News
Ebonyi State House of Assembly Approves N444.98 Billion Budget for 2025.
The Ebonyi State House of Assembly has officially approved a budget of N444.98 billion for the 2025 fiscal year, as presented by Governor Francis Nwifuru. This appropriation bill, titled “Budget of Economic and Social Development,” was passed following a comprehensive review by the House Committee on Appropriation and Finance within the state legislative complex.
A statement released by the assembly’s Public Relations Officer, Sylvester Egede, detailed that the bill underwent meticulous examination by the Committee of the Whole. Each page was scrutinized, with corrections made to ensure clarity and precision in language.
Speaker Moses Odunwa commended the committee for their diligence and timely completion of the review process. He noted that their efforts exemplify the commitment of the Seventh State Assembly to the welfare of Ebonyi residents and the administration of Governor Nwifuru. The Speaker expressed confidence that the 2025 budget would facilitate significant development for the state’s populace.
In his remarks, Kingsley Ikoro, the chairman of the committee and Leader of the House, highlighted the involvement of heads of ministries, departments, agencies, and parastatals in the budget’s scrutiny process. Ikoro expressed satisfaction with the collaboration among stakeholders, which he credited for the efficient completion of the committee’s work. He emphasized that the budget aims to drive the state’s developmental agenda through industrialization, enhancing internally generated revenue, and addressing the People’s Charter of Needs in Ebonyi State.
The approved budget is structured into three primary sections: personnel, overhead, and capital expenditure, reflecting a comprehensive approach to the state’s financial planning and development objectives.
Makurdi, Benue State – Governor Rev Fr Hyacinth Alia has vehemently refuted recent rumors alleging his planned defection to the Social Democratic Party (SDP). In a statement released by his Chief Press Secretary, Tersoo Kula, Governor Alia dismissed the claims as “dubious” and a smear campaign orchestrated by unnamed “discontented politicians in Abuja.”
The Governor reaffirmed his unwavering commitment to the All Progressives Congress (APC), emphasizing his role as the party leader in Benue State. He accused his detractors of attempting to sow discord between him and President Bola Ahmed Tinubu, asserting the strength of their existing relationship.
Governor Alia declared that the allegations, which included insinuations of joining forces with former Kaduna State Governor Nasir El-Rufai, are “absolutely gratuitous and lack any trustworthy evidence.” He urged the Benue public to disregard unsubstantiated information and reiterated his dedication to serving the state with transparency and unwavering resolve. He highlighted his efforts to reconnect Benue with the federal government, resulting in numerous benefits for the state and its people, and reaffirmed his commitment to President Tinubu’s “Renewed Hope” agenda.
Governor Bassey Otu of Cross River State, Chairman of the All Progressives Congress (APC) Anambra State Governorship Primary Election Committee, has voiced confidence in the party’s potential to secure victory in the upcoming gubernatorial election. Addressing APC delegates in Awka, Governor Otu emphasized the possibility of wresting control of Anambra State from the incumbent All Progressives Grand Alliance (APGA), currently led by Governor Charles Soludo.
Governor Otu highlighted the strategic importance of aligning Anambra with the ruling party at the center, suggesting that such alignment would benefit the state’s populace. He further stressed the need for unity amongst party members, urging them to support the eventual primary election winner and work cohesively towards achieving success in the general election. The governor underscored the APC’s growing presence in the Southeast, emphasizing the potential impact of adding Anambra to its regional portfolio. His remarks signal a renewed and determined effort by the APC to expand its influence in the region.
Nigeria’s public debt has experienced a substantial surge, reaching N144.67 trillion by December 2024, a 48.58% increase from the N97.34 trillion recorded at the close of 2023. This data, released by the Debt Management Office, indicates a year-on-year increase of N47.32 trillion and a quarter-on-quarter rise of 1.65%.
This escalation is primarily attributable to increased external and domestic borrowing. External debt rose by 83.89% to N70.29 trillion, while domestic debt increased by 25.77% to N74.38 trillion. The Federal Government accounts for the majority of both external (N62.92 trillion) and domestic (N70.41 trillion) debt.
This significant increase in Nigeria’s debt profile has prompted concern among financial experts, particularly regarding the country’s capacity to manage this growing burden amidst existing infrastructural deficits. The implications of this rising debt for Nigeria’s economic stability and future development remain a critical area of analysis.
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