Investogist
No Result
View All Result
Thursday, June 4, 2026
  • News
    • All
    • Africa
    • Nigeria
    • World
    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

    Honeywell Flour Reports 12% Profit Growth in FY 2026, Recommends ₦0.20 Kobo Dividend

    Honeywell Flour Reports 12% Profit Growth in FY 2026, Recommends ₦0.20 Kobo Dividend

    Tinubu to deploy 1,000 forest guards, special rescue team to Ogbomosho

    Tinubu to deploy 1,000 forest guards, special rescue team to Ogbomosho

    NNPC Accuses Dangote Refinery of Seeking Fuel Monopoly

    NNPC Accuses Dangote Refinery of Seeking Fuel Monopoly

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Commences Share Buyback Programme of Up to $110 Million

    Fubara, Cole Withdraws from APC Governorship Primaries

    Fubara, Cole Withdraws from APC Governorship Primaries

    EFCC Nabs Fleeing Convicted Ex Power Minister for ₦33.8bn Fraud

    EFCC Nabs Fleeing Convicted Ex Power Minister for ₦33.8bn Fraud

    SEC Moves Nigerian Capital Market to T+1 Settlement System

    SEC Moves Nigerian Capital Market to T+1 Settlement System

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Bill to prohibit foreign currency use in Nigeria scales first reading

    Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Announces Currency Options for 4.26 Cents Final Dividend

    Dangote Refinery Slashes Jet Fuel Price to N1,650/Litre

    Dangote Refinery Slashes Jet Fuel Price to N1,650/Litre

    Access Bank UK set to acquire Mauritius  AfrAsia Bank

    Access Holdings Explains Non-Payment of 2025 Dividend Despite N1.01 Trillion Profit

    United Capital Completes Recapitalisation of SEC-Regulated Subsidiaries 14 Months a Ahead of Regulatory Deadline

    United Capital Completes Recapitalisation of SEC-Regulated Subsidiaries 14 Months a Ahead of Regulatory Deadline

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

    Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

    Bill to prohibit foreign currency use in Nigeria scales first reading

    Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Announces Currency Options for 4.26 Cents Final Dividend

    First HoldCo Plc Appoints New Group Company Secretary

    First HoldCo Approves ₦253bn Capital Raise to Achieve ₦1 Trillion Capital

    Mutual Benefits Assurance Declares Final Dividend for 2025 FY

    Mutual Benefits Assurance Declares Final Dividend for 2025 FY

    The Initiates Expands African Footprint with $2.02 Million Investment in Uganda

    The Initiates Expands African Footprint with $2.02 Million Investment in Uganda

    Tantalizers Signs MOU to Acquire 24 Trawlers and Fisheries Assets from Karflex

    Tantalizers Signs MOU to Acquire 24 Trawlers and Fisheries Assets from Karflex

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    • Companies
    • Industry
    • Technology
    • Financial Education
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    NEIMETH lists additional 2.37 billion shares on NGX

    Neimeth Opens N4.00 Rights Issue to Shareholders

    NCR Nigeria explains the delay in filing the Q1 2026 Account

    NCR Nigeria explains the delay in filing the Q1 2026 Account

    MicroStrategy Raises $82 Million in Stock Sale, Pauses Bitcoin Purchases

    MicroStrategy Raises $82 Million in Stock Sale, Pauses Bitcoin Purchases

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Nestlé Nigeria Publishes List of Unclaimed Dividends

    Nestlé Nigeria Publishes List of Unclaimed Dividends

    Acceptance for Champion Breweries Plc Take-Over Offer closes soon

    Champion Breweries Lists 2.38 Billion New Shares on NGX After Hybrid Offer

    NGX Delists DN Tyre, Greif Nigeria from Official List

    NGX Delists DN Tyre, Greif Nigeria from Official List

    Unilever Declares ₦3.25 Final Dividend For 2025 FY

    Unilever Nigeria Discloses Foods Deal with McCormick

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Financial Education
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

    Honeywell Flour Reports 12% Profit Growth in FY 2026, Recommends ₦0.20 Kobo Dividend

    Honeywell Flour Reports 12% Profit Growth in FY 2026, Recommends ₦0.20 Kobo Dividend

