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N23.7trilliion Ways and Means: Senate cautions executive on need to brace up for passage

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***Blames Finance Minister, Emefiele for delay

The Senate has cautioned some officials in the executive arm of government to furnish it with required details for the passage of N23.7trillion Ways and Means Restructuring forwarded to it by President Muhammadu Buhari in December last year .

Controversy had trailed President Muhammadu Buhari’s request for approval of restructuring of N22.7trillion Ways and Means advances given the federal government by the Central Bank of Nigeria (CBN) when the senators penultimate week turned down the request amidst rowdy session.
The lawmakers raised objections while considering the report of the Committee on Finance for Approval of restructuring of N22.7trillion Ways and Means advances collected by the Federal Government from Central Bank of Nigeria (CBN) within the last ten years.

However, President Buhari while reacting to the lawmakers objection had told the senate during a meeting that should they continue with their resolve to block the plan to restructure government loans from the Central Bank, the country will be made to pay an extra $4 billion to service its debt.

Buhari indicated that should they fail to grant the securitization approval it will cost the government about 1.8 trillion naira in additional interest in 2023.
However at plenary on Tuesday the lawmakers specifically asked the Minister of Finance, Budget and National Planning, Zainab Ahmed and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to supply required information on the presidential request to the special committee set up for that purpose last year within three days

The red chamber warned that in view of Presidential and National Assembly elections coming up next month, it will be forced to adjourn plenary this week or latest by Tuesday next week for practical participation in campaigns.
Senate’s warning came after a request made by its Leader, Senator Ibrahim Gobir (APC Sokoto East) who is the Chairman of the Special Committee set up to interface with the Finance Minister and CBN Governor for details on the N27.3trillion Ways and Means Restructuring, for additional three days .
Gobir who rose through Order 40 of the Senate Standing rules under personal explanation, told the Senate that series of attempts made by the Committee from 28th December, 2022 to Tuesday, 17th January, 2023, to meet the Finance Minister and CBN Governor for the required details proved abortive.
He said, “As a special committee for urgent and thorough assignment, we hit the ground running immediately after composition on 28th of December last year.
“For required details on the N22.7trillion Ways and Means Restructuring, six vital questions were raised, five for the CBN governor and one for the Finance Minister, but their trips abroad, prevented us from asking them the questions.
“Now that they are around, we request the Senate to give us additional three days for thorough work on the assignment and submission of report” he said.
Apparently piqued by the submission, the President of the Senate, Ahmad Lawan in his response said the Ways and Means request from the President, is a very serious issue that must not be taken with levity by all those concerned.
The Senate President declared that the upper legilative chamber is ready to approve the request after thorough scrutiny which can only be done if required details are provided by relevant officials from the executive arm of government.
“We must have necessary information for passage of the N22.7trillion request and time is not on our side in the Senate now in view of coming general elections .
“If there is need for the Senate to sit up to Friday this week for thorough consideration and passage of the request, it will be done but the affected officials from the executive must also expedite action on provision of required information as regards documents authorising approval and disbursement of the monies totalling N22.7trillion”, he said.

President Muhammadu Buhari had in separate letters to both Chambers of the National Assembly on December 21, 2022, sought for approval of restructuring of N23.7trillion Ways and Means .
The President in the letter said : “The ways and means advances by the central bank of Nigeria, to the federal government has been a funding option to the federal government to cater for short term or emergency finance to fund delayed government expected cash receipt of physical deficit.

“The ways and means , balances as at 19th December 2022 is N22.7 trillion.
“I have approved the securitization of the ways and means balances along the following terms ÷ Amount. N23 .7 trillion, Tenure 40years, Moratorium on principal repayment , three years , Pricing interest rate 9%, .
“Your concurrence and approval is sought to allow for the implementation of same”
Attempts made by the Senate to approve the request during passage of the N21.83trillion 2023 budget on 28th of December last year failed , making it to set up the Senator Gobir led special committee to laise with the executive for necessary information.

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Legislature

CNG Safety Under Scrutiny: NASS Questions Readiness as Explosions Raise Alarms

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National Assembly Complex

The National Assembly has called for a comprehensive reassessment of Nigeria’s Compressed Natural Gas (CNG) initiative following alarming reports of vehicle explosions attributed to uncertified conversions. Lawmakers are urging the Federal Government to prioritize rigorous adaptability tests to ensure the safety and suitability of the technology in Nigeria’s unique environment.

During the 2025 budget defense session of the Joint Committee on Petroleum (Downstream), Petroleum (Upstream), and Gas, Senator Natasha Akpoti (PDP, Kogi Central) questioned the adequacy of research conducted before rolling out the CNG program.

“Nigeria’s bumpy roads and hot climate differ significantly from the smooth and cooler environments where this technology originated. Were these factors considered before introducing CNG?” Akpoti asked.

Her concerns come amid incidents of explosions in CNG-converted vehicles. The Minister of State for Gas, Hon. Ekperikpe Ekpo, attributed these accidents to uncertified conversions carried out by roadside technicians, emphasizing that certified centers adhere to strict safety standards.

