The Nigerian Senate has approved the request of President Bola Tinubu to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.

This comes after the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.

According to the committee, the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.

The expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).

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In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.

Recall that President Tinubu had on November 4th requested the approval of the National Assembly for a fresh N1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.

The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.

Agege Local Government
Mr. Tunde Azeez Disco has stepped down as the Executive Chairman of Agege Local Government, citing persistent health challenges as the reason for his resignation.

The former chairman submitted his resignation letter to the Agege Local Government Legislative Arm.

He noted that his health status had significantly impacted his ability to effectively discharge his official duties.

The legislative house, while acknowledging Azeez Disco’s dedication to public service, quickly accepted the decision. Following a thorough deliberation, a unanimous resolution was passed, accepting the resignation with immediate effect.

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The council wished the outgoing chairman well in his future endeavours, with the event underlining the necessity for public officials to prioritise personal health and well-being.

Ganiyu Obasa, son of the Speaker, Lagos State Assembly, Mudashiru Obasa, is the Vice chairman of Agege Local Government.

In May, residents of Agege, under the banner of the Presidential Campaign Council (PCC), called on President Bola Tinubu to intervene in the local government election in Agege.

They claimed that Obasa allegedly plans to foist his surrogates as candidates in the local government and councillorship elections.

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In a meeting held in response to the announcement of candidates for the chairmanship and vice-chairmanship of the Agege Local Government and Orile-Agege Local Council Development Area (LCDA), the aggrieved residents alleged that those shortlisted as candidates to represent the area were handpicked by Obasa.

They said the process was void of internal democracy and collective participation.

Addressing the media, Kamardeen Sabitu, chairman of the PCC for Agege and Orile-Agege, alleged that Obasa did everything possible to manipulate the political structure in the area for personal gain.

During the protest, demonstrators carried placards reading “Red Card, Obasa O to ge, (it is enough). They also chanted songs such as “Enough is Enough, this suffering is enough, Tinubu, rescue us.”

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Sabitu added that the people have endured years of political marginalisation under Obasa’s influence. He recalled that the movement against imposed candidates began in 2018, during which one of the protesters died and 11 others were jailed.

“There is no true democracy in Agege. Since 2018, we’ve been resisting Obasa’s control. We salute everyone standing up to this political imposition. One person cannot dominate Agege politics,” Sabitu said.

He emphasised that while the group remains loyal to the All Progressives Congress (APC) and is also appreciative of the party’s leadership, they will not accept candidates imposed on them without proper consultation.

The plenary session of the House of Representatives on Tuesday turned rowdy after members voted against some motions of urgent public importance, which bordered on the protection of lives and key government assets.

With the Deputy Speaker, Benjamin Kalu, presiding, the session became rowdy, as members dissolved into a closed-door session to restore order.

It all started when the member representing Somolu Federal Constituency, Lagos State, Ademorin Kuye, drew the attention of his colleagues to what he called the illegal allocation of lands within the Lagos International Trade Fair Complex and prayed the House to refer the matter to the Committee on Public Assets for investigation.

Kuye, a member of the All Progressives Congress is the Chairman of the House Committee on Public Assets.

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Proposing an amendment to the prayers, Delta lawmaker and Chairman, House Committee on Rules and Business, Francis Waive, argued that though the matter brought before the Green Chamber is urgent enough, the Committee on Commerce, not Public Assets, should be in charge of the investigation.

Waive was supported by Akwa Ibom lawmaker, Mark Esset, who argued that “It is the Committee on Commerce that should take responsibility on this matter.”

On the other hand, Yusuf Gagdi representing Pankshin/Kanke/Kanam Federal Constituency, Plateau State, supported Kuye, stating that the Public Assets Committee should be allowed to take charge of investigating the allegation of illegal land sale and submit a report to the House.

With no end to the back-and-forth argument in sight, Gbefwi Gaza (SDP, Nasarawa) on the advice of Kalu, proposed the constitution of an Ad-hoc Committee comprising members of both Committees (Public Assets and Commerce) to conduct the probe.

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When subjected to a voice vote, almost an equal number of lawmakers voted in support and against the motion.

Not sure whose voices were louder, Kalu gave it to the nays, sparking unrest in the chamber.

Next on the order of urgent motions was Mohammed Bio representing Baruten/Kaima Federal Constituency, Kwara State.

Bio who lamented the worsening security situation in his constituency, prayed the House to urge the military to establish a base in the crisis-prone areas to stem the tides of attacks.

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This time, more lawmakers voted against the motion, to the surprise of Kalu and the Kwara lawmaker.

It became clear to Kalu that members had resolved to frustrate the day’s session owing to the rejection of Kuye’s motion.

So, when again voices thundered against Ayodeji Alao-Akala’s motion which drew members’ attention to the need to address Nigeria’s description as a “Country of Particular Concern” by the United States President, Mr Donald Trump; Kalu allowed the motion to pass, forcing members to openly oppose the decision.

Voices of dissent rent the chambers and the plenary was suspended for a closed-door session.

…Details later