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Governors Outline Ambitious Plans to Bridge Infrastructure Deficits
Nigerian state governors have unveiled ambitious plans to address infrastructure deficits through increased capital expenditure in their 2025 budgets.
A total of N17.51tn has been allocated for capital projects in 2025, marking a 54.39% increase from the N11.34tn proposed in 2024. Despite these efforts, a funding deficit of N3.98tn hindered project implementation last year.
Improved statutory allocations from the Federation Account Allocation Committee, which increased by 49.24% to N15.12tn in 2024, provide some relief. However, states continue to face financial challenges that delay critical projects, including roads, healthcare, and education, affecting citizens’ quality of life.
Analysis reveals varying implementation rates for 2024 budgets, with nine states achieving over 80%, 15 states falling between 50–76%, and eight states scoring below 50%. Lagos, Niger, and Enugu lead in prioritizing infrastructure spending, with Lagos allocating N2.07tn in 2025. Other states, including Delta, Akwa Ibom, and Abia, have also outlined significant investment plans.
Experts have raised concerns about states’ ability to meet these targets due to low internally generated revenue, inefficiencies in tax collection, and rising recurrent costs. On average, only 60% of budgeted capital expenditure is executed annually, posing a challenge to achieving long-term development goals.
As citizens anticipate the execution of these ambitious plans, stakeholders urge states to address funding and implementation constraints to close infrastructure gaps and foster economic growth.
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NUPRC Shortlists Bidders for Nigeria’s Oil Licensing Round
The Nigerian Upstream Petroleum Regulatory Commission has shortlisted bidders for Nigeria’s 2025 oil and gas licensing round, marking the conclusion of the pre-qualification phase. In a statement issued on Tuesday and signed by its Head of Media and Strategic Communication, Eniola Akinkuotu, the commission confirmed that successful applicants have been formally notified. The regulator said…
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BUA Cement Executives Snap Up Shares Worth Over ₦201 Million
BUA Cement Plc has reported fresh insider share purchases by two of its senior executives, with total transactions exceeding ₦201 million, signaling continued confidence in the company’s outlook. The firm disclosed that its Chief Financial Officer and Executive Director, Chikezie Ajaero, acquired 350,000 shares valued at ₦94.46 million at a unit price of ₦269.9. Similarly,…
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TrustBanc Launches N20bn Commercial Paper Issuance
TrustBanc Holdings Limited has announced the launch of a N20 billion commercial paper issuance under its N100 billion programme, as it seeks to strengthen its short-term funding position. The offer, which opened on March 12, is scheduled to close on March 23, with two series available to investors. Series 1 has a tenor of 268…