2025 Budget: Mbah Presents Record N971bn to Enugu House of Assembly Crashes recurrent expenditure further to 14% at N133.1bn Upscales capital expenditure to N837.9bn Again, prioritises education with over 33% of budget Ramps up IGR from N37.4bn to N144.7bn in 2024
The governor of Enugu State, Dr. Peter Mbah, has proposed a record N971 billion 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 Assembly yesterday, Mbah said the
proposed budget comprised N837.9 billion Capital Expenditure, representing 86 per cent of the budget, and a
Recurrent Expenditure component of N133.1 billion, representing only 14 per cent of the budget. This toppled the
equally record 2024 budget of N521.5 Continued on page 9
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After Prolonged Delay, Missed Deadlines, Port Harcourt Refinery Begins Operation A jubilant Tinubu directs NNPC to reactivate Warri, Kaduna refineries National oil company started production with lowly 1.4m litres of petrol Kyari says president’s pressure made feat possible, discloses 70% capacity reached NMDPRA certifies fuel okay, pledges support for on-streaming of other facilities Petrol retailers declare competition begins Deji Elumoye, Emmanuel Addeh in Abuja and Blessing Ibunge in Port Harcourt After a long delay involving at least seven missed deadlines, the Nigerian National Petroleum Company Limited (NNPC) yesterday said it had finally activated the 60,000 barrels per day
(bpd) phase one of the Port Harcourt oil refinery, located in Rivers State. The rehabilitation process for the total 210,000 bpd refinery began in 2021 after the federal government secured a $1.5 billion contract to fix the facility, which had been left Continued on page 9
PORT HARCOURT REFINERY RESUMES PRODUCTION...
Managing Director, Port Harcourt Refining Company (PHRC) Ltd, Mr. Ibrahim Monday Onoja (right), presenting sample of petroleum product to the Group Chief Executive Officer, NNPC Ltd, Mr. Mele Kyari during the inauguration of the PHRC Plant and Products Truck-Out Ceremony at the Refinery in Port Harcourt …yesterday
Citing Unrelenting Inflationary Risks, Apex Bank Raises MPR to 27.50%... Page 5