    Tinubu to deploy 1,000 forest guards, special rescue team to Ogbomosho

    Tinubu to deploy 1,000 forest guards, special rescue team to Ogbomosho

    NNPC Accuses Dangote Refinery of Seeking Fuel Monopoly

    NNPC Accuses Dangote Refinery of Seeking Fuel Monopoly

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Commences Share Buyback Programme of Up to $110 Million

    Fubara, Cole Withdraws from APC Governorship Primaries

    Fubara, Cole Withdraws from APC Governorship Primaries

    EFCC Nabs Fleeing Convicted Ex Power Minister for ₦33.8bn Fraud

    EFCC Nabs Fleeing Convicted Ex Power Minister for ₦33.8bn Fraud

    SEC Moves Nigerian Capital Market to T+1 Settlement System

    SEC Moves Nigerian Capital Market to T+1 Settlement System

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Bill to prohibit foreign currency use in Nigeria scales first reading

    Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Announces Currency Options for 4.26 Cents Final Dividend

    Dangote Refinery Slashes Jet Fuel Price to N1,650/Litre

    Dangote Refinery Slashes Jet Fuel Price to N1,650/Litre

    Access Bank UK set to acquire Mauritius  AfrAsia Bank

    Access Holdings Explains Non-Payment of 2025 Dividend Despite N1.01 Trillion Profit

    United Capital Completes Recapitalisation of SEC-Regulated Subsidiaries 14 Months a Ahead of Regulatory Deadline

    United Capital Completes Recapitalisation of SEC-Regulated Subsidiaries 14 Months a Ahead of Regulatory Deadline

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

    Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

    Bill to prohibit foreign currency use in Nigeria scales first reading

    Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

    Airtel Africa Releases Audited Financial Statements for Q1 2026

    Airtel Africa Announces Currency Options for 4.26 Cents Final Dividend

    First HoldCo Plc Appoints New Group Company Secretary

    First HoldCo Approves ₦253bn Capital Raise to Achieve ₦1 Trillion Capital

    Mutual Benefits Assurance Declares Final Dividend for 2025 FY

    Mutual Benefits Assurance Declares Final Dividend for 2025 FY

    The Initiates Expands African Footprint with $2.02 Million Investment in Uganda

    The Initiates Expands African Footprint with $2.02 Million Investment in Uganda

    Tantalizers Signs MOU to Acquire 24 Trawlers and Fisheries Assets from Karflex

    Tantalizers Signs MOU to Acquire 24 Trawlers and Fisheries Assets from Karflex

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    • Companies
    • Industry
    • Technology
    • Financial Education
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    Aliko Dangote Secures Approval for Ethiopia-Djibouti Oil and Gas Pipelines Projects

    NEIMETH lists additional 2.37 billion shares on NGX

    Neimeth Opens N4.00 Rights Issue to Shareholders

    NCR Nigeria explains the delay in filing the Q1 2026 Account

    NCR Nigeria explains the delay in filing the Q1 2026 Account

    MicroStrategy Raises $82 Million in Stock Sale, Pauses Bitcoin Purchases

    MicroStrategy Raises $82 Million in Stock Sale, Pauses Bitcoin Purchases

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Banking Stability Concerns Rise as Nestoil Loans Block Dividends at Three Major Banks

    Nestlé Nigeria Publishes List of Unclaimed Dividends

    Nestlé Nigeria Publishes List of Unclaimed Dividends

    Acceptance for Champion Breweries Plc Take-Over Offer closes soon

    Champion Breweries Lists 2.38 Billion New Shares on NGX After Hybrid Offer

    NGX Delists DN Tyre, Greif Nigeria from Official List

    NGX Delists DN Tyre, Greif Nigeria from Official List

    Unilever Declares ₦3.25 Final Dividend For 2025 FY

    Unilever Nigeria Discloses Foods Deal with McCormick

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Financial Education
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

How the National Assembly is abusing its appropriation powers, fueling inefficiency and waste – BudgIT

Wednesday, 14 December 2022, 3:22 pm
in News, Nigeria
0
Terror alert: ‘Stop and search’ begins at NASS complex
Share Share Share Share Send as Email

BudgIT has accused the National Assembly of “gross abuse of appropriation powers, fueling inefficiency & waste that contribute to poor service delivery and ineffective economic policy,” in its latest report which based its findings on the National Assembly’s review of the Federal Government budget.

