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 Shocker as Nigeria spends N3.132 trn on National Assembly in 25 years

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The National Assembly is literally in the eye of the storm over its handling of the 2024 budget, in which collectively, the federal legislature will spend a princely N514 billion this year.

In line with the Federal Government’s plan to begin the fiscal year on January 1, the National Assembly on December 30, 2023 passed the budget presented by President Bola Tinubu, on November 29, 2023.

In passing the budget, the lawmakers raised the budget from N27.5 trillion to N28.78 trillion. They also jerked up the N197.93bn originally proposed by the Executive for the National Assembly N344.85 billion.

However, if other planned expenditures tied to the National Assembly, such as N100bn for zonal intervention projects and votes for the completion of ongoing projects were added, the legislature would be spending at least N514bn from the N28.78 trillion budget this year, according to Statisense.

With this, it means that by the end of 2024, Nigeria would have spent the sum of N3.132 trillion on the National Assembly, which has 109 senators and 360 House of Representatives members, going by budgetary allocations since 1999.

The N3.132 trillion trillion is 5.52 per cent of the N176.470 trillion appropriated by the Federal Government since Nigeria returned to civil rule in 1999, Vanguard’s check indicates.

Within the period, the National Assembly passed 816 bills that were signed into law by various presidents. Although the legislature, which is the symbol of democracy, performs other functions including oversight on the other arms of government, especially the executive arm, and passes motions and resolutions, lawmaking or passage of bills is, arguably, the primary duty of the lawmakers.

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Thus, if the N3.132 trillion allocated to the National Assembly since 1999 is accounted for by the number of bills that became laws, it means a bill costs N3.838 billion.

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In the 4th National Assembly, 1999 -2003, the Senate passed 65 bills while the House of Representatives passed 112 bills but the lawmakers in both chambers had concurrence on 65.
Then, there was much leadership instability in the National Assembly on account of frosty relations with the executive arm among other issues.

There was a marked improvement in the 5th Assembly when 129 bills were passed. The figure plummeted to 72 bills in the 6th Assembly, rose to 128 in the 7th and all-time high of 282 bills in the 8th Assembly, and 134 bills in the 9th Assembly that expired at the weekend.

The 9th Assembly would have had more bills to its credit but for the refusal of President Buhari to assent and the inability of the legislators to override him.

Also, the 9th Senate, as of June 10, 2023, according to the immediate past Senate President, Ahmad Lawan, considered 1,129 bills and passed over 500. President Buhari assented to 131 bills.

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“In the last few days, President Bola Tinubu has assented to two bills passed by the 9th National Assembly, namely the “Constitution of the Federal Republic of Nigeria, 1999 (Fifth Alteration) (No.37) Bill, 2023”, which extends the retirement age of high court judges, and others, from 65 to 70 years. This was the first Bill to be signed by the President since taking the oath of office. Only yesterday, 9th June, 2023, he also assented to the Electricity Act 2023, which we had passed in July 2022. The new law replaces the Electricity and Power Sector Reform Act of 2005,” he said in his valedictory speech.

On June 12, President Tinubu signed the Student’s Loan (Access to Higher Education) Bill, 2019, into law. The bill was sponsored by Rep Femi Gbajabiamila.

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So, altogether, the 9th National Assembly had 134 bills signed into law.

10th NASS

So far, the Senate President Godswill Akpabio-led 10th National Assembly is said to have passed 6 bills including the 2023 Supplementary Budget Bill and the 2024 Budget.

However, the legislators’ handling of the 2024 budget elicited criticisms in the polity.
Budget has unbelievable allocations – LP

Describing some of the allegations as unbelievable, the Labour Party urged the President Tnubu-led All Progressives Congress APC administration to pay greater attention to the security and welfare of Nigerians in the New Year as opposed to its current fixation on the comfort of government officials.

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In a statement by its National Publicity Secretary, Obiora Ifoh, the LP said: “As we bid the year 2023 farewell and usher in 2024, we in the Labour Party, pray that God intervenes and brings succor to us all as Nigerians have been exposed to uphold hardships because of maladministration and insensitive government in place.

“While we pray, we also enjoin Nigerians to take a closer look at budgetary provisions and sectoral allocations in the 2024 budget.

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“Without a doubt, the President Bola Tinubu-led All Progressives Congress administration has displayed a disdain for the security and welfare of Nigerians.

“Looking at the 2024 budget, we cannot fail to notice the undue attention given to the comfort of those in power to the detriment of the majority of Nigerians.

“Critical sectors of the economy such as Education and Health were allocated N1.27tr and N1.33tr representing 7.9 and 4.8 per cent of the entire budget respectively.

“This is in a budget which has items like N3bn for Senate Car Park, N1bn for Constitution Review, N78.62bn for the House of Representatives and N36.727bn for the National Assembly Office, N4bn for National Assembly Recreation Centre among other unbelievable allocations.

Source: Vanguard

 

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REVEALED: 7 Businesses Owned By Mr Eazi That Many Nigerians Do Not Know About [FULL LIST]

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When Oluwatosin Ajibade, popularly known as Mr Eazi, tied the knot with Temi Otedola, daughter of billionaire businessman Femi Otedola, many in Nigeria’s elite circles questioned why one of the nation’s most prominent families would give their daughter’s hand to a musician.

But at the couple’s white wedding in Iceland, Africa’s richest man, Aliko Dangote, provided an answer that silenced critics by confirming Mr Eazi as an entrepreneur with businesses across 18 countries on the continent.