Ekpo also assured lawmakers that the technology had been evaluated by a Presidential Committee on CNG and affirmed its long-term viability. “CNG has come to stay,” he stated.

The session also highlighted budgetary concerns, particularly the Ministry of Petroleum’s 2025 capital allocation of N903 million. Lawmakers criticized the sum as inadequate to address Nigeria’s pressing energy challenges.

“For a ministry driving Nigeria’s energy transition, this allocation raises concerns about commitment to infrastructure and innovation,” remarked Hon. Kafilat Ogbara.

As Nigeria seeks to diversify its energy mix, the National Assembly has stressed the need for enhanced safety measures, proper implementation, and increased funding to fully realize the potential of CNG while ensuring public safety and trust.

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Legislature

Umahi expresses Frustration over Fixing Nigerian Roads

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Dave Umahi

***Seeks Support for Loans as Budgetary Provisions Fall Short

The Minister of Works, Senator David Umahi, has voiced his deep frustration over the state of Nigeria’s road infrastructure, highlighting inadequate yearly budgetary allocations as a major barrier to progress.
Speaking during the 2025 budget defense session before the Senate Committee on Works in Abuja on Friday, Umahi described the financial constraints as overwhelming. “I’ve succeeded in most of my life’s engagements, but I feel frustrated fixing Nigerian roads with these meagre allocations,” he lamented.
Umahi disclosed that President Bola Tinubu inherited 2,064 road projects valued at N13 trillion, but rising costs have pushed the estimated expenditure to N18 trillion. He noted that the N827 billion allocated for road infrastructure in the 2025 budget is grossly insufficient to address the challenges.
“Roads are critical to economic growth and poverty reduction. They create jobs and drive economic activities. However, fixing these roads cannot be achieved with yearly budget provisions alone,” he explained.
The minister urged Nigerians to support the government’s borrowing initiatives, assuring that the funds would directly impact citizens’ lives by boosting economic activities and reducing hunger.
Senators on the committee, led by Senator Mpigi Barinaga, praised Umahi for his efficient management of scarce resources and supported his call for alternative funding mechanisms. They acknowledged the scale of the work required and admitted that the proposed budget falls far short of what is needed to resolve Nigeria’s road infrastructure crisis.
The session concluded with a shared resolve to explore additional funding options to tackle the nation’s road challenges effectively.

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Legislature

In another rowdy session, Lawmakers Demand Accountability Amidst Budget Defense Chaos

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Heineken Lokpobiri

***Minister Lokpobiri Assures of Reforms, Apologizes for Lapses

The 2025 budget defense session for the petroleum sector took a contentious turn on Friday as the Senate and House of Representatives Joint Committee on Petroleum (Upstream, Midstream, Downstream, and Gas) erupted into disorder. Tensions flared over delays in budget documentation, with lawmakers decrying the Ministry of Petroleum Resources’ perceived lack of preparedness and respect for legislative protocols.

The meeting, chaired by Senator Jarigbe Agom Jarigbe, was already fraught with logistical challenges. The cramped committee room, bursting with lawmakers and ministry officials, became the backdrop for a fiery exchange that highlighted the strained relationship between the legislative and executive branches. Calls to relocate the session to a more accommodating venue went unheeded, adding to the frustration.

Before the session could proceed, Hon. Kelechi Nwogu raised a procedural objection, pointing out the absence of vital budget documents. “We cannot engage in a meaningful discussion without the necessary materials. This undermines the integrity of the process,” Nwogu asserted.

The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, faced sharp criticism for the disorganization. Hon. Ado Doguwa, Co-Chairman of the Joint Committee, accused the Ministry of fostering an adversarial relationship with the legislature. “Minister, we see you only once a year, and even then, the lack of collaboration is glaring. This is unacceptable,” Doguwa said, his frustration evident.

Lokpobiri, in an attempt to salvage the situation, apologized for the lapses. “Distinguished Senators and Honourable Members, I deeply regret this oversight. It was not intentional. The budget documents are being distributed as we speak,” he said. He assured lawmakers that the Ministry remained committed to supporting legislative oversight and improving future engagements.

However, Lokpobiri’s lighthearted remark that the documents were being delivered in “Ghana Must Go” bags—containing no money—elicited mixed reactions. While some lawmakers chuckled, others viewed it as a diversion from the seriousness of the issue.

Doguwa, accepting the apology, stressed the need for strict adherence to legislative guidelines. “While we appreciate the apology, the late submission of documents is a breach of procedure. This cannot continue. We demand accountability and timely cooperation moving forward,” he said.

The session ultimately ended in stalemate, with lawmakers insisting on postponing the meeting until all necessary documents had been reviewed. The debacle underscores the persistent challenges of executive-legislative coordination in Nigeria’s budgetary process, particularly in critical sectors like petroleum.

As the Joint Committee prepares to reconvene, stakeholders will be watching closely to see if the Ministry of Petroleum Resources can rebuild trust and ensure a smoother process in the future.

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