• Tinubu seeks fresh N1.15tr loan to bridge 2025 budget gap
• Contractors barricade National Assembly over unpaid debts
• Reps issue ultimatum to ministers, reverse one-week plenary suspension

The National Assembly was engulfed in a flurry of legislative and political drama yesterday, as lawmakers grappled with infrastructure failures, public debt concerns and protests over unpaid contracts.

At the Senate, lawmakers resolved to launch a comprehensive probe into the repeated derailments on the country’s rail lines and the multi-trillion-naira Chinese loans secured for railway development – a decision that reflects deepening concerns over transparency in the utilisation of debt incurred by the previous administration to finance the rail rehabilitation programme.

Amidst the legislative uproar, the Senate received a request by President Bola Ahmed Tinubu seeking approval for the establishment of a N1.15 trillion domestic borrowing programme to close the funding gap in the 2025 national budget.

The N55 trillion budget, which the Federal Government said would commence implementation in October, has a deficit estimate of close to N13.5 trillion, with some equity funding component grossly overstated.

The President had, in a last-minute adjustment, increased the expenditure items significantly with a claim that the revenue component projection had risen by an additional N5 trillion. Additional spending items included provisions for yet-to-be-created regional development agencies.

The Guardian had reported that the effective deficit of the budget could rise to N20 trillion in the best-case scenario and surpass that if revenue growth does not significantly exceed the recent years’ average speed.

In a letter read at Tuesday’s plenary by Senate President, Godswill Akpabio, the President said the borrowing became necessary to address the N1.147 trillion unfunded deficit that arose from the increase in the budget size beyond approved revenue projections.

Tinubu noted that the request was made in line with Section 44 (1–2) of the Fiscal Responsibility Act (FRA) and formed part of the administration’s strategy to ensure fiscal stability and effective budget implementation.

“Based on the foregoing, I wish to request the approval of the Senate for the establishment of a N1.15 trillion borrowing programme in the domestic debt market to close the unfunded 2025 budget deficit,” the President’s letter stated.

The request was subsequently referred to the Committee of the Whole for consideration and further legislative action.

Tinubu seeks fresh N1.15tr loan to bridge 2025 budget gap
THE request, if approved, will raise the public debt level currently estimated at N150 trillion, amidst growing concern about the utilisation of past loans. A motion sponsored by Senator Ede Dafinone (Delta Central) called for an urgent, independent technical audit of the recent derailment of the Ujevwu–Itakpe Standard Gauge Rail Line, just four days after a three-month suspension of service on the route resumed.

The Senate President, Godswill Akpabio, described the rail sector’s recurring failures as “a matter of national conscience,” lamenting that despite huge foreign loans incurred in their delivery, Nigerians “have never enjoyed one uninterrupted year of safe and reliable rail service”.

“We took trillions in loans from China for rail development, yet the tracks are failing; trains are derailing and Nigerians deserve to know why,” Akpabio declared.

Following deliberations, the Senate mandated its Committee on Land Transport to conduct an oversight visit to the affected route and report back within two weeks. It also called for modernisation of safety systems, installation of CCTV surveillance and acceleration of the long-delayed Ujevwu–Itakpe–Abuja extension project.

In a significant move, Akpabio announced the constitution of a high-powered ad hoc committee chaired by Senator Adams Oshiomhole to investigate both the recurring derailments and the management of Chinese rail loans procured for the projects.

The panel, which includes senators Osita Ngwu, Ireti Kingibe, Sahabi Yau, and Dafinone, is expected to report back within four weeks.

If the committee delivers on its mandate, contractors who handled the projects, as well as members of the late Muhammadu Buhari administration’s cabinet, including Rotimi Amaechi, would be invited for questioning.

Contractors barricade National Assembly over unpaid debts
INTERESTINGLY, past contractors engaged for various procurements are facing daunting challenges. The Guardian, a few months ago, reported that many contractors, who have been duly issued with certificates of job completion, were being owed billions of naira by the Federal Government.

The newspaper reported that some of the contractors had had to restructure their debts even as banks threatened them with litigation and asset seizure.

Earlier yesterday, the crisis caused a major siege at the National Assembly, with the lawmakers giving a matching order to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The National Assembly complex was thrown into chaos as hundreds of such local contractors under the banner of the All Indigenous Contractors Association of Nigeria (AICAN) barricaded its main gate in protest over non-payment for completed projects.

The protesters, led by AICAN National President Jackson Ifeanyi, accused the Federal Government of abandoning indigenous contractors while settling foreign firms.

They claimed that most of the unpaid contracts were majorly constituency projects already commissioned by lawmakers.

“We will remain on the streets until our payments are made,” Ifeanyi said, lamenting that members were losing their lives and properties to bank debts.

“If the government wants to kill us, let them do it in the open. We would rather die here than die silently at home.”

Responding at the spot of the protest, the Director of Sergeant-at-Arms, Brig.-Gen. Etido Ekpo (rtd), assured the protesters that their grievances would be relayed to the National Assembly leadership.

In a dramatic follow-up, the House of Representatives suspended plenary for one week to allow leadership to meet with the executive over the mounting debts owed to contractors – a development triggered by the protest that obstructed access to the legislative complex.

A motion moved by Malam Kabiru Ahmadu Mai-Palace and seconded by House Rules and Business Chairman, Francis Waive, was adopted after the Minority Leader, Kingsley Chinda, accused Edun and Budget and Economic Planning Minister, Atiku Bagudu, of ignoring presidential directives to release outstanding funds.

The House gave the ministers a one-week ultimatum to pay outstanding debts, warning that continued delays were “crippling the economy” and worsening hardship for contractors and workers across the country.

In a fresh twist, the Green Chamber last night reversed its earlier decision to suspend plenary for one week following the protest by indigenous contractors over unpaid debts for projects executed under the 2024 and 2025 budgets. The House said it will now reconvene today, November 5, to continue legislative business.

During plenary, members rejected four motions of urgent public importance before Deputy Speaker Benjamin Kalu, who presided, called for an emergency closed-door session to address the escalating situation.

Following deliberation, the plenary was adjourned for one week, while the House leadership was mandated to engage the Executive to ensure the immediate resolution of the payment impasse.

But in a statement by the House spokesperson, Akin Rotimi, on Tuesday evening, the decision by the House to reconvene on Wednesday stemmed from positive developments arising from engagements and interventions across various levels of government over the issues that prompted the adjournment. He said the issue is particularly that of contractors’ agitations and the non-release of funds under the 2024/2025 budget.

The decision was formally communicated to lawmakers in an internal memorandum issued by the Clerk of the House, Dr Yahaya Danzaria, Esq.

“According to the communication, the early resumption will allow the Leadership of the House to brief Members on progress recorded in resolving these issues and other related matters of national importance.

“At Wednesday’s plenary, the House is expected to formally rescind its earlier adjournment resolution to enable proceedings to continue. The Leadership urges all Honourable Members to make the necessary arrangements to be in attendance”, he said.