• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 4, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NASS Approves N7.3trn Ways And Means

by James Kwen and Sunday Isuwa
2 years ago
in Cover Stories
Share on WhatsAppShare on FacebookShare on XTelegram

The National Assembly has approved the securitisation of the outstanding debit balance of N7.3trn of the Ways and Means Advance in the Consolidated Revenue Fund (CRF) of the Federal Government.

Advertisement

This followed the consideration of President Bola Tinubu’s letter which he addressed to the presiding officers of the National Assembly.

 

Tinubu’s request was subsequently considered at the Committee of Supply and approved at plenary due to its urgency.

 

RELATED

The Untold Struggle-for-Survival Story Of Bauchi Flood Victims

Rainstorm Wreaks Havoc On Plateau Community, Flood Submerges Farmlands In Niger, Kogi

11 hours ago
Peter Obi Calls For Reopening Of Onitsha Markets Closed Over Illicit Drugs

ACF Rejects Peter Obi’s Reiterated One-term Pledge

11 hours ago

Ways and Means is a loan facility through which the CBN finances the government’s budget shortfalls.

 

The letter by the President is titled, “Securitization of the debit balance of ways and Means in the consolidated revenue fund of the Federal Government of Nigeria.”

 

It read, ” I would like to call the attention of the Senate to the provisions of section 38 of the subsisting CBN Act 2007.

 

“It stipulates that the apex bank may grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue provided such overdraft does not surpass 5% of the Government revenue from the previous year.

 

“The Senate is invited to note that from available information by the CBN the Consolidated Revenue Fund (CRF) account of the Federal Government of Nigeria (FGN) stood at N7.3trn as of December 11, 2023 that is due to domestic debt servicing, Principal and interest.

 

“While the Federal Government is considering various measures to forestall the use of Ways and Means advances for domestic debt servicing, it has become highly imperative to securitise the outstanding Ways and Means Advance of the Federal Government of Nigeria before the end of the year 2023.

 

“The securitization of the Ways and Means will lead to the realisation of the following benefits amongst others:

 

“Reduction of debt service costs as interest rate for the securitize Ways and Means advanced is lowered at 9% per annum compared to MBR which is 0.3%

 

“The savings arising from the much lower interest rate will have to reduce the deficit in the budget.

 

“The improvement in debt transparency as securitised Ways and Means Advances are included in the public debts statistics.

 

“In view of the foregoing the senate is invited to kindly consider and approve the securitisation of the outstanding debit balance of N7.3tr in the same order as at December 2023.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Farmers In Ekiti Cry Out As Herders Destroy Over 30 Farmlands

Next Post

Steven Ndukwu Nominated For The Future Awards Africa 2023 

James Kwen and Sunday Isuwa

James Kwen and Sunday Isuwa

You May Like

The Untold Struggle-for-Survival Story Of Bauchi Flood Victims
Cover Stories

Rainstorm Wreaks Havoc On Plateau Community, Flood Submerges Farmlands In Niger, Kogi

2025/08/04
Peter Obi Calls For Reopening Of Onitsha Markets Closed Over Illicit Drugs
Cover Stories

ACF Rejects Peter Obi’s Reiterated One-term Pledge

2025/08/04
Japa: Medical Schools’ Bid To Double Students’ Intake Under Threat
Cover Stories

Unmet Demands: Nurses Suspend Strike, Doctors May Down Tools August 17

2025/08/03
NLC Laments As Only 6 States, FCT Joined Contributory Pension Scheme
Cover Stories

NLC Rejects FG’s Attempt To Criminalise Strikes With New Industrial Policy

2025/08/03
HIV/AIDS: Despite Donors Funding Cut, NACA Assures Of Sufficient Drugs
Cover Stories

HIV/AIDS: Despite Donors Funding Cut, NACA Assures Of Sufficient Drugs

2025/08/03
WASTE NEGLECT…Multi-billion Naira State Liaison Offices Rot Away In Lagos
Cover Stories

WASTE NEGLECT…Multi-billion Naira State Liaison Offices Rot Away In Lagos

2025/08/02
Leadership Conference advertisement

LATEST

PPDC Launches $4,000 Grant For Investigative Journalists

‘Pray For Me Daily, I Deal With Lawless Elite,’ Wike Tells FCT Residents

PICTORIAL: Ex-Soldiers Protest, Demand Outstanding Entitlements In Abuja

Atalanta CEO Confirms Pact Lookman Amid Transfer Speculation

Travels: Osun Gov’t Denies Misuse Of Public Funds

Coalition Asks UBEC Boss To Resign Over Alleged Infractions

PDP Must Uphold Outcome Of South-South Congress — Wike

How To Check 2025 WAEC Result Online

BBNaija S10: Thelma Emerges First Female Head Of House

Police Neutralise Notorious Kidnapping Suspect In Akwa Ibom

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.