The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, requested a closed-door session during the 2025 budget defence sessions when faced with questions from lawmakers. Senators, particularly, sought clarification regarding the utilization of proceeds from fuel subsidy removal. Edun appeared visibly uncomfortable with the intense questioning and appealed for a private setting to provide detailed responses.
This followed Senator Abdul Ningi's inquiry about the expenditure of fuel subsidy removal proceeds in the 2024 fiscal year. Ningi also questioned capital expenditure performance, debt servicing costs for 2024 and 2025, and the likelihood of achieving desired outcomes with the extension of the 2024 budget capital component to June 30, 2025. Edun responded, requesting a closed-door session for a more comprehensive explanation. The Committee Chairman, Senator Olamilekan Adeola, granted the request, asking journalists to withdraw. Meanwhile, the Director General of the National Orientation Agency (NOA), Mallam Lanre Issa-Onilu, and the Director General of the News Agency of Nigeria (NAN), Ali Mohammed Ali, faced rigorous questioning from the Senate Committee on Information and National Orientation. The NOA DG was instructed to revise and resubmit the agency's 2025 budgetary proposals, while the NAN DG was tasked with reconciling discrepancies in the 2024 budget implementation
Colombia Últimas Noticias, Colombia Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Islamic Development Bank Funding: BOI Seeks Islamic Finance Specialist for IDICE ProgramThe Bank of Industry (BOI) is seeking an Islamic Finance Specialist to support the implementation of the Investment in Digital and Creative Enterprises (iDICE) program funded by the Islamic Development Bank (ISDB).
Leer más »
Nigerian govt issues N1.1trn Sukuk bonds to finance 124 road projectsThe Securities and Exchange Commission, SEC, has said the Nigerian government issued six sovereign sukuk worth N1.1 trillion, which is the same as $657.6 million, to finance 124 federal road projects.
Leer más »
2025 Budget: N13trn deficit to be financed through borrowing – Finance ministerNigeria's Finance Minister presents the proposed 2025 budget, highlighting a projected deficit of N13.13 trillion, which will be covered by borrowing. The budget is based on a benchmark oil price of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar.
Leer más »
Nigeria needs $20bn yearly investment to hit N1trn economy target — Finance Minister, EdunThe Minister of Finance, Wale Edun, said Nigeria needs to invest $20 billion annually to achieve its economic targets by 2030. Edun disclosed this on Friday during the Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables for the Fourth Quarter of 2024, held in Abuja.
Leer más »
Tinubu Rejected Finance Minister Offer Due to Political Risks, Says OjuduBabafemi Ojudu, former Special Adviser to ex-President Buhari, revealed how he and allies persuaded President Bola Tinubu to decline a Finance Minister offer under late President Yar’Adua. Ojudu cautioned Tinubu about the potential dangers, citing the assassination of Bola Ige, former Attorney-General and Justice Minister, during Obasanjo's government. He warned that accepting the position could harm Tinubu's long-term political aspirations and potentially lead to his arrest and political neutralization.
Leer más »