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Senate kicks against multiple budgets in a fiscal year

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.. tasks FIRS N35trillion revenue in 2026
.. As FG laments N30trillion shortfalls from N40trillion targeted revenue for 2025

The Senate Monday through its committee on Finance , expressed displeasure with multiple budgets implementation in a fiscal year by the federal government as experienced in 2025 .

It consequently tasked the Federal Inland Revenue Service ( FIRS) , to increase its projected revenue target for 2026 from N31trillion to N35trillion even as the federal government lamented shortfalls of N30trillion from N40trillion revenue target for 2025 .

Displeasure of Senators on multiple budgets implementations in a fiscal year , came to the fore during interactive session the Finance Committee , Chaired by Senator Sani Musa ( Niger East), had with leading Managers of the Nation’s economy on the 2026 – 2028 Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paoer ( FSP) .

The Minister of Finance and Coordinating Minister of the Economy , Wale Edun , had in his contextual explanations on projections for 2026 budget and implementation of the 2024 and 2025 budgets , informed the committee that while revenues for 2024 budget have been met, that of 2025 have not been met .

” Funding for the capital components of the 2024 budget have been met through realization of the total projection of N26trillion revenue but that of 2025 have not been met .

” Out of projected N40trillion revenue for 2025 fiscal year , only N10trillion have been realized, leaving a shortfall of N30trillion and consequently , making the federal government roll over 70% of capital projects captured in 2025 fiscal year to 2026 “, he said .

Worried by the submission , some members of the committee like Senators Danjuma Goje ( Gombe Central ) , Olalere Oyewumi ( Osun West) , Victor Umeh ( Anambra Central ) , Aminu Iya Abbas ( Adamawa Central ) etc , expressed displeasure with multiple budget implementations in a fiscal year .

Specifically , Senator Goje in his remarks said the practice of implementing multiple budgets in a single year is unacceptable to Nigerians .

” This ugly situation we found ourselves on multiple budget implementations should please end by this year . It is not acceptable. Things must be normalized from next year “, he said .

Senator Oyelere in his comment told the Minister that since budgetary proposals were not given to the government by the governed , government should please present realizable proposals to avoid non – implementations which usually dove tailed into multiple implementations in subsequent years .

Senator Victor Umeh and Ireti Kingibe in their remarks , wondered why the federal government did not fill the missing gaps in revenue targets , with borrowings approved for it from time to time by the Senate and by extension, the National Assembly .

Senator Sani Musa in his capacity as Chairman, however came to the rescue of the Minister by assuring his colleagues and by extension, Nigerians that the required normalization in budget projections and implementation shall be done from 2026 .

He added that 3 – man ad – hoc committee shall be set up by the committee to laise with the Minister and the Accountant – General of the Federation on payment of local contractors for projects executed in 2024 before expiration of the budget on 31st of this month.

For FIRS , Senator Sani Musa tasked its Chairman, Zacch Adedeji , to work towards realizing N35trillion as target revenue for 2026 fiscal year and not the earlier projected N31trillion mentioned by the Chairman.

The FIRS boss had in making the projection said the agency under him, realized N20.2trillion revenue in 2024 and N25.2trillion in 2025 .

He however said that the huge revenue being realized by FIRS and other agencies like Customs , are being swallowed and made insufficient by multiple budget implementations in a fiscal year.

The Minister of Budget and Economic Planning , Senator Atiku Bagudu and Minister of State ( Petroleum ) , Senator Heineken Lokpobiri in their submissions , defended the parameters set for the N54. 4trillion 2026 budget .

The parameters are 1.84million oil production per day , $64.85 oil price benchmark , N1, 512.00 to 1USD as exchange rate etc .

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The Central Bank of Nigeria (CBN) has issued a fresh warning to bank customers across the country, urging them to protect their financial information and avoid sharing their Personal Identification Numbers (PINs), passwords, or other sensitive banking details with anyone.

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The advisory was shared on the bank’s official 𝕏 (formerly Twitter) account as part of activities marking Global Money Week 2026.

According to the apex bank, the reminder became necessary due to the increasing cases of fraud and scams targeting unsuspecting bank customers.

In its message, the CBN encouraged Nigerians to remain vigilant and ensure that their banking details remain strictly confidential at all times. The bank emphasised that customers should never disclose their sensitive financial information, even to individuals who claim to be representatives of their banks.

“Protect your money by protecting your information. As we mark Global Money Week 2026, remember: your PINs, passwords, and banking details should never be shared with anyone, not even someone claiming to be from your bank. Stay alert. Stay safe,” the bank stated.

The CBN stressed that keeping personal banking information secure remains one of the most effective ways to prevent financial fraud.

The warning comes amid rising cases of fraud where criminals impersonate bank officials to trick customers into revealing sensitive financial details.

Fraudsters often reach their victims through phone calls, text messages, emails, or social media, falsely presenting themselves as representatives of financial institutions. Once customers disclose their information, the criminals can gain unauthorised access to their accounts and carry out fraudulent transactions.

Financial experts have repeatedly warned that such scams are becoming increasingly sophisticated, making public awareness crucial in the fight against financial crime.

Global Money Week is an annual international campaign that promotes financial literacy, responsible money management, and consumer protection.

The initiative is observed in many countries, including Nigeria, through awareness programmes designed to educate individuals—particularly young people—about safe financial practices.

Organisers say the campaign also aims to equip people with the knowledge and skills needed to make informed financial decisions while protecting themselves from fraud and financial exploitation.

