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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.

 

EVENTS

PRESIDENT TINUBU CONGRATULATES SENATOR IFEANYI ARARUME ON HIS BIRTHDAY

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President Bola Tinubu felicitates Senator Ifeanyi Godwin Ararume, astute politician and accomplished businessman, on his birthday, December 16.

Senator Ararume’s odyssey in politics began in the late 1980s, when he served as the State Treasurer of the Liberal Convention in old Imo State. He later joined the National Finance Committee of the defunct National Republican Convention.

He represented Imo North in the 9th National Assembly. He was first elected in May 1999 and re-elected in April 2003. He also served on several committees and held other official roles.

President Tinubu commends the former senator for his years of service to the nation and contributions to its peace, unity, and progress.

The President describes Senator Ararume as a resolute and shrewd politician, highlighting his courageous and remarkable political journey through the years.

President Tinubu wishes Senator Ararume a happy 67th birthday and prays that God Almighty will grant him more years of good health and strength.

 

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Ndigbo are no longer spectators in the Nigerian project- Minister Dave Umahi dismisses calls for Biafra under Tinubu’s administration

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The Minister of Works, David Umahi, says the all-inclusive style of governance being practiced by President Bola Tinubu has made the agitation for Biafra an unnecessary clamour.

While speaking at the inspection of the Enugu-Anambra road last Saturday, December 13, Umahi said the Tinubu administration had given Ndigbo what they had sought for decades, not through secession, but through what he described as unprecedented inclusion in national governance and development.

He explained that the agitation for Biafra was historically driven by neglect, exclusion and underrepresentation at the federal level, but insisted that the situation had changed under the current administration.

“When a people are fully integrated, respected and empowered within the structure of the nation, the dream they once chased through agitation has already been achieved through cooperation.

The push for Biafran secession over the years was borne out of neglect, exclusion and underrepresentation but today the narrative has changed dramatically under President Bola Tinubu.

The President has deliberately opened the doors of national development to the South-East. Appointments, policy inputs and infrastructure priorities now reflect true federal balance.

Every sector now bears visible Igbo footprints. The emergence of Igbo sons and daughters in strategic positions is a testament to this inclusion.

Biafra was never about breaking Nigeria; it was about being counted in Nigeria. Through inclusion, equity and concrete development, Ndigbo are no longer spectators in the Nigerian project; they are co-authors of its future. When justice finds a people, agitation loses its voice.”he said

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ADC Launches 90-Day Membership Drive, Fixes Dates For Congresses, National Convention

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The African Democratic Congress (ADC) has announced a 90-day nationwide membership mobilisation, revalidation, and registration exercise as part of preparations for its internal party activities ahead of 2026.

The party also approved provisional dates for its congresses and the election of delegates at the polling unit, ward, and local government levels across the country.

In circulars issued by its national secretary, Rauf Aregbesola, the ADC said the congresses are expected to hold between January 20 and January 27, 2026.

The process, the party said, will lead to the emergence of delegates who will participate in its non-elective national convention scheduled for February 2026 in Abuja.

A statement by Bolaji Abdullahi, national publicity secretary of the party, said the decisions were reached at a meeting of the national working committee (NWC) held on November 27, 2025.

Abdullahi said the timetable and activities were approved in line with the resolutions of the NWC and in accordance with relevant provisions of the party’s constitution.

The ADC said further details on the membership exercise, congresses, and convention will be communicated to party members and stakeholders in due course.

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