News

Nigerian Senate Passes 2025 Budget For Rivers State

Published

10 months ago

June 25, 2025

Editor

The Nigerian senate on Wednesday, passed the 2025 budget of Rivers State, to the tune of N1.485 trillion.

The passage came after the third reading of the appropriation bill on the Senate floor.

This came after the upper chamber considered the report of the Ad-Hoc Committee on Rivers State during the Committee of Supply session.

DAILY POST reports that the bill seeks to authorize the issuance of N1,485,662,592,442 from the Consolidated Revenue Fund of Rivers State for the fiscal year ending December 31, 2025.

According to the approved budget breakdown, N120.8 billion is for debt servicing, N287.38 billion is for recurrent (non-debt) expenditure, and N1.077 trillion is for capital expenditure.

Senator Abdul Ningi (Bauchi Central), while supporting the passage of the bill, however, raised a concern regarding the additional 50 billion naira earmarked for the payment of outstanding pensions and gratuities.

The lawmaker charged the Senate Ad-Hoc Committee to carry out more rigorous oversight to ensure that the funds reach the rightful pension beneficiaries without delay.

DAILY POST reports that with the passage, the Rivers State 2025 budget will now proceed for assent and implementation.

It will be recalled that President Bola Tinubu in May submitted the 2025 Appropriation Bill for Rivers State to the National Assembly for consideration, after the suspension of the state’s House of Assembly.

In a letter addressed to the Senate President, Goodwill Akpabio, the proposed budget totals N1.481 trillion, with major allocations aimed at revitalizing key sectors.

The president also wrote to the House of Representatives for the Rivers State budget approval, reminding the House that the Supreme Court had nullified the 2025 budget presented by suspended Governor Siminalayi Fubara.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

2 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

2 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

4 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.