GRBusiness
Gov Mbah Presents Record N971bn 2025 Budget to Enugu House of Assembly
… Crashes Recurrent further to 14% at N133.1bn
… Capital Expenditure rises to N837.9bn
… Again, Education gets over 33% of budget
… Ramps up IGR from N37.4bn to N144.7bn in 2024
…Assembly promises early passage
Governor of Enugu State, Dr. Peter Mbah, has proposed a record N971bn budget bill for the 2025 fiscal year to the Enugu State House of Assembly.
Presenting the estimates entitled “Budget of Exponential Growth and Inclusive Prosperity” at the floor of the House on Tuesday, Mbah said the proposed estimates comprised N837.9bn Capital Expenditure, representing 86 per cent of the budget estimates, and a Recurrent Expenditure component of N133.1bn, representing only14 per cent of the budget.
This topples the record-holding 2024 budget of N521.5bn, consisting of N414.3bn Capital Expenditure, representing 79 per cent of the total budget and N107.2bn Recurrent Expenditure, representing about 21 per cent.
However, like the 2024 budget, the 2025 budget proposal emphasizes huge investment in education as well as basic but critical infrastructure and amenities like roads and bridges, water supply, transport services, energy, modernization and digitization of public services and associated processes, with the Education sector getting a lion-share of N320.6bn, representing over 33 per cent of the total budget for two consecutive years.
Mbah said that this was in line with his administration target of poverty eradication and an inclusive development model, which ensures that no one or segment of the society is left behind.
The governor equally announced a growth in the state’s Internally Generated Revenue, IGR, from N37.4bn at the end of 2023 to N144.7bn in September 2024, representing a radical 286.2 per cent increase in line with the administration’s deliberate effort to wean the state off reliance on FAAC allocations.
Addressing the House, Mbah said, “In crafting this budget, we have sort to continue to lay the right foundation in Enugu to enhance the economy and attract even more private investment.
“In spite of the dreary economic environment across the country, for us here in Enugu, we have elected to remain bullish in our aspirations, and to double down on our commitment to elevate our state to top three status in terms of GDP nationally, and eradicate poverty from our midst.
“Indeed, we see this as a vindication of our previously espoused view that sustainable national growth can really only be driven from the sub-national units to the federal levels, and not the other way round as we have attempted to do to date.
“It is on account of this that we are proposing to the House of Assembly today, a budget with a total envelope of N971,084,000,000.00 as against the budget for 2024 fiscal year which totaled N521,561,386,000.00.
“This represents an 86.4 per cent increase from the 2024 revised budget.
“The budget is broken down as follows: N133,140,000,000.00 as Recurrent Expenditure and N837,944,000,000.00 as Capital Expenditure,” he said.
On sources of revenue, he said, “In the area of our revenues, we estimated that total Recurrent revenues during 2025 will amount to N692,179,000,000 as against the approved revised provision for 2024 of N383,789,000,000.00.
“The Recurrent revenues for 2025 are broken down as follows: opening balance – N32,000,000,000; Internally Generated Revenue, IGR – N509,947,000,000; statutory revenue – N48,749,000,000; exchange rate differential – N26,559,000,000; and Value Added Tax, VAT – N74,924,000,000.
“With the total Recurrent Expenditure at N133,140,000,000.00, this translates to a Net Recurrent Revenue of N559,039,000,000.00, which is thus transferred to the Capital Development Fund.
“The total Capital Expenditure for the year 2025 is projected at N837,944,000,000.00 as against N414,334,120,000.00 for the 2024 Revised Budget. The Current Capital Expenditure estimate will be funded from the sum of N559,039,000,000.00 to be transferred from the Consolidated Revenue Fund, and the Capital receipts of N278,905,000,000.00 to be realized as follows: External and Internal Aids and Grants – N15,000,000,000; other receipts – N80,202,000,000; Domestic Loans/Borrowings receipts – N55,000,000,000; and International Loans/Borrowings – N128,503,000,000.”
