RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Politics

Presidency Denies Allegations of Budget Padding – Northern Senator Forum

Rate Captain by Rate Captain
March 13, 2024
in Politics
Reading Time: 2 mins read
A A
0
FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

In response to allegations made by Chairman of Northern Senators Forum, Senator Abdul Ningi, regarding the 2024 Appropriation Act, the Presidency has officially refuted the claims, labeling them as unsubstantiated. The statement, titled “The Facts About 2024 Budget,” was issued by Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga.

According to the statement, the Presidency emphasized that the administration led by President Bola Ahmed Tinubu did not operate two versions of the 2024 budget, as alleged by Senator Ningi. Rather, it was the National Assembly that increased the proposed budget from N27.5 trillion to N28.7 trillion, a decision to which the President assented.

AlsoRead

Nigeria’s Projected N20.12 Trillion 2026 Deficit Risks Crowding Out Private Sector Credit 

Finance Ministry Denies Collapse of $5 Billion Oil-Backed Loan Deal

Nigerian Students Face Visa Freeze as U.S. Tightens Grip on Social Media Vetting

Addressing concerns over divisive rhetoric, the Presidency expressed dismay at the unfounded claims, stressing that the government has always upheld equity across all regions of the country. It asserted that Tinubu, as a staunch democrat, would never engage in unconstitutional acts such as budget padding.

The statement clarified that President Tinubu presented a budget of N27.5 trillion to the National Assembly, and it was the National Assembly that increased the budget by N1.2 trillion. Despite the increase, the President signed the Appropriation Bill into law in the spirit of democracy.

Furthermore, the Presidency dismissed claims of the budget being anti-North, asserting that the 2024 budget was fair and equitable to all parts of the country. It highlighted the various sectors, including security, agriculture, healthcare, and infrastructure, where investments have been made across Nigeria.

The statement concluded by commending Senator Yemi Adaramodu and other senators for setting the record straight and urged Nigerians to focus on national cohesion and unity.

Meanwhile, the Senate Appropriation Committee held an emergency meeting to discuss the allegations raised by Senator Ningi. However, the planned media briefing was canceled, and further discussions will take place during the senate’s plenary session.

Several northern senators have criticized Ningi for his claims, describing them as unfounded and baseless. They emphasized the importance of maintaining unity and harmony among senators from all regions, cautioning against attempts to disrupt the budget process.

Previous Post

Nigeria’s Debt Service Hits $560 Million in January

Next Post

CBN Stands Firm: Banks Restricted from Using FX Revaluation Gains for Dividends

Related News

FG’s First-Half Budget Performance Falls Short: Economic Consequence

Nigeria’s Projected N20.12 Trillion 2026 Deficit Risks Crowding Out Private Sector Credit 

by Jide Omodele
January 29, 2026
0

Financial experts have raised serious concerns that Nigeria’s planned N20.12 trillion budget deficit for 2026 could severely limit credit availability...

Crude Oil Prices Soar as Global Supply Shortage Intensifies.

Finance Ministry Denies Collapse of $5 Billion Oil-Backed Loan Deal

by Akpan Edidong
June 12, 2025
0

The Federal Ministry of Finance has dismissed reports claiming the collapse of a proposed $5 billion crude oil-backed loan involving...

“U.S. National Debt Rises By $1 Trillion Every 100 Days

Nigerian Students Face Visa Freeze as U.S. Tightens Grip on Social Media Vetting

by Jide Omodele
May 27, 2025
0

For thousands of Nigerian students dreaming of studying in the United States, the path just got rockier. On Tuesday, Secretary...

World Bank Emphasizes Cash Transfers to Break Poverty Cycle in Nigeria

Nigeria Faces Tax Hikes on Alcohol, Tobacco, and Sugary Drinks to Unlock $750M World Bank Loan

by Rate Captain
May 27, 2025
0

As Nigeria grapples with economic challenges, the World Bank has tied the release of a $750 million loan to a...

Next Post
CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

CBN Stands Firm: Banks Restricted from Using FX Revaluation Gains for Dividends

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

NGX All-Share Index Surges 6.16% to Record 182,313.08 Points, Market Cap Hits N117.03 Trillion

February 16, 2026
Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Refinery Sparks Intense Competition in Nigeria’s Petrol Market with Sharp Price Reduction

February 16, 2026

Popular Story

  • Naira Surges Against US Dollar, Falls Below N1,000 Mark

    CBN Opens Official FX Window to BDCs with $150,000 Weekly Limit  

    0 shares
    Share 0 Tweet 0
  • NGX All-Share Index Surges 6.16% to Record 182,313.08 Points, Market Cap Hits N117.03 Trillion

    0 shares
    Share 0 Tweet 0
  • Brent Crude Holds Above Nigeria’s 2026 Budget Benchmark at $67.78

    0 shares
    Share 0 Tweet 0
  • Telecom Sector Sees Dramatic FDI Surge to $208.51 Million in Q3 2025

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Sparks Intense Competition in Nigeria’s Petrol Market with Sharp Price Reduction

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>