N14.3 trillion in the 2025 fiscal year.

He outlined the government’s broader economic vision of positioning Nigeria as a $1 trillion economy by 2030. Proposed strategies include ward-level development projects across 8,809 wards, sweeping tax reforms, stricter financial discipline, and innovation partnerships such as the $30.9 million Nigeria-Japan start-up programme.

On his part, Minister of Budget and National Planning, Senator Atiku Bagudu, stressed that data remains central to government decision-making.

Our policies and programmes must be based on facts, not speculation. Data is the foundation of responsible governance, he said.

Also speaking at the event, Statistician-General of the Federation, Adeyemi Adeniran, called for stronger investments in the national statistical system.

He pointed out that limited survey coverage, underfunding, and outdated tools hinder the precision of official data. Nevertheless, he assured that the National Bureau of Statistics continues to align with global standards under the technical guidance of the UN and the World Bank.

Earlier, after a closed-door meeting with the House of Representatives Committee on Appropriation chaired by Hon. Abubakar Bichi, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that about 80 per cent of the extended 2024 budget had been executed.

The Abuja forum brought together top government officials, civil society representatives, development partners, and citizens, highlighting the growing emphasis on transparency, reliable data, and fiscal discipline in steering Nigeria’s development path.

NEWS

Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration

Published

on

The Transmission Company of Nigeria (TCN) has commenced the final phase of restoration works on the 330kV Kainji–Birnin Kebbi Transmission Line following the recent collapse of Tower T367 along the line corridor.

TCN, in an update issued on Wednesday, said significant progress had been recorded at the affected location in Yauri, where restoration activities are ongoing.

ALSO READ: TCN Restores 330kV Shiroro–Mando Line, Strengthens Power Supply to Kaduna

According to the company, the collapsed transmission tower has now been completely dismantled and decommissioned, while the conductors and skywire have been properly aligned and prepared for the next stage of the restoration process.

TCN also disclosed that an Emergency Restoration System (ERS) tower has been moved to the site and is ready for installation.

The company said the installation would be followed by cable stringing and other associated works towards the restoration of the affected transmission line.

“Our engineers and technical personnel remain actively engaged at the site and are working hard to ensure a quick completion and restoration of the line.”

TCN said it remained committed to restoring normal bulk transmission as soon as possible and appealed to electricity consumers and other stakeholders affected by the incident for patience and understanding.

“TCN appreciates the patience and understanding of electricity consumers and other stakeholders affected by the incident and assures the public that every effort is being made to restore the line and consequently, normal bulk transmission as soon as possible.”

 

Continue Reading

NEWS

Tanker Drivers Suspend Strike after FG Intervention

Published

on

The National Union of Edible Oil Tanker Drivers of Nigeria (NUEOTDN) has suspended its planned nationwide strike scheduled to begin Wednesday following Federal Government intervention in its dispute with operators in the edible oil industry.

The last-minute suspension averted a potential disruption in the transportation and distribution of edible oil across the country, with the union directing members to maintain normal operations while negotiations continue.

READ ALSO: Tinubu Applauds $800m FID on Ima Gas Project

NUEOTDN President, Ilias Aperun, announced the decision in a statement dated September 22, saying interventions by President Bola Tinubu and the Department of State Services (DSS) had opened discussions towards resolving the issues that prompted the planned industrial action.

“The planned industrial action scheduled to commence today, 23rd September 2026, has been suspended.”

Aperun said the union decided to give the government intervention time to produce results in the interest of economic stability and protection of the edible oil supply chain.

“In the interest of peace, national economic stability and the protection of the edible oil supply chain, the Union has decided to suspend the planned action and give room for the ongoing government intervention,” he said.

The union consequently directed its members and other stakeholders to halt preparations for the strike and continue normal operations pending further directives.

Aperun said discussions aimed at resolving the dispute were already underway, adding that the union remained committed to protecting the welfare and legitimate interests of its members without jeopardising the supply of edible oil.

“The NUEOTDN remains committed to the protection of the public health of the masses, welfare and legitimate interests of its comrades, while also supporting a peaceful and sustainable resolution of the issues at stake,” he said.

He urged stakeholders in the industry to cooperate with the ongoing negotiations, saying constructive engagement remained necessary to resolve the issues raised by the tanker drivers.

The union expressed appreciation to the Federal Government for its intervention and urged members to remain calm while awaiting the outcome of the discussions.

Aperun said further developments would be communicated as negotiations progressed.

Continue Reading

NEWS

Tinubu Welcomes $12m Abuja Entrepreneurship Centre to Boost MSMEs, Create Jobs

Published

on

President Bola Ahmed Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship, saying the facility will strengthen Nigeria’s Micro, Small and Medium Enterprises (MSME) ecosystem and create more opportunities for businesses to grow and generate jobs.

The President made this known in a statement issued on Wednesday by his Special Adviser on Information and Strategy, Bayo Onanuga.

The Abuja Centre for Entrepreneurship (ACE) is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, with funding from the Republic of Korea through the Korea International Cooperation Agency (KOICA).

SEE ALSO: Tinubu Applauds $800m FID on Ima Gas Project

The project is being implemented in partnership with the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).

The centre will provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and existing businesses.

According to the statement, the facility has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.

About $5.9 million of the investment will be allocated to construction, while $6.1 million will fund equipment and programmes designed to support entrepreneurs and businesses.

Tinubu said the centre would help establish, strengthen and grow businesses.
“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country.

“Many entrepreneurs already have the ideas and the determination to succeed. What they often need is better access to facilities, technology, training and the support that can help their businesses grow.

“This Centre will provide more of that support and strengthen the ecosystem around them,” he said.

The centre is expected to serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.

It is also expected to contribute to strengthening the wider entrepreneurship and MSME ecosystem across Northern Nigeria.

The President said the Federal Government would continue to expand the conditions that allow small businesses to grow and compete.

“We want more Nigerians to be able to start businesses, grow them and employ others.
“We also want existing small businesses to have better access to the tools and support they need to become stronger and more productive.

“That is important for jobs, incomes and the wider economy,” Tinubu said.
He added that the project complements the administration’s wider investments in digital skills, entrepreneurship, enterprise development and support for MSMEs.

The centre has also been designed to accommodate women and persons with disabilities. It will include accessible facilities and crèche services for women with young children.

While construction is ongoing, SMEDAN, KOICA and UNDP will work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to build a wider support system around the centre.

The partners will also identify businesses that can benefit from the centre’s programmes.

Tinubu thanked the South Korean government for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.

He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development and create more jobs.

“Our economy will be stronger when more Nigerian businesses can start, survive and grow.

“We must keep building the support around them and opening more opportunities for enterprise across the country,” the President said.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

3
0
Would love your thoughts, please comment.x
()
x