news
National Assembly pressuring Buhari’s govt to release N64.4bn constituency projects money
Nigerian lawmakers are stepping up the pressure on the federal government and President Muhammadu Buhari to promptly release all funds earmarked for their “constituency projects” in 2014, in addition to new allocations for the same projects in 2015, as reported byPREMIUM TIMES .
Ministry of Finance officials fear the money could be misused and are cautious in dealing with the lawmakers, who they believe are cash-strapped as they have yet to reap a major windfall since their elections in March.
Of the N100 billion allotted for the constituency projects last year, N51.88 billion was not released due to funds unavailability, officials say.
The government provided additional N50 billion for the projects in the 2015 budget.
Since budgeted funds are released quarterly, the government has approved N12.5 billion for the projects for the first quarter of 2015, which is between January and March, and has also approved the release of another N12.5 billion from last year’s balance.
But the lawmakers want the entire last year’s shortfall of N51.88 billion and this year’s first quarter allocation of N12.5 billion [totalling N64.4 billion] released immediately, and have ramped up pressure on the government for weeks, claiming contracts for the projects had already been awarded.
Constituency projects should be development programmes recommended by members of the National Assembly for implementation in their constituencies. The projects are financed through special allocation included in government budget annually.
Funds for the projects are kept in a special account from which contractors are paid directly.
Over the years, “constituency projects” became bywords for corruption as dubious lawmakers pocketed allocated funds several fraudulent schemes.
Officials well briefed on the matter say although constituency projects are advertised as required by law, lawmakers have devised a dubious ways of ensuring only companies fronting for them or those that belong to their cronies and prequalified.
They then share the proceeds of the contract with their hand-picked firms after executing a bit of it, or abandoning them altogether, officials at the finance ministry told PREMIUM TIMES.
Afraid that releasing the money under President Muhammadu Buhari could backfire, the ministry opted this time for a thorough process and have refused the release the money, irking the lawmakers.
A Development Fund General Warrant – an authority to make payments – signed by the permanent secretary in the ministry of finance, A. M. Daniel-Nwaobia, dated September 10, 2015, asked the Accountant General to release N12.5 billion for the first quarter of 2015, and another N12.5 billion from the unspent 2014 budget.
The lawmakers have intensified their lobbying after it became clear even the approved money had not been released.
Those familiar with the matter said the federal lawmakers have readied contractors they would recommend to execute projects once the funds are released, and are becoming increasingly impatient with the finance ministry for withholding the funds.
The lead director of Centre for Social Justice, Eze Onyekpere, said the development portends a major crisis for the executive.
“Constituency projects should be harmonised in the 2016 budget in line with the priorities and policy goals of government,” Mr. Onyekpere said.
“Ideally the allocations for constituency projects should not be released to the National Assembly members, but to the supervisory ministries, departments and agencies, MDAs, that would implement the projects.”
Since the budgeting process does not prioritize expenditures in accordance with available resources, he said the executive would be faced with the challenge of deciding what project to release funds to and what to leave out.
He noted that the issue should be a lesson for the administration, which needed to ensure that capital expenditures were reviewed in the 2016 budget, by matching available resources.
The Executive Director, Civil Society Legislative Advocacy Centre, CISLAC, Auwal Rafsanjani, agreed, saying he was totally opposed to the practice of getting lawmakers play roles in the execution of constituency projects.
Source : premium times
At least 23 people were killed in a series of suspected suicide bombings, police in Nigeria’s northeastern city of Maiduguri said on Tuesday.
https://www.stanbicibtcbank.com/nigeriabank/personal/products-and-services/all-loans/stanbic-ibtc-mreif-home-loans
More than 100 other people were injured in the blasts that took place on Monday evening in the capital of Nigeria’s restive Borno state.
No group has claimed responsibility for the suspected attacks.
The deadly blasts come after a military post was attacked overnight Sunday to Monday, which authorities blamed on suspected Islamist militants.
This sad incident is coming barely two weeks after Primate Elijah Ayodele, the Leader of INRI Evangelical Spiritual Church specifically warned against attacks in some states. He mentioned these states while calling on security operatives to pay close attention to them.
These were his words:
“Another attack is coming up in these following states where the military must watch carefully and intelligently; Kano, Kaduna, Zamfara, Kebbi, Niger, Borno, Kwara and Kogi state. They want to do a deadly attack, it’s preventable but it depends on how they will handle it. I have told you about the danger coming up.”
@primateayodele
Unfortunately, some of our military agencies don’t believe spiritual intelligence can save the country from so much danger hence, their neglect of this prophetic warning but now, it has been fulfilled with the miliary losing credibility by the day while Primate Ayodele continues to gain momentum.
