Thursday, March 5, 2026
27.3 C
Lagos

Business

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

Business

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

BudgIT Uncovers N7tn Projects Inserted by NA in 2025 FG Budget

BudgIT, a civic tech organisation promoting transparency and accountability in Nigeria’s public finance, has uncovered 11,122 projects valued at N6.93 trillion inserted by the National Assembly into the 2025 Federal Government Budget.

What began as isolated irregularities has, over the years, evolved into a deeply entrenched culture of exploitation and abuse, with the budget process now a playground for self-serving political interests, led by top-ranking members of the National Assembly.

Our analysis reveals that 238 projects valued above N5 billion each, with a cumulative value of N2.29 trillion, were inserted with little to no justification. 984 projects worth N1.71 trillion and 1,119 projects within the range of N500 million to N1 billion, totaling N641.38 billion, were indiscriminately inserted, raising questions about their relevance and alignment with national priorities.

These insertions, far from promoting development, appear tailored to satisfy narrow political interests and personal gains rather than the citizens’ interests.

A closer look shows that 3,573 projects worth N653.19 billion are assigned directly to federal constituencies and 1,972 projects worth N444.04 billion to senatorial districts. Categorically, some of the most glaring anomalies include: 1,477 streetlight projects worth N393.29 billion; 538 boreholes totalling N114.53 billion; 2,122 ICT projects valued at N505.79 billion; and N6.74 billion earmarked for “empowerment of traditional rulers”

Shockingly, 39% of all insertions—4,371 projects worth N1.72 trillion—were forced into the Ministry of Agriculture’s budget, inflating its capital allocation from N242.5 billion to N1.95 trillion. The Ministries of Science and Technology and Budget and Economic Planning also saw bloated allocations of N994.98 billion and N1.1 trillion, respectively, from insertions alone.

Even more concerning is the targeted misuse of agencies like the Nigerian Building and Road Research Institute (Lagos) and the Federal Cooperative College, Oji River, as dumping grounds for politically motivated projects.

These agencies lack the technical capacity to execute such projects, leading to rampant underperformance and waste. For example, the Federal Cooperative College, Oji River—a training institution—was saddled with: N3 billion for utility vehicles to support farmers and distribution agents; N1.5 billion for rural electrification in Rivers State; and N1 billion for solar streetlights in Enugu State.

These are examples of agencies operating outside their mandates, managing projects unrelated to their statutory functions, and adding zero value to national development.

Despite these findings, the Presidency has remained conspicuously silent. Recall that in the third and fourth quarters of 2024, BudgIT launched the “The Budget is a Mess” campaign to bring these issues to light.

We submitted formal letters outlining our findings to the Presidency, the Budget Office, and the National Assembly. While these letters were acknowledged, no response was received from any of the institutions, and not a single institution has taken responsibility for the anomalies. Even more concerning is the silence from the Presidency—silence which, in the face of overwhelming evidence, amounts to complicity.

Commenting on the findings, Gabriel Okeowo, BudgIT’s Country Director, stressed the urgent need to restore integrity to Nigeria’s budgeting process, highlighting how unchecked project insertions by the National Assembly have derailed the purpose of national planning, weakened public trust, and diverted resources away from critical development priorities.

“The insertion of over 11,000 projects worth N6.93 trillion into the 2025 budget by the National Assembly is not just alarming—it is an assault on fiscal responsibility. This trend, increasingly normalised, undermines the purpose of national budgeting, distorts development priorities, and redirects scarce resources into the hands of political elites. Nigeria cannot afford to run a government of projects without purpose. We urgently need transparency, constitutional clarity, and a return to evidence-based planning that puts citizens, not politics, at the centre of the budget.” Okeowo said.

 

In light of the foregoing, we call on President Bola Ahmed Tinubu to exercise stronger executive leadership and reform the budgeting process to ensure alignment with the Medium-Term National Development Plan (2021–2025) and other national priorities. We urge the Attorney General of the Federation and Minister of Justice to seek a constitutional interpretation from the Supreme Court regarding the extent of the National Assembly’s appropriation powers, particularly its authority to unilaterally introduce new capital projects without Executive concurrence.

We hope that the anticorruption agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), will also take action to track these projects and ensure Nigeria gets value for money.

We also call on citizens, the media, civil society organisations, and the development community to speak out and demand reform. This is not merely about financial mismanagement—it is a matter of justice, equity, and the future of accountable governance in Nigeria. The 2025 Budget must serve the interests of the Nigerian people, not a privileged few.

 

 

Hot this week

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

ABoICT Lecture/Awards 2026 to Focus on Impact of AI, IoT on Business Operational Efficiency

The Board and Management of Communication Week Media Limited,...

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

Stanbic IBTC Economic Summit Delivers Strategic Framework for Navigating Nigeria’s 2026 Investment Landscape

Institutional investors, corporate leaders and economic experts gained practical...

Topics

THE MERCURY DEBATE: WHO Welcomes International Treaty on Mercury

The World Health Organization (WHO) welcomes of the approval...

Fidelity Bank Wins 2025 DBN Innovation Award for MSME Support

In recognition of its exceptional contributions to innovative financial...

Dangote Contracts Honeywell for Major Refinery Capacity Upgrade to 1.4m BPD

Dangote Group is pleased to announce that it has...

ITU Re-elects Houlin Zhao as Secretary-General for 2nd Term

Member States of the International Telecommunication Union (ITU) have...

Moghalu, Ex-CBN Chief to Address Swiss Business Leaders

Former Deputy Governor of the Central Bank of Nigeria,...

Linkage Assurance MD, Daniel Braie Among Top 25 CEOs on NSE

Mr. Daniel Braie, Managing Director and Chief Executive Officer...

Huawei Forecasts 33% Rise in 2012 Full-Year Profit

Huawei has published preliminary financial figures, and said that revenue...

Sustained Sell-Offs Drag Benchmark Index… NSE ASI down 0.9%

The bearish performance of the local bourse was extended...
Exit mobile version