Legislature
Ministerial Screening: Senate expresses satisfaction with fmr APC women leader Okotete
***Lauds achievements at NEXIM Bank
The Senate has acknowledged the achievements of the Executive Director (Business Development) of Nigerian Export and Import Bank (NEXIM), Hon. Stella Okotete, in growing the non oil exports and business fortunes of the Bank.
The commendation came after the Senator representing Delta Central, Senator Ede Dafinone moved a motion at the ongoing ministerial screening exercise, urging his colleagues to allow Ms. Okotete take a bow and leave.
Hon. Okotete, former National Women Leader of the ruling All Progressive Congress (APC) and currently serving as ED Business Development at NEXIM Bank, was President Bola Tinubu’s ministerial nominee from Delta State.
Senator Dafinone, while moving the motion, said he had had opportunity of working with Ms. Okotete during his one year stay as Non-Executive Director with NEXIM, adding that the nominee was the engine room of the international reputable bank.
“What the nominee did not mention was that, her position as the Executive Director of Business Development Unit, means she was at the engine room of the bank. The Business Development Unit, is the operational department of the NEXIM Bank.
“So, she was in charge of the operations of the Bank and in that capacity, she was able to grow the balance sheet of the Bank and she has done exceptionally well.
“I want to add also, that as a young woman, she has also favoured the youth and women in her policies at the bank, aside the policies she had done at home, encouraging young people in various departments and empowerment programs.
“She has also been instrumental in growing non oil exports and as at today, the non oil exports are the key focus of this administration, as we protect the need to grow our economy in the background of dwindling oil reserves and in move globally away from foisting fuel, to a more sustainable forms of energy.
“My Colleagues said she has distinguished herself already, what I need to add is that, I speak for my 2 Colleagues from Delta State who are both fully in support of the nominee, and to ask Distinguished Members, if the nominee from Delta State, could please be recognized for her good work in NEXIM Bank, with the background that, she has served one complete term at NEXIM Bank and that the term has been renewed about a year ago, which shows she has distinguished herself at the Bank. With that Mr. President, I urge that Distinguished Members, do ask the nominee from Delta State to please take a bow”, Senator Dafinone told his Colleagues.
President of the Senate, Senator Godswill Akpabio, who presided over the ministerial screening, also attested to the role of Ms. Okotete in women and youth development as the Women Leader of the ruling party, APC.
He said, “honestly, when she mentioned that she was a women leader of the greatest party in Africa, I just remembered that we are all from political parties and in normal circumstances, the party is supreme”.
Akpabio also went further to pose the question for the nominee to take a bow and the response was in affirmative
Earlier, while giving a short profile of herself, the nominee, who was born in 1984, took the Senate through the journey of her career and achievements recorded, especially in women and youth development, as well as her exploits at the NEXIM Bank.
Her words:
“The immediate past President of the Federal Republic of Nigeria, President Muhammad Buhari, in 2017, found me worthy and appointed me, in line with the Act of Export and Import Bank, sections 11, 8 and 14 , as Executive Director of Nigerian Export-Import Bank (NEXIM Bank), in charge of Business Development.
“The functions of the ED Business Development of the Bank, which I still hold till date, is to drive the business directorate of the Bank, to create quality risk assets and to also provide funding for exporters in the non-oil sector.
“When we resumed in 2017, we met a balance sheet size of N67bn. We had grown it to N256bn by 2022, when our tenure got renewed. We also met a bank that was already recording loses, year-in, year-out for 3 years. As at 2016, the bank had recorded over N6bn losses. Today, the Nigerian Export and Import Bank is standing shoulder-to-shoulder with other global export banks and profitably as one of the leading export credit institutions in Africa.
“I was also the women representative, popularly known as the Women leader of the All Progressive Congress (APC) Caretaker Committee in 2020.
“As Women Leader of the ruling All Progressive Congress at that time, I was able to bring to bear, quality representation to our women and we established new policy that helped shaped visibility for our women across board.
“One of it is the Progressive Women Academy, which was approved by the Apple Store and Google Store. It is an online academy where women can learn various self skills to make themselves not just visible in the business space but also in politics. I also understood, being a very young politician, that there was need to build bridges across the older women in politics and the younger ones, and I established the Progressive Young Women’s Forum, which was also a platform to groom future female Leaders and mentor them.
“I’m proud to say today that I have women who were part of my mentes, serving as Commissioners, elected as House of Assembly Members and also as Councilors and some of them are Special Advisers and Special Assistants currently at various state levels.
“I also created the lobby group of the APC Women and we were able to garvanise stakeholders to accept the responsibility to push for more visibility for our women. Based on that, when we did the review of the APC constitution, we were able to accomodate another seat for a woman in the NWC. Today, that’s the only party in Africa that gives 2 seats – Women Leader and Deputy Women Leader seats in the NWC.
“By the grace of God, I was also able to influence such platforms for women across the party structures at the state, local government and senatorial districts”.
***Allocates N23.96 Trillion for Capital Projects, N14.31 Trillion for Debt Servicing
The Nigerian Senate along with the House of Represebtatives have passed the 2025 Appropriation Bill, approving a record-breaking budget of N54,990,165,355,396 to finance government activities in the coming fiscal year.
The budget, titled A Bill for an Act to Authorise the Issue from the Consolidated Revenue Fund of the Federation, was approved after deliberations on its allocations and implications for economic growth, debt management, and infrastructure development.