Meanwhile, in terms of broad sectors, the Economic Sector got a lion share of N462bn, representing 55.1 per cent of the Capital Expenditure, followed by the Social Sector with N345.7bn, representing 41.2 per cent.
In terms of specific sectors, Education got 33.2 per cent, the largest chunk, in sync with Mbah’s effort to eradicate poverty and graduate the state to a knowledge-based economy.
“As we must all know by now, Education is both our ‘sword’ and ‘shield’ in this battle to achieve economic growth in our state and banish poverty and want among our population. Consequently, we are maintaining the ambitious direction we charted in 2024 by voting a total of N320,609,059,000,00 for that sector. This represents 78% of the social sector of the budget and 33.2% of our Capital Expenditure this year,” he stated.
The governor explained that the 2025 budget would also focus greatly on health, road infrastructure, transport, agriculture, and water sectors, among others.
“There can be no economic growth without quality healthcare. This is why we are spending N45,830,896,000.00 on the sector this year.
“In the area of Works and Infrastructure, we will continue our relentless advance towards our target to build or refurbish all key roads across the state by 2031. In line with this, we will spend a total of N213,120,267,000.00 in 2025.
“Food inflation is a major component of core inflation in Nigeria. Consequently, food production is critical to moderation of the currently high levels of inflation in the Country. As a result, we will be spending up to N82,300,761,000.00 in the agricultural and agro-industrialisation sector this year.
In the area of Transport, we will be spending a total of N41,132,463,000.00 to expand Enugu Air with the acquisition of 4 additional aircraft. In addition, we will be consummating the concessioning of the Akanu Ibiam international airport as well as the construction of an international cargo terminal. We will also be floating a new taxi scheme in collaboration with the private sector to modernize urban and inter-urban transportation for Ndi Enugu.
2024 Budget Performance
Giving a breakdown of the state’s IGR and overall performance of the 2024 budget, the governor noted a remarkable increase in the state’s IGR since the inception of this administration, explaining that while the state’s IGR stood at N26.8bn in 2022, the administration it by 39 per cent to N37.4bn at the end of 2023.
However, as at September 2024, the state’s IGR had drastically increased to ₦144.7bn, representing a 286.2 per cent increase, expressing confidence that ti would surpass 200billion by the end of the year.
“In terms of budgetary performance, the total revenue realised in the state as at October 2024 came to N459,851,309,396.47, which comes to a budget performance of 88%. Of this amount, N178,354,494,502.47 related to Statutory Receipts, while N136,700,000,000.00 related to Capital Receipts and N144,796,814,894.00 to Internally Generated Revenue.
“As at October, these inflows had been applied to Expenditure with N382,427,929,564.00 as Capital Expenditure and N76,546,090,116.18 as Recurrent Expenditure. These translated to a budget performance of 88%. Additional revenues and Expenditure are still expected before the end of the year, with IGR envisaged to surpass the N200 billion mark.
“While we may make bold to say that our progress in this past year is commendable given the odds that were arraigned against the state economy, we are not yet ready to rest on our oars,” Mbah said.
Meanwhile, the Speaker of the State Assembly, Hon. Uchenna Ugwu, has promised early passage of the budget by the House to sustain the governor’s development strides.
“He exhibited his leadership mantra, tomorrow is here.
“Because you have demonstrated enormous capacity; because you have exhibited enormous potential of the very fabric of our state’s economy, I want to assure you that the House of Assembly shall expeditiously consider this and give you the legal framework to continue flying high,” Hon. Ugwu stated.
Improved efforts at collaboration among financial service providers, telecommunication operators, and tech Startups, with conscious effort geared at consumer awareness, have been proffered as key remedies to the challenge of financial inclusion in the country.
This is the viewpoint of stakeholders that gathered for the second edition of Payment Forum Nigeria (PAFON 2.0) held recently in Lagos.
Delivering a keynote address on the theme, “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, Ebehijie Momoh (Mrs.), the managing director and chief executive officer of AfriGoPay Financial Services Limited, said that with 64% of Nigerian adults being financial included the country has made immense progress in that regards.
