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‘We Borrow Based On Your Approvals,’ FG Tells Lawmakers

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Ekwutosblog has gathered that the Federal Government has given insight into why it was exceeding revenue targets and still borrowing, telling the National Assembly that it did that based on the approvals of both the Senate and the House of Representatives.

This was disclosed during an interactive session Federal Government’s revenue generating agencies had with the Senator Sani Musa (APC, Niger East) led National Assembly’s joint Committees on Finance, Budget and National Planning on 2025-2027 Medium Term Expenditure Frame Work, MTEF, and Fiscal Strategy Paper, FSP, today.

At the one-day session that lasted over four hours in Room 231, Senate wing, the revenue generating agencies made their separate presentations on 2024 budget performance and revenue projections for N49.7 trillion 2025 budget.

Senate’s query
The Nigeria Customs Service, NCS; Nigerian National Petroleum Company Limited, NNPCL, and Federal Inland Revenue Service, FIRS, all exceeded their revenue targets.

They raked in a combined revenue of N36.952 trillion, which is way above the target for the 2024 fiscal year.

At the end of their presentations, members of the Committees took them up on why the Federal Government was still seeking for foreign loans despite the high increase of internally-generated revenues.

Senator Adamu Aliero (PDP Kebbi Central) was the first to ask: “What is the Federal Government doing with excess revenues generated by the various agencies in view of its unending request for foreign loan approval?”

In his response, the FIRS boss noted that loans being requested by the executive were already part of the appropriation act.

Bagudu and Edun react
Also responding, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, explained that the lawmakers should not forget that the borrowing plans contained in the N35.5 trillion 2024 budget were primarily meant to fund the deficit which is N9.7 trillion.

Bagudu said: “Despite revenue targets surpassing by some of the revenue generating agencies, government still needs to borrow for proper funding of the budget, particularly in the area of deficit and productivity for the poorest and most vulnerable.

“We have a long term development perspective plan agenda 2050 aiming at GDP per capital of $33,000.”

On his part, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained to the lawmakers that borrowing was still needed for proper funding of the budget despite increased revenues made by some agencies.

 

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President Tinubu Transmits to The Senate Lists Of Ambassadorial Nominees

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President Bola Tinubu has transmitted to the senate two lists of 34 career and 31 non career ambassadors nominees for screening and confirmation.

Prominent names listed as non career ambassadors include Reno Omokri, Femi Fani-Kayode, Gen. Abdulrahman Dambazau, Victor Ikpeazu and Ifeanyi Ugwuanyi.

Also listed as non career ambassadors nominees are Prof. Mahmood Yakubu, Vice Admiral Ete Ibas, Senator Jimoh Ibrahim, Senator Nora Daduut, Fatima Ajimobi, and Senator Ita Enang among others.

The two lists brings to 68 number of persons nominated so far as ambassadors awaiting confirmation by the Senate.

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PRESIDENT TINUBU FORWARDS NEW AMBASSADORIAL LIST TO SENATE, NOMINATES DAMBAZAU, IBAS, CHIOMA OHAKIM AND OTHERS

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By Prince Uwalaka Chimaroke
4-DEC- 2025

President Bola Ahmed Tinubu has submitted a fresh set of ambassadorial nominations to the Senate, featuring a mix of distinguished public figures and seasoned professionals drawn from across the country.

Among the notable nominees are former Chief of Army Staff and ex-Minister of Interior, Abdulrahman Dambazau; former Chief of Naval Staff and immediate past sole administrator of Rivers State, Ibok-Ete Ekwe Ibas; former senator Ita Enang; and Mrs. Chioma Ohakim, former First Lady of Imo State.

The President formally transmitted two comprehensive lists containing 34 career and 31 non-career ambassadorial nominees, bringing the total number of nominees awaiting Senate confirmation to 68.

The newly submitted lists mark another significant step in the administration’s ongoing diplomatic restructuring, aimed at strengthening Nigeria’s representation and presence across global missions.

The Senate is expected to commence screening and confirmation proceedings in the coming days.

 

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I’m Not Playing Politics with Nnamdi Kanu’s Release – Gov Otti Replies Chief Ogbonna

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Our attention has been drawn to a statement credited to a Former Commissioner for Local Government and Chieftaincy Affairs in Abia State, Chief Charles Ogbonna, wherein he called Governor Alex Otti unprintable names and also alleged that Governor Otti didn’t visit President Tinubu to discuss the issue of Mazi Nnamdi Kanu, but to plan on how to defect to the APC, among other childish verbal attacks.

Chief Ognonna has been unleashing unprovoked verbal venom and vituperation on the Governor, but we chose to ignore him, not only because we have been busy with the task of governance, but because we also know that he is traumatised by the obscurity he was plunged into after the 2023 general election and felt he should be allowed to experience some healing that could help normalise his reasoning.