Likewise, At least 26 passengers and crew sustained varying degrees of injuries on Monday following an accident involving the Kaduna–Abuja train, according to the Nigerian Railway Corporation (NRC).
Opeifa explained that the train departed Rigasa in Kaduna at 7:15 a.m. and was approaching Asham station around 9:16 a.m. when a loud bang was heard after the power car and trailing locomotive collided with one of the passenger coaches.
In July 2025, Primate Ayodele asked nigerians to pray not to see train mishap on the Kaduna-Abuja route.
@primateayodele #nigeriantiktok🇳🇬 #fulfillment #train #abuja #primateayodele
“Let’s pray not to see train mishap in Abuja-Kaduna, Kaduna-Abuja route.”
This has also been fulfilled.
The project ends decades search for investors, boosts Nigeria’s blue economy
By Prince Adeyemi Shonibare
Nigeria’s maritime sector is set for a major transformation following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a modern container terminal at Snake Island Port in Lagos.
The project, to be developed in partnership with Nigerdock, marks one of the most significant private sector investments in Nigeria’s port infrastructure in recent decades and is expected to strengthen the country’s role as a major maritime gateway in West and Central Africa.
For Nigeria, the agreement brings to close decades of efforts to attract large-scale investors to develop Snake Island Port, a strategically located maritime asset in Lagos.
Long-standing concession history
Snake Island’s maritime facilities date back several decades. In 1992, the Federal Government granted a 99-year concession for the island’s port and industrial facilities to Nigerdock, a major maritime engineering and logistics company.
Nigerdock was later privatised and is currently operated by the Jagal Group owned by Nigerian industrialist Maher Jarmakani.
Over the years, the Island Container Terminal fell into disrepair, requiring major rehabilitation and modernization to meet modern global shipping standards.
The new partnership with MSC is expected to transform the port into a state-of-the-art container handling facility capable of attracting larger vessels and increasing Nigeria’s cargo throughput capacity.
Buhari administration approved the project.
The investment framework for the Snake Island development was approved in May 2023 by the Federal Executive Council under then President Muhammadu Buhari.
The approval authorised total private investment of approximately $974.1 million for the project under a Public-Private Partnership structure, including the 45-year concession period.
At the same time, the Federal Government also approved two other major maritime infrastructure projects:
• Development of the Ondo Multipurpose Port in Ilaje, Ondo State, with $1.48 billion in private investment and a 50-year concession.
• Expansion and development of the Burutu Sea Port in Delta State, involving $1.2 billion in private investment and a 40-year concession.
These projects form part of Nigeria’s broader effort to develop its blue economy and expand maritime trade capacity.
Construction partners
Engineering and construction of the Snake Island container terminal will be handled by:
• ITB Nigeria Limited
• DEME Group
ITB Nigeria Limited is part of the Chagoury Group and owned by the Chagoury family, while DEME Group is a globally recognised Belgian marine engineering and dredging company with extensive experience in port construction.
MSC profile
Founded in 1970 by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant, MSC has grown from a single cargo vessel into the largest container shipping company in the world.
Headquartered in Geneva, Switzerland, the company operates in more than 155 countries and serves over 500 ports worldwide, with a fleet of roughly 900 container ships and over 200,000 employees globally.
The MSC Group also operates major logistics and maritime businesses including inland logistics through Medlog, cruise tourism through MSC Cruises, and port terminal operations across several continents.
According to Forbes, the estimated net worth of MSC founder Gianluigi Aponte is about $43.9 billion as of February 2026, placing him among the world’s richest shipping magnates. The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.
Management comments
Speaking on the development, MSC Group President Diego Aponte said the company is committed to strengthening its operations in Nigeria and across Africa.
“We are proud to expand our presence in Nigeria through this important infrastructure project. The Snake Island terminal will enhance service delivery and improve port efficiency for our customers and partners in the region,”
Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone for the Nigerian maritime sector.
“We are delighted to partner with MSC in developing a world-class container terminal that will enhance Nigeria’s logistics capabilities and support economic growth,” he said.
Economic impact
Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.
The development is also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.
Infrastructure expansion
Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.
The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.
Strategic milestone
With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.
For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future.
By Prince Adeyemi Shonibare
news
From Construction Sites to Community Service: Temitope Akinyemi Emerges as a Model of Leadership and Impact
-
society6 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news3 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
society6 months ago“You Are Never Without Help” – Pastor Gebhardt Berndt Inspires Hope Through Empower Church (Video)
-
society7 months agoWho is Chief Kestin Pondi? Niger Delta’s “People’s Chief” Winning Hearts With Hundreds of Millions in Generosity
You must be logged in to post a comment Login
You must log in to post a comment.