Sunday, October 19, 2025
24.4 C
Lagos

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

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

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

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

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

uTracka Raises Alarm over N100bn Constituency Projects in 2018 Budget

Tracka, a transparency platform which allows citizens to collaborate, track and give feedback on public projects in their communities, has noticed some irregularities in the 2018 approved budget, especially the N100 billion zonal intervention projects nominated by members of the National Assembly.

Considering the challenge of service delivery in the country, Tracka ensures that budgeted projects in local communities follow best practices and are executed to citizens’ satisfaction. The lack of citizen inclusion in the nomination of the capital projects has led to increasing number of abandoned projects across Nigeria.

Over the years, despite huge funds allocated as capital expenditure, some projects are either left uncompleted or mismanaged.

A quick review of the constituency projects reveals that 50% of projects nominated by the lawmakers from 2016 till date are geared towards empowerment. Empowerment projects include the disbursement of items like sewing machines, bikes, tricycles, grinding machines, and more to constituency members. These disbursements, however, raise questions: how do politicians decide on “empowerment items” needed by their constituencies? How do they decide on who gets what in the community? What impact do these items — which are mostly imported — have on our economy? In 2017, a total of N54 billion was allocated for empowerment provisions; the sum increased to N61 billion in the 2018 budget.

In the 2018 budget, Tracka found out that over 800 projects were budgeted under agencies that do not have the mandate to execute the projects. In its search, Tracka noted that some education projects were budgeted under the Ministry of Water Resources. Case in point, the construction of five three-blocks of classrooms in Bunyun and four other locations in Plateau state were awarded to Lower Basin River Board Development under Water Resources for N70, 000, 000.  Projects like this make us raise eyebrows: does the Ministry of Water Resources have the competence to execute education projects?

For clarification, we placed a call to a House of Representatives member in charge who informed the Tracka team that there were issues with the implementation of past projects under the Universal Basic Education Commission (UBEC). He noted, the projects were routed through other agencies, to avoid under-implementation of projects in 2018. While Tracka understands the complexities around constituency projects and the wall hole for corruption, it is important to note that due process must be followed by all agencies and officials involved, Uadamen Ilevbaoje, Tracka Head stated.

In addition to the irregularities, projects with unspecified locations with a total sum of N1.4 billion were observed in the 2018 zonal intervention projects. Failure to provide these locations is antithetical to democracy, depriving communities, civil society organizations and auditing bodies of information and opportunities to monitor and ensure proper implementation of the public officials’ obligations to the people. It also provides an avenue for the syphoning of public funds meant for project implementation.

‘Tracka calls on citizens to also keep track of allocations under the purview of some key lawmakers in the National Assembly who scored to their constituencies the highest allocations. We call on Nigerian citizens to engage their elected representatives in carrying out needs assessment to ensure their needs are covered in the budget.  We equally call on all Nigerians to keep an eye on the funds, track projects until completion and always demand accountability.’

About BudgIT

BudgIT is a civic organisation that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change.

A pioneer in the field of social advocacy melded with technology, BudgIT uses an array of tech tools to simplify the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government.

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

NIGERIA: Between Mismanagement & Leaking Treasury

The Treasury of the Federal Republic of Nigeria is sick. According to economic doctors, the Nigerian treasury is suffering from acute mismanagement and basket-type leakages. Other diagnosed ailments include falling oil prices and dwindling foreign reserves. The sicknesses were made public recently by Ngozi Okonjo-Iweala, Federal Minister of Finance and Co-ordinating Minister of the Economy in Abuja.

Akwa Ibom: Sustainable Development in Nigeria’s Prime Investment Destination

Seen from afar, Nigeria is one large African nation...

Airlines Support ICAO on Cusp of Historic Emissions Agreement

The International Air Transport Association (IATA) urged governments at...

Samsung Unveils New Foldable Future with Galaxy Z Fold2

Samsung continues to pioneer an entirely new category of...

Saudi Arabia Bans Foreigners from Selling Mobile Phones

Saudi Arabia's government has passed a decree banning foreign...

Africa, Middle East PC Market Declines 26% in 1st Qtr

The Middle East and Africa (MEA) PC market experienced...
Exit mobile version