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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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Court Rejects Abubakar Malami’s Bail Application from EFCC Custody
A Federal Capital Territory High Court in Abuja has dismissed an application by former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, seeking bail from the custody of the Economic and Financial Crimes Commission. The court ruled that Malami’s detention was lawful, citing a valid remand order issued by a court of coordinate…
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SpaceX Begins IPO Quiet Period Ahead of 2026 Listing
SpaceX has begun a regulatory quiet period, signalling progress toward a potential initial public offering expected in 2026. The Elon Musk-led aerospace and satellite company reportedly informed employees through an internal communication that it has entered a phase during which public discussions about its growth, valuation or listing plans are restricted. A quiet period is…
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Guinea Insurance to Raise ₦15bn via Rights Issue, Private Placement
Guinea Insurance Plc has secured shareholder approval to raise up to ₦15 billion in additional equity capital as part of efforts to comply with revised regulatory capital requirements and strengthen its financial base. The approval was granted at the company’s Extraordinary General Meeting, where shareholders authorised the Board of Directors to raise the funds through…



