The Nigerian House of Representatives has suspended discussion on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The decision to step down the documents was taken on Wednesday following a heated debate over how crude oil price benchmarks and revenue projections were calculated. The debate ensued in plenary immediately after James Faleke, …
A bill aimed at regulating the employment of staff by Nigerian banks has passed second reading at the House of Representatives. The draft legislation, sponsored by Fuad Laguda, an All Progressives Congress (APC) lawmaker representing Surulere I federal constituency in Lagos, seeks to amend the Banks and Other Financial Institutions Act 2020 to “prohibit, criminalise …
Two members of the House of Representatives from Bayelsa State have officially defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The lawmakers are Rodney Ambaiowei, representing Southern Ijaw federal constituency, and Oboku Oforji of Yenagoa/Kolokuma/Opokuma. Defection Announced in Plenary The Speaker of the House, Tajudeen Abbas, announced their defections during …
The House of Representatives has approved President Bola Tinubu’s request to borrow $2.35 billion to finance part of the 2025 budget deficit. The lawmakers also gave the green light for the issuance of a $500 million debut sovereign sukuk in the international capital market to fund key infrastructure projects and broaden Nigeria’s financing sources. The …
Fifteen years after Nigeria obtained a $460 million loan from China to install CCTV cameras across Abuja, the House of Representatives has launched a fresh investigation into the failed project. The lawmakers say the country continues to repay the loan, even though the cameras were never installed. Reps Move to Revisit $460m CCTV Project The …
President Bola Tinubu has requested the approval of the House of Representatives to secure approximately $2.3 billion in external loans to cover the 2025 budget deficit and refinance maturing Eurobonds, which will further raise Nigeria's debt profile. Nigeria’s total public debt rose to N149.39 trillion as of March 31 this year, marking a year-on-year increase …
The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has extended felicitations to the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, on the occasion of his 62nd birthday. In a congratulatory message issued on Friday through his Chief Press Secretary, Leke Olatunji Baiyewu, Abbas described Engr. …
By Esther Ososanya The amendment bill for the Nigerian Meteorological Agency (NiMet) Establishment Act has passed its second reading in the House of Representatives, sparking optimism among key stakeholders. The bill, originally sponsored by former Chairman of the House Committee on Aviation Technology, Hon. Isiaq Abiodun Akinlade, seeks to reposition NiMet for more effective service …
By Rafiyat Sadiq The Peoples Democratic Party (PDP) and the Labour Party (LP) on Tuesday lost two members of the House of Representatives to the ruling All Progressives Congress (APC), marking another round of defections in the lower chamber. Hon. Peter Akpanke, representing Obanliku/Obudu/Bekwara Federal Constituency of Cross River State, and Hon. Paul Nnamchi, representing …
