Connect with us

Nigeria News (Standard)

House of Representatives Extends 2025 Federal Budget Implementation to September Nationwide

Lawmakers say extension will allow more capital projects to be completed; government agencies urged to accelerate spending

Published

2 hours ago

on

Lawmakers say extension will allow more capital projects to be completed; government agencies urged to accelerate spending

The House of Representatives has approved an extension of the 2025 federal budget implementation period until September, granting ministries, departments, and agencies (MDAs) nationwide additional time to utilise allocated funds for ongoing projects. The resolution was reached during a plenary session in Abuja on Monday, 15 June 2026, as lawmakers cited the need for improved capital expenditure delivery across Nigeria.

According to proceedings at the National Assembly, members agreed that extending the implementation window would enable critical infrastructure and development projects, many of which faced delays due to procurement bottlenecks and late releases of funds, to be completed before the end of the fiscal year. The decision affects both capital and recurrent expenditures under the current Appropriation Act.

The extension comes amid concerns about low budget performance in several sectors, with previous reports indicating that many MDAs had yet to fully disburse their allocations as at May. Lawmakers from various geopolitical zones argued that if the budget lapsed in June as earlier scheduled, numerous road, health, education, and power projects would remain unfinished, undermining government’s economic recovery agenda.

Chairman of the House Committee on Appropriations said during debate that ministries must take advantage of the new timeline by fast-tracking procurement processes and project execution. “This extension is not for frivolous spending but to ensure Nigerians feel the impact of public investments,” he stated on the floor. There was no immediate objection from opposition parties recorded at plenary.

With this development, all relevant MDAs are expected to accelerate implementation efforts over the next three months. The House also resolved to intensify oversight functions, warning that agencies failing to meet utilisation benchmarks risk sanctions or funding cuts in subsequent budgets.

Source: https://www.premiumtimesng.com/news/top-news/887839-reps-extend-2025-federal-budget-implementation-until-september.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

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

Nigeria News (Standard)

ADC Names Amaechi as Atiku’s Running Mate Ahead of 2027 Polls

Opposition party moves to strengthen ticket, signals realignment in Nigeria’s pre-election landscape

Published

12 minutes ago

on

June 15, 2026

By

Opposition party moves to strengthen ticket, signals realignment in Nigeria’s pre-election landscape

The African Democratic Congress (ADC) has named former Minister Rotimi Amaechi as the running mate to ex-Vice President Atiku Abubakar for the 2027 presidential election. The announcement, made on Monday, marks a significant step in the party’s efforts to position itself strongly ahead of the next general polls.

The decision was reached following consultations among ADC leaders and key stakeholders across different geopolitical zones. Party officials said the choice of Amaechi, a prominent political figure and former Governor of Rivers State, was aimed at boosting the ADC’s national appeal and balancing its ticket for maximum electoral impact.

This development comes at a time when Nigeria’s political environment is witnessing increased realignments among parties and influential politicians. With the All Progressives Congress (APC) and Peoples Democratic Party (PDP) expected to remain dominant, ADC’s move signals its intention to challenge the two major parties by fielding familiar national figures on its platform.

According to ADC chieftains who spoke after a meeting in Abuja, the selection of Amaechi is part of the party’s broader strategy to attract support from both southern and northern regions. They described the pairing as “a formidable team capable of delivering good governance,” adding that consultations would continue with other groups ahead of formal campaign activities.

As at press time, Atiku Abubakar has not issued a formal statement on his nomination as presidential candidate under ADC, nor has Rotimi Amaechi commented publicly on his reported selection as running mate. Political observers say more announcements are expected as alliances take shape in preparation for the 2027 elections.

