SA News

Secretary to the Government of the Federation, George Akume The Federal Government has directed all Ministries, Departments and Agencies (MDAs) to strictly comply with the Medium-Term Expenditure Framework (MTEF) as part of efforts to strengthen budget credibility and enforce fiscal discipline. Secretary to the Government of the Federation, George Akume, gave the directive during a courtesy visit by the Fiscal Responsibility Commission in Abuja. Akume stressed that adherence to the MTEF is essential for building a coordinated and disciplined fiscal environment capable of supporting sustainable economic growth. He explained that the MTEF serves as a strategic tool for aligning public expenditure with national development priorities, promoting predictability, transparency and long-term sustainability in the budgeting process. According to him, strict compliance by MDAs would enhance fiscal planning, reduce budget deviations and improve overall government accountability. Chairman of the F...

The Akwa Ibom State Government says it has fully repaid N39.831 billion in inherited commercial bank debts, describing the move as a major milestone in its sweeping financial reforms. Commissioner for Finance, Emem Almond Bob, disclosed this at a media briefing in Uyo, outlining what he termed a comprehensive overhaul of the state’s fiscal management architecture. According to him, the cleared liabilities covered both principal and accrued interest, effectively freeing the state from commercial bank obligations accumulated by previous administrations. Beyond debt liquidation, the government has reduced the backlog of gratuities owed to retired civil servants from N110 billion to N80 billion as of December 2025. Bob said the state also strengthened its investment base, growing its portfolio from N6 billion to N10 billion and earning N260.646 million in returns by June 2025. He noted that Akwa Ibom now prepares and publishes annual financial statements in line with international best pra...

CAPPA’s Executive Director, Akinbode Oluwafemi Corporate Accountability and Public Participation Africa (CAPPA) has condemned what it described as the opaqueness and significant procedural violations in the Lagos Water Corporation’s (LWC) ongoing procurement process for mini and micro water works under a Build-Finance-Operate-Transfer (BFOT) Public-Private Partnership (PPP) model. According to reports, the LWC issued a tender in September last year, inviting proposals from private firms for the rehabilitation, upgrade, operation, and maintenance of multiple public water facilities across Lagos, including Lekki and Akilo Waterworks, Victoria Island Annex and Magodo Waterworks, Abesan and Alexander Waterworks, and Apapa Waterworks. However, in a statement on Sunday, CAPPA alleged that Lagos State’s pattern of deliberate non-disclosure surrounding its ill-advised plan to privatise public water supply through PPP arrangements not only contravenes mandatory transparency requirements under t...