Tag: Senate

  • Senate okays N54.46tr for 2026 despite 2025 revenue shortfall

    Senate okays N54.46tr for 2026 despite 2025 revenue shortfall

    • Lawmakers fix parameter, approve 2026-2028 MTEF/FSP

    The stage is set for the presentation of the Federal Government’s 2026 expenditure plan by President Bola Ahmed Tinubu.

    This follows the approval of the 2026 – 2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) by the Senate in plenary yesterday.

    The lawmakers approved a budget of N54.46trillion for 2026. They also endorsed the parameters.

    This is despite the big revenue shortfall in 2025.

    Minister of Finance and Coordinating Minister of the Economy Wale Edun said N10.7 trillion is the estimated revenue inflow for 2025 against the projected N40.8 trillion. 

    Of the N54.46trillion projected aggregate expenditure for 2026, the Senate pegged capital expenditure at N20.131trillion, recurrent expenditure at N15.265 trillion, statutory transfers at N3.152trillion, and Sinking Fund at N388.54billion.

    Also, the Senate approved the $60 per barrel as oil benchmark (down from N64.85 proposed by the executive), projected aggregate revenue of N34.33trillion, fiscal deficit of N20.13 trillion, borrowings at N17.88trillion, debt service of N15.52trillion, pensions, gratuities, retirees’ benefits of N1.376trillion, 1.84 mbpd as crude oil production, inflation rate of 16.5 per cent, exchange rate of N1,512 per $1 and GDP growth rate at 4.68 per cent.

    The approval of the fiscal document followed the presentation and consideration of the report of the Senate Committee on Finance during plenary.

    The report was presented by the committee Chairman, Senator Mohammed Sani Musa (APC – Niger East).

    After due consideration by the lawmakers, the following recommendations of the Committee were approved.

    They include: “That the projected crude oil benchmark prices of US$64.85, US$64.30 and US$65.50 per barrel for 2026, 2027 and 2028, respectively, be reduced to US$60 for 2026, US$65 for 2027 and US$70 for 2028.

    “This is in recognition of the global geopolitical tensions in Europe and the Middle East and the sensitivity of the global crude oil price.

    “The projection for domestic crude oil production for 2026, 2027 and 2028 is 1.84 mbpd, 1.88 mbpd and 1.92 mbpd, respectively be sustained.

    “The projected exchange rates for 2026, 2027 and 2028 are N1,512, N1,432.15 and N1,383.18, respectively, and should be sustained in line with CBN’s policy to stabilise the naira and promote effective fiscal and monetary policy coordination.

    “Inflation rates projections for 2026, 2027 and 2028 are 16.5 per cent, 13 per cent and nine per cent, respectively, be sustained based on the commitment of the nation’s monetary policy authority to moderate inflationary pressure.

    “The GDP growth rate is projected at 4.68 per cent, 5.96 per cent and 7.9 per cent for 2026, 2027 and 2028, respectively.

    “Amidst reform in the Nigerian economy and prospects for reforms to take effect in 2026, it recommended that the projection for real GDP be sustained.

    Read Also: Tunji-Ojo: Nigeria’s future depends on unity, national renewal

    “The real GDP growth rate, projected at 4.68 per cent, 5.96 per cent and 7.9 per cent for 2026, 2027 and 2028, respectively, be sustained in anticipation of the gains of Tax reforms.”

    The committee called for “effective implementation of the new Tax Acts as veritable instruments for economic reforms for growth and development.”

    It added: “In line with the ongoing economic reforms and the activation of the Tax Act, it is recommended that the Federal Government implement a National Scanning Policy within the National Single Window of the Nigeria Revenue Service (NRS), in collaboration with the relevant Agencies.

    “This will enhance revenue assurance, improve trade facilitation, reduce leakages, and strengthen transparency and national security.”

    Fed Govt records revenue shortfall, says Edun

    Edun said the Federal Government recorded a significant revenue shortfall in the 2025 fiscal year.

    He spoke while appearing before the House of Representatives Committees on Finance and National Planning during an interactive session on the 2026–2028 MTEF and FSP.

    According to him, the Federal Government initially projected revenue of N40.8 trillion for 2025 to fund the N54.9 trillion “budget of restoration” to secure peace and rebuild prosperity.

    However, current performance indicates that total revenue for the year is likely to end at about N10.7 trillion, he said.