Source: https://www.premiumtimesng.com/news/headlines/887865-2027-adc-names-amaechi-as-atikus-running-mate.html

Continue Reading

Nigeria News (Standard)

Visa Nigeria Marks Africa Day With Cultural Celebration and Pledge to Digital Growth in Lagos

Company’s Lagos team highlights local traditions as Vice President Andrew Uaboi reaffirms long-term investment in West Africa’s fintech sector

Published

27 minutes ago

on

June 15, 2026

By

Company’s Lagos team highlights local traditions as Vice President Andrew Uaboi reaffirms long-term investment in West Africa’s fintech sector

Visa Nigeria commemorated Africa Day 2026 with a vibrant gathering at its Lagos office, celebrating the continent’s diverse heritage and reinforcing the company’s commitment to digital transformation across West Africa. The event, held on Saturday, brought together Visa staff from different parts of Nigeria and the sub-region to share customs, naming ceremonies, and wedding traditions that define African identity.

The day’s activities centred on cultural presentations by employees, who showcased the unique practices that have shaped communities across generations. According to Visa, this approach aimed to strengthen workplace unity and recognise the central role of people in driving innovation for the continent’s fast-evolving digital economy.

Visa has steadily deepened its operations in Nigeria and across West Africa, partnering with banks, fintech firms, merchants, and government agencies to improve financial inclusion. As at June 2026, digital transactions continue to grow in volume across Lagos and other major cities. Speaking at the event, Andrew Uaboi, Vice President and Cluster Head for Visa West Africa, emphasised that Africa is not just a business territory for the company but an integral part of its identity. “Africa Day is a reminder of why the work we do here matters, and of the responsibility we carry to build systems that create real opportunity for people across the continent,” Uaboi stated.

He further noted that Visa’s expansion aligns with increased cross-border trade and mobile payment adoption from Lagos to Accra. “The energy and innovation we see across Africa every day—in our partners, employees, entrepreneurs and businesses—drives us forward,” Uaboi said during his address. He added that Visa remains committed to supporting local growth by investing in technology that enables secure transactions and connects African markets globally.

The celebration also reflected broader economic trends as Nigeria continues efforts to boost financial inclusion rates above 64 percent (NBS data). Stakeholders in the country’s fintech sector say initiatives like Visa’s will help reduce cash reliance while improving access to services for millions of unbanked Nigerians. As Africa’s digital landscape evolves rapidly, Visa confirmed it would maintain a long-term presence in West Africa through sustained partnerships and community engagement.

Source: https://www.pulse.ng/story/visa-celebrates-africa-day-2026-honouring-the-continents-identity-culture-and-digital-future-2026061514080518957

Continue Reading

Nigeria News (Standard)

Lagos: RetailWings Africa, Corner Block Sign Deal to Boost Working Capital for SMEs

Agreement enables retailers using RetailWings ERP platform to access credit without traditional collateral, targeting sector-wide growth

Published

37 minutes ago

on

June 15, 2026

By

Agreement enables retailers using RetailWings ERP platform to access credit without traditional collateral, targeting sector-wide growth

RetailWings Africa has entered into a strategic partnership with Corner Block Services Limited to expand access to working capital for small and medium-sized retailers across Nigeria. The agreement was formally signed at the RetailWings Africa head office in Lagos on 15 June 2026 by Managing Partner Akinola Akintilebo and Corner Block’s Head of Sales and Business Development, Matthew Enemona Ameh.

Under the new arrangement, eligible merchants operating on the RetailWings ERP platform can now apply for working capital financing through Corner Block Services Limited. Unlike conventional bank loans that require physical collateral, this initiative will use business performance data from the RetailWings system as a basis for credit assessment.

The companies said that limited access to credit remains a major constraint for many Nigerian retailers, especially small businesses that struggle to meet strict collateral demands from traditional lenders. According to both firms, this lack of financing continues to hinder inventory expansion, operational growth, and long-term sustainability within the retail sector.

“This partnership is designed to address one of the most pressing challenges facing African retailers — access to affordable working capital,” Akintilebo said during the signing ceremony. Ameh added that by leveraging digital business records, more SMEs would be able to scale up operations and improve their resilience in a competitive market.

Industry observers note that technology-driven solutions are increasingly being adopted to bridge financing gaps for local entrepreneurs. With this collaboration, stakeholders expect improved business stability and increased job creation in Nigeria’s retail sector over the coming year.

Source: https://guardian.ng/business-services/firms-partner-to-expand-access-to-working-capital-for-retailers/

Continue Reading