She said that between 2012 till date, the country has recorded robust regulatory reforms, especially the launch of the Bank Verification Number (BVN) in 2014 making it easier to identify and track customers across different banks.
“This initiative enhanced the credibility of the financial sector and increased confidence in formal banking systems.
The growth in adoption of smartphones has also helped the financial sector to leapfrog financial inclusion. Nigeria has 142.16 mobile internet subscriptions with an average consumption of ~7.04GB / month as of January 2025. If you juxtapose it to the 15.9% decline in shipments of feature phones to 18.8 million units in Africa as at Q1 2024, you will understand that the uptake in smartphones has helped us a great deal.
Mrs. Momoh who spoke through Mr. Munachi Duru, the head of Innovation and Strategic Partnership at AfriGoPay, said the adoption of artificial intelligence banking gave birth to solutions like smile identity, a leading KYC verification provider launches facial recognition capabilities in Nigeria as neobanks and commercial banks are deploying AI-based KYC verification tools, enabling cheaper and efficient customer acquisition and servicing.
In her goodwill message, Mrs. Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities Limited (SANEF) Limited said that with progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, SANEF has leveraged Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
She noted that as technology evolves rapidly within the financial ecosystem, Financial Inclusion must continue to be at the center of the nation’s progress.
According to her, agent banking has been a game-changer in expanding financial inclusion across Nigeria. “By deploying agents in underserved areas, we have brought financial services and banking products such as account opening, cash in, cash out, bill payment, transfers and other services closer to the unbanked and underserved.”
Speaking during a panel session, Mr. Ibirogba Oluwagunwa, chairman, Lagos State Chapter of the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN), spoke of lack of collaboration and slow institutional drive towards AI as key barriers hindering digital inclusion.
He harped on the need for information sharing among fintech operators, and improved free flow of information to consumers. “The human barrier angle needs to be addressed. Fintechs need to be pushed to move forward, AI cannot operate itself.”
In his contribution, Mr. Chika Nwosu, managing director of PalmPay, reiterated the need to reach the consumers with simple format communication and education style.
He said operators should create awareness and design consumer-centric approach in developing any products. This will not only draw the consumers towards the product, but also generate trust and ease the use of such products.
Focusing on the use of AI to ensure reach, inclusion and security, Azure Application and AI Specialist at Microsoft UK, Olusoji Solomon Adeyemo, spoke on the need for AI and Blockchain in the bid to extend services to rural communities and the unbanked.
According to him, “AI, Blockchain and CBDs are shaping the future of payment, and there is a serious need for education. We need to align with global trends in new tech adoption.”
While noting that AI can ensure reach, Adeyomo said blockchain will also create digital identity that is exclusive and will promote digital financial inclusion.
In her position, Oluwabunmi Ogunyemi, the customer support lead at Moniepoint MFB, proffered physical and digital meet with customers, even in rural areas, as a viable means of inclusivity.
Also speaking, Olusegun Afolabi, the co-founder of Face Technologies UK Ltd., called for improved collaborations among stakeholders in the financial sector.
According to him, the fintech companies must also embrace effective identification solutions, focusing on biometrics and card technologies to ensure topnotch security for users.
Earlier in his opening remarks, Mr. Peter Oluka, co-Convener of the Forum, noted that the financial inclusion journey in the country has come to a crucial juncture where over 30 million adults are still financially excluded, many of whom reside in rural areas or belong to vulnerable demographics.
He noted that despite 12% growth in access to formal financial services between 2020 and 2023, as recorded by the EFInA Access to Financial Services Survey 2023, challenges still exist that hinders the unlocking of the potentials of digital payments to drive inclusive growth in Nigeria.
He further posited: “As digital infrastructure grows and fintech innovation accelerates, we must channel these advancements toward building a more inclusive, secure, and trusted financial ecosystem. This is not just about transactions — it’s about empowerment, opportunity, and economic participation for all.
Nodding in agreement, Mr. Chike Onwuegbuchi, co-Convener, PAFON, reiterated the need for all stakeholders in the financial payment industry, including regulators, to participate in forums as PAFON, to map out, growth strategies with consumers and other strata of the ecosystem.