Below is a list of Mr Eazi’s businesses, not known to many Nigerians.

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1- emPawa Africa – Founded in 2018, emPawa is a talent incubation and music distribution platform that has helped launch stars like Joeboy. It provides mentorship, funding, and resources for up-and-coming artists across Africa.

2- Zagadat Capital – Mr Eazi’s venture capital firm invests in startups in tech, media, and entertainment. Notable investments include:

3- pawaPay – A pan-African mobile payments company.

4- Thrive Agric – an agri-tech startup connecting farmers to investors.

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5- BetPawa – A popular online betting platform.

6- Street Banker – A financial inclusion project for underserved communities.

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7- Choplife Gaming & Choplife SoundSystem – Expanding beyond music, Eazi launched Choplife Gaming in 2022, a pan-African lottery and gaming company. His Choplife SoundSystem blends music, events, and lifestyle branding into a cultural business model.

Although less publicised, the singer has confirmed investments in real estate projects across Nigeria and Ghana, as well as hospitality ventures linked to his Choplife brand.

Through Zagadat Capital, Eazi also holds stakes in several fintech firms driving financial inclusion across Africa.

Now married into one of Nigeria’s most influential families, Mr Eazi embodies a hybrid lifestyle — blending music, global entrepreneurship, and elite family life.

READ ALSO  REVEALED: 7 Businesses Owned By Mr Eazi That Many Nigerians Do Not Know About [FULL LIST]

For him, business has never been secondary.

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As Dangote hinted, music may be just the tip of the iceberg. With ventures spread across at least 18 African countries, Eazi is positioning himself not just as a musician, but as one of the continent’s most ambitious entrepreneurs.

And with his marriage to Temi Otedola, many say the couple may just become Africa’s new symbol of power, wealth, and influence.

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2027 Election: “Tell Tinubu This”,  – Primate Ayodele Sends Strong Warning To Tinubu In New Prophecy

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Primate Ayodele: A priest or political analyst? His 7 prophecies that failed
The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has told President Tinubu to focus on policies that will make Nigerians happy, other than some of his current policies, which he described as ‘irrelevant’, also revealed some of the advisers to lead to the end of his government if care isn’t taken.

Prophet Ayodele has consistently been in the news week in, week out. It is either he is releasing a fresh prophecy that’s gaining traction or a previous prohecy has just come to fulfilment and people are talking about it.

In a statement signed by his media aide, Osho Oluwatosin, Primate Ayodele stated that the present administration is full of wrong advisers who are pushing for irrelevant policies, and making good advisers enemies of the president.

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The prophet warned the president against making good advisers his enemies, as it will lead to the end of his government if care isn’t taken.

“Tinubu’s administration is full of wrong advisers; they are turning him against his good advisers, and he will make them his enemies. He is creating enemies, and those whom he thinks love him would be his worst enemies.

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“There are lots of irrelevant policies they are using to kill Tinubu’s government; these are policies that will build up massive protests against the government and division. He should do the needful; there are several irrelevant policies already, but the focus ought to be on what will make people happy. “

Primate Ayodele mentioned some things the president should focus on, and they include development and surplus for the people. He stated that road construction is good, but it’s not enough for the people.

He commended the president for his efforts on insecurity but urged him to do more.

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“Tinubu should focus on development, on how to create surplus for the people. Road construction is good, but it’s not the only thing people need; he needs to look into other areas.

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“On insecurity, he is doing well, but he should do more, activate forest security in order to end kidnapping. He should increase the salaries of national assembly members because it will turn the nation into chaos. He should also eradicate darkness, and not add more tariffs and taxes to basic things in the country.”

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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 14th September 2025

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What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for yesterday 13th September, below. You can swap your dollar for Naira at these rates.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1520 and sell at N1550 yesterday 13th September 2025, according to sources at Bureau De Change (BDC).CLICK LINK TO CONTINUE READING

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Aboki BDC

Yemi Cardoso CBN Governor

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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 13th September 2025

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What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for yesterday 11th September, below. You can swap your dollar for Naira at these rates.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1525 and sell at N1550 yesterday 12th September 2025, according to sources at Bureau De Change (BDC).CLICK LINK TO CONTINUE READING

READ ALSO  REVEALED: 7 Businesses Owned By Mr Eazi That Many Nigerians Do Not Know About [FULL LIST]

Aboki BDC

Yemi Cardoso CBN Governor

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EXPOSED: Truth About Peter Obi’s Son Revealed, Close Friend Speaks

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Amidst swirling rumors surrounding Oseloka Obi, the son of Peter Obi, the Labour Party’s presidential candidate for 2023, a new twist has emerged regarding persistent allegations about his gender identity.

In response to a flurry of speculation, Oseloka has taken a stand against the viral claims connecting him to homosexuality, which were sparked by the circulation of photographs featuring him alongside Kent Okwesa, a British-Nigerian based in London. Click link to continue reading.

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MANCHESTER DERBY: Erling Haaland Vows To Revenge Against United

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“We’ve lost two games in a row, it’s not good enough, it’s way too bad,” he said, speaking to Viaplay in Norway. “We need to figure it out, get back to winning ways.

Pep Guardiola’s side are in the bottom half of the Premier League table heading into the clash having lost back-to-back matches against Tottenham and Brighton before the international break. Click link to continue reading.

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