Politics

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

Published

1 year ago

November 26, 2024

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.

Politics

David Mark Holds Secret Meeting With PRP Leaders as ADC Crisis Deepens

Published

7 days ago

April 12, 2026

Ekwutos Blog

The embattled National Chairman of the African Democratic Congress, David Mark, on Friday held a closed-door meeting with leaders of the Peoples Redemption Party in Abuja. The private consultation is seen as a fresh round of political moves as the ADC continues to battle a lingering leadership crisis and growing internal divisions.

Top figures from both parties were said to be present at the meeting, including PRP National Chairman Hakeem Baba-Ahmed and senior ADC officials. The development is already drawing attention as opposition parties continue realignments ahead of the 2027 political season, with many watching closely for possible alliances and next steps in the party crisis.

Politics

“ADC is a Holy Party, Cannot be used to Scam Nigerians Again” – Hon Success Opara tells David Mark

Published

1 week ago

April 11, 2026

Ekwutos Blog

ADC Party in Turmoil: Hon Success Opara Slams Leadership, Warns Against Scamming Nigerians

Abuja, Nigeria – The African Democratic Congress (ADC) is facing internal strife as Hon Success Opara, a prominent party official, has warned against attempts to use the party to deceive Nigerians. Opara specifically criticized the leadership of David Mark, stating that the party cannot be used to scam citizens again.

“ADC holy Party cannot be used to scam Nigerians again,” Opara said, emphasizing that those forming coalitions are hindering the party’s growth and denying youths opportunities to thrive.

“Those who are forming coalition don’t want to give the youths the chance to strive in the party,” she added.

Opara’s statement highlights the deepening divisions within the ADC, with concerns over leadership and the party’s direction.

Politics

2027: Bala declares aspirants over 55 years disqualified in ADC

Published

1 week ago

April 11, 2026

Ekwutos Blog

The factional National Chairman of the African Democratic Congress (ADC), Nafiu Bala Gombe, has announced that the party under his leadership will bar individuals above the age of 55 from contesting for political positions.

Gombe made the disclosure during an interview with BBC Hausa, where he outlined a vision centred on generational change and greater youth participation in politics.

“The African Democratic Congress (ADC) is a party that belongs to all Nigerians. What we are doing now is to ensure the party moves forward properly.

“We have decided that we will give the youths a real chance. The time has come for young people to take the lead in politics.

“If you are over 55 years old, you are not going to contest for positions in the ADC under our leadership.

“We want to bring in fresh blood, new ideas, and energy from the youth. Nigeria’s future depends on the young generation.

“The old ways have not worked well for the country. We need to open the door wide for youths to participate fully as candidates, leaders, and decision-makers,” he said.