BudgIT analyzed the 2021 and 2022 proposed and approved budgets of the Federal Government of Nigeria to ascertain the quality of the National Assembly review of the 2021 and 2022 Federal Government Appropriation Bills.

1,522 projects with a cumulative cost of N186.61bn were inserted into the 2022 budget of Federal Ministry of Agriculture and Rural Development, Nigeria.

.Key allocations to projects that are crucial to achieving the strategic goal of the Nat Devt Plan were drastically reduced to create fiscal space for the National Assembly.

According to the report, a number of projects in the 2022 approved budget can be directly linked to principal officers of the National Assembly.

The report read in part: “Overall, while the 2021 approved budget contained 19,017 capital projects, the 2021 proposed budget contained 13,416 projects, signalling that 5,601 capital projects were added to the Appropriation Bill during the review of the Bill by the National Assembly.

“It was observed that the monetary value of the 5,601 inserted projects summed up to N913.15bn (which is 21.8% of the total capital expenditure for 2021), spread across 32 Mother Ministries and 327 Ministries, Departments and Agencies (MDAs) of the Federal Government.

“Similarly, in 2022, and alluded to by the President during the signing of the 2022 Appropriation Act, BudgIT observed that 6,462 projects were inserted by the National Assembly across 37 Mother Ministries and 340 MDAs. Cumulatively, the monetary value of the National Assembly insertions in the 2022 Appropriations Act was N910.37bn (which is 22.07% of the total capital expenditure for 2022).

“A critical look at the nature of insertions for the years under review, 2021 and 2022, revealed that the majority of the insertions are projects that ideally should be the responsibilities of subnational governments (state and local governments).

“Furthermore, despite the fact that the Executive had earmarked N100bn for Zonal Intervention Projects (ZIPs)—also known as constituency projects, nominated by the 365 Federal House of Representative Members and 109 Senators—BudgIT identified, as part of the insertions, 1,581 “Federal Constituency” projects in the 2021 Appropriation Act and 1,834 “Federal Constituency” projects in the 2022 Appropriation Act valued at N105bn and N137.07bn respectively.

“In the same vein, the 2021 Act had 1,055 insertions valued at N103.15bn, which were projects in senatorial districts, while the 2022 Act had 1,235 insertions valued at N139.26bn, which were projects in senatorial districts..”

“It is worthy of note that 614 street light projects with a cumulative value of N75.83bn, which were insertions observed in 2021, increased to 902 street light projects in 2022 valued at N114.95bn.”

Click here to download full report.

About BudgIT

BudgIT is a civic organization driven to make the Nigerian budget and public data more comprehensible and accessible across every literacy span. BudgIT which was founded in 2011,  applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change. Its primary goal is to use technology to
intersect civic engagement and institutional reform.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

Related Posts:

  • Ogun State
    Ogun State House of Assembly passes 2024…
  • IMG-20230225-WA0000
    Polls Open for Presidential and National Assembly Elections
  • rocket emoji
    NSE daily report: Dangote Cement Plc powers index to…
  • Rep
    Install Solar powers in hospitals, University - Rep tells FG
Previous Post

2022 World Cup final match will be my last – Lionel Messi

Next Post

I did the wrong thing for the internet and society – Jack Dorsey apologizes

Next Post
I did the wrong thing for the internet and society – Jack Dorsey apologizes

I did the wrong thing for the internet and society - Jack Dorsey apologizes

Please login to join discussion
  • Trending
  • Comments
  • Latest
Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Bill to prohibit foreign currency use in Nigeria scales first reading

Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

Dangote Cement Profits Soar to ₦743bn on Price Increase

Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

Abbey Mortgage Bank Secures CBN Approval for Conversion to Regional Commercial Bank

Bill to prohibit foreign currency use in Nigeria scales first reading

Nigeria’s Capital Importation Hits $10.37bn in Q1 2026

Dangote Cement Profits Soar to ₦743bn on Price Increase

Dangote Refinery Faces Competition as Ardova, Ibeto Cut Prices

Airtel Africa Releases Audited Financial Statements for Q1 2026

Airtel Africa Announces Currency Options for 4.26 Cents Final Dividend

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2026 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
    • Financial Education
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Financial Education
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved