The Speaker of the House of Representatives, Tajudeen Abbas, has projected a dramatic expansion of Nigeria’s national budget, forecasting it will grow to five times its current size within the next one to two years as a direct result of President Bola Tinubu’s tax reforms.<\/p>\n\n\n\n
Speaking at an informal youth engagement event in Abuja titled “An Evening with 004,” Abbas expressed strong confidence that the government’s initiatives to block revenue leakages would fundamentally solve the chronic problem of inadequate funding for national projects.<\/p>\n\n\n\n
\u201cOne thing I want you to go home with is that Mr President and the National Assembly have crossed a major hurdle that has been bedevilling our budgets \u2014 paucity of revenue,\u201d Abbas stated. <\/p>\n\n\n\n
\u201cThe good news is that within the next one to two years, with the tax reform initiative brought by Mr President, Nigeria\u2019s budget will grow at least fivefold. At that point, we can adequately provide sector-by-sector and agency-by-agency allocations,\u201d he added.<\/p>\n\n\n\n
The Speaker acknowledged that despite a significant increase in the 2025 budget, the government’s current revenue remains insufficient, forcing ministries to operate within the restrictive “Envelope System” of allocation.<\/p>\n\n\n\n
Beyond fiscal policy, Abbas highlighted the uncommon unity within the House, attributing it to mutual respect among members across party and ethnic lines. He also offered personal advice to young Nigerians, urging them to embrace honesty and transparency as the foundation for long-term success.<\/p>\n\n\n\n
Reflecting on his own career, Abbas named President Tinubu as a key mentor and cited the passage of 22 of his sponsored bills in the last Assembly as his proudest legislative achievement.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Speaker of the House of Representatives, Tajudeen Abbas, has projected a dramatic expansion of Nigeria’s national budget, forecasting it will grow to five times its current size within the next one to two years as a direct result of President Bola Tinubu’s tax reforms. Speaking at an informal youth engagement event in Abuja titled “An Evening with 004,” Abbas expressed strong confidence that the government’s initiatives to block revenue leakages would fundamentally solve the chronic problem of inadequate funding for national projects. \u201cOne thing I want you to go home with is that Mr President and the National Assembly have crossed a major hurdle that has been bedevilling our budgets \u2014 paucity of revenue,\u201d Abbas stated. \u201cThe good news is that within the next one to two years, with the tax reform initiative brought by Mr President, Nigeria\u2019s budget will grow at least fivefold. At that point, we can adequately provide sector-by-sector and agency-by-agency allocations,\u201d he added. The Speaker acknowledged that despite a significant increase in the 2025 budget, the government’s current revenue remains insufficient, forcing ministries to operate within the restrictive “Envelope System” of allocation. Beyond fiscal policy, Abbas highlighted the uncommon unity within the House, attributing it to mutual respect among members across party and ethnic lines. He also offered personal advice to young Nigerians, urging them to embrace honesty and transparency as the foundation for long-term success. Reflecting on his own career, Abbas named President Tinubu as a key mentor and cited the passage of 22 of his sponsored bills in the last Assembly as his proudest legislative achievement.<\/p>\n","protected":false},"author":2,"featured_media":24974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[],"class_list":["post-27139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27139"}],"version-history":[{"count":1,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27139\/revisions"}],"predecessor-version":[{"id":27140,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27139\/revisions\/27140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/media\/24974"}],"wp:attachment":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}