N46bn budgetary allocation insufficient for Labour Ministry — Minister berates NASS
…We are strengthening audit systems to tackle corruption in procurement – BPP DG
By Seun Ibiyemi and Matthew Dennis
The Federal Government has assured Nigerians that the nation’s economy is on a steady path to recovery and growth, driven by critical reforms and fiscal measures introduced by the administration of President Bola Ahmed Tinubu.
This is even as the National Assembly Joint Committee approved the Ministry of Finance’s N38 billion budget for 2025 and N46 billion to the Ministry of Labour and Employment.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this disclosure today in Abuja during the 2025 budget defence session before the Senate Committee on Finance.
Pointing out the administration’s economic strategies, Edun noted that the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and expansion of domestic refining capacity have been pivotal in stabilising the economy.
Expressing optimism, Wale Edun said, “We are confident that these reforms will transform Nigeria’s economic landscape, fostering growth and improving the quality of life for all citizens.”
According to the Minister, these measures are fostering fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.
“These reforms, though challenging in the short term, will yield long-term benefits, including job creation, poverty reduction, and greater economic resilience,” Edun stated.
The Minister also noted the government’s focus on infrastructure development, particularly in digital networks and energy, as key to enhancing productivity and attracting private sector investments. He reiterated the administration’s commitment to providing a foundation for sustained economic growth and improving the standard of living for Nigerians.
During the session, the Senate Committee on Finance approved the Ministry of Finance’s N38 billion budget for 2025. The committee commended the Ministry’s leadership for its dedication to fiscal discipline and efforts to revive the economy.
Edun was accompanied at the budget defence by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite; the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya; the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein; and other top officials of the Ministry.
We are strengthening audit systems to tackle corruption in procurement – BPP DG
Also, Director General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, has said the agency is strengthening its audit systems in a bid to tackle corruption in public procurement in the country.
He said this when he appeared before the Committee on Public Procurement to defend the Bureau’s 2024 budget performance and 2025 proposal.
Adedokun, however, decried the budgetary ceiling placed on the agency, which he feared would hamper this