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The futility of gender equality

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BY VICTORIA NGOZI IKEANO
 
Victoriangozii@gmail.com 08033077519
 
This month of March seems to be a special one for women. Last Sunday, the United Nations organisation (UN), a global body, comprising of all countries in our world marked International Women’s Day, This coming Sunday, the 15th of March, the church  will mark ‘Mother’s Sunday’, a day set aside to celebrate mothers.  For Muslim faithful, the 30-day period of fasting (abstaining from food, drinks and other ķ things from sunrise to sunset) continues in the month of March.  During this period of Ramadan which rolls over to the month of March, Mustim women daily attend gatherings for lectures that are meant to make them understand more, the teachings of Prophet Mohammed (PBOH). For Christians, Lent also continues in this month of March. Lent is the period from Ash Wednesday to the day before Easter “during which ..Christians give up food or activities they enjoy in memory of Christ’s suffering”.
 
 It is noteworthy that both Muslim and Christian faithfuls started their fasting periods same day  this year, namely on February 18, 2026. While the Muslim fast will culminate in the Sallah festival on March 21/22,  2026, the Christian 40-day fasting will be rounded off  with Easter celebration on April 5, 2026.  The bottom line is that believers are at this time shifting their gaze from ephemeral earthly trifles and looking upwards in supplication to the Creator,  We are inwardly seeking for lasting spiritual values at this period of Ramadan/Lent. There is reflection on life in general and we are beginning to ask the great questions of life:  Why are we here, what is the purpose of life on earth; why is there so much turmoil, disharmony in our world from the small family unit to the larger environment, among countries, in big and small things? Questions, questions,  If we genuinely seek in humility with an earnest longing  (at these fasting periods and at all times) to be true human beings that radiate peace and blessing to our environment,  irrespective of where Life places us here on earth, we shall find answers to these probing questions that assail our hearts. Not immediately, but gradually. It appears I am digressing….
 
Let us return to the specific topic ,of the status of women against the background of the searchlight being beamed on us on the occasion of the International Women’s Day, celebrated on the 8th of March every year. There are special gatherings, meetings to commemorate the day. At these events lectures, talks, speeches are presented from broad segments of the society. They all generally lament the sorry condition of women in Africa and other developing countries. And they end with a call to empower women socially, economically and politically. Truly, on the surface, the standing of women has improved generally;  from centuries ago when they were viewed as ‘sub humans’ more or less, to what obtains now when they enjoy a number of rights that were formerly denied them in bygone days. For example, females now have access to education from kindergarten to university level. Harmful traditional practices against women have generally been eased off although the touchy issue of child marriages still persists in some parts of our country.
 
 Marrying off girls at very young ages of  when their bodies are not yet fully mature has negative consequences for both their physical bodies and souls. Apparently indulgence in sexual intercourse upon being married off, accelerates onset of menstruation in them enabling them to get pregnant. But such physical maturity is more or less artificial, setting in before its naturally due time. It is like a fruit whose covering is ripe while the fruit itself inside is not yet ripe. Such a fruit would have little nutritional value.   Children should be left to enjoy their childhood years. They should not be forcefully made to be mothers at a tender age when they are not fully conscious of their task. Nor should children be made to associate/mingle with adults because they both have different outlooks to Life. Nature’s law of homogeneity should be adhered to at all times.
 
   Economically, women are no longer locked up in the house 24/7. Many now go out to work as salary earners. The informal trade is populated by women. And not a few of them can now be found in boardrooms of local and international conglomerates and other companies.  In the political field we have quite a number of women occupying high offices in this regard but women are still clamouring for more insisting that women are still marginalized a lot here. Overall, women say they still suffer a lot of inequality with men to this day. In fact in commemoration of this year’s International Women’s Day, the United Nations released a report that showed that gender equality is still a dream. “It is 2026 and as yet, no country has achieved gender equality. At the current rate of progress, it could take hundreds of years for women and girls to have the same rights and protections as men”, the UN stated.
 
But what exactly do we mean by gender equality’? Does it mean that we should be equal to men in all respects, that we should rub shoulders with them in all ramifications? This is a tall dream, impossible and can never happen for the simple reason that men and women are different in nature. They are cut out for different kinds of activities/roles by Nature. This is evident from their physique — men with their muscular build and women with their supple, broad hips. Thus women are suited to fine, negative kinds of activities and men coarse, hard, positive (gra gra) types. Should a woman for example be engaged in a man’s kind of activity she would not be able to perform it as good as a man and vice versa. For instance a woman deployed as an infantry soldier,  that is being in the war front as a foot combatant soldier to defend the country against its enemy of whatever kind, cannot excel in that job because of her nature, Instead a man with his coarse nature will do a better job of it. Should a female indulge in a male kind of activities over a long, long period then she will gradually coarsen her natural feminine qualities; and overtime she becomes a distorted soul. That is, a woman with male features. This also applies to men that overtime undertake feminine kinds of activities.  Such distorted souls whether male or female, are the origins of LBGQT (Lesbian, bisexual, gay, queer, transgender) persons.
 
   Women and men are split species, so they complement each other; they do not compete against each other. In performing activities assigned them by Nature and for which they are thus naturally suited, both of their activities being complementary become a complete whole that is then of full value. Thus a woman does not literary speaking stand before or behind a man but BESIDES the man, working and walking hand in hand, complementing each other’s work/activities to produce  what is complete which is then of full value to the society. Therefore, gender equality in the true sense of the word is a mirage.

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L- r Secretary to the Government of the Federation (SGF), Senator George Akume; President of the Senate, Godswill Akpabio; Committe Secretary, Ismail Ahmed and Deputy Senate Leader, Lola Ashiru, during the inauguration of the All Progressives Congress ( APC) Convention Sub Committee on Programes and Events by Senator Akpabio yesterday in Abuja. Photo: Senate President’s Office

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