News

Budget Padding Controversy: Akpabio Knocked, Asked To Immediately Step Aside

Published

2 years ago

March 13, 2024

Editor

The Peoples Democratic Party has asked the Senate President, Godswill Akpabio, to step aside and allow for an independent investigation into the N3.7trn 2024 Budget padding allegation.

The lawmaker representing Bauchi Central, Abdul Ningi, has been suspended by the Senate for three months.

This decision followed approximately three hours of debate regarding his statements made in an interview where he claimed that the National Assembly inflated the 2024 budget to N28.7 trillion.

In the interview conducted on Saturday, Ningi asserted that while the budget passed by the National Assembly for the 2024 fiscal year is N25 trillion, the one being executed by the Presidency amounts to N28.7 trillion.

In response, the PDP, through a statement issued by its National Publicity Secretary, Debo Ologunagba, on Wednesday, expressed its support for the suspended Senator.

The party criticised the Senate leadership for suspending Ningi without conducting a thorough investigation into the matter of budget padding that he brought up.

The party stated: “The Peoples Democratic Party demands that the Senate President, Senator Godswill Akpabio, immediately step aside and allow for an independent investigation into the allegation that a staggering N3.7 trillion was discreetly inserted into the 2024 budget for alleged non-existent projects.

“The party also demands that Senator Akpabio immediately reports at the Economic and Financial Crimes Commission over the pending case of alleged looting of N108 billion belonging to the people of Akwa Ibom State under his watch as Governor of the State.

“Furthermore, the Senate President should speak out on the reported N86bn contract scam in the Niger Delta Development Commission during his tenure as the Minister of Niger Delta Affairs.”

The PDP described Ningi’s suspension as a desperate move to suppress investigation, conceal, and sweep the facts under the carpet.

It added, “We ask, why did the APC leadership in the Senate not refer the matter to the appropriate Senate Standing Committee for an open investigation in line with the extant Rules of the Senate? What is the APC Senate leadership afraid of and what is it hiding from Nigerians?

“It is even more absurd that instead of recusing himself, the Senate President sat as a judge in the matter; a situation that has the capacity to bring the institution of the Senate to further public disrepute.

“This is especially true as the issues at hand heavily border on alleged gross misconduct and criminal betrayal of public trust which are serious offenses under our laws.

“This apparent inclination towards covering up sleaze in the polity is already pitching the institution of the Senate against Nigerians who are demanding answers on the matter. Of course, the widely condemned suspension of Senator Ningi does not provide answers to the budget padding allegation.

“It is indeed unfortunate and a huge smear on the image of the Senate, as the highest lawmaking and probity Institution in the country, that its Presiding Officer has found himself in a quagmire of alleged sleaze and betrayal of public trust.

“Our party therefore stands with Senator Ningi for his courage in seeking probity and accountability in the polity.”

Related Topics:Akpabio budget Padding Senate

Up Next

Don Proffers Solutions To End Child Poverty As UNICEF Rolls Out Intervention In Three States

Don't Miss

Osun APC, PDP Trade Words Over Adeleke’s Security Alarm

Comments

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

5 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

7 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.