Uncategorized
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.
-
FG Takes Over Keystone Bank After ₦6.3 Billion Share Forfeiture
The Federal Government of Nigeria has officially taken control of Keystone Bank after a Lagos High Court mandated the forfeiture of shares valued at ₦6.3 billion. The ruling follows allegations that the bank was acquired using illicit funds linked to former stakeholders. In a public announcement, Keystone Bank confirmed that it is now fully owned…
-
DMO Allocates ₦4.28 Billion in May 2025 FGN Savings Bonds Amid Strong Investor Demand
The Debt Management Office (DMO) has successfully allocated a whopping ₦4.28 billion in Federal Government Savings Bonds for May 2025, fueling investor excitement in Nigeria’s debt market. The bonds, offered in two attractive tenors—a 2-year at 16.173% and a 3-year at 17.173% interest—saw robust demand with thousands of investors snapping up units ahead of the…
-
Investor Confidence Soars as Ecobank Secures $125M in Eurobond Deal
Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has successfully raised $125 million through the issuance of 10.125% Senior Notes due in 2029, signaling renewed investor confidence in Sub-Saharan African debt markets. The new issuance, completed on May 15, 2025, will be consolidated with the bank’s existing $400 million 10.125% Senior Notes…