The 2025 appropriation bill has passed the second reading at the national assembly.
The budget cleared the second reading during plenary on Thursday following an extensive debate by legislators in the Senate and the House of Representatives.
On Wednesday, President Bola Tinubu presented a record N49.7 trillion as the proposed budget for 2025 to a joint session of the upper and lower legislative chambers.
The lawmakers, during plenary on Thursday, took turns discussing the general principles of the money bill, offering recommendations that included thorough scrutiny of the budget breakdown during engagements with heads of ministries, departments, and agencies (MDAs).
Leading the debate, Julius Ihonvbere, majority leader of the green chamber, said the budget would improve the nation’s economy and consolidate the achievements of the president.
In his debate, Kingsley Chinda, minority leader, said Tinubu’s assertion that the budget would reduce inflation from the current 34.6 percent to 15 percent is “ambitious” and not realistic.
The ranking lawmaker said the allocation of N4.91 trillion to defence and security “will not take us to the promised land.”
He added that the budget should also prioritize human capital development and environmental sustainability.
“The budget might appear very beautiful, but there is much more for us to do as a nation,” Chinda said.
‘2025 BUDGET IS INADEQUATE’
Oluwole Oke, a Peoples Democratic Party (PDP) member from Osun, stated that the budget is “grossly inadequate” and won’t sufficiently fund development projects.
Abdussamad Dasuki from Sokoto supported Oke’s position, describing the budget as inadequate.
“The budget may look robust on paper, but if you convert it to dollars, you will realize that the budget is not where we should be,” he said.
“With the challenges we have, if you convert it to dollars, the nation will be inadequately provided for. I urge the relevant committees, particularly the committee on finance, to work on this.”
Also speaking, Ismaila Dabo from Bauchi called for an increased allocation to the agricultural sector to boost food production.
“Inflation is on food items, and Nigerians are finding it difficult to cope. I urge the house to do everything possible to ensure enough allocation is reserved for agriculture,” he said.
Some lawmakers from the north-east and south-east geopolitical zones demanded more funding for their development commissions.
The lawmakers unanimously voted in support of the bill when it was put to a voice vote by Benjamin Kalu, the deputy speaker, who presided over the session.
Kalu referred the bill to the committees on appropriation for further legislative work.
He said the bill will be passed before January 30.
In November, both chambers approved the 2025-2027 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP) of the federal government.
The parliament passed the oil benchmark prices of $75, $76.2, and $75.3 for the daily crude oil production of 2.06 million, 2.10 million, and 2.35 million for the 2025-2027 fiscal years respectively.
Also, the national assembly maintained the gross domestic product (GDP) growth rate projected at 4.6 percent, 4.4 percent, and 5.5 percent for the three years in the fiscal strategy paper.
The lawmakers endorsed the projected exchange rate of N1,400/$ but said it is subject to review in early 2025 according to monetary and fiscal policies.
Mungo G
July 23, 2018 at 7:16 pm
This man Lambert is now in Uganda he has a company called Development channel wich is selling fake tablet to innocent people who think that they are investing their money. If u can inform Uganda government to stop him
Smallbornes
July 30, 2018 at 3:58 pm
True but how does Ugandan government get to him when he is busy praising museveni
Stella Amutos
July 30, 2018 at 4:27 pm
Ds man is busy duping Ugandans seriously plz let d responsible authorities get ds man
Ocen Joshua
July 28, 2018 at 9:00 am
Please Let the Nigerian and Ugandan government work together for the arrest And prosecution of Charles (Dukwe now Lambert in Uganda) He Is Now Frauding Ugandans With A Ponsi Scheme Called Africas First Economic War Under The So Called Development Channel.
Tia
August 3, 2018 at 6:35 am
Am laughing my head off this idiot has defrauded many Ugandans and myself inclussivse his craftness though is high standard he tries to give you a picture that his program is real not until u hear him talking.. He only bubbles nusty words abusive language is what he uses always… Oh Charles Lambert the Lord will punish you. Quit Uganda we are done
cka
August 6, 2018 at 10:57 pm
As a Nigerian Myself i have questioned this man business scheme, but some of my brothers wont listen to me , when on doing their so called investment , or they fail to listen to me because i was from North eastern Nigeria, but one thing remains whatever dirty deals he makes here in Uganda , the smell will remain on us the bonified Nigerian. stay away from this man ..he has bad image in his home country and other African countries
Tusiime Godwin
August 16, 2018 at 9:33 pm
Many Ugandans a likely to be victims to this man , what annoys me is the security can’t do any move to save our people , to the extent his using our President’s photos on his building offices esp bukoto , wc is blackmailing people think ing that they dealing with legit man
keysha
August 21, 2018 at 8:50 am
We are done but for God and my country in Uganda he will not escape Gods purnishement which even his grand grand children will witness
Kismaruba Johnny
November 29, 2018 at 11:01 am
My God have mercy on all of you Africans especially does of you writing this rubbish to tarnish the image of Charles Lambert.
It is true that Africans have achieved political independent , but you are still a slave to western in your mind. economically your Africans are still depending on their colonies while having abundant resources in disposal because they don’t know how to harness it for their use.
Now here comes a man with large vision that will liberate the entire Africa fro economic slavery, but lack patience and selfishness and lack of investment culture is denying from seen the future ahead of you. A man who is a scammer cannot reveal to you his full identity and his family. Charles Lambert full identity to his own village is publish in internet, in all the brochures of the company. he has never plan to scam anybody, the concept he is introducing to Africa is strange to them, and strange to the government itself.
i ought you to face your business give him change to unveil the plans he has for you. if you you don’t stop writing against Charles Lambert, sooner or later you will regret your actions. you will come trembling and begging for forgiveness. all writers we are fishing out your data one by one, you will answer to your crime very soon
NNEKA LINDA ILONZO
July 13, 2019 at 6:43 pm
Every thing you just vomited here is rubbish…since 2013 that he introduced his project called Grey and Strong, has anyone benefited from it? If yes, lets hear from the beneficiary. Sadly, I was also used by Duke an co to defraud unsuspecting individuals by registering them for grey and Strong package. This is 2019, nothing so far.