Henzodaily looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Monday, 16th December 2024.
The PUNCH: The Federation Accounts Allocation Committee disbursed a total of N2.08tn in allocations to Local Government Councils between July and December 2024, findings by The PUNCH have shown. However, despite the July 2024 Supreme Court ruling granting full financial autonomy to Nigeria’s 774 Local Government Areas, The PUNCH learnt that the allocations were still paid to state government accounts.
Vanguard: As President Bola Tinubu prepares to present to the National Assembly tomorrow, the 2025 national budget largely saddled with funding by borrowings, the Federal Government (FG) is set to overshoot its domestic borrowing target for 2024 by N4 trillion, about 67 per cent above the budgeted amount.
The Guardian: Nigeria’s over-reliance on debt funding may have hit the brink requiring a more creative financing model with the Federal Government’s unfunded deficit rising to as much as N3.95 trillion last year. The amount, which is 16.5 per cent of the entire 2023 budget, may be much higher when the report is updated considering the capital expenditure’s full implementation, which is extended to December 31.
Daily Trust: Citizens have said they are expecting more developmental projects and programmes from governors following the increases in the fiscal estimates proposed for the 2025 by various state governments.
Analysis by Daily Trust showed that 32 of the 36 governors have proposed a total sum of N21.9 trillion in the appropriation bills presented to their state assemblies.