    The minister attributed the shortfall mainly to weak oil and gas revenues, particularly Petroleum Profit Tax (PPT) and Company Income Tax (CIT) from oil and gas companies, as well as underperforming subheads.

    “The current trajectory indicates that federal revenues for the full year will likely end at around N10.7 trillion, compared to the N40.8 trillion projection,” Edun told lawmakers.

    He added that while the government had also borrowed about N14.1 trillion, the combined inflows remained far below what was required to fully fund the 2025 budget.

    Despite the shortfall, Edun said the government had met key obligations through what he described as prudent treasury management.

    He noted that salaries, statutory transfers, and domestic and foreign debt service had been paid as and when due through “skilful, imaginative and creative handling” of available resources.

    Providing an update on expenditure performance, the minister said capital releases to ministries, departments and agencies (MDAs) in 2024 stood at N5.2 trillion out of a budgeted N7.1 trillion, representing 73 per cent performance, while total capital expenditure, including multilateral and bilateral projects, reached N11.1 trillion out of N13.7 trillion, or 84 per cent.

    Edun urged that expenditure plans tied to oil revenues should remain flexible, cautioning against committing the government to obligations based on projections that had repeatedly failed to materialise.

    “We must be ambitious, but given the experience of the past two years, spending linked to these revenues must depend on the funds actually coming in,” he said.

    Minister of Budget and National Planning, Atiku Bagudu, said the MTEF and FSP were developed through extensive consultations with government agencies, the private sector, civil society and development partners.

    Bagudu acknowledged the debate within the Economic Management Team over revenue assumptions, noting that while some advocated conservative projections based on past performance, others argued for ambitious targets to compel revenue agencies to improve performance.

    He explained that for the 2026 budget, the government retained a target oil production of 2.06 million barrels per day but adopted a more cautious production assumption of 1.84 million barrels per day for revenue calculations.

    Bagudu urged that more be done to drive revenue-generating agencies to do more.

    Chairman of the Committee, James Faleke, said there should be a critical analysis to guard against bloated budgets and to help make the proper decisions to move the country forward.

  • Senate urges NSA to probe fake news on Akpabio’s, Gowon’s deaths

    Senate urges NSA to probe fake news on Akpabio’s, Gowon’s deaths

    The Senate has referred false reports on the alleged deaths of its President, Godswill Akpabio, and former Head of State, Gen. Yakubu Gowon (rtd.), to the National Security Adviser (NSA), Nuhu Ribadu, for investigation.

    The decision followed the Senate’s consideration of a motion by Senator Titus Zam during plenary.

    Moving the motion, Zam said social media platforms were flooded with claims that Akpabio had died in a London hospital, even as he was presiding over plenary.

    He also said a similar rumour was spread about Gowon on the same day the former Head of State attended a Christmas carol service in Abuja.

    Read Also: Tunji-Ojo: Nigeria’s future depends on unity, national renewal

    Zam called for an investigation to identify those behind the fake reports.

    Responding, Akpabio described the trend as becoming common, noting that social media had previously circulated funeral footage of a prominent businessman who was still alive.

    He sustained the motion and directed that the matter be referred to the NSA for investigation.

    “Your point of order is sustained. I think all we can do is to refer it to the NSA for investigation,” Akpabio said.

    The Senate unanimously approved the referral through a voice vote.

  • Senate okays Oke, Are, Dalhatu for appointment as ambassadors

    Senate okays Oke, Are, Dalhatu for appointment as ambassadors

    • Chukwu confirmed as Abia REC, others

    The Senate yesterday approved three ambassadorial nominees —Ayodele Oke (Oyo), Colonel Kayode Are (retd.) (Ogun) and Amin Dalhatu (Jigawa) – for appointment as non-career envoys.

    The resolution of the Senate followed its consideration of the report of the Senate Committee on Foreign Affairs presented by its chairman, Abubakar Sani Bello, during plenary.

    Oke, a former Director-General of the National Intelligence Agency (NIA) and ex-Nigerian Ambassador to the Commonwealth Secretariat in London; Are, a former Director-General of the Department of State Services (DSS); and Dalhatu, Nigeria’s immediate past Ambassador to South Korea, were unanimously endorsed by lawmakers when Senate President Godswill Akpabio put their nomination to a voice vote.

    In his comment, Akpabio urged the ambassadors-designate to bring to bear their wealth of experience in their new roles.

    Read Also: Tunji-Ojo: Nigeria’s future depends on unity, national renewal

    Also yesterday, the Senate confirmed the nomination of Dr. Chukwuemeka J. Chukwu for appointment as the Resident Electoral Commissioner (REC) representing Abia State in the Independent National Electoral Commission (INEC).

