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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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Odu’a Investment Acquires 10% Stake in FCMB Pensions
Odu’a Investment Company Limited has acquired a 10 per cent minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc, in a move to strengthen its presence in Nigeria’s pension sector. The company said the transaction followed regulatory approvals from the National Pension Commission and the Central Bank of Nigeria, while the…
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Nigeria Records $96bn Crypto Transactions – SEC
Nigeria’s digital finance ecosystem recorded approximately $96 billion in cryptocurrency and virtual asset transactions, according to the Director-General of the Securities and Exchange Commission, Emomotimi Agama. Agama disclosed this during a stakeholders’ engagement session organised by the Federal Ministry of Finance in Abuja, noting that the scale of activity underscores the need for stronger regulatory…
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Nigeria to Adopt T+1 Settlement Cycle in Capital Market
Nigeria’s capital market will transition to a T+1 settlement cycle from May 29, 2026, in a move aimed at improving efficiency and aligning with global standards. The change was announced by the Central Securities Clearing System, the clearing and settlement arm of the Nigerian Exchange Group. Under the new framework, all securities transactions will be…