He promised to invite security stakeholders, such as the EFCC and others in subsequent editions of the event. This will help give insight into security concerns in deployment of products and services in rural and unbanked communities.
Payments Forum Nigeria (PAFON) is a platform dedicated to shaping the future of digital payments and financial services in our country.
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
Micro, Small and Medium-sized Enterprises(SMBs) are the backbone of most economies accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. They drive growth, innovation, and job creation worldwide.
In Nigeria, they play a crucial role in stimulating local economies and contributing to the country’s GDP.
Recognising their impact, WhatsApp is committed to empowering SMBs with the tools to succeed through the WhatsApp Business App, by reaching their customers where they already are.
WhatsApp continues to be the best way for people and businesses to get business done in Nigeria. With its efficient features, the WhatsApp Business App has become an indispensable tool for small businesses, helping them streamline communication, enhance customer engagement and drive sales. And we know customers love communicating with businesses over WhatsApp too, as nearly 80% of people globally message with a business at least once a week.
Whether you’re just starting out or looking to optimise your business operations, here are five essential WhatsApp Business features that can elevate your efficiency and customer interactions.
1. Catalog – Showcase Your Products and Services
Gone are the days of sending multiple images and descriptions individually to customers. With the Catalog feature, you can create a digital storefront where customers can browse your offerings within WhatsApp. This is just like a mini-website which makes it easier to showcase your products, prices and descriptions in an organised way.
How to Use It: Go to Business Tools > Catalog. Add product images, videos, names, descriptions and pricing.
2. Quick Replies – Save Time on Repetitive Questions
Answering the same customer questions repeatedly? Quick Replies let you create preset responses for frequently asked questions, saving you time and ensuring fast customer service.
How to Use It:Go to Settings > Business Tools > Quick Replies. Create and save responses such as a greeting message or order confirmation. Use the shortcut “/” to insert a quick reply in any chat
3. Labels – Stay Organised and Track Conversations
Managing multiple customer interactions can be overwhelming, but the Labels feature helps by categorising chats in different ways, such as order status or customer type. You can create labels with different colors or names and add the conversations to an entire chat. This keeps your inbox organised and ensures no customer is left waiting.
How to Use It: Open a chat, tap on the three-dot menu > Label Chat. Assign relevant labels like New Customer, Order Placed, Pending Payment.
4. Away Messages – Engage Customers Even When You’re Away
Never miss a customer inquiry again. Away Messages allow you to set up a greeting or away message, ensuring customers receive timely responses even outside business hours.
How to Use It: Go to Business Tools > Away Message / Greeting Message. Set up a custom message and schedule when it should be sent.
5. Meta Verified – For Enhanced Protection and Account Support
A paid subscription that helps your business build credibility with new audiences, Meta Verified can help drive more engagement and grow your brand. With Meta Verified, you’ll receive enhanced account support, can use WhatsApp across multiple devices and easily create a professional WhatsApp web page that’s tailored to you.
How to Use It: Go to Settings or Business Tools > tap Meta Verified.
WhatsApp Business is packed with features designed to help small businesses grow, stay organised, and engage with customers effortlessly. By leveraging these features, you can enhance your customer experience, increase efficiency and ultimately drive more sales. Start your own journey with the WhatsApp Business app here.
PAFON 2.0: Experts Highlight Ingredients for Accelerated Financial Inclusion in Nigeria
Emulate Christ’s virtues, Glo urges Christians at Easter
“Jesus + Nothing Worship” Leaves Lasting Impact, Amplifying the Message of Christ’s Sacrifice and Resurrection
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
We Do Not Accept Refugee Application Directly From People – Canadian Govt.
-
Spotlight3 days ago“Jesus + Nothing Worship” Leaves Lasting Impact, Amplifying the Message of Christ’s Sacrifice and Resurrection
-
Finance2 days ago
PAFON 2.0: Experts Highlight Ingredients for Accelerated Financial Inclusion in Nigeria
-
News3 days ago
Emulate Christ’s virtues, Glo urges Christians at Easter
