PRESIDENT TINUBU RECONSTITUTES NNPC LIMITED BOARD, APPOINTS NEW CHAIRMAN, GROUP CEO. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE PRESIDENT TINUBU RECONSTITUTES NNPC LIMITED BOARD, APPOINTS NEW CHAIRMAN, GROUP CEO President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari.   President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023.   The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.   Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.   Six board members, non-executive directors, represent the country's geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represe...
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NATIONAL ASSEMBLY SET TO PASS N49. 7TRN 2025 BUDGET IN FEBRUARY. (PHOTO).

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 National Assembly set to pass N49.7trn 2025 budget in February 


Details about how the National Assembly plans to pass the proposed N49.7 trillion 2025 Appropriation Bill have emerged. 

According to the legislative timeline, the joint National Assembly Committee on Appropriations will lay its report on the budget on Friday, 31 January 2025, setting the stage for its anticipated passage in early February. 

The National Assembly’s timetable noted that Ministries, Departments, and Agencies (MDAs) are expected to defend their allocations before the relevant committees starting Monday, 7 January 2025. 

A memo obtained by our correspondent in Abuja revealed that the Senate Committees on Appropriations and Finance will meet with key government officials on Friday, 7 January, at 2 p.m. 

These officials include Wale Edun, the Minister of Finance and Coordinating Minister of the Economy; Atiku Bagudu, the Minister of Budget and Economic Planning; and the Director-General of the Budget Office of the Federation. 

Joint budget defence sessions between the Senate and House of Representatives’ appropriations subcommittees, alongside relevant MDAs, will begin on Wednesday, 8 January, and continue until Wednesday, 15 January 2025. 

The timetable indicates that the Appropriations Committee will present its final report on the budget on Friday, 31 January 2025. 

Senator Adeyemi Adaramodu (APC – Ekiti South), Chairman of the Senate Committee on Media and Publicity, confirmed the timeline in Abuja. 

President Bola Ahmed Tinubu presented the N49.7 trillion budget proposal, titled “The 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity,” during a joint session of the Senate and the House of Representatives on 18 December 2024. 

The President highlighted the budget’s focus on securing peace, fostering prosperity, and ensuring hope for a greater future for Nigeria. 

The Senate passed the 2025 Appropriation Bill for a second reading on 19 December, following a debate on its objectives and principles. 

It was then referred to the Senate Committee on Appropriations, chaired by Senator Solomon Adeola (APC – Ogun West), for further scrutiny. 

The House of Representatives also advanced the Bill to its Committee on Appropriations for additional legislative work. 

With the legislative process underway, all indications point to the budget’s passage in early February 2025.

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