    The resolution of the Red Chamber followed its consideration of the report of the Senate Committee on Electoral Matters during plenary.

    The report was presented by the Chairman of the Committee, Simon Lalong.

    Also, the Senate confirmed the reappointment of Aisha Mahmud Kanti Bello as a National Commissioner of the National Electricity Regulatory Commission (NERC) as well as endorsed the nomination of Dr. Animashaun Fouad Olayinka for appointment as Commissioner in NERC.

  • BREAKING: Senate passes 2026-2028 MTEF/FSP

    BREAKING: Senate passes 2026-2028 MTEF/FSP

    The Senate on Tuesday projected the sum of N54.46trillion as the federal government’s aggregate expenditure for the 2026 fiscal year.

    This followed the passage of the 2026 – 2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) during plenary.

    Also, the Senate approved the sum of US$64.85 per barrel as the oil benchmark, projected aggregate revenue of N34.33trillion, Fiscal Deficit of N20.13 trillion, Borrowings at N17.88trillion, Debt Service of N15.52 trillion, and Pensions, gratuities, retirees’ benefits of N1.376trillion.

    The approval of the fiscal document followed the presentation and consideration of the report of the Senate Committees on Finance during plenary.

    The report was presented by the Chairman of the Committee, Senator Mohammed Sani Musa (APC – Niger East).

    Details shortly…

  • JUST IN: Senate okays Oke, Are, Dalhatu for appointment as ambassadors

    JUST IN: Senate okays Oke, Are, Dalhatu for appointment as ambassadors

    The Senate on Tuesday approved the nomination of three ambassadorial nominees—Ayodele Oke, Colonel Kayode Are (rtd), and Amin Dalhatu for appointment as envoys.

    The resolution of the Senate followed its consideration of the report of the Senate Committee on Foreign Affairs presented by its chairman, Senator Abubakar Sani Bello, during plenary.

    Oke, a former Director-General of the National Intelligence Agency (NIA) and ex-Nigerian Ambassador to the Commonwealth Secretariat in London; Are, a former Director-General of the Department of State Services (DSS); and Dalhatu, Nigeria’s immediate past Ambassador to South Korea, were unanimously endorsed by lawmakers when the Senate President Godswill Akpabio put their nomination to a voice vote.

    In his comment, Akpabio urged the ambassadors-designate to bring to bear their wealth of experience in their new roles.

  • Senate refers false death reports on Akpabio, Gowon to NSA for investigation

    Senate refers false death reports on Akpabio, Gowon to NSA for investigation

    The Senate on Tuesday referred allegations surrounding the reported deaths of Senate President Godswill Akpabio and former Head of State, General Yakubu Gowon, to the National Security Adviser (NSA), Nuhu Ribadu, for investigation.

    The decision followed the consideration of a motion raised during plenary by Senator Titus Zam.

    Moving the motion, Zam decried the circulation of false reports on social media claiming that the Senate President had died in a London hospital, despite Akpabio being alive and presiding over Senate proceedings.

    He also expressed concern over a similar rumour that trended online about former Head of State, General Yakubu Gowon, even on a day the elder statesman attended a Christmas carol service in Abuja.

    Read Also: CONTROVERSY OF THE YEAR 2025: Akpabio vs Akpoti-Uduaghan

    The senator called for a thorough probe into the spread of the misinformation, with a view to identifying and sanctioning those responsible for promoting fake news.

    Responding, Senate President Akpabio acknowledged the reports, noting that the spread of such falsehoods had become commonplace. 

    He added that on several occasions, social media had carried reports and even funeral footage of prominent Nigerians who were still alive.

    He sustained the motion moved by Zam and said the incident be referred to the office of NSA for diligent investigation to unravel the purveyors.

    “Your point of order is sustained. I think all we can do is to refer it to the NSA for investigation,” Akpabio said.

    The Senate unanimously approved the proposal when it was put to voice vote.

  • Senate insists on proven track record as benchmark for clearance

    Senate insists on proven track record as benchmark for clearance

    Only ambassadorial nominees with verifiable professional accomplishments and credible public records will scale Senate’s ongoing screening, the Red Chamber said yesterday.

    Senate spokesperson, Adeyemi Adaramodu, told reporters at the National Assembly that the upper legislative chamber would prioritise competence and proven capacity over paper qualifications.

    According to him, the Senate will rely on “footprints” nominees have left in their careers, public service, or other spheres of life to determine their suitability for diplomatic postings.

    He said: “We will rely on the information we have on the nominees to clear them. Even if someone has not held certain positions before, we must see that the person is coming from a background that shows capacity,” he said.

     “Whether as students, in corporate life, or in public service, the public must be able to assess what you stand for and what you can offer. Certificates are only an addendum; they are not the core qualification.”

    Adaramodu also dismissed insinuations of a rift between the Senate and the presidency over the recent withdrawal of police orderlies attached to some Very Important Personalities (VIPs), including lawmakers.

    He explained that the concern raised on the Senate floor was not opposition to the policy but a demand for fairness in its implementation.

    READ ALSO; Christmas: 20 nice places to visit in Nigeria

    Adaramodu said: “We don’t have a problem with the decision. What was raised on the floor yesterday was simply that it must apply to everyone equally.

    “That was why the Senate President (Godswill Akpabio) asked the Police Affairs Committee to look into it and ensure fairness.”

    He added that President Bola Ahmed Tinubu had already provided an alternative security channel for those genuinely in need, noting that lawmakers fully support the directive as long as it is applied systemically and without discrimination.

  • Senate insists on proven track record as benchmark for envoy clearance

    Senate insists on proven track record as benchmark for envoy clearance

    …As Tinubu forwards 2026–2028 MTEF to Senate

    The Senate on Thursday said only ambassadorial nominees with verifiable professional accomplishments and credible public records will scale its ongoing screening exercise.

    This is even as President Tinubu has submitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) to the Senate, marking the formal commencement of the 2026 budget process.

    Senate spokesperson, Adeyemi Adaramodu, told reporters at the National Assembly that the red chamber would prioritise competence and proven capacity over paper qualifications.

    According to him, the Senate will rely on “footprints” that nominees have left in their careers, public service, or other spheres of life to determine their suitability for diplomatic postings.

    “We will rely on the information we have on the nominees to clear them. Even if someone has not held certain positions before, we must see that the person is coming from a background that shows capacity,” he said.

    “Whether as students, in corporate life, or in public service, the public must be able to assess what you stand for and what you can offer. Certificates are only an addendum; they are not the core qualification.”

    Adaramodu also dismissed insinuations of a rift between the Senate and the presidency over the recent withdrawal of police orderlies attached to some VIPs, including lawmakers.

    He explained that the concern raised on the Senate floor was not opposition to the policy but a demand for fairness in its implementation.

    “We don’t have a problem with the decision. What was raised on the floor yesterday was simply that it must apply to everyone equally,” Adaramodu said.

    “That was why the Senate President asked the Police Affairs Committee to look into it and ensure fairness.”

    He added that President Bola Tinubu had already provided an alternative security channel for those genuinely in need, noting that lawmakers fully support the directive as long as it is applied systemically and without discrimination.

    Meanwhile, President Tinubu has submitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) to the Senate, marking the formal commencement of the 2026 budget process.

    In a letter read by Deputy Senate President Barau Jibrin during plenary, Tinubu said the document outlines the macroeconomic assumptions, revenue outlook and spending priorities that will guide the drafting of the 2026 Appropriation Bill.

    He noted that the fiscal framework had been approved by the Federal Executive Council on December 3, 2025.

    Key parameters approved by the council last week include a crude oil benchmark price of $64.85 per barrel and an exchange rate of ₦1,512/$1 for the 2026 budget cycle.

    Jibrin referred the MTEF/FSP to the Senate Committee on Finance, chaired by Senator Sani Musa, with a mandate to submit its report by December 17.

    The Senate later adjourned plenary to allow committees to continue scrutinising the fiscal document while also proceeding with the screening of ambassadorial nominees.

    Tinubu had earlier sent the same documents to the House of Representatives, where they were read by Deputy Speaker Benjamin Kalu.

    The MTEF/FSP, as required by the Fiscal Responsibility Act, forms the foundation of Nigeria’s annual budgets and must be approved by the National Assembly before the 2026 Appropriation Bill is presented.

  • JUST IN: Senate clears Fani-Kayode, Omokri, Ikpeazu, ex-INEC chair, others for ambassadorial positions

    JUST IN: Senate clears Fani-Kayode, Omokri, Ikpeazu, ex-INEC chair, others for ambassadorial positions

    The Senate Committee on Foreign Affairs on Thursday approved the nomination of former Minister of Aviation, Femi Fani-Kayode, for appointment as ambassador.