The chairman of the National Assemble Godswill Akpabio who is also the President of the Senate gave the beakdown of the 2025 Budget to show that Statutory Transfers: ₦3.65 trillion, debt Servicing: ₦14.32 trillion, Recurrent (Non-Debt) Expenditure: ₦13.06 trillion and
Capital Expenditure: ₦23.96 trillion
The largest chunk of the budget, ₦23.96 trillion, was allocated for capital expenditure, aimed at infrastructure development, healthcare, education, and security.
This signals the government’s commitment to addressing Nigeria’s infrastructural deficit.
However, the ₦14.32 trillion earmarked for debt servicing highlights the country’s rising debt burden, sparking concerns over long-term financial sustainability.
With the National Assembly approval, the budget now awaits President Bola Tinubu’s assent, after which implementation will begin. Analysts predict a challenging fiscal year, balancing economic growth with prudent spending and debt repayment.
However, time will tell whether the historic budget will deliver on its promises, or economic realities force adjustments down the line?
***Says addittional fund is to Prioritize Infrastructure, Health, Economic Growth
The chairman of the senate committee on Appropriation Senator Adeola Solomon Olamilekan has explained the approval of the 2025 Appropriation Bill by the national Assembly which it increased from N49.7 trillion to N54.99 trillion—the highest in the nation’s history.
The adjustment followed legislative reviews that uncovered additional revenues from key government agencies.
While explaining the Budget Expansion and Revenue Sources Olamilekan indicated that the additional N4.99 trillion was sourced from Nigeria Customs Service, Federal Inland Revenue Service (FIRS) and Government-Owned Enterprises (GOEs)
These he said led to an increase in funding for critical sectors, including N1.5 trillion for Bank of Agriculture, N500 billion for Bank of Industry, 1 trillion for Ministry of Solid Minerals, N1.5 trillion for Renewable Infrastructure Fund, N300 billion – Road construction and N400 billion for Rail transport.
Others are N380 billion of Water resources, irrigation, and dam projects, N250 billion for Military barracks renovation N120 billion for New military aviation projects, N50 billion for Border security agencies
Following the suspension of U.S. health aid, which previously provided funding for HIV, tuberculosis, malaria, and polio treatments, President Tinubu approved $200 million (N300 billion) to ensure continued medical supplies and healthcare support for affected patients.
On the major Boost for Infrastructure Development he said a record N23.7 trillion has been allocated for capital projects, marking a significant leap in infrastructure investment.
He listed the areas the funds will focus on to include Roads and railways,nEducation and healthcare improvements and Other critical public infrastructure
To prevent delays in budget implementation, the 2026 budget process will begin in July 2025, with the Medium-Term Expenditure Framework (MTEF) submitted early and the Appropriation Bill expected by October 2025.
Concerns over inadequate rail infrastructure funding in the South East were raised, but legislative leaders clarified that rail projects are primarily funded through public-private partnerships (PPPs).
According to him, the 2025 budget focuses on light rail development in Lagos, Ogun, Kaduna, and Kano, while further discussions on South East projects are ongoing.
He explained that to maintain Economic Stability the budget parameters remain unchanged, with key revenue sources including FIRS increasing its revenue target to N25.1 trillion, Nigeria Customs Service boosting revenue collection through stricter enforcement and Independent revenue agencies contributing 100% of their generated funds to the federal government
The House of Representatives has directed its Joint Committee on Communications and Interior to investigate reports of unauthorized National Identification Number (NIN) linkages by telecom service providers across Nigeria.
The decision followed the unanimous adoption of a motion jointly sponsored by Hon. Patrick Umoh (APC, Akwa Ibom) and Hon. Julius Ihonvbere (APC, Edo). The House also instructed the Nigerian Communications Commission (NCC) to probe the allegations and sanction any telecom operator found guilty of violating privacy laws.
Additionally, the National Identity Management Commission (NIMC) has been asked to clarify whether telecom providers were authorized to link NINs to subscriber lines and if such actions comply with existing regulations.
Hon. Umoh raised concerns about recent reports indicating that telecom companies have linked NINs to subscribers’ SIM cards without their consent. He warned that this unauthorized linkage exposes Nigerians to criminal activities, such as identity theft, financial fraud, and other cybercrimes.
“This action is a clear violation of the Nigeria Data Protection Act 2023 and the Nigeria Data Protection Regulation (NDPR) 2019, which guarantee the right to privacy and the protection of personal data,” Umoh stated.
He further emphasized that while the NIN system was introduced to enhance national security and streamline identification processes, unauthorized linkages undermine public trust and jeopardize citizens’ safety.
“Aware that innocent citizens have been wrongly implicated in crimes, suffered reputational damage, harassment, and legal challenges for offenses they know nothing about, it is imperative that we address this issue immediately,” Umoh added.
The House has mandated the probe committee to submit its findings within four weeks, as lawmakers seek to protect Nigerians from potential data breaches and uphold the integrity of national security protocols.
-
Crime1 year agoPolice nabs Killer of Varsity Lecturer in Niger
-
News1 year agoFCT-IRS tells socialite Aisha Achimugu not to forget to file her annual returns
-
Appointment1 year agoTinubu names El-Rufai, Tope Fasua, others in New appointments
-
Kogi1 year agoINEC cancells election in 67 polling units in Ogori-Magongo in Kogi
-
Kogi1 year agoEchocho Challenges Tribunal Judgment ordering rerun in 94 polling units
-
News1 year agoIPOB: Simon Ekpa gives reason for seperatists clamour for Biafra
-
Metro11 months ago‘Listing Simon Ekpa among wanted persons by Nigeria military is rascality, intimidation’
-
News1 year agoKingmakers of Igu/ Koton-Karfe dare Bello, urge him to reverse deposition of Ohimege-Igu