…Seeks N10 Billion for Capital Market Investor Education
The Senate is set to receive the report on the revised N54.2 trillion 2025 budget estimates today or tomorrow, Senate President Godswill Akpabio has revealed.
Speaking during yesterday’s plenary after a debate on a bill for the establishment of a Federal University of Agriculture in Abak, Akwa Ibom State, Akpabio stressed the urgency of concluding other legislative matters to prioritize the budget’s finalization.
He noted that some senators were absent from the chamber due to their involvement in finalizing the 2025 Appropriation Bill. “The report will be laid before us tomorrow (Wednesday) or Thursday,” Akpabio stated. “We need to close early to allow for collective efforts in that direction for the final consideration and passage of the 2025 Appropriation Bill.”
The National Assembly initially planned to pass President Bola Tinubu’s proposed N49.7 trillion budget by January 31, 2025. However, an upward revision to N54.2 trillion—communicated by Tinubu on February 4, 2025, the same day lawmakers resumed from recess—necessitated a fresh review.
Both Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, emphasized the need to adjust the budget accordingly. Akpabio directed the Senate Committee on Appropriations to expedite the review to facilitate its passage by the end of February.
During plenary, he confirmed that the committee’s report on the adjusted N54.2 trillion budget would be presented this week, reaffirming the legislature’s commitment to fiscal discipline and timely budgetary approvals.
Senate Proposes N10 Billion for Capital Market Awareness
As part of the 2025 budget discussions, the Senate has proposed a N10 billion special fund to enhance investor education in the capital market.
Chairman of the Senate Committee on Capital Market, Osita Izunaso, made this known during the Securities and Exchange Commission (SEC) budget defense session in Abuja.
Addressing Finance Minister and Coordinating Minister of the Economy, Wale Edun, Izunaso emphasized the capital market’s critical role in achieving the administration’s goal of a $1 trillion economy.
“The capital market is performing well, but we need to do better in attracting investors,” he said. “Currently, participation is low, and the number of listed companies does not reflect the true size of businesses operating in Nigeria. We need special funds to promote capital market literacy and drive investor engagement.”
He disclosed that the Senate would formally request the inclusion of the N10 billion investor education fund in the 2025 budget, aimed at increasing awareness and boosting confidence in the market.
Edun, in response, highlighted the administration’s efforts to create a more stable and investment-friendly environment. He noted that the stock market had shown strong resilience since the beginning of the year, reflecting investor confidence in the economy.
The finance minister commended the National Assembly, regulators, and market participants for their support in strengthening the capital market, pledging continued collaboration to drive economic growth and financial inclusion.