    Other nominees cleared by the committee include former Minister of Interior Abdulrahman Dambazau, ex-special adviser on new media to former President Goodluck Jonathan, Reno Omokri, former presidential aide, Senator Ita Enang, and Senator Grace Bent.

    Also confirmed were former INEC Chairman Mahmood Yakubu, former Governor of Enugu State Ifeanyi Ugwuanyi, and former Governor of Abia State Victor Okezie Ikpeazu, among others.

    Read Also: FULL LIST of 68 ambassadors-nominees

    The screening session, conducted in batches of five nominees each, experienced a mild drama during Omokri’s turn.

    Senators Mohammed Ali Ndume and Adams Oshiomhole openly disagreed on how his clearance should proceed.

    After Omokri’s batch had introduced themselves, Ndume moved a motion to allow the nominees to take a bow and leave.

    Some senators, including Oshiomhole, indicated they wanted to comment.

    The Committee Chairman, Senator Abubakar Sani Bello, recognised Oshiomhole to speak, but Ndume insisted that his motion should be seconded before allowing further interventions.

    This led to a sharp disagreement between the two senators.

  • Senate raises alarm over sudden WAEC curriculum shift, summons Education Minister

    Senate raises alarm over sudden WAEC curriculum shift, summons Education Minister

    …Senators warn of looming mass failure in 2026 SSCE

    The Senate on Tuesday raised serious concerns over what it described as a sudden and poorly planned implementation of a new curriculum and registration guideline by the West African Examinations Council (WAEC), summoning the Minister of Education, Dr. Olatunji Alausa, alongside heads of key agencies to explain the move.

    Lawmakers expressed apprehension that the abrupt policy, slated to take effect in two years, had been prematurely applied to students scheduled for the May/June 2026 Senior Secondary Certificate Examination (SSCE), potentially putting them at risk of widespread failure.

    Leading the debate, Senator Karimi Sunday described the directive forcing current SS3 students to follow a curriculum designed for SS1 students as a “policy ambush.”

    He noted that subjects such as Computer Studies and Civic Education, previously included in the WAEC syllabus, had been removed, leaving many students with only six examinable subjects instead of the required eight or nine.

    “The shift is abrupt and ill-prepared,” Karimi said. “Students who have spent years preparing for these subjects are now being told, at the point of registration, that they no longer exist. This is unacceptable and a recipe for mass failure.”

    Karimi argued that the move violates Section 14(2)(b) of the 1999 Constitution, which places the welfare of citizens at the heart of governance, and Section 18, which mandates the government to ensure equal and adequate educational opportunities.

    In a fiery contribution, Senator Adams Oshiomhole condemned what he termed a “culture of anarchism” in the nation’s policy implementation framework.

    “You cannot wake up overnight and say that in June students will be examined in a subject they have not been taught,” he said. “Intentions are not enough. Proper homework must be done.”

    He demanded that the Minister of Education and all relevant agencies appear before the Senate Committee on Basic and Secondary Education to provide “concrete evidence of preparedness” before any new curriculum is enforced.

    Senator Idiat Oluranti Adebule supported the motion, stressing that any curriculum overhaul must pass through the National Council on Education (NCE), which comprises all state commissioners for education.

    “It is not something that can be introduced by fiat,” she cautioned, calling for a broader investigation into the entire curriculum review process.

    Senator Solomon Adeola warned that many newly introduced subjects, such as cosmetology, garment making, livestock farming, GSM repairs, and solar installation, are skill-based and require specialised equipment that most schools lack.

    “You cannot introduce highly practical subjects in schools where there are no workshops, laboratories, or even trained teachers,” he said. “That is setting students up for failure.”

    After extensive debate, Senate President Godswill Akpabio ruled that the Education Minister and heads of relevant agencies be summoned immediately.

    “These are very weighty issues,” Akpabio said. “We cannot risk mass failure in the 2026 WAEC examinations. The relevant committees should invite the Minister immediately and report back within two weeks.”

    He noted that the Senate had already agreed that current SS3 students should be exempted from the new guideline, but insisted that comprehensive engagement with the ministry was necessary before any directive becomes final.

    The Senate insisted that the matter must be addressed and resolved before the end of the year to protect the academic future of students across the country.

    “This is an urgent national concern,” Akpabio stressed. “We must not allow confusion in the education sector to jeopardise the prospects of our children.”