 

Ordinarily, we would have still ignored Chief Ognonna’s latest idle tirade and allow him delude himself with fantasies of fury, but because the Nnamdi Kanu issue is both sensitive and very important to this government, we felt we should respond and put the records straight.

 

In continuation of Governor Otti’s efforts aimed at securing Kanu’s release, the Governor subsequently had a meeting with the President after visiting the IPOB leader at the Sokoto Correctional Centre on Sunday, November 30 2025. This is in continuation of earlier meetings the Governor had been having with the FG on this matter in the past two years.

The issue of Kanu was the only subject matter that took Governor Otti to Aso Rock and to the Glory of God, the meeting was both positive and fruitful, as the President was so gracious and generous.

 

Chief Ogbonna’s allegation of Governor Otti going to lobby to join the APC is both petty, ignoble, laughable and very irresponsible. At the risk of sounding immodest, any political party Governor Otti chooses to join today would roll out the drums and red carpet to welcome him with joy and excitement. If anything, many notable and respected APC leaders are not just desirous of having him in their fold, but are strongly appealing to Governor Otti to join their party because they know that he is not a liability.

 

Ogbonna accused Otti of betrayal, but he didn’t say who Otti betrayed, how and when.

 

He claimed that Otti doesn’t have capacity, yet Otti defeated him in his Polling Unit, Ward and LGA where his PDP Candidates from House of Assembly to President lost woefully.

 

He accused Governor Otti of inconsistency, yet he abandoned Alhaji Atiku Abubarkar less than 48 hours after the result of the Presidential Election was announced, in spite of the empty noise and boast he made about the PDP’s Presidential Candidate, all for Atiku’s money when it was needed and available.

He alleged that Governor Otti is playing politics with Nnamdi Kanu, yet, he is angry that the Governor is engaging the FG to secure Kanu’s freedom. Is there anything more contradictory and ridiculous than Ogbonna’s utterances?

 

At this point, the general public needs to know the genesis of Chief Ogbonna’s anger and aggression.

Having acquired Agbozu Cocoa Plantation when he was in government, the present government decided to reclaim the Plantation which was yielding nothing to the state under Charles Ogbonna. In line with Governor Otti’s policy of operating a government with human face, which sees him pay compensation so as not to hurt any citizen or investor, he approved a compensation package which was paid to Chief Ogbonna. He was excited and full of thanks and appreciation to Governor Otti for the gesture, because he knew he didn’t deserve it. Unfortunately and in line with his insatiable quest for power and money, he thought that another opportunity had opened for him to surreptitiously sneak into the government as he later nominated his son to be appointed by Governor Otti. The Governor flatly declined the request and subsequently appointed another person from the same Ogbonna’s Community, a development that made him feel slighted, diminished and broken and has since then gone out of control, throwing tantrums and hoping to be invited for settlement.

 

Chief Ogbonna’s problem, like some of his co-travellers is his failure to wake up from his slumber and realise that the era of ruins is over and that Abia has moved forward, never to be dragged back.

His primitive arrogance and mediocre mindset that limit his understanding of government and governance to political appointments, settlement and sharing of public funds without service to the people has so blinded him to the extent that he attacked the Governor recently for awarding the badly broken Umuahia-Ikot Ekpene road, claiming that the FG had aleady awarded it and thus should not be awarded by the Governor. How could any human being with conscience prefer that his people continue to suffer and die in their numbers just because he feels that building the strategic road would earn the Governor a huge political capital? Ogbonna needs to be reminded that such evil mindset has no place in the New Abia.

 

Even though Ogbonna’s character deficiency doesn’t position him for any modicum of respect, however, having advanced in age, he is expected to conduct himself honourably and responsibly so as not to attract insults to himself.

 

Finally, Ogbonna needs to be educated that one of the hallmarks of a great leader is his ability to apply wisdom, emotional intelligence and deploy the instrument of diplomacy in solving problems that have the propensity to impact the security of life and property of the people negatively if handled wrongly.

Governor Otti didn’t campaign with Mazi Nnamdi Kanu’s name in 2023, and doesn’t need to campaign with his plight for 2027, however, he strongly believes that resolving the problem of Kanu’s conviction is one of the ways to achieving peace, security and healing in our land. Unfortunately, Chief Ogbonna is not grounded, both in character and knowledge of the ingredients of modern leadership, hence his kindergarten politicisation of Governor Otti’s engagements with the FG and visit to the President.

Now that Ogbonna has become an errand boy in the APC, he needs to be reminded that he can pursue his stomach agenda without necessarily carrying out this misplaced aggression against Governor Otti, because it makes him look more pathetic than he can ever imagine.

 

Ferdinand Ekeoma

Special Adviser to the Governor

(Media and Publicity)

December 4, 2025.

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